Hennessy Gas Utility Fund (HGASX)

Morningstar Risk & Return as of 12/31/2017
(Relative to Utilities Category)

3YR 5YR10YR Overall
Morningstar Risk Low Below AvgAverage Below Avg
Morningstar Return Low Below AvgHigh Average
Morningstar Rating*
# of funds in Utilities Category 58 5550 58

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

Standard Deviation (Volatility) as of 12/31/2017

3YR 5YR10YR  
Gas Utility Fund (HGASX) 10.64 11.4213.68  
S&P 500 Index 10.07 9.4915.08  
Utilities Funds Category Average 11.74 12.1013.75  

Modern Portfolio Theory Statistics as of 12/31/2017
(Relative to S&P 500 Index)

3YR 5YR10YR  
Beta 0.48 0.640.68  
Alpha -2.38 0.962.51  

Capture Ratios as of 12/31/2017
(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.