• Overview

    Category
    Multi-Asset

    Hennessy Equity and Income Fund

    Actively managed and conservative by design, the Fund maintains a balanced portfolio of both equities and fixed-income securities.

    Investor

    HEIFX

    Institutional

    HEIIX

    Morningstar style box

    Morningstar style box

    Overall morningstar rating

    • Institutional
    • HEIIX

    Among 643 Allocation--50% to 70% Equity Funds (Based on risk-adjusted returns, as of 12/31/19)

    Investment Overview Video
    Investment Overview Video

    Why Invest

    • A balanced portfolio of high-quality equity and fixed-income securities
    • Access to institutionally-oriented portfolio management teams 
    • Focus on participating in equity market upside while dampening downside risk 

    Investment Approach

    The Hennessy Equity and Income Fund's portfolio consists of 60% large-cap, value-oriented stocks and 40% high-quality fixed-income securities. The Portfolio Managers take a long-term perspective and maintain a primary focus on downside protection.

    The Equity Portfolio Management Team employs a research-driven approach, utilizing a proprietary Balance Sheet Optimization model. They run a focused, high-conviction portfolio, and maintain low turnover by selecting stocks with the following characteristics:

    - High return on capital

    - Consistent free cash flow generation

    - Earnings yield

    - Attractive and conservative valuations

    The Fixed Income Portfolio Management Team utilizes a rigorous, bottom-up selection process built upon continuous analysis. They believe that duration management is critical to buffering interest rate sensitivity and that sector allocation is an important factor in performance results. They seek to include fixed income securities with the following characteristics:

    - Low duration, intermediate-term

    - Primarily Treasuries, agencies, and high-quality corporate obligations

    - Average Credit Quality – A by Moody’s

    - Select non-investment grade obligations to enhance yield

    Portfolio Managers

    The Fund is sub-advised by The London Company (equity allocation) and FCI Advisors (fixed income allocation).

    The London Company, located in Richmond, VA, is a registered investment advisor providing equity portfolio management services to a diverse mix of corporations, trusts, foundations, endowments, pensions, banks, individuals, and mutual fund accounts since 1994.

    FCI Advisors, located in Kansas City, MO, is an independently owned investment adviser and has been providing investment advisory services since 1966.

    “We believe markets are much less efficient at assessing risk than reward.”

    - Steve Goddard

  • Insights & News

  • Performance

    Daily Pricing & Performance

    as of 3/31/20
    • Investor Class (HEIFX)
      • NAV

        $12.84

      • $ Change

        -$0.16

      • % Change

        -1.23%

      • YTD

        -14.79%

    • Institutional Class (HEIIX)
      • NAV

        $12.08

      • $ Change

        -$0.17

      • % Change

        -1.39%

      • YTD

        -14.70%

    Average Annualized Total Return

    as of 2/29/20
    Name 1 Mo YTD 1 yr 3 yr 5 yr 10 yr Since Inception (6/3/97)
    Investor Class (HEIFX) -5.99% -5.68% 3.16% 4.55% 3.74% 7.67% 6.55%
    Institutional Class (HEIIX) -5.95% -5.69% 3.47% 4.94% 4.13% 8.01% 6.77%
    Blended Balanced Index -4.37% -3.85% 8.77% 7.72% 6.90% 8.99% 6.79%
    S&P 500® Index -8.23% -8.27% 8.19% 9.87% 9.23% 12.65% 7.67%

    Please swipe to view table

    as of 12/31/19
    Name QTR YTD 1 yr 3 yr 5 yr 10 yr Since Inception (6/3/97)
    Investor Class (HEIFX) 4.02% 15.99% 15.99% 8.00% 5.34% 8.32% 6.88%
    Institutional Class (HEIIX) 4.12% 16.50% 16.50% 8.40% 5.75% 8.66% 7.10%
    Blended Balanced Index 5.54% 21.30% 21.30% 10.52% 8.17% 9.47% 7.02%
    S&P 500® Index 9.07% 31.49% 31.49% 15.27% 11.70% 13.56% 8.14%

    Please swipe to view table

    Hypothetical Growth of $10,000

    as of 2/29/2020

    Value of $10,000 invested between 2/28/2019 and 2/29/2020

    Equity and Income Fund (HEIFX) $10,316
    Equity and Income Fund (HEIIX) $10,347
    Blended Balanced Index $10,877
    S&P 500® Index $10,819

    Value of $10,000 invested between 2/28/2017 and 2/29/2020

    Equity and Income Fund (HEIFX) $11,429
    Equity and Income Fund (HEIIX) $11,556
    Blended Balanced Index $12,500
    S&P 500® Index $13,262

    Value of $10,000 invested between 2/28/2015 and 2/29/2020

    Equity and Income Fund (HEIFX) $12,012
    Equity and Income Fund (HEIIX) $12,243
    Blended Balanced Index $13,957
    S&P 500® Index $15,549

    Value of $10,000 invested between 2/28/2010 and 2/29/2020

    Equity and Income Fund (HEIFX) $20,942
    Equity and Income Fund (HEIIX) $21,609
    Blended Balanced Index $23,660
    S&P 500® Index $32,918

    Value of $10,000 invested between 6/3/1997 and 2/29/2020

    Equity and Income Fund (HEIFX) $42,359
    Equity and Income Fund (HEIIX) $44,389
    Blended Balanced Index $44,506
    S&P 500® Index $53,650

    This data illustrates the performance of a hypothetical $10,000 investment made in the Fund for the period noted, and it assumes reinvestment of dividends and capital gains. This chart does not imply future performance.

