Direxion HCM Tactical Enhanced US ETF
$43.42−0.14 (−0.32%)
- 1.18%
- $637M
- +21.1%
- 0.45%
- 0M sh
- $43.98
- low $34.19high $44.85
The ETF.net HCMT Grade
D
Score 26 out of 100
- 116 of 127
Score 26 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F15 out of 100Rank 108 of 127Mission
Whether the fund did what it promised, tested against its stated mandate.F5 out of 100Rank 48 of 48Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.F12 out of 100Rank 122 of 126Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C45 out of 100Rank 67 of 127Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A78 out of 100Rank 21 of 127
Our read on HCMT
DA market-timing model in ETF form. HCMT follows the HCM-BuyLine signal: leveraged exposure to a broad basket of US stocks when the trend is on, cash when it flips off. An all-in-or-all-out design few active US equity funds attempt.
The Fund seeks capital appreciation and enhanced returns across market cycles broadly correlated with U.S. equities. Its model shifts assets between U.S. equity securities and cash, using derivatives for leveraged exposure when allocated to equities.
Why people hold it
- One ticker, one decision rule. The HCM-BuyLine momentum signal moves the fund between derivative-boosted US equity exposure and cash, instead of leaving the timing call to you.
- The equity sleeve is broad, roughly 500 US stocks, so the leverage rides the whole market rather than a handful of names.
- Conventional 1940 Act fund wrapper: a standard 1099 rather than a K-1, with distributions paid quarterly.
Worth knowing
- The 1.18% expense ratio sits well above the typical active US equity ETF, and far above broad index-style peers like DFAU and DFAC that charge a fraction of it.
- Leverage magnifies losses as well as gains, and a model that steps to cash can be late in both directions: into the decline and out of the rebound.
- Launched in 2023 and thinly traded, so the live record is short and bid-ask spreads can run wider than the category's heaviest-volume names.
HCMT Holdings
- Stocks
- 509
- 71%
- Qqq Swap Asset Leg (Qqqbcl)
Sectors
- Technology40.7%
- Financials11.2%
- Communication9.7%
- Health Care9.1%
- Consumer Discretionary8.7%
- Industrials7.3%
- Consumer Staples4.4%
- Energy3.5%
- Utilities1.9%
- Materials1.7%
- Real Estate1.7%
Geography
- United States97.64%
- Ireland1.21%
- United Kingdom0.39%
- Switzerland0.29%
- Singapore0.26%
- Netherlands0.10%
- Bermuda0.08%
- Canada0.03%
HCMT Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.
HCMT$12,114
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | HCMT |
|---|---|
| Year to date | +13.5% |
| 1 month | +5.9% |
| 3 months | +5.1% |
| 1 year | +21.1% |
| 3 years | +22.2% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | HCMT |
|---|---|---|
| 2026 YTD | +13.5% | |
| 2025 | +7.4% | |
| 2024 | +39.2% | |
| 2023 | +5.6% |
HCMT in the news
HCMT Dividends
- 0.45%
- $0.20
- $0.0037 per share
- Quarterly
Distribution history
HCMT Risk
- 24.2%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.80
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −36.3%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.56
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
HCMT Cost
1.18%
HCMT1.18%
- The middle half of US Active Equity funds
- Median 0.70%
105 of the 123 US Active Equity funds charge less.
Other funds in US Active Equity
- DKOOLNorth Shore Equity Rotation ETFExpense ratio 1.32%1 year return +20.6%
- DRULEAdaptive Core ETFExpense ratio 2.24%1 year return +39.2%
- DBSRBeacon Unified Catalyst ETFExpense ratio 1.48%1 year return +9.1%
- FAVRYAvory Foundational ETFExpense ratio 0.89%1 year return —
- FMSTQLHA Market State Tactical Q ETFExpense ratio 1.59%1 year return +20.3%