Hennessy Gas Utility Fund (HGASX)

Morningstar Risk & Return as of 3/31/2018
(Relative to Utilities Category)

3YR 5YR10YR Overall
Morningstar Risk Below Avg Below AvgAverage Average
Morningstar Return Low Below AvgHigh Average
Morningstar Rating*
# of funds in Utilities Category 58 5551 58

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

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

3YR 5YR10YR  
Gas Utility Fund (HGASX) 11.35 11.4613.71  
S&P 500 Index 10.26 9.8715.05  
Utilities Funds Category Average 12.09 12.2313.63  

Modern Portfolio Theory Statistics as of 3/31/2018
(Relative to S&P 500 Index)

3YR 5YR10YR  
Beta 0.51 0.540.66  
Alpha -3.97 -0.462.29  

Capture Ratios as of 3/31/2018
(Relative to S&P 500 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.