    Calendar Year Total Returns

      2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
    Investor Class (HEIFX)
    11.34 10.61 8.82 15.03 11.26 -2.62 5.73 13.51 -4.33 15.99
    Institutional Class (HEIIX)
    11.53 10.84 9.06 15.40 11.58 -2.25 6.19 13.88 -3.98 16.50
    Blended Balanced Index
    11.84 3.86 11.16 18.10 9.43 1.49 8.06 13.59 -2.01 21.30
    S&P 500® Index
    15.06 2.11 16.00 32.39 13.69 1.38 11.96 21.83 -4.38 31.49
    Year
    Investor Class (HEIFX)
    Institutional Class (HEIIX)
    Blended Balanced Index
    S&P 500® Index
    2009 18.43% 18.76% 18.11% 26.46%
    2008 -20.91% -20.73% -22.08% -37.00%
    2007 8.98% 9.33% 6.39% 5.49%
    2006 15.63% 15.87% 11.01% 15.79%
    2005 5.39% 5.58% 3.65% 4.91%
    2004 13.77% 13.99% 7.76% 10.88%
    2003 26.08% 26.48% 18.56% 28.68%
    2002 -14.63% -14.83% -9.96% -22.10%
    2001 2.46% 2.50% -3.53% -11.89%
    2000 11.18% 11.18% -1.53% -9.10%
    1999 6.67% 6.67% 12.54% 21.04%
    1998 -0.38% -0.38% 20.87% 28.58%

    Please swipe to view table

    Yield

    as of 2/29/20
    Investor Class (HEIFX) Institutional Class (HEIIX)
    Distribution Rate 0.98% 1.56%
    30-Day SEC Yield 0.70% 1.16%
    Distribution Frequency Quarterly Quarterly

    Please swipe to view table

    Returns-Based Statistics
    Relative to S&P 500® Index

    as of 12/31/19
    Investor Class (HEIFX)
    Type 3 yr 5 yr 10 yr
    Alpha -1.17 -1.76 0.74
    Beta 0.56 0.57 0.53
    Upside Capture 55.26 54.11 56.97
    Downside Capture 58.18 62.30 51.56
    Institutional Class (HEIIX)
    Type 3 yr 5 yr 10 yr
    Alpha -0.82 -1.40 1.05
    Beta 0.56 0.57 0.54
    Upside Capture 56.60 55.48 57.92
    Downside Capture 57.71 61.53 50.82

    Alpha measures the fund’s excess return relative to the return of the benchmark. Beta measures the volatility of the fund compared to that of the benchmark. The beta of the benchmark is 1.00. Capture ratios measure the fund’s overall performance in up markets (positive return periods) and down markets (negative return periods).

    Sharpe Ratio

    as of 12/31/19
    Type 3 yr 5 yr 10 yr
    Investor Class (HEIFX) 0.90 0.62 1.09
    Institutional Class (HEIIX) 0.95 0.67 1.13
    S&P 500® Index 1.10 0.90 1.04
    Allocation--50% to 70% Equity Category Average 0.88 0.67 0.85

    Sharpe Ratio is a measure of risk-adjusted return, reflecting the average return earned in excess of the risk-free rate per unit of volatility.

    Standard Deviation

    as of 12/31/19
    Type 3 yr 5 yr 10 yr
    Investor Class (HEIFX) 6.95 7.08 7.04
    Institutional Class (HEIIX) 6.97 7.10 7.05
    S&P 500® Index 12.10 11.98 12.46
    Allocation--50% to 70% Equity Category Average 7.33 7.40 8.09

    Standard deviation is a statistical measure of the historical volatility of a mutual fund or portfolio.

    Fund Expenses

    • Investor Class (HEIFX)
      • Gross expense ratio

        1.55%

    • Institutional Class (HEIIX)
      • Gross expense ratio

        1.18%

    Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted.

    Morningstar Proprietary Ratings reflect risk-adjusted performance as of 12/31/19. The Morningstar Rating for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Institutional Class (HEIIX) received 3 stars for the three-year, 3 stars for the five-year and 4 stars for the ten-year periods ended 12/31/19 / among 643, 570 and 420 Allocation--50% to 70% Equity Funds, respectively. Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in distribution percentage.

