HCMT vs. TMF
Compare and contrast key facts about Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF (HCMT) and Direxion Daily 20-Year Treasury Bull 3X (TMF).
HCMT and TMF 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. TMF is a passively managed fund by Direxion that tracks the performance of the NYSE 20 Year Plus Treasury Bond Index (300%). It was launched on Apr 16, 2009.
Performance
HCMT vs. TMF - Performance Comparison
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HCMT vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HCMT Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF | -8.58% | 7.39% | 39.14% | 5.67% |
TMF Direxion Daily 20-Year Treasury Bull 3X | -2.78% | -2.94% | -35.95% | -14.98% |
Returns By Period
In the year-to-date period, HCMT achieves a -8.58% return, which is significantly lower than TMF's -2.78% return.
HCMT
- 1D
- -0.03%
- 1M
- -6.60%
- YTD
- -8.58%
- 6M
- -5.95%
- 1Y
- 17.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TMF
- 1D
- -0.19%
- 1M
- -13.14%
- YTD
- -2.78%
- 6M
- -8.60%
- 1Y
- -14.86%
- 3Y*
- -23.40%
- 5Y*
- -29.30%
- 10Y*
- -15.78%
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HCMT vs. TMF - Expense Ratio Comparison
HCMT has a 1.17% expense ratio, which is higher than TMF's 1.09% expense ratio.
Return for Risk
HCMT vs. TMF — Risk / Return Rank
HCMT
TMF
HCMT vs. TMF - 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 20-Year Treasury Bull 3X (TMF). 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 | TMF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.58 | -0.44 | +1.02 |
Sortino ratioReturn per unit of downside risk | 0.91 | -0.41 | +1.32 |
Omega ratioGain probability vs. loss probability | 1.13 | 0.95 | +0.18 |
Calmar ratioReturn relative to maximum drawdown | 0.89 | -0.46 | +1.35 |
Martin ratioReturn relative to average drawdown | 2.48 | -0.74 | +3.22 |
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 | TMF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.58 | -0.44 | +1.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.63 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | -0.13 | +0.62 |
Correlation
The correlation between HCMT and TMF is 0.11, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
HCMT vs. TMF - Dividend Comparison
HCMT's dividend yield for the trailing twelve months is around 0.46%, less than TMF's 4.01% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
TMF Direxion Daily 20-Year Treasury Bull 3X | 4.01% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
Drawdowns
HCMT vs. TMF - Drawdown Comparison
The maximum HCMT drawdown since its inception was -36.26%, smaller than the maximum TMF drawdown of -92.61%. Use the drawdown chart below to compare losses from any high point for HCMT and TMF.
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Drawdown Indicators
| HCMT | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.26% | -92.61% | +56.35% |
Max Drawdown (1Y)Largest decline over 1 year | -19.31% | -27.13% | +7.82% |
Max Drawdown (5Y)Largest decline over 5 years | — | -88.37% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -92.61% | — |
Current DrawdownCurrent decline from peak | -13.50% | -91.95% | +78.45% |
Average DrawdownAverage peak-to-trough decline | -8.33% | -43.13% | +34.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.93% | 16.93% | -10.00% |
Volatility
HCMT vs. TMF - Volatility Comparison
The current volatility for Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF (HCMT) is 7.70%, while Direxion Daily 20-Year Treasury Bull 3X (TMF) has a volatility of 10.85%. This indicates that HCMT experiences smaller price fluctuations and is considered to be less risky than TMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HCMT | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.70% | 10.85% | -3.15% |
Volatility (6M)Calculated over the trailing 6-month period | 20.08% | 19.51% | +0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.73% | 33.89% | -4.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.03% | 46.85% | -17.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.03% | 44.00% | -14.97% |