HCYIX vs. DXKSX

Last updated Jun 23, 2026

HCYIX (Hilton Tactical Income Fund Institutional Class) and DXKSX (Direxion Monthly 7-10 Year Treasury Bear 1.75X Fund) are both mutual funds - HCYIX is a Tactical Allocation fund managed by Direxion, while DXKSX is a Inverse Bonds fund managed by Direxion. Over the past 10 years, HCYIX returned 5.58%/yr vs 2.78%/yr for DXKSX. At a correlation of -0.05, they often move in opposite directions. HCYIX charges 0.87%/yr vs 1.35%/yr for DXKSX.

Performance

HCYIX vs. DXKSX - 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 7-10 Year Treasury Bear 1.75X Fund (DXKSX). 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 lower than DXKSX's 4.55% return. Over the past 10 years, HCYIX has outperformed DXKSX with an annualized return of 5.58%, while DXKSX has yielded a comparatively lower 2.78% annualized return.

HCYIX

• 1D: 0.44%
• 1M: 0.30%
• YTD: 2.59%
• 6M: 2.42%
• 1Y: 10.08%
• 3Y*: 8.75%
• 5Y*: 4.88%
• 10Y*: 5.58%

DXKSX

• 1D: -0.50%
• 1M: -0.76%
• YTD: 4.55%
• 6M: 4.77%
• 1Y: 3.14%
• 3Y*: 5.49%
• 5Y*: 9.48%
• 10Y*: 2.78%

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

HCYIX vs. DXKSX - 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%	8.36%
DXKSX Direxion Monthly 7-10 Year Treasury Bear 1.75X Fund	4.55%	-3.26%	12.62%	3.03%	35.65%	4.73%	-13.02%	-11.52%	-0.00%	-5.45%

Correlation

The correlation between HCYIX and DXKSX is -0.49, 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	-0.49
Correlation (3Y) Calculated over the trailing 3-year period	-0.41
Correlation (5Y) Calculated over the trailing 5-year period	-0.36
Correlation (10Y) Calculated over the trailing 10-year period	-0.13
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	-0.05

Over the past year, the inverse relationship between HCYIX and DXKSX has strengthened: their correlation has moved from -0.05 to -0.49, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

HCYIX vs. DXKSX — Risk / Return Rank

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

HCYIX

HCYIX Risk / Return Rank: 40
HCYIX Sharpe Ratio Rank: 44
HCYIX Sortino Ratio Rank: 44
HCYIX Omega Ratio Rank: 44
HCYIX Calmar Ratio Rank: 30
HCYIX Martin Ratio Rank: 39

DXKSX

DXKSX Risk / Return Rank: 5
DXKSX Sharpe Ratio Rank: 5
DXKSX Sortino Ratio Rank: 5
DXKSX Omega Ratio Rank: 5
DXKSX Calmar Ratio Rank: 6
DXKSX Martin Ratio Rank: 5

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. DXKSX - 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 7-10 Year Treasury Bear 1.75X Fund (DXKSX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	HCYIX	DXKSX	Difference
Sharpe ratio: Return per unit of total volatility	1.80	0.38	+1.42
Sortino ratio: Return per unit of downside risk	2.59	0.59	+2.00
Omega ratio: Gain probability vs. loss probability	1.33	1.07	+0.27
Calmar ratio: Return relative to maximum drawdown	1.95	0.56	+1.40
Martin ratio: Return relative to average drawdown	7.95	1.08	+6.87

HCYIX vs. DXKSX - Sharpe Ratio Comparison

The current HCYIX Sharpe Ratio is 1.80, which is higher than the DXKSX Sharpe Ratio of 0.38. The chart below compares the historical Sharpe Ratios of HCYIX and DXKSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HCYIX vs. DXKSX - Drawdown Comparison

The maximum HCYIX drawdown since its inception was -25.70%, smaller than the maximum DXKSX drawdown of -85.78%. Use the drawdown chart below to compare losses from any high point for HCYIX and DXKSX.

Drawdown Indicators

	HCYIX	DXKSX	Difference
Max Drawdown Largest peak-to-trough decline	-25.70%	-85.78%	+60.08%
Max Drawdown (1Y) Largest decline over 1 year	-5.12%	-5.58%	+0.46%
Max Drawdown (3Y) Largest decline over 3 years	-7.73%	-14.02%	+6.29%
Max Drawdown (5Y) Largest decline over 5 years	-13.75%	-14.02%	+0.27%
Max Drawdown (10Y) Largest decline over 10 years	-25.70%	-36.52%	+10.82%
Current Drawdown Current decline from peak	-0.22%	-73.81%	+73.59%
Average Drawdown Average peak-to-trough decline	-3.14%	-61.32%	+58.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.26%	2.88%	-1.62%

Volatility

HCYIX vs. DXKSX - Volatility Comparison

The current volatility for Hilton Tactical Income Fund Institutional Class (HCYIX) is 2.04%, while Direxion Monthly 7-10 Year Treasury Bear 1.75X Fund (DXKSX) has a volatility of 2.56%. This indicates that HCYIX experiences smaller price fluctuations and is considered to be less risky than DXKSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HCYIX	DXKSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.04%	2.56%	-0.52%
Volatility (6M) Calculated over the trailing 6-month period	4.48%	5.98%	-1.50%
Volatility (1Y) Calculated over the trailing 1-year period	5.56%	8.20%	-2.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.42%	13.84%	-7.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.11%	12.56%	-4.45%

HCYIX vs. DXKSX - Expense Ratio Comparison

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

Dividends

HCYIX vs. DXKSX - Dividend Comparison

HCYIX's dividend yield for the trailing twelve months is around 6.64%, less than DXKSX's 11.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXKSX Direxion Monthly 7-10 Year Treasury Bear 1.75X Fund	11.73%	0.00%	9.44%	8.98%	0.00%	0.00%	6.10%	1.26%	0.00%	0.00%	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 DXKSX in my portfolio?

HCYIX and DXKSX have a correlation of -0.49, 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 DXKSX?

DXKSX has higher volatility (2.56%) compared to HCYIX (2.04%). In terms of maximum drawdown, HCYIX dropped -25.70% vs DXKSX's -85.78%.

Which has better risk-adjusted returns?

HCYIX currently has the higher Sharpe Ratio (1.80 vs 0.38), 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.