    Each Morningstar category average represents a universe of funds with similar objectives. The Morningstar Style Box reveals the fund's investment style as of 12/31/19. The vertical axis shows the market capitalization of the stocks owned and the horizontal axis shows investment style (value, blend, or growth). ©Morningstar, Inc. All Rights Reserved. Past performance is no guarantee of future results.

    The performance shown for the Investor Class / HEIFX for periods prior to 9/24/01 represents the performance of Institutional Class shares of the Fund and includes expenses that are not applicable to and are lower than those of Investor Class shares.

    The performance shown for periods prior to 10/26/12 is that of the predecessor FBR Fund.

    The Blended Balanced Index consists of 60% common stocks represented by the S&P 500® Index and 40% bonds represented by the Bloomberg Barclays Capital Intermediate U.S. Government/Credit Index.

    The S&P 500® Index is an unmanaged index commonly used to measure the performance of U.S. stocks. The Bloomberg Barclays U.S. Intermediate Gov/Credit Index is an unmanaged index commonly used to measure the performance of intermediate-term U.S. bonds. One cannot invest directly in an index.

    Distribution Rate reflects the investment income per share during the last 12 months divided by the share price at the end of the period, expressed as an annual percentage rate. It is calculated by annualizing the Fund’s most recent distribution. The annualized dividend yield may not reflect the actual yield an investor would receive. 30-Day SEC Yield is a standardized yield computed by dividing the net investment income per share earned during the past 30-day period by the share price at the end of the period, expressed as an annual percentage rate. The 30-Day SEC Yield should be regarded as an estimate of the Fund’s rate of recent investment income, and it may not equal the Fund’s actual distribution rate. Past yields are no guarantee of future yields.

    Fund holdings and sector allocations are subject to change and should not be considered a recommendation to buy or sell any security.

    Credit Quality Bond Ratings typically range from AAA/Aaa (highest) to D (lowest). The credit ratings shown are based on each portfolio security’s rating as generally provided by Moody’s. If a Moody’s rating is not available, then the rating is provided by Standard and Poor’s (“S&P”), a Nationally Recognized Statistical Rating Organization (“NRSRO”). The credit quality of the investments in the Fund’s portfolio does not apply to the stability or safety of the Fund.

  • Portfolio

    Portfolio Allocation

    as of 12/31/19
    Allocation % of Net Assets
    Equities 57.60%
    Fixed Income 35.10%
    Cash & Other 7.30%

    Portfolio Characteristics

    as of 12/31/19
    Inception Date (HEIFX) 9/24/01
    Inception Date (HEIIX) 6/3/97
    Total Fund Assets $152 Million
    Portfolio Turnover 19%
    Median Market Cap $69.6 Billion
    Median Price/Earnings 17.8x
    Median Price/Book 3.5x
    Effective Maturity 5.0 years
    Effective Duration 4.1 years

    Price/Earnings measures a stock’s price per share compared to earnings. Price/Book measures a stock’s price per share to book value. Portfolio Turnover and Price/Earnings shown reflect the trailing 12-month period.

    Equity Sector Weighting

    as of 12/31/19
    Fund
    Financials 13.1%
    Consumer Discretionary 9.9%
    Information Technology 8.5%
    Industrials 6.4%
    Communication Services 5.7%
    Materials 5.6%
    Consumer Staples 4.1%
    Health Care 2.6%
    Energy 1.7%

    Portfolio Holdings

    Top 10 Holdings

    as of 12/31/19
    Top 10 Equity Holdings Ticker % of Net Assets
    Apple, Inc. AAPL 4.5%
    Berkshire Hathaway, Inc. (Class B) BRK/B 4.1%
    Alphabet, Inc. (Class C) GOOG 3.2%
    Visa, Inc. V 2.4%
    Martin Marietta Materials, Inc. MLM 2.1%
    Nestle SA NSRGY 2.1%
    BlackRock, Inc. BLK 2.1%
    Alleghany Corp. Y 2.1%
    O'Reilly Automotive, Inc. ORLY 2.0%
    Norfolk Southern Corp. NSC 2.0%
    Total as % of Net Assets 26.7%

