MODL vs. HCMDX

Last updated Jun 24, 2026

MODL (Victoryshares Westend U.S. Sector ETF) and HCMDX (HCM Tactical Growth Fund) are both funds - MODL is a Large Cap Blend Equities fund actively managed by Victory, while HCMDX is a Large Cap Growth Equities fund managed by Howard Capital Management. Over the past 3 years, MODL returned 18.77%/yr vs 27.76%/yr for HCMDX. Their correlation of 0.87 suggests significant overlap in exposure. MODL charges 0.46%/yr vs 2.84%/yr for HCMDX.

Performance

MODL vs. HCMDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victoryshares Westend U.S. Sector ETF (MODL) and HCM Tactical Growth Fund (HCMDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MODL achieves a 5.53% return, which is significantly lower than HCMDX's 10.91% return.

MODL

• 1D: -1.03%
• 1M: -0.90%
• YTD: 5.53%
• 6M: 4.79%
• 1Y: 20.59%
• 3Y*: 18.77%
• 5Y*: —
• 10Y*: —

HCMDX

• 1D: -0.29%
• 1M: 2.93%
• YTD: 10.91%
• 6M: 8.57%
• 1Y: 36.37%
• 3Y*: 27.76%
• 5Y*: 13.31%
• 10Y*: 19.46%

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

MODL vs. HCMDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MODL Victoryshares Westend U.S. Sector ETF	5.53%	18.99%	24.73%	23.74%	6.45%
HCMDX HCM Tactical Growth Fund	10.91%	16.55%	49.90%	32.05%	-2.19%

Correlation

The correlation between MODL and HCMDX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 12, 2022	0.87

The correlation between MODL and HCMDX has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.

Return for Risk

MODL vs. HCMDX — Risk / Return Rank

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

MODL

MODL Risk / Return Rank: 55
MODL Sharpe Ratio Rank: 57
MODL Sortino Ratio Rank: 57
MODL Omega Ratio Rank: 55
MODL Calmar Ratio Rank: 48
MODL Martin Ratio Rank: 59

HCMDX

HCMDX Risk / Return Rank: 32
HCMDX Sharpe Ratio Rank: 35
HCMDX Sortino Ratio Rank: 28
HCMDX Omega Ratio Rank: 32
HCMDX Calmar Ratio Rank: 40
HCMDX Martin Ratio Rank: 28

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.

MODL vs. HCMDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victoryshares Westend U.S. Sector ETF (MODL) and HCM Tactical Growth Fund (HCMDX). 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.

	MODL	HCMDX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.58	+0.19
Sortino ratio: Return per unit of downside risk	2.50	2.05	+0.46
Omega ratio: Gain probability vs. loss probability	1.32	1.28	+0.04
Calmar ratio: Return relative to maximum drawdown	2.19	2.29	-0.10
Martin ratio: Return relative to average drawdown	9.63	6.12	+3.51

MODL vs. HCMDX - Sharpe Ratio Comparison

The current MODL Sharpe Ratio is 1.77, which is comparable to the HCMDX Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of MODL and HCMDX, 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

MODL vs. HCMDX - Drawdown Comparison

The maximum MODL drawdown since its inception was -17.60%, smaller than the maximum HCMDX drawdown of -40.89%. Use the drawdown chart below to compare losses from any high point for MODL and HCMDX.

Drawdown Indicators

	MODL	HCMDX	Difference
Max Drawdown Largest peak-to-trough decline	-17.60%	-40.89%	+23.29%
Max Drawdown (1Y) Largest decline over 1 year	-9.46%	-17.00%	+7.54%
Max Drawdown (3Y) Largest decline over 3 years	-17.60%	-25.96%	+8.36%
Max Drawdown (5Y) Largest decline over 5 years	—	-40.89%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.89%	—
Current Drawdown Current decline from peak	-2.29%	-2.35%	+0.06%
Average Drawdown Average peak-to-trough decline	-2.03%	-11.38%	+9.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	6.35%	-4.21%

Volatility

MODL vs. HCMDX - Volatility Comparison

The current volatility for Victoryshares Westend U.S. Sector ETF (MODL) is 4.38%, while HCM Tactical Growth Fund (HCMDX) has a volatility of 11.33%. This indicates that MODL experiences smaller price fluctuations and is considered to be less risky than HCMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MODL	HCMDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.38%	11.33%	-6.95%
Volatility (6M) Calculated over the trailing 6-month period	9.18%	18.46%	-9.28%
Volatility (1Y) Calculated over the trailing 1-year period	11.69%	24.61%	-12.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.64%	24.49%	-9.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.64%	24.32%	-9.68%

MODL vs. HCMDX - Expense Ratio Comparison

MODL has a 0.46% expense ratio, which is lower than HCMDX's 2.84% expense ratio.

Dividends

MODL vs. HCMDX - Dividend Comparison

MODL's dividend yield for the trailing twelve months is around 0.73%, less than HCMDX's 2.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HCMDX HCM Tactical Growth Fund	2.69%	2.98%	23.23%	0.00%	0.72%	0.99%	3.24%	0.00%	5.05%	0.00%	0.00%	1.47%
MODL Victoryshares Westend U.S. Sector ETF	0.73%	0.67%	0.83%	1.02%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MODL and HCMDX in my portfolio?

MODL and HCMDX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MODL or HCMDX?

HCMDX has higher volatility (11.33%) compared to MODL (4.38%). In terms of maximum drawdown, MODL dropped -17.60% vs HCMDX's -40.89%.

Which has better risk-adjusted returns?

MODL currently has the higher Sharpe Ratio (1.77 vs 1.58), 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.