PSMD vs. HCMT

Last updated Jun 24, 2026

PSMD (Pacer Swan SOS Moderate (December) ETF) and HCMT (Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF) are both Large Cap Blend Equities funds. Both are actively managed. Over the past 3 years, PSMD returned 12.16%/yr vs 18.91%/yr for HCMT. Their correlation of 0.80 suggests significant overlap in exposure. PSMD charges 0.75%/yr vs 1.17%/yr for HCMT.

Performance

PSMD vs. HCMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Swan SOS Moderate (December) ETF (PSMD) and Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF (HCMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PSMD having a 4.91% return and HCMT slightly lower at 4.79%.

PSMD

• 1D: -0.51%
• 1M: -0.09%
• YTD: 4.91%
• 6M: 5.01%
• 1Y: 13.69%
• 3Y*: 12.16%
• 5Y*: 8.98%
• 10Y*: —

HCMT

• 1D: -4.45%
• 1M: -0.81%
• YTD: 4.79%
• 6M: 2.44%
• 1Y: 32.49%
• 3Y*: 18.91%
• 5Y*: —
• 10Y*: —

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

PSMD vs. HCMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PSMD Pacer Swan SOS Moderate (December) ETF	4.91%	11.45%	12.78%	6.77%
HCMT Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF	4.79%	7.39%	39.14%	6.45%

Correlation

The correlation between PSMD and HCMT is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	0.80

The correlation between PSMD and HCMT has been stable across timeframes, ranging from 0.80 to 0.82 - a consistent structural relationship.

PSMD vs. HCMT - Sectors Allocation Comparison

Sectors	PSMD	HCMT
Technology	34.1%	39.1%
Financial Services	12.6%	11.1%
Communication Services	11.2%	10.6%
Consumer Cyclical	10.6%	9.9%
Healthcare	9.4%	8.3%
Industrials	8.0%	7.8%
Consumer Defensive	5.0%	4.5%
Energy	3.2%	3.1%
Utilities	2.3%	2.1%
Real Estate	1.9%	1.8%
Basic Materials	1.8%	1.7%

Return for Risk

PSMD vs. HCMT — Risk / Return Rank

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

PSMD

PSMD Risk / Return Rank: 81
PSMD Sharpe Ratio Rank: 81
PSMD Sortino Ratio Rank: 86
PSMD Omega Ratio Rank: 87
PSMD Calmar Ratio Rank: 67
PSMD Martin Ratio Rank: 84

HCMT

HCMT Risk / Return Rank: 37
HCMT Sharpe Ratio Rank: 37
HCMT Sortino Ratio Rank: 34
HCMT Omega Ratio Rank: 36
HCMT Calmar Ratio Rank: 45
HCMT Martin Ratio Rank: 36

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.

PSMD vs. HCMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Swan SOS Moderate (December) ETF (PSMD) and Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF (HCMT). 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.

	PSMD	HCMT	Difference
Sharpe ratio: Return per unit of total volatility	2.40	1.24	+1.16
Sortino ratio: Return per unit of downside risk	3.55	1.68	+1.86
Omega ratio: Gain probability vs. loss probability	1.49	1.23	+0.27
Calmar ratio: Return relative to maximum drawdown	3.11	2.14	+0.97
Martin ratio: Return relative to average drawdown	16.22	5.30	+10.92

PSMD vs. HCMT - Sharpe Ratio Comparison

The current PSMD Sharpe Ratio is 2.40, which is higher than the HCMT Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of PSMD and HCMT, 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

PSMD vs. HCMT - Drawdown Comparison

The maximum PSMD drawdown since its inception was -11.96%, smaller than the maximum HCMT drawdown of -36.26%. Use the drawdown chart below to compare losses from any high point for PSMD and HCMT.

Drawdown Indicators

	PSMD	HCMT	Difference
Max Drawdown Largest peak-to-trough decline	-11.96%	-36.26%	+24.30%
Max Drawdown (1Y) Largest decline over 1 year	-4.42%	-15.27%	+10.85%
Max Drawdown (3Y) Largest decline over 3 years	-10.70%	-36.26%	+25.56%
Max Drawdown (5Y) Largest decline over 5 years	-11.96%	—	—
Current Drawdown Current decline from peak	-0.73%	-6.58%	+5.85%
Average Drawdown Average peak-to-trough decline	-1.65%	-8.18%	+6.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	6.15%	-5.30%

Volatility

PSMD vs. HCMT - Volatility Comparison

The current volatility for Pacer Swan SOS Moderate (December) ETF (PSMD) is 1.93%, while Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF (HCMT) has a volatility of 12.47%. This indicates that PSMD experiences smaller price fluctuations and is considered to be less risky than HCMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSMD	HCMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.93%	12.47%	-10.54%
Volatility (6M) Calculated over the trailing 6-month period	4.78%	19.67%	-14.89%
Volatility (1Y) Calculated over the trailing 1-year period	5.75%	26.47%	-20.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.63%	29.01%	-20.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.47%	29.01%	-20.54%

PSMD vs. HCMT - Expense Ratio Comparison

PSMD has a 0.75% expense ratio, which is lower than HCMT's 1.17% expense ratio.

Dividends

PSMD vs. HCMT - Dividend Comparison

PSMD has not paid dividends to shareholders, while HCMT's dividend yield for the trailing twelve months is around 0.40%.

Position	TTM	2025	2024	2023	2022	2021
HCMT Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF	0.40%	0.43%	2.75%	0.63%	0.00%	0.00%
PSMD Pacer Swan SOS Moderate (December) ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.47%

Frequently Asked Questions

Can I hold both PSMD and HCMT in my portfolio?

PSMD and HCMT have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSMD or HCMT?

HCMT has higher volatility (12.47%) compared to PSMD (1.93%). In terms of maximum drawdown, PSMD dropped -11.96% vs HCMT's -36.26%.

Which ETF is better, PSMD or HCMT?

On 3-year performance, HCMT leads with 18.91% vs 12.16% for PSMD. On fees, PSMD is cheaper at 0.75% per year. On volatility, PSMD has been the lower-risk option at 1.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSMD or HCMT?

Over the 3-year period, HCMT has performed better with a 18.91% return vs 12.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSMD or HCMT?

PSMD is cheaper with a 0.75% expense ratio, compared with 1.17% for HCMT.

Which ETF pays a higher dividend yield, PSMD or HCMT?

HCMT has the higher dividend yield at 0.40%, compared with 0.00% for PSMD.

What is the main difference between PSMD and HCMT?

They also come from different issuers: Pacer and Direxion. Their fees differ too: 0.75% for PSMD and 1.17% for HCMT.

Which has better risk-adjusted returns?

PSMD currently has the higher Sharpe Ratio (2.40 vs 1.24), 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.