HCMT vs. AVIE

Last updated Jul 14, 2026

HCMT (Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF) and AVIE (Avantis Inflation Focused Equity ETF) are both Large Cap Blend Equities funds. Both are actively managed. Over the past 3 years, HCMT returned 16.36%/yr vs 13.54%/yr for AVIE. At a 0.27 correlation, their price movements are largely independent. HCMT charges 1.17%/yr vs 0.25%/yr for AVIE.

Performance

HCMT vs. AVIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF (HCMT) and Avantis Inflation Focused Equity ETF (AVIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HCMT achieves a 5.14% return, which is significantly lower than AVIE's 16.94% return.

HCMT

• 1D: -2.63%
• 1M: -1.04%
• 6M: 1.44%
• YTD: 5.14%
• 1Y: 23.50%
• 3Y*: 16.36%
• 5Y*: —
• 10Y*: —

AVIE

• 1D: 1.05%
• 1M: 1.67%
• 6M: 14.10%
• YTD: 16.94%
• 1Y: 25.91%
• 3Y*: 13.54%
• 5Y*: —
• 10Y*: —

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

HCMT vs. AVIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HCMT Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF	5.14%	7.39%	39.14%	6.45%
AVIE Avantis Inflation Focused Equity ETF	16.94%	11.37%	6.17%	7.36%

Correlation

The correlation between HCMT and AVIE is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	0.27

Over the past year, the correlation between HCMT and AVIE has dropped to 0.04 - well below their long-term average of 0.27, suggesting their price drivers have been diverging.

HCMT vs. AVIE - Sectors Allocation Comparison

Sectors	HCMT	AVIE
Technology	39.1%	0.1%
Financial Services	11.1%	15.0%
Communication Services	10.6%	-
Consumer Cyclical	9.9%	0.0%
Healthcare	8.3%	26.3%
Industrials	7.8%	1.3%
Consumer Defensive	4.5%	17.1%
Energy	3.1%	30.0%
Utilities	2.1%	0.0%
Real Estate	1.8%	0.1%
Basic Materials	1.7%	9.8%

Return for Risk

HCMT vs. AVIE — Risk / Return Rank

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

HCMT

HCMT Risk / Return Rank: 31
HCMT Sharpe Ratio Rank: 29
HCMT Sortino Ratio Rank: 28
HCMT Omega Ratio Rank: 29
HCMT Calmar Ratio Rank: 37
HCMT Martin Ratio Rank: 32

AVIE

AVIE Risk / Return Rank: 92
AVIE Sharpe Ratio Rank: 92
AVIE Sortino Ratio Rank: 93
AVIE Omega Ratio Rank: 90
AVIE Calmar Ratio Rank: 93
AVIE Martin Ratio Rank: 90

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.

HCMT vs. AVIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF (HCMT) and Avantis Inflation Focused Equity ETF (AVIE). 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.

	HCMT	AVIE	Difference
Sharpe ratio: Return per unit of total volatility	0.87	2.55	-1.69
Sortino ratio: Return per unit of downside risk	1.28	3.70	-2.42
Omega ratio: Gain probability vs. loss probability	1.17	1.45	-0.28
Calmar ratio: Return relative to maximum drawdown	1.55	5.24	-3.69
Martin ratio: Return relative to average drawdown	3.74	16.43	-12.69

HCMT vs. AVIE - Sharpe Ratio Comparison

The current HCMT Sharpe Ratio is 0.87, which is lower than the AVIE Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of HCMT and AVIE, 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

HCMT vs. AVIE - Drawdown Comparison

The maximum HCMT drawdown since its inception was -36.26%, which is greater than AVIE's maximum drawdown of -12.39%. Use the drawdown chart below to compare losses from any high point for HCMT and AVIE.

Drawdown Indicators

	HCMT	AVIE	Difference
Max Drawdown Largest peak-to-trough decline	-36.26%	-12.39%	-23.87%
Max Drawdown (1Y) Largest decline over 1 year	-15.27%	-4.97%	-10.30%
Max Drawdown (3Y) Largest decline over 3 years	-36.26%	-12.39%	-23.87%
Current Drawdown Current decline from peak	-6.27%	-0.07%	-6.20%
Average Drawdown Average peak-to-trough decline	-8.14%	-2.97%	-5.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.29%	1.60%	+4.69%

Volatility

HCMT vs. AVIE - Volatility Comparison

Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF (HCMT) has a higher volatility of 12.17% compared to Avantis Inflation Focused Equity ETF (AVIE) at 3.66%. This indicates that HCMT's price experiences larger fluctuations and is considered to be riskier than AVIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HCMT	AVIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.17%	3.66%	+8.51%
Volatility (6M) Calculated over the trailing 6-month period	20.85%	7.47%	+13.38%
Volatility (1Y) Calculated over the trailing 1-year period	27.24%	10.21%	+17.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.12%	12.90%	+16.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.12%	12.90%	+16.22%

HCMT vs. AVIE - Expense Ratio Comparison

HCMT has a 1.17% expense ratio, which is higher than AVIE's 0.25% expense ratio.

Dividends

HCMT vs. AVIE - Dividend Comparison

HCMT's dividend yield for the trailing twelve months is around 0.59%, less than AVIE's 1.42% yield.

Position	TTM	2025	2024	2023	2022
AVIE Avantis Inflation Focused Equity ETF	1.42%	1.75%	1.89%	3.72%	0.39%
HCMT Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF	0.59%	0.43%	2.75%	0.63%	0.00%

Frequently Asked Questions

Can I hold both HCMT and AVIE in my portfolio?

HCMT and AVIE have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HCMT or AVIE?

HCMT has higher volatility (12.17%) compared to AVIE (3.66%). In terms of maximum drawdown, HCMT dropped -36.26% vs AVIE's -12.39%.

Which ETF is better, HCMT or AVIE?

On 3-year performance, HCMT leads with 16.36% vs 13.54% for AVIE. On fees, AVIE is cheaper at 0.25% per year. On volatility, AVIE has been the lower-risk option at 3.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HCMT or AVIE?

Over the 3-year period, HCMT has performed better with a 16.36% return vs 13.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HCMT or AVIE?

AVIE is cheaper with a 0.25% expense ratio, compared with 1.17% for HCMT.

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

AVIE has the higher dividend yield at 1.42%, compared with 0.59% for HCMT.

What is the main difference between HCMT and AVIE?

They also come from different issuers: Direxion and Avantis. Their fees differ too: 1.17% for HCMT and 0.25% for AVIE.

Which has better risk-adjusted returns?

AVIE currently has the higher Sharpe Ratio (2.55 vs 0.87), 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.