HCYIX vs. DXHYX

Last updated Jun 4, 2026

HCYIX (Hilton Tactical Income Fund Institutional Class) and DXHYX (Direxion Monthly High Yield Bull 1.2X Fund) are both mutual funds - HCYIX is a Tactical Allocation fund managed by Direxion, while DXHYX is a Leveraged Bonds fund managed by Direxion. Over the past 5 years, HCYIX returned 4.62%/yr vs 1.97%/yr for DXHYX. A 0.71 correlation means they provide meaningful diversification when combined. HCYIX charges 0.87%/yr vs 1.35%/yr for DXHYX.

Performance

HCYIX vs. DXHYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hilton Tactical Income Fund Institutional Class (HCYIX) and Direxion Monthly High Yield Bull 1.2X Fund (DXHYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HCYIX achieves a 2.59% return, which is significantly higher than DXHYX's 0.65% return.

HCYIX

• 1D: 0.27%
• 1M: 1.56%
• YTD: 2.59%
• 6M: 2.68%
• 1Y: 10.33%
• 3Y*: 8.95%
• 5Y*: 4.62%
• 10Y*: 5.61%

DXHYX

• 1D: 0.06%
• 1M: 0.51%
• YTD: 0.65%
• 6M: 0.94%
• 1Y: 5.51%
• 3Y*: 6.95%
• 5Y*: 1.97%
• 10Y*: —

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

HCYIX vs. DXHYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HCYIX Hilton Tactical Income Fund Institutional Class	2.59%	8.62%	10.38%	7.07%	-10.69%	15.81%	-1.63%	15.59%	-2.78%	8.49%
DXHYX Direxion Monthly High Yield Bull 1.2X Fund	0.65%	6.56%	6.47%	10.88%	-13.99%	3.00%	2.26%	12.61%	-3.82%	5.22%

Correlation

The correlation between HCYIX and DXHYX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.71

The correlation between HCYIX and DXHYX has been stable across timeframes, ranging from 0.71 to 0.80 - a consistent structural relationship.

Return for Risk

HCYIX vs. DXHYX — Risk / Return Rank

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

HCYIX

HCYIX Risk / Return Rank: 41
HCYIX Sharpe Ratio Rank: 45
HCYIX Sortino Ratio Rank: 46
HCYIX Omega Ratio Rank: 46
HCYIX Calmar Ratio Rank: 30
HCYIX Martin Ratio Rank: 39

DXHYX

DXHYX Risk / Return Rank: 25
DXHYX Sharpe Ratio Rank: 21
DXHYX Sortino Ratio Rank: 22
DXHYX Omega Ratio Rank: 22
DXHYX Calmar Ratio Rank: 27
DXHYX Martin Ratio Rank: 35

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.

HCYIX vs. DXHYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hilton Tactical Income Fund Institutional Class (HCYIX) and Direxion Monthly High Yield Bull 1.2X Fund (DXHYX). 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.

	HCYIX	DXHYX	Difference
Sharpe ratio Return per unit of total volatility	1.97	1.32	+0.65
Sortino ratio Return per unit of downside risk	2.85	1.97	+0.89
Omega ratio Gain probability vs. loss probability	1.37	1.24	+0.12
Calmar ratio Return relative to maximum drawdown	2.04	1.91	+0.13
Martin ratio Return relative to average drawdown	8.35	7.89	+0.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HCYIX vs. DXHYX - Sharpe Ratio Comparison

The current HCYIX Sharpe Ratio is 1.97, which is higher than the DXHYX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of HCYIX and DXHYX, 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

	HCYIX	DXHYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	1.32	+0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.23	+0.49
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.31	+0.38

Drawdowns

HCYIX vs. DXHYX - Drawdown Comparison

The maximum HCYIX drawdown since its inception was -25.70%, roughly equal to the maximum DXHYX drawdown of -26.40%. Use the drawdown chart below to compare losses from any high point for HCYIX and DXHYX.

Drawdown Indicators

	HCYIX	DXHYX	Difference
Max Drawdown Largest peak-to-trough decline	-25.70%	-26.40%	+0.70%
Max Drawdown (1Y) Largest decline over 1 year	-5.12%	-3.03%	-2.09%
Max Drawdown (3Y) Largest decline over 3 years	-7.73%	-6.42%	-1.31%
Max Drawdown (5Y) Largest decline over 5 years	-13.75%	-18.67%	+4.92%
Max Drawdown (10Y) Largest decline over 10 years	-25.70%	—	—
Current Drawdown Current decline from peak	-0.09%	-0.17%	+0.08%
Average Drawdown Average peak-to-trough decline	-3.16%	-3.70%	+0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.25%	0.73%	+0.52%

Volatility

HCYIX vs. DXHYX - Volatility Comparison

The current volatility for Hilton Tactical Income Fund Institutional Class (HCYIX) is 1.32%, while Direxion Monthly High Yield Bull 1.2X Fund (DXHYX) has a volatility of 1.43%. This indicates that HCYIX experiences smaller price fluctuations and is considered to be less risky than DXHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HCYIX	DXHYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.32%	1.43%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	4.16%	3.40%	+0.76%
Volatility (1Y) Calculated over the trailing 1-year period	5.31%	4.39%	+0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.39%	8.47%	-2.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.09%	9.34%	-1.25%

HCYIX vs. DXHYX - Expense Ratio Comparison

HCYIX has a 0.87% expense ratio, which is lower than DXHYX's 1.35% expense ratio.

Dividends

HCYIX vs. DXHYX - Dividend Comparison

HCYIX's dividend yield for the trailing twelve months is around 6.64%, more than DXHYX's 3.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXHYX Direxion Monthly High Yield Bull 1.2X Fund	3.58%	4.32%	4.75%	6.08%	12.11%	2.06%	6.32%	9.95%	4.99%	3.57%	0.00%	0.00%
HCYIX Hilton Tactical Income Fund Institutional Class	6.64%	6.51%	3.46%	3.05%	3.01%	2.61%	3.36%	2.87%	4.22%	2.75%	3.87%	4.54%

Frequently Asked Questions

Can I hold both HCYIX and DXHYX in my portfolio?

HCYIX and DXHYX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HCYIX or DXHYX?

DXHYX has higher volatility (1.43%) compared to HCYIX (1.32%). In terms of maximum drawdown, HCYIX dropped -25.70% vs DXHYX's -26.40%.

Which has better risk-adjusted returns?

HCYIX currently has the higher Sharpe Ratio (1.97 vs 1.32), 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.