LGH vs RISN: Grades, Fees and Holdings Compared

HCM Defender 500 Index ETF

LGHBNYSE Arca

Inspire Capital Appreciation ETF

RISNANYSE Arca

Overlap

7.9%by weight

Expense ratio

RISN −0.30pt a year

LGH1.02%RISN0.72%

Avg volume · 30D

LGH 1.6×the volume

LGH23KRISN14.8K

5Y return · a year

LGH +5.0pt

LGH+8.4%RISN+3.4%

LGH vs RISN Performance

Oct 29, 2021 – Oct 30, 2026

+49.7%LGH+18.4%RISN

Expense ratio: LGH 1.02%; RISN 0.72%, better
Fund size: LGH $578M; RISN $70M
1Y total return: LGH +3.7%; RISN +4.8%, better
Yield (12M): LGH 0.37%; RISN 1.05%, better
Holdings: LGH 418; RISN 53
Avg volume (30D): LGH 23K sh, better; RISN 14.8K sh
NAV per share: LGH $64.59; RISN $31.09
52W range

ETF.net Grade

Pillar letters and Scores for LGH, RISN, with each pillar’s weight
Pillar	LGH	RISN
Cost30% weight	D33	A76Higher
Mission25% weight	A75	A85Higher
Risk15% weight	D35	C46Higher
Tradability15% weight	A95Higher	B64
Holdings10% weight	A83Higher	A80
Durability5% weight	A89Higher	B68

Rank among Tactical Allocation funds

How we build Categories ›

Same Category. LGH and RISN are both graded against the same 46 Tactical Allocation funds, so their Grades compare head to head.

Tactical Allocation⁠

Category · 46 funds

See all 46 ›

RISN ranks 4th and LGH 12th of 46 funds in the Tactical Allocation Category.

Rank 1AENDWCambria Endowment Style ETFScore 81
Rank 2AGMODGMO Dynamic Allocation ETFScore 76
Rank 3APTBDPacer Trendpilot US Bond ETFScore 72
Rank 4ARISNInspire Capital Appreciation ETFScore 71
Rank 5BPBLPGIM Portfolio Ballast ETFScore 69
Rank 11BHEFTHedgeye Fourth Turning ETFScore 62
Rank 12BLGHHCM Defender 500 Index ETFScore 60
Rank 12BMOODRelative Sentiment Tactical Allocation ETFScore 60

Our read on each fund

ETF.net Research

LGHBHCM Defender 500 Index ETF

RISNAInspire Capital Appreciation ETF

In short

LGH A 500-stock US large-cap index with an eject button. HCM's own trend model can cut equity exposure to 70/30, 40/60 or all cash, then waits for the market to close back above the line before buying in again. Fee: 1.00% a year.

RISN A tactical blend of U.S. large-cap stocks and U.S. bonds from a values-screening shop, built to chase long-term growth with less turbulence than the large-cap market, at a fee below the typical tactical peer.

Stated mandate

LGH The Fund seeks to track the HCM Defender 500 Index before fees and expenses. Its index generally uses large-capitalization U.S. equities but can reduce exposure through 70/30, 40/60, or all-cash positions as market conditions change.

RISN The fund seeks long-term capital appreciation with lower volatility than the U.S. large-cap stock market.

Why people hold it

LGH The exit ramp is the product. A trend signal, not a manager's gut, decides when the index steps down from full equity to 70/30, 40/60 or all cash, and re-entry requires five straight closes back above the line.howardcm.com
Self-indexed and founder-run: Howard Capital Management sponsors, builds and maintains the index itself, and the firm's founder has been the portfolio manager since the fund began operations in 2019.howardcm.com
One of the better-built options in a crowded tactical-allocation field of dozens of funds, with years of live record behind the signal rather than a backtest.

RISN Charges 0.72% a year, under the going rate for tactical multi-asset funds that actively shift their mix.
One ticket holds U.S. large-cap equities alongside U.S. fixed income, with the stated aim of long-term appreciation at lower volatility than U.S. large caps.
One of the stronger implementations in a crowded tactical multi-asset field, with a live record going back to its 2020 launch.
Pays out quarterly, so the bond sleeve shows up as scheduled cash rather than a once-a-year surprise.