    Total Equity Holdings: 30
    Total Fixed-Income Holdings: 63

    as of 12/31/19
    Equity Holdings Ticker % of Net Assets
    Apple, Inc. AAPL 4.5%
    Berkshire Hathaway, Inc. (Class B) BRK/B 4.1%
    Alphabet, Inc. (Class C) GOOG 3.2%
    Visa, Inc. V 2.4%
    Martin Marietta Materials, Inc. MLM 2.1%
    Nestle SA NSRGY 2.1%
    BlackRock, Inc. BLK 2.1%
    Alleghany Corp. Y 2.1%
    O'Reilly Automotive, Inc. ORLY 2.0%
    Norfolk Southern Corp. NSC 2.0%
    Altria Group, Inc. MO 2.0%
    CarMax, Inc. KMX 2.0%
    The Home Depot, Inc. HD 1.9%
    Carnival Corp. CCL 1.8%
    Air Products & Chemicals, Inc. APD 1.8%
    NewMarket Corp. NEU 1.7%
    Progressive Corp. PGR 1.7%
    Chevron Corp. CVX 1.7%
    Cisco Systems, Inc. CSCO 1.7%
    Wells Fargo & Co. WFC 1.6%
    Fox Corp. FOXA 1.6%
    FedEx Corp. FDX 1.6%
    Southwest Airlines Co. LUV 1.5%
    The Charles Schwab Corp. SCHW 1.5%
    Pfizer, Inc. PFE 1.5%
    General Dynamics Corp. GD 1.3%
    Dollar Tree, Inc. DLTR 1.3%
    Bristol Myers Squibb BMY 1.1%
    Verizon Communications, Inc. VZ 1.0%
    Lowe's Companies, Inc. LOW 0.9%
    Total as % of Net Assets 57.7%
    Fixed Income Holdings Ticker % of Net Assets
    U.S. Treasury Note/Bond - 2 5/8% (11/15/20) 912828PC8 2.0%
    U.S. Treasury Bill - (07/31/26) 912828Y95 1.8%
    Fannie Mae Pool - AU4405 3138X33P5 1.4%
    U.S. Treasury Note/Bond - 1 3/4% (5/15/23) 912828VB3 1.3%
    U.S. Treasury Note/Bond - 2 3/4% (2/15/24) 912828B66 1.3%
    Bank of New Rok Mellon Corp. 3.25% (05/15/24) 110122BM9 1.1%
    Edwards Lifesciences - 4.3% (6/15/28) 28176EAD0 1.1%
    Raymond James Financial, Inc. - 3 5/8% (9/15/26) 754730AE9 1.0%
    Capital One Financial Corp. - 4 3/4% (7/15/21) 14040HAY1 1.0%
    Freddie Mac Gold Pool - Q11129 3132HMHE4 1.0%
    Freddie Mac Gold Pool - G61281 31335BM60 1.0%
    Diamond Finco 1/Finco 2 - 5.45% (6/15/23) 25272KAG8 0.9%
    Synovus Financial - 3.125% (11/01/22) 87161CAL9 0.9%
    Boardwalk Pipeline Partners - 4.45% (07/15/27) 096630AF5 0.8%
    Freddie Mac - 2% (10/27/23) 3134GARC0 0.8%
    U.S. Treasury Bill - (02/15/20) 912828W22 0.8%
    General Motors - 3.7% (5/9/23) 37045XBK1 0.7%
    U.S. Treasury Note/Bond - 3 5/8% (2/15/44) 912810RE0 0.7%
    U.S. Treasury Note/Bond - 4 1/4% (3/1/27) 00206RDQ2 0.7%
    American International Group, Inc. - 4 1/8% (2/15/24) 026874CY1 0.7%
    Canadian Natural Resources, Ltd. - 3.9% (2/1/25) 136385AV3 0.7%
    AngloGold Ashanti Holdings PLC - 5 1/8% (8/1/22) 03512TAC5 0.7%
    Alibaba Group - 3.6% (11/28/24) 01609WAQ5 0.7%
    Synchrony Financial - 3 3/4% (8/15/21) 87165BAC7 0.7%
    Fannie Mae - 1 1/2% (08/10/21) 3136G3U45 0.7%
    Discover Financial Services - 5.2% (4/27/22) 254709AG3 0.6%
    Freddie Mac Gold Pool - Q08238 3132GTPX9 0.6%
    Huntington Bancshares - 4% (5/15/25) 446150AM6 0.5%
    Husky Energy - 4% (04/15/24) 448055AK9 0.5%
    Raymond James Financial, Inc. - 5 5/8% (4/1/24) 754730AD1 0.5%
    FHLB - 2.75% (7/11/31) 3130A8M75 0.5%
    Willis Tower Watson - 3.6% (5/15/24) 970648AF8 0.5%
    Goldcorp, Inc. - 3 5/8% (6/9/21) 380956AF9 0.5%
    Paypal - 2.85% (10/01/29) 70450YAE3 0.5%
    Morgan Stanley - 5 1/2% (7/28/21) 61747WAL3 0.5%
    Cigna Corporation - 3 1/2% (6/15/24) 30219GAK4 0.5%
    Comerica - 2 1/2% (7/23/24) 20034DJA8 0.5%
    U.S. Treasury Bill - (07/31/21) 9128287F1 0.4%
    Activision Blizzard - 3.4% (06/15/27) 00507VAM1 0.3%
    AT & T - 1.625% (11/15/22) 912828TY6 0.3%
    AT&T - 3% (10/31/25) 9128285J5 0.3%
    Fannie Mae Pool - AJ3232 3138AUSW8 0.3%
    Fannie Mae Pool - MA0918 31418AAU2 0.3%
    Fannie Mae Pool - AB4300 31417AX61 0.3%
    Prudential Financial - 3.878% (03/27/28) 74432QCC7 0.3%
    Encana Corp. - 3.9% (11/15/21) 292505AJ3 0.3%
