GEQIX vs. HDCTX

Last updated Jun 26, 2026

GEQIX (Glenmede Equity Income Portfolio) and HDCTX (Rational Equity Armor Fund) are both Large Cap Value Equities funds. Over the past 5 years, GEQIX returned 7.89%/yr vs 6.76%/yr for HDCTX. A 0.69 correlation means they provide meaningful diversification when combined. GEQIX charges 0.85%/yr vs 1.17%/yr for HDCTX.

Performance

GEQIX vs. HDCTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Glenmede Equity Income Portfolio (GEQIX) and Rational Equity Armor Fund (HDCTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with GEQIX having a 8.20% return and HDCTX slightly lower at 7.82%.

GEQIX

• 1D: 0.07%
• 1M: 1.57%
• YTD: 8.20%
• 6M: 6.96%
• 1Y: 15.03%
• 3Y*: 11.35%
• 5Y*: 7.89%
• 10Y*: —

HDCTX

• 1D: -0.34%
• 1M: -2.36%
• YTD: 7.82%
• 6M: 6.25%
• 1Y: 16.82%
• 3Y*: 14.22%
• 5Y*: 6.76%
• 10Y*: 5.27%

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

GEQIX vs. HDCTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GEQIX Glenmede Equity Income Portfolio	8.20%	10.27%	8.75%	7.85%	-5.20%	27.51%	6.72%	25.12%	-5.44%	17.58%
HDCTX Rational Equity Armor Fund	7.82%	12.64%	16.85%	2.95%	-10.68%	14.52%	15.85%	11.32%	-11.94%	-1.99%

Correlation

The correlation between GEQIX and HDCTX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.69

Over the past year, the correlation between GEQIX and HDCTX has dropped to 0.42 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.

Return for Risk

GEQIX vs. HDCTX — Risk / Return Rank

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

GEQIX

GEQIX Risk / Return Rank: 37
GEQIX Sharpe Ratio Rank: 31
GEQIX Sortino Ratio Rank: 32
GEQIX Omega Ratio Rank: 28
GEQIX Calmar Ratio Rank: 49
GEQIX Martin Ratio Rank: 43

HDCTX

HDCTX Risk / Return Rank: 46
HDCTX Sharpe Ratio Rank: 50
HDCTX Sortino Ratio Rank: 52
HDCTX Omega Ratio Rank: 46
HDCTX Calmar Ratio Rank: 51
HDCTX Martin Ratio Rank: 31

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.

GEQIX vs. HDCTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Glenmede Equity Income Portfolio (GEQIX) and Rational Equity Armor Fund (HDCTX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	GEQIX	HDCTX	Difference
Sharpe ratio: Return per unit of total volatility	1.32	1.71	-0.39
Sortino ratio: Return per unit of downside risk	1.94	2.48	-0.54
Omega ratio: Gain probability vs. loss probability	1.23	1.30	-0.07
Calmar ratio: Return relative to maximum drawdown	2.29	2.36	-0.07
Martin ratio: Return relative to average drawdown	7.83	6.08	+1.75

GEQIX vs. HDCTX - Sharpe Ratio Comparison

The current GEQIX Sharpe Ratio is 1.32, which is comparable to the HDCTX Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of GEQIX and HDCTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GEQIX vs. HDCTX - Drawdown Comparison

The maximum GEQIX drawdown since its inception was -35.47%, smaller than the maximum HDCTX drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for GEQIX and HDCTX.

Drawdown Indicators

	GEQIX	HDCTX	Difference
Max Drawdown Largest peak-to-trough decline	-35.47%	-59.05%	+23.58%
Max Drawdown (1Y) Largest decline over 1 year	-6.31%	-6.95%	+0.64%
Max Drawdown (3Y) Largest decline over 3 years	-15.46%	-11.74%	-3.72%
Max Drawdown (5Y) Largest decline over 5 years	-17.82%	-18.22%	+0.40%
Max Drawdown (10Y) Largest decline over 10 years	—	-19.43%	—
Current Drawdown Current decline from peak	-1.19%	-3.89%	+2.70%
Average Drawdown Average peak-to-trough decline	-3.91%	-6.40%	+2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	2.70%	-0.86%

Volatility

GEQIX vs. HDCTX - Volatility Comparison

Glenmede Equity Income Portfolio (GEQIX) and Rational Equity Armor Fund (HDCTX) have volatilities of 3.09% and 2.97%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GEQIX	HDCTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.09%	2.97%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	8.15%	7.19%	+0.96%
Volatility (1Y) Calculated over the trailing 1-year period	11.00%	9.67%	+1.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.03%	10.67%	+3.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.95%	11.55%	+5.40%

GEQIX vs. HDCTX - Expense Ratio Comparison

GEQIX has a 0.85% expense ratio, which is lower than HDCTX's 1.17% expense ratio.

Dividends

GEQIX vs. HDCTX - Dividend Comparison

GEQIX's dividend yield for the trailing twelve months is around 14.95%, more than HDCTX's 0.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GEQIX Glenmede Equity Income Portfolio	14.95%	16.18%	9.08%	7.50%	4.42%	5.90%	1.98%	1.92%	4.76%	1.49%	0.00%	0.00%
HDCTX Rational Equity Armor Fund	0.19%	0.00%	0.00%	0.17%	0.78%	1.21%	1.10%	5.37%	7.86%	5.60%	3.28%	15.32%

Frequently Asked Questions

Can I hold both GEQIX and HDCTX in my portfolio?

GEQIX and HDCTX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GEQIX or HDCTX?

GEQIX has higher volatility (3.09%) compared to HDCTX (2.97%). In terms of maximum drawdown, GEQIX dropped -35.47% vs HDCTX's -59.05%.

Which has better risk-adjusted returns?

HDCTX currently has the higher Sharpe Ratio (1.71 vs 1.32), 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.