There are two factors, rise/fall times and propagation delay.
CMOS is basically a current source output, so the output risetime is dependent on the load capacitance. HC has an asymmetrical output current capability, so that affects the max freq. At low frequencies the output is a trapezoid. You could say the highest freq is when either the top or bottom of the trapezoid collapses to a point.
Another factor is propagation delay. All CMOS oscillators are Schmitt Trigger designs, so the 1 or 2 gate delays create a hard limit on the max freq.
I've done 4.096 MHz, but that was with AC parts. The AC product line does not have nearly as many parts as HC, and they run on 3.3 V to 5 V only, but they are outstanding performers. Love the 20 mA output stage.
ak