    Corning, Inc. - 6.85% (3/1/29) 219350AH8 0.2%
    Freddie Mac REMICS - 4016 NL 3137ANAJ4 0.2%
    Freddie Mac REMICS - 4322 DJ 3137B8MS3 0.2%
    Starbux - 4.45% (08/15/49) 855244AU3 0.1%
    Ginnie Mae - 2013-24 BD 38378FM72 0.1%
    Freddie Mac REMICS - 3928 HC 3137AEZ65 0.1%
    Fannie Mae Pool - 928831 31412L4Q0 0.1%
    Fannie Mae REMICS - 2013-52 MD 3136AEJ24 0.1%
    Fannie Mae REMICS - 2012-22 PA 3136A4AJ8 0.1%
    Fannie Mae REMICS - 2012-16 Y 3136A4RW1 0.1%
    Freddie Mac REMICS - 4309 JD 3137B7US6 0.1%
    Fannie Mae REMICS - 2010-134 DJ 31398SMH3 0.1%
    Freddie Mac Gold Pool - G02922 3128M4SK0 0.0%
    Freddie Mac REMICS - 4146 ML 3137AXGC1 0.0%
    Freddie Mac REMICS - 3870 NH 3137ABXJ5 0.0%
    Fannie Mae Pool - 829054 31407FBX7 0.0%
    Freddie Mac Gold Pool - G11740 31283K4Z8 0.0%
    Total as % of Net Assets 35.0%
    Preferred Holdings Ticker % of Net Assets
    CHS, Inc. - 7 1/2% 12542R803 0.1%
    Morgan Stanley - 6 3/8% 61761J406 0.1%
    Two Harbors Investment Corp - 7.625% 90187B309 0.1%
    Huntington Bancshares, Inc. - 6 1/4% 446150708 0.1%
    Chimera Investment Corp. - 8% 16934Q307 0.1%
    Synchrony Financial - 5.625% 87165B202 0.1%
    Royal Bank of Scotland - 0% (06/21/13) 020002127 0.1%
    Enbridge, Inc. - 6 3/8% 29250N477 0.1%
    AT & T - 5.625% 00206R409 0.1%
    Arch Capital Group - 5.45% 03939A107 0.1%
    Capital One Financial Corp. - 5.0% 14040H824 0.1%
    Regions Financial Corp. - 6 3/8% 7591EP506 0.1%
    MetLife - 5.6275% 59156R876 0.1%
    Investco Mortgage Capital - 7.5% 46131B506 0.1%
    Wells Fargo & Co. - 5 1/2% 94988U672 0.1%
    Capital One Financial Corp. - 6% 14040H840 0.1%
    Annaly Capital Management - 6.95% 035710870 0.1%
    State Street Corp. - 5.9% 857477608 0.1%
    KeyCorp - 6 1/8% 493267702 0.1%
    Wells Fargo & Co. - 6% 94988U730 0.1%
    Truist Financial Corp. - 5.2% 89832Q851 0.1%
    American International Group - 5.85% 026874768 0.1%
    Hartford Financial - 6% 416518603 0.1%
    Monmouth Real Estate Investment Corp. - 6.125% 609720404 0.1%
    Southern Co. - 6 1/4% 842587206 0.1%
    Citigroup, Inc. - 6.3% 172967317 0.1%
    JPMorgan Chase & Co. - 6.15% 48127V827 0.1%
    Bank of America Corp - 6% 060505229 0.1%
    Vornado Realty Trust - 5 1/4% 929042828 0.1%
    AXA Equitable Holdings - 5.25% 054561204 0.1%
    First Republic Bank - 5 1/2% 33616C837 0.1%
    U.S. Bancorp - 6 1/2% 902973833 0.1%
    Citizens Financial Group - 6.35% 174610204 0.1%
    SVB Financial Group - 5.25% 78486Q200 0.1%
    Allstate - 5.1% 020002838 0.1%
    Goldman Sachs Group, Inc. - 6.3% 38148B504 0.1%
    Goldman Sachs Group, Inc. - 6 3/8% 38148B108 0.1%
    Kimco Realty Corp. - 5 1/4% 49446R711 0.1%
    Axis Capital Holdings - 5.50% 05461T305 0.1%
    Charles Schwab Corp. - 6% 808513402 0.0%
    Truist Financial Corp. - 5 5/8% 89832Q836 0.0%
    Chimera Investment Corp. - 8% 16934Q406 0.0%
    JPMorgan Chase & Co. - 4.75% 48128B622 0.0%
    Citigroup - 6.875% 172967341 0.0%
    Bank of America - 6.2% 060505286 0.0%
    Legg Mason, Inc. - 5.45% 524901600 0.0%
    Synovus - 5.875% 87161C709 0.0%
    ING Groep NV - 6 1/8% 456837509 0.0%
    Prudential - 5.625% 744320805 0.0%
    Synovus - 6.25% 87161C600 0.0%
    IBERIABANK Corp. - 6 5/8% 450828207 0.0%
    Agilent Technologies. Inc. - 5% (7/15/20) 493267876 0.0%
    TCF Financial - 5.7% 872307202 0.0%
    Legg Mason, Inc. - 6 3/8% 524901501 0.0%
    BancorpSouth Bank - 5.5% 05971J201 0.0%
    IBERIABANK Corp. - 6.1% 450828702 0.0%
    Public Storage - 5.4% 74460W776 0.0%
    Northern Trust Corp. - 4.7% 665859856 0.0%
    Webster Financial Corp - 5 1/4% 947890505 0.0%
    Total as % of Net Assets 3.8%
    Cash & Other Holdings % of Net Assets
    Cash & Other 3.6%
    Total as % of Net Assets 3.6%

