CHGX vs. HCMT

Last updated Jun 4, 2026

CHGX (Change Finance U.S. Large Cap Fossil Fuel Free ETF) and HCMT (Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF) are both exchange-traded funds - CHGX is a Large Cap Growth Equities fund tracking the Change Finance Diversified Impact U.S. Large Cap Fossil Fuel Free Index, while HCMT is a Large Cap Blend Equities fund actively managed by Direxion. CHGX is passively managed, while HCMT is actively managed. Over the past year, CHGX returned 33.91% vs 43.14% for HCMT. Their correlation of 0.82 suggests significant overlap in exposure. CHGX charges 0.49%/yr vs 1.17%/yr for HCMT.

Performance

CHGX vs. HCMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Change Finance U.S. Large Cap Fossil Fuel Free ETF (CHGX) and Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF (HCMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CHGX achieves a 22.80% return, which is significantly higher than HCMT's 11.17% return.

CHGX

• 1D: -0.37%
• 1M: 10.61%
• YTD: 22.80%
• 6M: 22.28%
• 1Y: 33.91%
• 3Y*: 21.19%
• 5Y*: 11.13%
• 10Y*: —

HCMT

• 1D: -0.89%
• 1M: 14.82%
• YTD: 11.17%
• 6M: 9.27%
• 1Y: 43.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CHGX vs. HCMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF	22.80%	12.13%	15.16%	9.55%
HCMT Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF	11.17%	7.39%	39.14%	5.67%

Correlation

The correlation between CHGX and HCMT is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023	0.82

The correlation between CHGX and HCMT has been stable across timeframes, ranging from 0.77 to 0.82 - a consistent structural relationship.

CHGX vs. HCMT - Sectors Allocation Comparison

Sectors	CHGX	HCMT
Technology	29.7%	12.9%
Financial Services	17.7%	3.8%
Healthcare	15.7%	2.8%
Consumer Cyclical	12.0%	3.3%
Communication Services	8.9%	3.6%
Industrials	5.8%	2.6%
Real Estate	4.1%	0.6%
Basic Materials	3.3%	0.6%
Consumer Defensive	2.9%	1.6%
Energy	2.2%	1.1%
Utilities	1.0%	0.9%

Return for Risk

CHGX vs. HCMT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CHGX

CHGX Risk / Return Rank: 76
CHGX Sharpe Ratio Rank: 76
CHGX Sortino Ratio Rank: 77
CHGX Omega Ratio Rank: 70
CHGX Calmar Ratio Rank: 78
CHGX Martin Ratio Rank: 80

HCMT

HCMT Risk / Return Rank: 49
HCMT Sharpe Ratio Rank: 52
HCMT Sortino Ratio Rank: 46
HCMT Omega Ratio Rank: 48
HCMT Calmar Ratio Rank: 57
HCMT Martin Ratio Rank: 44

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CHGX vs. HCMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Change Finance U.S. Large Cap Fossil Fuel Free ETF (CHGX) and Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF (HCMT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CHGX	HCMT	Difference
Sharpe ratio: Return per unit of total volatility	2.49	1.79	+0.70
Sortino ratio: Return per unit of downside risk	3.44	2.30	+1.14
Omega ratio: Gain probability vs. loss probability	1.42	1.31	+0.11
Calmar ratio: Return relative to maximum drawdown	4.01	2.84	+1.17
Martin ratio: Return relative to average drawdown	15.81	7.19	+8.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CHGX vs. HCMT - Sharpe Ratio Comparison

The current CHGX Sharpe Ratio is 2.49, which is higher than the HCMT Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of CHGX and HCMT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CHGX	HCMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	1.79	+0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.74	-0.03

Drawdowns

CHGX vs. HCMT - Drawdown Comparison

The maximum CHGX drawdown since its inception was -35.49%, roughly equal to the maximum HCMT drawdown of -36.26%. Use the drawdown chart below to compare losses from any high point for CHGX and HCMT.

Drawdown Indicators

	CHGX	HCMT	Difference
Max Drawdown Largest peak-to-trough decline	-35.49%	-36.26%	+0.77%
Max Drawdown (1Y) Largest decline over 1 year	-8.50%	-15.27%	+6.77%
Max Drawdown (3Y) Largest decline over 3 years	-18.09%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.26%	—	—
Current Drawdown Current decline from peak	-0.37%	-0.89%	+0.52%
Average Drawdown Average peak-to-trough decline	-6.43%	-8.24%	+1.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	6.01%	-3.86%

Volatility

CHGX vs. HCMT - Volatility Comparison

The current volatility for Change Finance U.S. Large Cap Fossil Fuel Free ETF (CHGX) is 3.97%, while Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF (HCMT) has a volatility of 5.80%. This indicates that CHGX experiences smaller price fluctuations and is considered to be less risky than HCMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CHGX	HCMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.97%	5.80%	-1.83%
Volatility (6M) Calculated over the trailing 6-month period	10.67%	16.58%	-5.91%
Volatility (1Y) Calculated over the trailing 1-year period	13.70%	24.21%	-10.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.58%	28.48%	-10.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.35%	28.48%	-9.13%

CHGX vs. HCMT - Expense Ratio Comparison

CHGX has a 0.49% expense ratio, which is lower than HCMT's 1.17% expense ratio.

Dividends

CHGX vs. HCMT - Dividend Comparison

CHGX's dividend yield for the trailing twelve months is around 0.55%, more than HCMT's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF	0.55%	0.67%	0.76%	0.94%	1.11%	0.56%	0.58%	0.86%	0.00%	0.59%
HCMT Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF	0.38%	0.43%	2.75%	0.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CHGX and HCMT in my portfolio?

CHGX and HCMT have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CHGX or HCMT?

HCMT has higher volatility (5.80%) compared to CHGX (3.97%). In terms of maximum drawdown, CHGX dropped -35.49% vs HCMT's -36.26%.

Which ETF is better, CHGX or HCMT?

On 1-year performance, HCMT leads with 43.14% vs 33.91% for CHGX. On fees, CHGX is cheaper at 0.49% per year. On volatility, CHGX has been the lower-risk option at 3.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CHGX or HCMT?

Over the 1-year period, HCMT has performed better with a 43.14% return vs 33.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CHGX or HCMT?

CHGX is cheaper with a 0.49% expense ratio, compared with 1.17% for HCMT.

Which ETF pays a higher dividend yield, CHGX or HCMT?

CHGX has the higher dividend yield at 0.55%, compared with 0.38% for HCMT.

What is the main difference between CHGX and HCMT?

CHGX is categorized as Large Cap Growth Equities, while HCMT is Large Cap Blend Equities. They also come from different issuers: Change Finance and Direxion. Their fees differ too: 0.49% for CHGX and 1.17% for HCMT.

Which has better risk-adjusted returns?

CHGX currently has the higher Sharpe Ratio (2.49 vs 1.79), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.