HCYAX vs. DXRLX

Last updated Jun 3, 2026

HCYAX (Hilton Tactical Income Fund) and DXRLX (Direxion Monthly Small Cap Bull 1.75X Fund) are both mutual funds - HCYAX is a Tactical Allocation fund managed by Direxion, while DXRLX is a Leveraged Equities fund managed by Direxion. Over the past 10 years, HCYAX returned 5.35%/yr vs 12.57%/yr for DXRLX. A 0.75 correlation means they provide meaningful diversification when combined. HCYAX charges 1.12%/yr vs 1.35%/yr for DXRLX.

Performance

HCYAX vs. DXRLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hilton Tactical Income Fund (HCYAX) and Direxion Monthly Small Cap Bull 1.75X Fund (DXRLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HCYAX achieves a 2.19% return, which is significantly lower than DXRLX's 28.54% return. Over the past 10 years, HCYAX has underperformed DXRLX with an annualized return of 5.35%, while DXRLX has yielded a comparatively higher 12.57% annualized return.

HCYAX

• 1D: -0.21%
• 1M: 0.88%
• YTD: 2.19%
• 6M: 2.55%
• 1Y: 9.83%
• 3Y*: 8.61%
• 5Y*: 4.28%
• 10Y*: 5.35%

DXRLX

• 1D: -0.83%
• 1M: 5.57%
• YTD: 28.54%
• 6M: 29.85%
• 1Y: 72.57%
• 3Y*: 23.33%
• 5Y*: 2.15%
• 10Y*: 12.57%

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

HCYAX vs. DXRLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HCYAX Hilton Tactical Income Fund	2.19%	8.41%	10.12%	6.81%	-10.88%	15.51%	-1.78%	15.34%	-2.96%	8.06%
DXRLX Direxion Monthly Small Cap Bull 1.75X Fund	28.54%	15.22%	10.66%	20.05%	-40.24%	26.84%	20.98%	46.08%	-27.45%	27.06%

Correlation

The correlation between HCYAX and DXRLX is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jan 6, 2014	0.75

The correlation between HCYAX and DXRLX has been stable across timeframes, ranging from 0.73 to 0.78 - a consistent structural relationship.

Return for Risk

HCYAX vs. DXRLX — Risk / Return Rank

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

HCYAX

HCYAX Risk / Return Rank: 38
HCYAX Sharpe Ratio Rank: 42
HCYAX Sortino Ratio Rank: 42
HCYAX Omega Ratio Rank: 42
HCYAX Calmar Ratio Rank: 27
HCYAX Martin Ratio Rank: 36

DXRLX

DXRLX Risk / Return Rank: 58
DXRLX Sharpe Ratio Rank: 55
DXRLX Sortino Ratio Rank: 46
DXRLX Omega Ratio Rank: 40
DXRLX Calmar Ratio Rank: 81
DXRLX Martin Ratio Rank: 67

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.

HCYAX vs. DXRLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hilton Tactical Income Fund (HCYAX) and Direxion Monthly Small Cap Bull 1.75X Fund (DXRLX). 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.

	HCYAX	DXRLX	Difference
Sharpe ratio Return per unit of total volatility	1.88	2.20	-0.33
Sortino ratio Return per unit of downside risk	2.72	2.85	-0.13
Omega ratio Gain probability vs. loss probability	1.35	1.34	+0.01
Calmar ratio Return relative to maximum drawdown	1.97	3.71	-1.75
Martin ratio Return relative to average drawdown	8.08	13.08	-5.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HCYAX vs. DXRLX - Sharpe Ratio Comparison

The current HCYAX Sharpe Ratio is 1.88, which is comparable to the DXRLX Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of HCYAX and DXRLX, 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

	HCYAX	DXRLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	2.20	-0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.05	+0.62
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.26	+0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.05	+0.60

Drawdowns

HCYAX vs. DXRLX - Drawdown Comparison

The maximum HCYAX drawdown since its inception was -25.70%, smaller than the maximum DXRLX drawdown of -94.32%. Use the drawdown chart below to compare losses from any high point for HCYAX and DXRLX.

Drawdown Indicators

	HCYAX	DXRLX	Difference
Max Drawdown Largest peak-to-trough decline	-25.70%	-94.32%	+68.62%
Max Drawdown (1Y) Largest decline over 1 year	-5.14%	-19.38%	+14.24%
Max Drawdown (3Y) Largest decline over 3 years	-7.73%	-45.58%	+37.85%
Max Drawdown (5Y) Largest decline over 5 years	-13.90%	-57.64%	+43.74%
Max Drawdown (10Y) Largest decline over 10 years	-25.70%	-77.63%	+51.93%
Current Drawdown Current decline from peak	-0.39%	-1.81%	+1.42%
Average Drawdown Average peak-to-trough decline	-3.25%	-34.61%	+31.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.25%	5.50%	-4.25%

Volatility

HCYAX vs. DXRLX - Volatility Comparison

The current volatility for Hilton Tactical Income Fund (HCYAX) is 1.36%, while Direxion Monthly Small Cap Bull 1.75X Fund (DXRLX) has a volatility of 9.63%. This indicates that HCYAX experiences smaller price fluctuations and is considered to be less risky than DXRLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HCYAX	DXRLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.36%	9.63%	-8.27%
Volatility (6M) Calculated over the trailing 6-month period	4.15%	23.70%	-19.55%
Volatility (1Y) Calculated over the trailing 1-year period	5.32%	33.46%	-28.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.39%	41.62%	-35.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.10%	49.20%	-41.10%

HCYAX vs. DXRLX - Expense Ratio Comparison

HCYAX has a 1.12% expense ratio, which is lower than DXRLX's 1.35% expense ratio.

Dividends

HCYAX vs. DXRLX - Dividend Comparison

HCYAX's dividend yield for the trailing twelve months is around 6.42%, more than DXRLX's 1.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXRLX Direxion Monthly Small Cap Bull 1.75X Fund	1.62%	1.23%	0.66%	0.00%	2.27%	0.84%	0.71%	3.76%	7.60%	0.00%	0.00%	0.00%
HCYAX Hilton Tactical Income Fund	6.42%	6.26%	3.22%	2.81%	2.77%	2.40%	3.26%	2.64%	3.98%	2.54%	3.63%	4.28%

Frequently Asked Questions

Can I hold both HCYAX and DXRLX in my portfolio?

HCYAX and DXRLX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HCYAX or DXRLX?

DXRLX has higher volatility (9.63%) compared to HCYAX (1.36%). In terms of maximum drawdown, HCYAX dropped -25.70% vs DXRLX's -94.32%.

Which has better risk-adjusted returns?

DXRLX currently has the higher Sharpe Ratio (2.20 vs 1.88), 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.