    Country Allocation

    as of 12/31/19
    • United States

      85.9%

    • Foreign

      6.8%

    • Cash & Other

      7.3%

    United States 85.9%
    Switzerland 2.1%
    Panama 1.8%
    Canada 1.5%
    Cayman Islands 0.7%
    Isle of Man 0.7%
    Cash & Other 7.3%

    Quality Distribution

    as of 12/31/19
    Aaa/AAA 48.8%
    Aa/AA 0.0%
    A 8.6%
    Baa/BBB 33.4%
    Below Baa/BBB 0.8%
    N/A 5.8%
    Non-rated 2.8%
  • Distributions

    The Hennessy Equity and Income Fund pays capital gains (if any) once annually, usually in December. Ordinary income distributions are paid quarterly, at the end of March, June, September, and December.

    Date Paid Income Short-Term Gain Long-Term Gain Total Per Share Reinvest Price
    03/31/2020 $0.05230 -- -- $0.05230 $12.84
    12/27/2019 $0.03530 -- -- $0.03530 $15.15
    12/06/2019 -- -- $0.99889 $0.99889 $15.01
    09/30/2019 $0.03879 -- -- $0.03879 $15.55
    06/28/2019 $0.04382 -- -- $0.04382 $15.36
    03/29/2019 $0.05402 -- -- $0.05402 $15.10
    12/27/2018 $0.03034 -- -- $0.03034 $13.98
    12/07/2018 -- $0.00988 $1.12438 $1.13426 $14.39
    09/28/2018 $0.03365 -- -- $0.03365 $16.52
    06/29/2018 $0.03238 -- -- $0.03238 $15.72
    03/29/2018 $0.04376 -- -- $0.04376 $15.74
    12/27/2017 $0.02788 -- -- $0.02788 $16.04
    12/07/2017 -- -- $0.83721 $0.83721 $15.87
    09/29/2017 $0.02783 -- -- $0.02783 $16.13
    06/30/2017 $0.02750 -- -- $0.02750 $15.69
    03/31/2017 $0.03479 -- -- $0.03479 $15.42
    12/28/2016 $0.03026 -- -- $0.03026 $14.97
    12/07/2016 -- -- $1.33654 $1.33654 $15.05
    09/30/2016 $0.02778 -- -- $0.02778 $15.87
    06/30/2016 $0.03392 -- -- $0.03392 $15.85
    03/31/2016 $0.03288 -- -- $0.03288 $15.59
    12/29/2015 $0.03720 -- -- $0.03720 $15.67
    12/09/2015 -- -- $0.38708 $0.38708 $15.64
    09/30/2015 $0.03017 -- -- $0.03017 $15.47
    06/30/2015 $0.03304 -- -- $0.03304 $16.34
    03/31/2015 $0.03383 -- -- $0.03383 $16.51
    12/31/2014 $0.03361 -- -- $0.03361 $16.48
    12/08/2014 -- $0.00476 $0.63992 $0.64468 $16.46
    09/30/2014 $0.03877 -- -- $0.03877 $16.39
    06/30/2014 $0.03886 -- -- $0.03886 $16.37
    03/31/2014 $0.04441 -- -- $0.04441 $15.82
    12/31/2013 $0.03803 -- -- $0.03803 $15.54
    12/10/2013 -- -- $0.49682 $0.49682 $15.41
