HCMT vs. ITOT

Last updated Jun 4, 2026

HCMT (Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF) and ITOT (iShares Core S&P Total U.S. Stock Market ETF) are both Large Cap Blend Equities funds. HCMT is actively managed, while ITOT is passively managed. Over the past year, HCMT returned 43.14% vs 28.12% for ITOT. Their correlation of 0.91 suggests significant overlap in exposure. HCMT charges 1.17%/yr vs 0.03%/yr for ITOT.

Performance

HCMT vs. ITOT - 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 iShares Core S&P Total U.S. Stock Market ETF (ITOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with HCMT having a 11.17% return and ITOT slightly higher at 11.25%.

HCMT

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

ITOT

• 1D: -0.73%
• 1M: 5.01%
• YTD: 11.25%
• 6M: 11.12%
• 1Y: 28.12%
• 3Y*: 22.09%
• 5Y*: 12.69%
• 10Y*: 15.01%

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

HCMT vs. ITOT - 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%
ITOT iShares Core S&P Total U.S. Stock Market ETF	11.25%	17.00%	23.80%	10.37%

Correlation

The correlation between HCMT and ITOT is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023	0.91

The correlation between HCMT and ITOT has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

HCMT vs. ITOT - Sectors Allocation Comparison

Sectors	HCMT	ITOT
Technology	12.9%	33.8%
Financial Services	3.8%	12.1%
Communication Services	3.6%	10.3%
Consumer Cyclical	3.3%	10.1%
Healthcare	2.8%	9.0%
Industrials	2.6%	9.5%
Consumer Defensive	1.6%	4.7%
Energy	1.1%	3.7%
Utilities	0.9%	2.3%
Real Estate	0.6%	2.4%
Basic Materials	0.6%	2.1%

Return for Risk

HCMT vs. ITOT — 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

ITOT

ITOT Risk / Return Rank: 68
ITOT Sharpe Ratio Rank: 69
ITOT Sortino Ratio Rank: 68
ITOT Omega Ratio Rank: 67
ITOT Calmar Ratio Rank: 63
ITOT Martin Ratio Rank: 75

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. ITOT - 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 Core S&P Total U.S. Stock Market ETF (ITOT). 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	ITOT	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.32	-0.53
Sortino ratio: Return per unit of downside risk	2.30	3.17	-0.87
Omega ratio: Gain probability vs. loss probability	1.31	1.42	-0.11
Calmar ratio: Return relative to maximum drawdown	2.84	3.17	-0.34
Martin ratio: Return relative to average drawdown	7.19	14.57	-7.38
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. ITOT - Sharpe Ratio Comparison

The current HCMT Sharpe Ratio is 1.79, which is comparable to the ITOT Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of HCMT and ITOT, 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	ITOT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	2.32	-0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.74	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.57	+0.17

Drawdowns

HCMT vs. ITOT - Drawdown Comparison

The maximum HCMT drawdown since its inception was -36.26%, smaller than the maximum ITOT drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for HCMT and ITOT.

Drawdown Indicators

	HCMT	ITOT	Difference
Max Drawdown Largest peak-to-trough decline	-36.26%	-55.20%	+18.94%
Max Drawdown (1Y) Largest decline over 1 year	-15.27%	-8.90%	-6.37%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.44%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.36%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.00%	—
Current Drawdown Current decline from peak	-0.89%	-0.73%	-0.16%
Average Drawdown Average peak-to-trough decline	-8.24%	-6.97%	-1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.01%	1.94%	+4.07%

Volatility

HCMT vs. ITOT - Volatility Comparison

Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF (HCMT) has a higher volatility of 5.80% compared to iShares Core S&P Total U.S. Stock Market ETF (ITOT) at 2.99%. This indicates that HCMT's price experiences larger fluctuations and is considered to be riskier than ITOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HCMT	ITOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.80%	2.99%	+2.81%
Volatility (6M) Calculated over the trailing 6-month period	16.58%	9.13%	+7.45%
Volatility (1Y) Calculated over the trailing 1-year period	24.21%	12.20%	+12.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.48%	17.36%	+11.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.48%	18.26%	+10.22%

HCMT vs. ITOT - Expense Ratio Comparison

HCMT has a 1.17% expense ratio, which is higher than ITOT's 0.03% expense ratio.

Dividends

HCMT vs. ITOT - Dividend Comparison

HCMT's dividend yield for the trailing twelve months is around 0.38%, less than ITOT's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
ITOT iShares Core S&P Total U.S. Stock Market ETF	0.98%	1.11%	1.23%	1.47%	1.66%	1.18%	1.41%	1.88%	2.14%	1.69%	1.83%	2.01%

Frequently Asked Questions

Can I hold both HCMT and ITOT in my portfolio?

HCMT and ITOT have a correlation of 0.89, 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 ITOT?

HCMT has higher volatility (5.80%) compared to ITOT (2.99%). In terms of maximum drawdown, HCMT dropped -36.26% vs ITOT's -55.20%.

Which ETF is better, HCMT or ITOT?

On 1-year performance, HCMT leads with 43.14% vs 28.12% for ITOT. On fees, ITOT is cheaper at 0.03% per year. On volatility, ITOT has been the lower-risk option at 2.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HCMT or ITOT?

Over the 1-year period, HCMT has performed better with a 43.14% return vs 28.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HCMT or ITOT?

ITOT is cheaper with a 0.03% expense ratio, compared with 1.17% for HCMT.

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

ITOT has the higher dividend yield at 0.98%, compared with 0.38% for HCMT.

What is the main difference between HCMT and ITOT?

They also come from different issuers: Direxion and iShares. Their fees differ too: 1.17% for HCMT and 0.03% for ITOT.

Which has better risk-adjusted returns?

ITOT currently has the higher Sharpe Ratio (2.32 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.