HCMT vs. SOXL

Last updated Apr 2, 2026

Compare and contrast key facts about Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF (HCMT) and Direxion Daily Semiconductor Bull 3x Shares (SOXL).

HCMT and SOXL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HCMT is an actively managed fund by Direxion. It was launched on Jun 21, 2023. SOXL is a passively managed fund by Direxion that tracks the performance of the PHLX Semiconductor Index (300%). It was launched on Mar 11, 2010.

Performance

HCMT vs. SOXL - 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 Direxion Daily Semiconductor Bull 3x Shares (SOXL). The values are adjusted to include any dividend payments, if applicable.

HCMT vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HCMT Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF	-8.51%	7.39%	39.14%	5.67%
SOXL Direxion Daily Semiconductor Bull 3x Shares	24.34%	54.91%	-12.31%	36.46%

Returns By Period

In the year-to-date period, HCMT achieves a -8.51% return, which is significantly lower than SOXL's 24.34% return.

HCMT

• 1D: 0.09%
• 1M: -6.67%
• YTD: -8.51%
• 6M: -6.74%
• 1Y: 15.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOXL

• 1D: 9.08%
• 1M: -16.73%
• YTD: 24.34%
• 6M: 41.78%
• 1Y: 228.78%
• 3Y*: 42.83%
• 5Y*: 4.90%
• 10Y*: 41.10%

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

HCMT vs. SOXL - Expense Ratio Comparison

HCMT has a 1.17% expense ratio, which is higher than SOXL's 0.99% expense ratio.

HCMT

Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF

SOXL

Direxion Daily Semiconductor Bull 3x Shares

Return for Risk

HCMT vs. SOXL — Risk / Return Rank

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

HCMT

HCMT Risk / Return Rank: 29
HCMT Sharpe Ratio Rank: 27
HCMT Sortino Ratio Rank: 28
HCMT Omega Ratio Rank: 28
HCMT Calmar Ratio Rank: 33
HCMT Martin Ratio Rank: 28

SOXL

SOXL Risk / Return Rank: 90
SOXL Sharpe Ratio Rank: 89
SOXL Sortino Ratio Rank: 88
SOXL Omega Ratio Rank: 86
SOXL Calmar Ratio Rank: 96
SOXL Martin Ratio Rank: 93

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. SOXL - 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 Direxion Daily Semiconductor Bull 3x Shares (SOXL). 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	SOXL	Difference
Sharpe ratio Return per unit of total volatility	0.53	1.93	-1.39
Sortino ratio Return per unit of downside risk	0.87	2.46	-1.59
Omega ratio Gain probability vs. loss probability	1.12	1.35	-0.23
Calmar ratio Return relative to maximum drawdown	0.89	4.64	-3.76
Martin ratio Return relative to average drawdown	2.46	14.09	-11.64
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. SOXL - Sharpe Ratio Comparison

The current HCMT Sharpe Ratio is 0.53, which is lower than the SOXL Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of HCMT and SOXL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HCMT	SOXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.53	1.93	-1.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.05	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.36	+0.13

Correlation

The correlation between HCMT and SOXL is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HCMT vs. SOXL - Dividend Comparison

HCMT's dividend yield for the trailing twelve months is around 0.46%, more than SOXL's 0.15% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
HCMT Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF	0.46%	0.43%	2.75%	0.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SOXL Direxion Daily Semiconductor Bull 3x Shares	0.15%	0.34%	1.18%	0.51%	1.07%	0.04%	0.05%	0.38%	1.30%	0.09%	4.84%

Drawdowns

HCMT vs. SOXL - Drawdown Comparison

The maximum HCMT drawdown since its inception was -36.26%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for HCMT and SOXL.

Drawdown Indicators

	HCMT	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-36.26%	-90.46%	+54.20%
Max Drawdown (1Y) Largest decline over 1 year	-19.31%	-49.26%	+29.95%
Max Drawdown (5Y) Largest decline over 5 years	—	-90.46%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-90.46%	—
Current Drawdown Current decline from peak	-13.43%	-27.28%	+13.85%
Average Drawdown Average peak-to-trough decline	-8.33%	-35.34%	+27.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.98%	16.23%	-9.25%

Volatility

HCMT vs. SOXL - Volatility Comparison

The current volatility for Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF (HCMT) is 7.49%, while Direxion Daily Semiconductor Bull 3x Shares (SOXL) has a volatility of 38.35%. This indicates that HCMT experiences smaller price fluctuations and is considered to be less risky than SOXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HCMT	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.49%	38.35%	-30.86%
Volatility (6M) Calculated over the trailing 6-month period	20.06%	79.93%	-59.87%
Volatility (1Y) Calculated over the trailing 1-year period	29.73%	119.50%	-89.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.00%	105.40%	-76.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.00%	97.72%	-68.72%