Hennessy Focus Fund (HFCSX)

Morningstar Risk & Return as of 3/31/2018
(Relative to Mid-Cap Growth Category)

3YR 5YR10YR Overall
Morningstar Risk Low Below AvgBelow Avg Below Avg
Morningstar Return Below Avg AverageAbove Avg Average
Morningstar Rating*
# of funds in Mid-Cap Growth Category 549 485352 549

*The overall Morningstar Rating is based on risk adjusted returns.

Standard Deviation (Volatility) as of 3/31/2018

3YR 5YR10YR  
Focus Fund (HFCSX) 10.22 10.5616.69  
Russell 3000 Index 10.36 10.0015.55  
Mid-Cap Growth Funds Category Average 11.81 11.7017.78  

Modern Portfolio Theory Statistics as of 3/31/2018
(Relative to Russell 3000 Index)

3YR 5YR10YR  
Beta 0.93 0.980.96  
Alpha -2.51 -0.981.94  

Capture Ratios as of 3/31/2018
(Relative to Russell 3000 Index)

Standard deviation is a statistical measure of the historical volatility of a mutual fund or portfolio. Beta measures the volatility of the fund, as compared to that of the overall market or of a benchmark. The benchmark’s beta is set at 1.00; a beta higher than 1.00 is considered to be more volatile than the benchmark, while a beta lower than 1.00 is considered to be less volatile. Alpha is an annualized return measure of how much better or worse a fund’s performance is relative to an index of funds in the same category, after allowing for differences in risk. Market Capture Ratio is a statistical measure of the Fund’s overall performance in up-markets (positive return periods) and down-markets (negative return periods). The market capture ratios are used to evaluate how well an investment performed relative to an index during periods when that index has risen or fallen.