    09/30/2013 $0.05030 -- -- $0.05030 $15.27
    06/28/2013 $0.04402 -- -- $0.04402 $15.03
    03/28/2013 $0.02552 -- -- $0.02552 $14.95
    12/31/2012 $0.10560 -- -- $0.10560 $14.09
    09/28/2012 $0.04241 -- -- $0.04241 $14.04
    06/29/2012 $0.04351 -- -- $0.04351 $13.91
    03/30/2012 $0.04654 -- -- $0.04654 $13.83
    12/30/2011 $0.06327 -- -- $0.06327 $13.17
    09/30/2011 $0.05228 -- -- $0.05228 $12.21
    06/30/2011 $0.07319 -- -- $0.07319 $12.81
    03/31/2011 $0.07897 -- -- $0.07897 $12.56
    12/31/2010 $0.06906 -- -- $0.06906 $12.16
    09/30/2010 $0.08956 -- -- $0.08956 $11.69
    06/30/2010 $0.07191 -- -- $0.07191 $10.87
    03/10/2010 $0.14560 -- -- $0.14560 $11.40
    09/29/2009 $0.07930 -- -- $0.07930 $10.73
    06/29/2009 $0.06720 -- -- $0.06720 $9.76
    03/30/2009 $0.05550 -- -- $0.05550 $8.85
    12/30/2008 $0.05180 -- -- $0.05180 $9.66
    09/29/2008 $0.08250 -- -- $0.08250 $11.04
    06/27/2008 $0.08660 $0.09590 $0.07110 $0.25360 $11.53
    03/28/2008 $0.07230 -- -- $0.07230 $12.25
    12/19/2007 $0.10130 $0.29740 $2.04260 $2.44130 $12.76
    09/28/2007 $0.10750 -- -- $0.10750 $15.21
    06/29/2007 $0.08930 $0.04010 $0.19180 $0.32120 $15.01
    03/30/2007 $0.08650 -- -- $0.08650 $14.48
    12/29/2006 $0.08300 -- $0.16240 $0.24540 $14.49
    09/29/2006 $0.08300 -- -- $0.08300 $14.01
    06/30/2006 $0.08000 -- -- $0.08000 $13.70
    03/31/2006 $0.07900 -- -- $0.07900 $13.48
    12/30/2005 $0.09400 -- -- $0.09400 $12.97
    09/30/2005 $0.09300 -- -- $0.09300 $13.10
    06/30/2005 $0.09800 -- -- $0.09800 $12.66
    03/31/2005 $0.06900 -- -- $0.06900 $12.58
    12/31/2004 $0.10200 -- -- $0.10200 $12.65
    09/30/2004 $0.08800 -- -- $0.08800 $12.07
    06/30/2004 $0.09200 -- -- $0.09200 $11.94
    03/31/2004 $0.09500 -- -- $0.09500 $11.69
    12/31/2003 $0.08900 -- -- $0.08900 $11.47
    09/30/2003 $0.08200 -- -- $0.08200 $10.69
    06/30/2003 $0.05200 -- -- $0.05200 $10.49
    03/31/2003 $0.06600 -- -- $0.06600 $9.30
    12/31/2002 $0.06500 -- -- $0.06500 $9.35
    09/25/2002 $0.07000 -- -- $0.07000 $8.94
    06/26/2002 $0.06000 -- -- $0.06000 $10.09
    03/27/2002 $0.06000 -- -- $0.06000 $11.43
    12/28/2001 $0.05940 -- -- $0.05940 $11.38
    09/26/2001 $0.00640 -- -- $0.00640 $9.92