Worth knowing

LGH 1.00% a year sits above the category median fee, and well above peers like ENDW at 0.22% or PBL at 0.45%. That is active-manager pricing for a rules-based overlay.
Trend models move late by design. The index only de-risks after the market has already fallen below the line, and only re-risks after five confirming closes, so it can hold cash while stocks are climbing.howardcm.com
Equity exposure can come indirectly, through derivatives, other funds and leveraged ETFs, which adds plumbing most plain index funds do not carry.sec.gov howardcm.com

RISN Thinly traded and modest in size, so bid-ask spreads can matter more than the fee does. Limit orders are the standard workaround.
Tactical means judgment calls: the allocation can look nothing like a fixed stock/bond blend at any given moment.
Cheap for tactical, not cheap outright. Peers such as ENDW (0.22%) and ONOF (0.39%) run at a fraction of the fee.

Full LGH profile⁠

Full RISN profile⁠

LGH vs RISN Holdings

How LGH and RISN differ

Overlap by weight

7.9%

Shared holdings make up 79.0% of RISN and 8.6% of LGH.

Level by level

Holdings49 in both7.9%
Asset classEquity100%
Countryby domicile99.7%

Sector

No Sector split for LGH.

Country, concentration and asset class

Country by domicile

Country weights in LGH and RISN, widest gap first
Country	More in LGHMore in RISN	LGH	RISN
United States	RISN +0.3 points	99.7%	100.0%
Switzerland	LGH +0.3 points	0.3%	0.0%
China	LGH +0.1 points	0.1%	0.0%

Concentration

Weight in the 10 largest Holdings

LGH51.6%
RISN35.2%

Securities held

LGH418
RISN52

Asset class

LGH: Equity
RISN: Equity

Holdings

Only in LGH369
In both49
Only in RISN3

Only in LGH

369 securities, 91.4% of LGH by weight

HCM Defender 500 Index ETF19.11%
HCM Defender 500 Index ETF7.28%
HCM Defender 500 Index ETF6.80%
HCM Defender 500 Index ETF5.38%
HCM Defender 500 Index ETF3.30%
HCM Defender 500 Index ETF2.22%
HCM Defender 500 Index ETF1.92%
HCM Defender 500 Index ETF1.81%
HCM Defender 500 Index ETF1.67%
HCM Defender 500 Index ETF1.55%
HCM Defender 500 Index ETF1.34%
HCM Defender 500 Index ETF1.27%
HCM Defender 500 Index ETF1.03%
HCM Defender 500 Index ETF0.98%
HCM Defender 500 Index ETF0.95%
HCM Defender 500 Index ETF0.91%
HCM Defender 500 Index ETF0.76%
HCM Defender 500 Index ETF0.68%
HCM Defender 500 Index ETF0.64%
HCM Defender 500 Index ETF0.64%
HCM Defender 500 Index ETF0.56%
HCM Defender 500 Index ETF0.51%
HCM Defender 500 Index ETF0.46%
HCM Defender 500 Index ETF0.46%
HCM Defender 500 Index ETF0.45%
HCM Defender 500 Index ETF0.45%
HCM Defender 500 Index ETF0.44%
HCM Defender 500 Index ETF0.40%
HCM Defender 500 Index ETF0.39%
HCM Defender 500 Index ETF0.38%
HCM Defender 500 Index ETF0.38%
HCM Defender 500 Index ETF0.38%
HCM Defender 500 Index ETF0.36%
HCM Defender 500 Index ETF0.36%
HCM Defender 500 Index ETF0.34%
HCM Defender 500 Index ETF0.34%
HCM Defender 500 Index ETF0.33%
HCM Defender 500 Index ETF0.33%
HCM Defender 500 Index ETF0.31%
HCM Defender 500 Index ETF0.31%
HCM Defender 500 Index ETF0.30%
HCM Defender 500 Index ETF0.29%
HCM Defender 500 Index ETF0.27%
HCM Defender 500 Index ETF0.26%
HCM Defender 500 Index ETF0.26%
HCM Defender 500 Index ETF0.25%
HCM Defender 500 Index ETF0.25%
HCM Defender 500 Index ETF0.25%
HCM Defender 500 Index ETF0.24%
HCM Defender 500 Index ETF0.24%

Only in RISN

3 securities, 21.1% of RISN by weight

Wisdomtree Float19.09%
Southern Copper1.50%
Bbh Sweep Vehicle0.49%

Weight gaps

All 49 Holdings in both funds, largest gap first.

