Tommy: Pleased to meet you phenergan mg/ml Hedge funds have underperformed the S&P 500 every year since 2009. Kingpins like Ken Griffin of Citadel and John Paulson of Paulson & Co. suffered painful losses. This year, Hedge funds returned an average of nearly 4 percent as of June 30, compared with almost 13 percent for the S&P 500, according to HFR, but even that assessment might be generous. Hedge funds don't have to disclose much about their operations. Performance estimates are compiled from funds that volunteer to share information. Funds that do poorly often don't give results, and those that shut down usually aren't included.