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    Past performance is not a guarantee of future results.

    Download historical distributions and NAVs
    Date Paid Income Short-Term Gain Long-Term Gain Total Per Share Reinvest Price
    03/31/2020 $0.06728 -- -- $0.06728 $12.08
    12/27/2019 $0.05265 -- -- $0.05265 $14.26
    12/06/2019 -- -- $0.94088 $0.94088 $14.14
    09/30/2019 $0.05369 -- -- $0.05369 $14.64
    06/28/2019 $0.05820 -- -- $0.05820 $14.46
    03/29/2019 $0.06936 -- -- $0.06936 $14.23
    12/27/2018 $0.05691 -- -- $0.05691 $13.17
    12/07/2018 -- $0.00932 $1.06068 $1.07000 $13.58
    09/28/2018 $0.04981 -- -- $0.04981 $15.58
    06/29/2018 $0.04913 -- -- $0.04913 $14.83
    03/29/2018 $0.06070 -- -- $0.06070 $14.85
    12/27/2017 $0.04459 -- -- $0.04459 $15.14
    12/07/2017 -- -- $0.79119 $0.79119 $14.99
    09/29/2017 $0.04408 -- -- $0.04408 $15.23
    06/30/2017 $0.04284 -- -- $0.04284 $14.82
    03/31/2017 $0.05044 -- -- $0.05044 $14.56
    12/28/2016 $0.04636 -- -- $0.04636 $14.14
    12/07/2016 -- -- $1.26622 $1.26622 $14.23
    09/30/2016 $0.04457 -- -- $0.04457 $15.00
    06/30/2016 $0.05140 -- -- $0.05140 $14.98
    03/31/2016 $0.04864 -- -- $0.04864 $14.75
    12/29/2015 $0.05209 -- -- $0.05209 $14.82
    12/09/2015 -- -- $0.36612 $0.36612 $14.81
    09/30/2015 $0.04894 -- -- $0.04894 $14.64
    06/30/2015 $0.04792 -- -- $0.04792 $15.46
    03/31/2015 $0.04696 -- -- $0.04696 $15.63
    12/31/2014 $0.04620 -- -- $0.04620 $15.60
    12/08/2014 -- $0.00451 $0.60674 $0.61125 $15.59
    09/30/2014 $0.05055 -- -- $0.05055 $15.52
    06/30/2014 $0.04906 -- -- $0.04906 $15.51
    03/31/2014 $0.05471 -- -- $0.05471 $14.99
    12/31/2013 $0.04919 -- -- $0.04919 $14.72
    12/10/2013 -- -- $0.49682 $0.49682 $14.61
    09/30/2013 $0.05905 -- -- $0.05905 $14.49
    06/28/2013 $0.05310 -- -- $0.05310 $14.26
    03/28/2013 $0.03576 -- -- $0.03576 $14.19
    12/31/2012 $0.13870 -- -- $0.13870 $13.37
    09/28/2012 $0.05218 -- -- $0.05218 $13.36
    06/29/2012 $0.04780 -- -- $0.04780 $13.24
    03/30/2012 $0.05319 -- -- $0.05319 $13.16
    12/30/2011 $0.07334 -- -- $0.07334 $12.53
    09/30/2011 $0.06200 -- -- $0.06200 $11.63
    06/30/2011 $0.08090 -- -- $0.08090 $12.20
    03/31/2011 $0.08649 -- -- $0.08649 $11.97
    12/31/2010 $0.07644 -- -- $0.07644 $11.59
    09/30/2010 $0.09675 -- -- $0.09675 $11.15
    06/30/2010 $0.07421 -- -- $0.07421 $10.38
    03/31/2010 $0.00897 -- -- $0.00897 $10.99
    03/10/2010 $0.15810 -- -- $0.15810 $10.88
    09/29/2009 $0.08540 -- -- $0.08540 $10.25
    06/29/2009 $0.07300 -- -- $0.07300 $9.32
    03/30/2009 $0.06120 -- -- $0.06120 $8.46
    12/30/2008 $0.05790 -- -- $0.05790 $9.23
    09/29/2008 $0.08940 -- -- $0.08940 $10.56
    06/27/2008 $0.09410 $0.09590 $0.07110 $0.26110 $11.03
    03/28/2008 $0.07920 -- -- $0.07920 $11.73
    12/19/2007 $0.11130 $0.29740 $2.04260 $2.45130 $12.21
    09/28/2007 $0.11740 -- -- $0.11740 $14.67
    06/29/2007 $0.09870 $0.04010 $0.19180 $0.33060 $14.49
    03/30/2007 $0.09630 -- -- $0.09630 $13.98
    12/29/2006 $0.09900 -- $0.16240 $0.26140 $13.99
    09/29/2006 $0.09400 -- -- $0.09400 $13.54
    06/30/2006 $0.08900 -- -- $0.08900 $13.25
    03/31/2006 $0.08600 -- -- $0.08600 $13.04
    12/30/2005 $0.10400 -- -- $0.10400 $12.55
    09/30/2005 $0.10200 -- -- $0.10200 $12.68
    06/30/2005 $0.10900 -- -- $0.10900 $12.27
    03/31/2005 $0.08100 -- -- $0.08100 $12.19
    12/31/2004 $0.11600 -- -- $0.11600 $12.27
    09/30/2004 $0.10200 -- -- $0.10200 $11.72
    06/30/2004 $0.11400 -- -- $0.11400 $11.59
    03/31/2004 $0.11500 -- -- $0.11500 $11.37
    12/31/2003 $0.11800 -- -- $0.11800 $11.18
    09/30/2003 $0.10900 -- -- $0.10900 $10.44
    06/30/2003 $0.10400 -- -- $0.10400 $10.27
    03/31/2003 $0.07300 -- -- $0.07300 $9.14
    12/31/2002 $0.07200 -- -- $0.07200 $9.19
    09/25/2002 $0.08000 -- -- $0.08000 $8.79
    06/26/2002 $0.08000 -- -- $0.08000 $9.97
    03/27/2002 $0.07000 -- -- $0.07000 $11.32
    12/28/2001 $0.11370 -- -- $0.11370 $11.27
    09/26/2001 $0.06000 -- -- $0.06000 $9.87
    06/28/2001 $0.11000 -- -- $0.11000 --

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    Past performance is not a guarantee of future results.

    Download historical distributions and NAVs
  • Fund Documents

    Download PDF View Online
    Fund Documents
    Equity and Income Fund Fact Sheet
    Equity and Income Fund Portfolio Manager Commentary View
    Equity and Income Fund Summary Prospectus
    Full Prospectus
    Statement of Additional Information
    Shareholder Reports
    Equity and Income Fund Semi-Annual Report
    Equity and Income Fund Annual Report