HCMT vs. HCMDX

Last updated Jun 4, 2026

HCMT (Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF) and HCMDX (HCM Tactical Growth Fund) are both funds - HCMT is a Large Cap Blend Equities fund actively managed by Direxion, while HCMDX is a Large Cap Growth Equities fund managed by Howard Capital Management. Over the past year, HCMT returned 43.14% vs 41.18% for HCMDX. Their correlation of 0.95 suggests significant overlap in exposure. HCMT charges 1.17%/yr vs 2.84%/yr for HCMDX.

Performance

HCMT vs. HCMDX - 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 HCM Tactical Growth Fund (HCMDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HCMT achieves a 11.17% return, which is significantly lower than HCMDX's 13.58% return.

HCMT

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

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%

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

HCMT vs. HCMDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HCMT Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF	11.17%	7.39%	39.14%	5.67%
HCMDX HCM Tactical Growth Fund	13.58%	16.55%	49.90%	6.13%

Correlation

The correlation between HCMT and HCMDX is 0.96 - 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	0.96
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023	0.95

The correlation between HCMT and HCMDX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

HCMT vs. HCMDX — Risk / Return Rank

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

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

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

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. HCMDX - 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 HCM Tactical Growth Fund (HCMDX). 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.

	HCMT	HCMDX	Difference
Sharpe ratio: Return per unit of total volatility	1.79	1.91	-0.12
Sortino ratio: Return per unit of downside risk	2.30	2.41	-0.11
Omega ratio: Gain probability vs. loss probability	1.31	1.32	-0.01
Calmar ratio: Return relative to maximum drawdown	2.84	2.53	+0.31
Martin ratio: Return relative to average drawdown	7.19	6.87	+0.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HCMT vs. HCMDX - Sharpe Ratio Comparison

The current HCMT Sharpe Ratio is 1.79, which is comparable to the HCMDX Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of HCMT and HCMDX, 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

	HCMT	HCMDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	1.91	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.63	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.79	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.67	+0.07

Drawdowns

HCMT vs. HCMDX - Drawdown Comparison

The maximum HCMT drawdown since its inception was -36.26%, smaller than the maximum HCMDX drawdown of -40.89%. Use the drawdown chart below to compare losses from any high point for HCMT and HCMDX.

Drawdown Indicators

	HCMT	HCMDX	Difference
Max Drawdown Largest peak-to-trough decline	-36.26%	-40.89%	+4.63%
Max Drawdown (1Y) Largest decline over 1 year	-15.27%	-17.00%	+1.73%
Max Drawdown (3Y) Largest decline over 3 years	—	-25.96%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-40.89%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.89%	—
Current Drawdown Current decline from peak	-0.89%	0.00%	-0.89%
Average Drawdown Average peak-to-trough decline	-8.24%	-11.42%	+3.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.01%	6.24%	-0.23%

Volatility

HCMT vs. HCMDX - Volatility Comparison

Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF (HCMT) and HCM Tactical Growth Fund (HCMDX) have volatilities of 5.80% and 5.83%, 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

	HCMT	HCMDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.80%	5.83%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	16.58%	15.67%	+0.91%
Volatility (1Y) Calculated over the trailing 1-year period	24.21%	22.51%	+1.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.48%	24.08%	+4.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.48%	24.11%	+4.37%

HCMT vs. HCMDX - Expense Ratio Comparison

HCMT has a 1.17% expense ratio, which is lower than HCMDX's 2.84% expense ratio.

Dividends

HCMT vs. HCMDX - Dividend Comparison

HCMT's dividend yield for the trailing twelve months is around 0.38%, less than HCMDX's 2.62% 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%
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%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HCMT and HCMDX in my portfolio?

With a correlation of 0.96, HCMT and HCMDX 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, HCMT or HCMDX?

HCMDX has higher volatility (5.83%) compared to HCMT (5.80%). In terms of maximum drawdown, HCMT dropped -36.26% vs HCMDX's -40.89%.

Which has better risk-adjusted returns?

HCMDX currently has the higher Sharpe Ratio (1.91 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.