TMDX vs. HJPSX

Last updated Jun 13, 2026

TMDX (TransMedics Group, Inc.) is a stock, while HJPSX (Hennessy Japan Small Cap Fund) is Japan Equities fund managed by Hennessy. Over the past 5 years, TMDX returned 20.83%/yr vs 8.15%/yr for HJPSX. At a 0.26 correlation, their price movements are largely independent.

Performance

TMDX vs. HJPSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TransMedics Group, Inc. (TMDX) and Hennessy Japan Small Cap Fund (HJPSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TMDX achieves a -40.07% return, which is significantly lower than HJPSX's 12.79% return.

TMDX

• 1D: -0.92%
• 1M: 15.36%
• YTD: -40.07%
• 6M: -42.50%
• 1Y: -48.97%
• 3Y*: -4.58%
• 5Y*: 20.83%
• 10Y*: —

HJPSX

• 1D: 1.71%
• 1M: -1.79%
• YTD: 12.79%
• 6M: 15.92%
• 1Y: 30.46%
• 3Y*: 18.80%
• 5Y*: 8.15%
• 10Y*: 10.57%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TMDX vs. HJPSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TMDX TransMedics Group, Inc.	-40.07%	95.11%	-21.01%	27.88%	222.13%	-3.72%	4.68%	-6.12%
HJPSX Hennessy Japan Small Cap Fund	12.79%	29.02%	8.24%	16.30%	-16.35%	-4.64%	13.43%	11.99%

Correlation

The correlation between TMDX and HJPSX is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (All Time) Calculated using the full available price history since May 2, 2019	0.26

Return for Risk

TMDX vs. HJPSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TMDX

TMDX Risk / Return Rank: 8
TMDX Sharpe Ratio Rank: 9
TMDX Sortino Ratio Rank: 10
TMDX Omega Ratio Rank: 11
TMDX Calmar Ratio Rank: 10
TMDX Martin Ratio Rank: 1

HJPSX

HJPSX Risk / Return Rank: 44
HJPSX Sharpe Ratio Rank: 51
HJPSX Sortino Ratio Rank: 49
HJPSX Omega Ratio Rank: 47
HJPSX Calmar Ratio Rank: 39
HJPSX Martin Ratio Rank: 32

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TMDX vs. HJPSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TransMedics Group, Inc. (TMDX) and Hennessy Japan Small Cap Fund (HJPSX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	TMDX	HJPSX	Difference
Sharpe ratio: Return per unit of total volatility	-0.85	1.71	-2.55
Sortino ratio: Return per unit of downside risk	-1.16	2.36	-3.52
Omega ratio: Gain probability vs. loss probability	0.86	1.30	-0.45
Calmar ratio: Return relative to maximum drawdown	-0.84	2.02	-2.85
Martin ratio: Return relative to average drawdown	-1.99	6.15	-8.14

TMDX vs. HJPSX - Sharpe Ratio Comparison

The current TMDX Sharpe Ratio is -0.85, which is lower than the HJPSX Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of TMDX and HJPSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TMDX vs. HJPSX - Drawdown Comparison

The maximum TMDX drawdown since its inception was -73.69%, which is greater than HJPSX's maximum drawdown of -47.91%. Use the drawdown chart below to compare losses from any high point for TMDX and HJPSX.

Drawdown Indicators

	TMDX	HJPSX	Difference
Max Drawdown Largest peak-to-trough decline	-73.69%	-47.91%	-25.78%
Max Drawdown (1Y) Largest decline over 1 year	-58.76%	-14.77%	-43.99%
Max Drawdown (3Y) Largest decline over 3 years	-67.79%	-14.77%	-53.02%
Max Drawdown (5Y) Largest decline over 5 years	-67.79%	-33.24%	-34.55%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.80%	—
Current Drawdown Current decline from peak	-58.60%	-4.60%	-54.00%
Average Drawdown Average peak-to-trough decline	-31.89%	-10.05%	-21.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.65%	4.83%	+19.82%

Volatility

TMDX vs. HJPSX - Volatility Comparison

TransMedics Group, Inc. (TMDX) has a higher volatility of 12.66% compared to Hennessy Japan Small Cap Fund (HJPSX) at 4.08%. This indicates that TMDX's price experiences larger fluctuations and is considered to be riskier than HJPSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TMDX	HJPSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.66%	4.08%	+8.58%
Volatility (6M) Calculated over the trailing 6-month period	43.87%	13.52%	+30.35%
Volatility (1Y) Calculated over the trailing 1-year period	58.06%	17.47%	+40.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.00%	17.27%	+54.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.72%	17.75%	+53.97%

Dividends

TMDX vs. HJPSX - Dividend Comparison

TMDX has not paid dividends to shareholders, while HJPSX's dividend yield for the trailing twelve months is around 11.74%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HJPSX Hennessy Japan Small Cap Fund	11.74%	13.25%	3.64%	0.85%	0.61%	0.43%	0.23%	1.30%	3.46%	2.09%	2.03%	3.34%
TMDX TransMedics Group, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TMDX and HJPSX in my portfolio?

TMDX and HJPSX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TMDX or HJPSX?

TMDX has higher volatility (12.66%) compared to HJPSX (4.08%). In terms of maximum drawdown, TMDX dropped -73.69% vs HJPSX's -47.91%.

Which has better risk-adjusted returns?

HJPSX currently has the higher Sharpe Ratio (1.71 vs -0.85), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.