HCMDX vs. HCMKX

Last updated Jun 4, 2026

HCMDX (HCM Tactical Growth Fund) and HCMKX (HCM Income Plus Fund) are both mutual funds - HCMDX is a Large Cap Growth Equities fund managed by Howard Capital Management, while HCMKX is a Diversified Portfolio fund managed by Howard Capital Management. Over the past 5 years, HCMDX returned 15.18%/yr vs 10.74%/yr for HCMKX. With a 0.96 correlation, they move nearly in lockstep. HCMDX charges 2.84%/yr vs 2.10%/yr for HCMKX.

Performance

HCMDX vs. HCMKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HCM Tactical Growth Fund (HCMDX) and HCM Income Plus Fund (HCMKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HCMDX achieves a 13.58% return, which is significantly higher than HCMKX's 12.58% return.

HCMDX

• 1D: 0.77%
• 1M: 13.21%
• YTD: 13.58%
• 6M: 11.29%
• 1Y: 41.18%
• 3Y*: 29.92%
• 5Y*: 15.18%
• 10Y*: 19.05%

HCMKX

• 1D: 0.75%
• 1M: 9.95%
• YTD: 12.58%
• 6M: 11.18%
• 1Y: 31.66%
• 3Y*: 23.27%
• 5Y*: 10.74%
• 10Y*: —

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

HCMDX vs. HCMKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HCMDX HCM Tactical Growth Fund	13.58%	16.55%	49.90%	32.05%	-39.00%	38.72%	52.10%	21.79%	-7.68%	30.59%
HCMKX HCM Income Plus Fund	12.58%	15.06%	32.19%	20.68%	-24.98%	8.97%	39.45%	14.64%	-4.75%	5.72%

Correlation

The correlation between HCMDX and HCMKX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.96

The correlation between HCMDX and HCMKX has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.

Return for Risk

HCMDX vs. HCMKX — Risk / Return Rank

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

HCMDX

HCMDX Risk / Return Rank: 37
HCMDX Sharpe Ratio Rank: 42
HCMDX Sortino Ratio Rank: 34
HCMDX Omega Ratio Rank: 36
HCMDX Calmar Ratio Rank: 44
HCMDX Martin Ratio Rank: 29

HCMKX

HCMKX Risk / Return Rank: 47
HCMKX Sharpe Ratio Rank: 51
HCMKX Sortino Ratio Rank: 43
HCMKX Omega Ratio Rank: 44
HCMKX Calmar Ratio Rank: 59
HCMKX Martin Ratio Rank: 40

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.

HCMDX vs. HCMKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HCM Tactical Growth Fund (HCMDX) and HCM Income Plus Fund (HCMKX). 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.

	HCMDX	HCMKX	Difference
Sharpe ratio: Return per unit of total volatility	1.91	2.11	-0.20
Sortino ratio: Return per unit of downside risk	2.41	2.76	-0.35
Omega ratio: Gain probability vs. loss probability	1.32	1.36	-0.04
Calmar ratio: Return relative to maximum drawdown	2.53	2.94	-0.41
Martin ratio: Return relative to average drawdown	6.87	8.67	-1.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HCMDX vs. HCMKX - Sharpe Ratio Comparison

The current HCMDX Sharpe Ratio is 1.91, which is comparable to the HCMKX Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of HCMDX and HCMKX, 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

	HCMDX	HCMKX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	2.11	-0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.70	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.80	-0.13

Drawdowns

HCMDX vs. HCMKX - Drawdown Comparison

The maximum HCMDX drawdown since its inception was -40.89%, which is greater than HCMKX's maximum drawdown of -28.43%. Use the drawdown chart below to compare losses from any high point for HCMDX and HCMKX.

Drawdown Indicators

	HCMDX	HCMKX	Difference
Max Drawdown Largest peak-to-trough decline	-40.89%	-28.43%	-12.46%
Max Drawdown (1Y) Largest decline over 1 year	-17.00%	-11.14%	-5.86%
Max Drawdown (3Y) Largest decline over 3 years	-25.96%	-17.05%	-8.91%
Max Drawdown (5Y) Largest decline over 5 years	-40.89%	-28.43%	-12.46%
Max Drawdown (10Y) Largest decline over 10 years	-40.89%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-11.42%	-7.05%	-4.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.24%	3.76%	+2.48%

Volatility

HCMDX vs. HCMKX - Volatility Comparison

HCM Tactical Growth Fund (HCMDX) has a higher volatility of 5.83% compared to HCM Income Plus Fund (HCMKX) at 4.91%. This indicates that HCMDX's price experiences larger fluctuations and is considered to be riskier than HCMKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HCMDX	HCMKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.83%	4.91%	+0.92%
Volatility (6M) Calculated over the trailing 6-month period	15.67%	11.27%	+4.40%
Volatility (1Y) Calculated over the trailing 1-year period	22.51%	15.53%	+6.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.08%	15.41%	+8.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.11%	14.03%	+10.08%

HCMDX vs. HCMKX - Expense Ratio Comparison

HCMDX has a 2.84% expense ratio, which is higher than HCMKX's 2.10% expense ratio.

Dividends

HCMDX vs. HCMKX - Dividend Comparison

HCMDX's dividend yield for the trailing twelve months is around 2.62%, less than HCMKX's 3.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HCMDX HCM Tactical Growth Fund	2.62%	2.98%	23.23%	0.00%	0.72%	0.99%	3.24%	0.00%	5.05%	0.00%	0.00%	1.47%
HCMKX HCM Income Plus Fund	3.25%	3.66%	19.48%	0.04%	0.00%	0.20%	0.27%	0.16%	5.97%	0.21%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HCMDX and HCMKX in my portfolio?

With a correlation of 0.99, HCMDX and HCMKX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, HCMDX or HCMKX?

HCMDX has higher volatility (5.83%) compared to HCMKX (4.91%). In terms of maximum drawdown, HCMDX dropped -40.89% vs HCMKX's -28.43%.

Which has better risk-adjusted returns?

HCMKX currently has the higher Sharpe Ratio (2.11 vs 1.91), 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.