HNMDX Performance — Heartland Mid Cap Value Fund, Institutional Class
Data updated: 2026-08-21
HNMDX returned +14.54% year to date and +14.21% over one year to Jun 2026. Annualised returns are +7.88% over 3 years and +6.87% over 5 years. The fund trailed its US Mid-Cap Value category average: $100 invested three years ago grew to $126, against $148 for the category, and to $114 over one year, against $120. Volatility over the past three years was 14.31% a year. In the 12 months to Jun 2026 the fund lost a net $114.6M, and assets reached $495.96M.
HNMDX Growth of $100
What $100 invested in Heartland Mid Cap Value Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Mid-Cap Value category average over the same months.
| Period | HNMDX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $114 | $120 |
| 3 years (Jul 2023 – Jun 2026) | $126 | $148 |
| 5 years (Jul 2021 – Jun 2026) | $139 | $154 |
| Since data start (Jul 2019 – Jun 2026) | $195 | $212 |
HNMDX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +14.54% |
| 1 year | +14.21% |
| 3 years (annualised) | +7.88% |
| 5 years (annualised) | +6.87% |
HNMDX Annual Returns
Calendar-year total returns of Heartland Mid Cap Value Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +14.54% |
| 2025 | +0.37% |
| 2024 | +3.82% |
| 2023 | +13.73% |
| 2022 | −2.77% |
| 2021 | +28.40% |
| 2020 | +7.19% |
| 2019 (Jul–Dec) | +7.61% |
HNMDX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +6.2% | +6.4% | −7.8% | +7.0% | −1.4% | +4.3% | — | — | — | — | — | — |
| 2025 | +2.4% | −0.1% | −1.5% | −5.3% | +2.9% | +2.6% | −0.8% | +2.7% | −0.2% | −2.6% | +0.3% | +0.4% |
| 2024 | −2.0% | +2.1% | +5.6% | −4.9% | +1.9% | −1.1% | +6.0% | +1.8% | +0.5% | −3.0% | +5.4% | −7.5% |
| 2023 | +7.9% | −2.5% | −1.9% | +0.5% | −3.6% | +8.3% | +5.3% | −3.2% | −4.1% | −4.0% | +5.9% | +5.8% |
| 2022 | −2.7% | +1.3% | +2.5% | −5.4% | +2.2% | −6.6% | +7.2% | −4.1% | −7.6% | +12.4% | +5.1% | −4.9% |
| 2021 | +0.2% | +8.0% | +7.0% | +5.7% | +0.5% | −1.2% | +0.8% | +0.8% | −1.7% | +3.7% | −4.6% | +7.0% |
| 2020 | −4.5% | −9.9% | −20.5% | +14.0% | +5.0% | +1.1% | +2.3% | +3.4% | −2.4% | +3.8% | +14.9% | +5.3% |
| 2019 | — | — | — | — | — | — | +1.0% | −5.3% | +4.2% | +1.4% | +2.4% | +4.0% |
HNMDX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 14.31%
- 3-year Sharpe ratio: 0.24 (vs 4.5% risk-free rate)
- Best month: +6.95% (Apr 2026)
- Worst month: −7.81% (Mar 2026)
HNMDX Fund Flows
Monthly money in and out of Heartland Mid Cap Value Fund, from SEC Form N-PORT.
- 12-month net flow: −$114.6M
- 12-month gross sales (incl. reinvestments): $70.5M
- Sales ÷ redemptions: 0.38×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $3.0M | $5.5M | −$2.5M |
| May 2026 | $6.4M | $8.0M | −$1.6M |
| Apr 2026 | $3.2M | $9.3M | −$6.1M |
| Mar 2026 | $3.1M | $13.2M | −$10.1M |
| Feb 2026 | $10.3M | $18.1M | −$7.8M |
| Jan 2026 | $11.3M | $23.6M | −$12.3M |
| Dec 2025 | $12.5M | $22.2M | −$9.7M |
| Nov 2025 | $1.2M | $13.5M | −$12.3M |
| Oct 2025 | $2.6M | $12.4M | −$9.8M |
| Sep 2025 | $8.1M | $19.4M | −$11.3M |
| Aug 2025 | $3.5M | $24.1M | −$20.6M |
| Jul 2025 | $5.4M | $16.0M | −$10.6M |
HNMDX Assets Under Management
Net assets of Heartland Mid Cap Value Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $495.96M |
| 2026-03-31 | $460.69M |
| 2025-12-31 | $470.69M |
| 2025-09-30 | $523.30M |
| 2025-06-30 | $556.99M |
| 2025-03-31 | $541.45M |
| 2024-12-31 | $592.51M |
| 2024-09-30 | $663.03M |
| 2024-06-30 | $622.55M |
| 2024-03-31 | $654.63M |
| 2023-12-31 | $626.88M |
| 2023-09-30 | $536.08M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.