HCMT vs. IBIC
HCMT (Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - HCMT is a Large Cap Blend Equities fund actively managed by Direxion, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. HCMT is actively managed, while IBIC is passively managed. Over the past year, HCMT returned 32.49% vs 4.42% for IBIC. At a correlation of -0.04, they often move in opposite directions. HCMT charges 1.17%/yr vs 0.10%/yr for IBIC.
Performance
HCMT vs. IBIC - Performance Comparison
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Returns By Period
In the year-to-date period, HCMT achieves a 4.79% return, which is significantly higher than IBIC's 2.43% return.
HCMT
- 1D
- -4.45%
- 1M
- -0.81%
- YTD
- 4.79%
- 6M
- 2.44%
- 1Y
- 32.49%
- 3Y*
- 18.91%
- 5Y*
- —
- 10Y*
- —
IBIC
- 1D
- 0.04%
- 1M
- 0.12%
- YTD
- 2.43%
- 6M
- 2.57%
- 1Y
- 4.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HCMT vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HCMT Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF | 4.79% | 7.39% | 39.14% | 2.19% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.43% | 4.96% | 5.25% | 2.17% |
Correlation
The correlation between HCMT and IBIC is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.15 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023 | -0.04 |
The correlation between HCMT and IBIC shifts across timeframes, from -0.15 (1 year) to -0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HCMT vs. IBIC — Risk / Return Rank
HCMT
IBIC
HCMT vs. IBIC - 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 iShares iBonds Oct 2026 Term TIPS ETF (IBIC). 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 | IBIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.75 | ||
| Sortino ratioReturn per unit of downside risk | -7.29 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 2.22 | -1.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 16.56 | -14.43 |
| Martin ratioReturn relative to average drawdown | 5.30 | 58.67 | -53.37 |
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Drawdowns
HCMT vs. IBIC - Drawdown Comparison
The maximum HCMT drawdown since its inception was -36.26%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for HCMT and IBIC.
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Drawdown Indicators
| HCMT | IBIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.26% | -0.90% | -35.36% |
Max Drawdown (1Y)Largest decline over 1 year | -15.27% | -0.27% | -15.00% |
Max Drawdown (3Y)Largest decline over 3 years | -36.26% | — | — |
Current DrawdownCurrent decline from peak | -6.58% | -0.08% | -6.50% |
Average DrawdownAverage peak-to-trough decline | -8.18% | -0.10% | -8.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.15% | 0.08% | +6.07% |
Volatility
HCMT vs. IBIC - Volatility Comparison
Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF (HCMT) has a higher volatility of 12.47% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.17%. This indicates that HCMT's price experiences larger fluctuations and is considered to be riskier than IBIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HCMT | IBIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.47% | 0.17% | +12.30% |
Volatility (6M)Calculated over the trailing 6-month period | 19.67% | 0.67% | +19.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.47% | 0.89% | +25.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.01% | 1.56% | +27.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.01% | 1.56% | +27.45% |
HCMT vs. IBIC - Expense Ratio Comparison
HCMT has a 1.17% expense ratio, which is higher than IBIC's 0.10% expense ratio.
Dividends
HCMT vs. IBIC - Dividend Comparison
HCMT's dividend yield for the trailing twelve months is around 0.40%, less than IBIC's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
HCMT Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF | 0.40% | 0.43% | 2.75% | 0.63% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 3.58% | 4.43% | 4.65% | 0.83% |
Frequently Asked Questions
HCMT and IBIC have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HCMT has higher volatility (12.47%) compared to IBIC (0.17%). In terms of maximum drawdown, HCMT dropped -36.26% vs IBIC's -0.90%.
On 1-year performance, HCMT leads with 32.49% vs 4.42% for IBIC. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HCMT has performed better with a 32.49% return vs 4.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIC is cheaper with a 0.10% expense ratio, compared with 1.17% for HCMT.
IBIC has the higher dividend yield at 3.58%, compared with 0.40% for HCMT.
HCMT is categorized as Large Cap Blend Equities, while IBIC is Inflation-Protected Bonds. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.17% for HCMT and 0.10% for IBIC.
IBIC currently has the higher Sharpe Ratio (4.99 vs 1.24), 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.
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