HCMT vs. SOXS
HCMT (Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - HCMT is a Large Cap Blend Equities fund actively managed by Direxion, while SOXS is a Leveraged Equities fund tracking the PHLX Semiconductor Index (-300%). HCMT is actively managed, while SOXS is passively managed. Over the past year, HCMT returned 43.14% vs -97.75% for SOXS. At a correlation of -0.80, they often move in opposite directions. HCMT charges 1.17%/yr vs 1.08%/yr for SOXS.
Performance
HCMT vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, HCMT achieves a 11.17% return, which is significantly higher than SOXS's -92.10% return.
HCMT
- 1D
- -0.89%
- 1M
- 14.82%
- YTD
- 11.17%
- 6M
- 9.27%
- 1Y
- 43.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SOXS
- 1D
- -5.03%
- 1M
- -62.97%
- YTD
- -92.10%
- 6M
- -91.70%
- 1Y
- -97.75%
- 3Y*
- -86.64%
- 5Y*
- -79.66%
- 10Y*
- -78.92%
HCMT vs. SOXS - 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% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -92.10% | -85.53% | -59.55% | -44.58% |
Correlation
The correlation between HCMT and SOXS is -0.73, 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 | -0.73 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023 | -0.80 |
The correlation between HCMT and SOXS has been stable across timeframes, ranging from -0.80 to -0.73 - a consistent structural relationship.
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Return for Risk
HCMT vs. SOXS — Risk / Return Rank
HCMT
SOXS
HCMT vs. SOXS - 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 Bear 3x Shares (SOXS). 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 | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.75 | ||
| Sortino ratioReturn per unit of downside risk | +6.25 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.58 | +0.72 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | -1.00 | +3.84 |
| Martin ratioReturn relative to average drawdown | 7.19 | -1.44 | +8.63 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HCMT | SOXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.79 | -0.96 | +2.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.74 | — |
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 | -0.79 | +1.53 |
Drawdowns
HCMT vs. SOXS - Drawdown Comparison
The maximum HCMT drawdown since its inception was -36.26%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for HCMT and SOXS.
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Drawdown Indicators
| HCMT | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.26% | -100.00% | +63.74% |
Max Drawdown (1Y)Largest decline over 1 year | -15.27% | -97.68% | +82.41% |
Max Drawdown (3Y)Largest decline over 3 years | — | -99.80% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -99.97% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -0.89% | -100.00% | +99.11% |
Average DrawdownAverage peak-to-trough decline | -8.24% | -92.60% | +84.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.01% | 68.64% | -62.63% |
Volatility
HCMT vs. SOXS - Volatility Comparison
The current volatility for Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF (HCMT) is 5.80%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 44.22%. This indicates that HCMT experiences smaller price fluctuations and is considered to be less risky than SOXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HCMT | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.80% | 44.22% | -38.42% |
Volatility (6M)Calculated over the trailing 6-month period | 16.58% | 83.94% | -67.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.21% | 102.18% | -77.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.48% | 108.21% | -79.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.48% | 100.48% | -72.00% |
HCMT vs. SOXS - Expense Ratio Comparison
HCMT has a 1.17% expense ratio, which is higher than SOXS's 1.08% expense ratio.
Dividends
HCMT vs. SOXS - Dividend Comparison
HCMT's dividend yield for the trailing twelve months is around 0.38%, less than SOXS's 68.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 68.34% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
Frequently Asked Questions
HCMT and SOXS have a correlation of -0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (44.22%) compared to HCMT (5.80%). In terms of maximum drawdown, HCMT dropped -36.26% vs SOXS's -100.00%.
On 1-year performance, HCMT leads with 43.14% vs -97.75% for SOXS. On fees, SOXS is cheaper at 1.08% per year. On volatility, HCMT has been the lower-risk option at 5.80%. 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 43.14% return vs -97.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXS is cheaper with a 1.08% expense ratio, compared with 1.17% for HCMT.
SOXS has the higher dividend yield at 68.34%, compared with 0.38% for HCMT.
HCMT is categorized as Large Cap Blend Equities, while SOXS is Leveraged Equities. Their fees differ too: 1.17% for HCMT and 1.08% for SOXS.
HCMT currently has the higher Sharpe Ratio (1.79 vs -0.96), 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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