DYNF vs HCMT

DYNFAiShares U.S. Equity Factor Rotation Active ETF

HCMTFDirexion HCM Tactical Enhanced US ETF

In short

DYNF Most factor funds make you pick a lane: value, momentum, quality. DYNF rotates across five styles instead, letting a factor model decide which one leads, and charges an index-fund-ish 0.26% to do it.

HCMT A 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.

Stated mandate

DYNF The Fund seeks to outperform the U.S. equity market through diversified, tactical exposure to style factors using a factor rotation model.

HCMT 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

• DYNF Five style factors in one ticket (value, quality, momentum, growth, low volatility), reweighted by a rotation model rather than locked to a single tilt.
• 0.26% is well under half the median fee in its active US equity peer group, which is unusual pricing for a strategy with a human-supervised model behind it.
• A multi-billion-dollar fund and one of the more actively traded names in its category, so getting in and out rarely becomes the hard part. Pays quarterly.
• Running since 2019 under one of the biggest ETF shops, and it stands among the strongest overall implementations in the active US equity group we track.

• HCMT 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

• DYNF The yardstick isn't the S&P 500: it's a custom blend of 80% MSCI USA and 20% MSCI USA Minimum Volatility, so a low-vol tilt is baked into the benchmark itself.
• Active by design. The factor mix shifts, the book runs to a couple hundred stocks, and a rotation call can leave it out of step with a plain US market index fund.
• Cheap for active, not the cheapest shelf: systematic peers DFAU (0.12%), AVLC (0.15%), DFAC (0.17%) and FELC (0.18%) all undercut it on fee.

• HCMT 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.

Full DYNF profile⁠

Full HCMT profile⁠