Holding weights in LGH and RISN, widest gap first
Holding	More in LGHMore in RISN	LGH	RISN
HCM Defender 500 Index ETFNDAQ	RISN +1.77 points	0.04%	1.81%
HCM Defender 500 Index ETFUPS	RISN +1.73 points	0.09%	1.82%
HCM Defender 500 Index ETFLNG	RISN +1.73 points	0.08%	1.81%
HCM Defender 500 Index ETFRSG	RISN +1.71 points	0.05%	1.76%
HCM Defender 500 Index ETFEOG	RISN +1.69 points	0.10%	1.79%
HCM Defender 500 Index ETFCTAS	RISN +1.69 points	0.08%	1.77%
HCM Defender 500 Index ETFNUE	RISN +1.68 points	0.06%	1.74%
HCM Defender 500 Index ETFOXY	RISN +1.67 points	0.05%	1.72%
HCM Defender 500 Index ETFTRGP	RISN +1.66 points	0.07%	1.73%
HCM Defender 500 Index ETFAFL	RISN +1.66 points	0.06%	1.72%
HCM Defender 500 Index ETFCVNA	RISN +1.66 points	0.02%	1.68%
HCM Defender 500 Index ETFWM	RISN +1.65 points	0.10%	1.75%
HCM Defender 500 Index ETFCRH	RISN +1.65 points	0.06%	1.71%
HCM Defender 500 Index ETFCSX	RISN +1.64 points	0.10%	1.74%
HCM Defender 500 Index ETFKMI	RISN +1.63 points	0.08%	1.71%
HCM Defender 500 Index ETFFDX	RISN +1.62 points	0.08%	1.70%
HCM Defender 500 Index ETFSLB	RISN +1.63 points	0.08%	1.71%
HCM Defender 500 Index ETFNSC	RISN +1.63 points	0.09%	1.72%
HCM Defender 500 Index ETFSPG	RISN +1.61 points	0.08%	1.69%
HCM Defender 500 Index ETFURI	RISN +1.62 points	0.08%	1.70%
HCM Defender 500 Index ETFMMM	RISN +1.61 points	0.10%	1.71%
HCM Defender 500 Index ETFADP	RISN +1.61 points	0.12%	1.73%
HCM Defender 500 Index ETFMDLZ	RISN +1.58 points	0.09%	1.67%
HCM Defender 500 Index ETFICE	RISN +1.58 points	0.10%	1.68%
HCM Defender 500 Index ETFFAST	RISN +1.56 points	0.07%	1.63%
HCM Defender 500 Index ETFORLY	RISN +1.55 points	0.08%	1.63%
HCM Defender 500 Index ETFIQV	RISN +1.55 points	0.04%	1.59%
HCM Defender 500 Index ETFPGR	RISN +1.55 points	0.17%	1.72%
HCM Defender 500 Index ETFAME	RISN +1.49 points	0.06%	1.55%
HCM Defender 500 Index ETFNEE	RISN +1.47 points	0.22%	1.69%
HCM Defender 500 Index ETFBKR	RISN +1.46 points	0.06%	1.52%
HCM Defender 500 Index ETFDAL	RISN +1.46 points	0.05%	1.51%
HCM Defender 500 Index ETFHD	RISN +1.42 points	0.40%	1.82%
HCM Defender 500 Index ETFPCAR	RISN +1.41 points	0.06%	1.47%
HCM Defender 500 Index ETFIBKR	RISN +1.41 points	0.02%	1.43%
HCM Defender 500 Index ETFAPP	RISN +1.38 points	0.06%	1.44%
HCM Defender 500 Index ETFFCX	RISN +1.37 points	0.10%	1.47%
HCM Defender 500 Index ETFVLO	RISN +1.34 points	0.14%	1.48%
HCM Defender 500 Index ETFWDC	RISN +1.33 points	0.15%	1.48%
HCM Defender 500 Index ETFLIN	RISN +1.32 points	0.30%	1.62%
HCM Defender 500 Index ETFPH	RISN +1.29 points	0.14%	1.43%
HCM Defender 500 Index ETFAPH	RISN +1.23 points	0.22%	1.45%
HCM Defender 500 Index ETFFIX	RISN +1.14 points	0.05%	1.19%
HCM Defender 500 Index ETFGEV	RISN +1.08 points	0.29%	1.37%
HCM Defender 500 Index ETFKLAC	RISN +1.06 points	0.25%	1.31%
HCM Defender 500 Index ETFSNDK	RISN +1.02 points	0.18%	1.20%
HCM Defender 500 Index ETFCAT	RISN +0.81 points	0.36%	1.17%
HCM Defender 500 Index ETFAVGO	LGH +0.65 points	2.11%	1.46%
HCM Defender 500 Index ETFXOM	RISN +0.65 points	1.12%	1.77%

All LGH holdings⁠All RISN holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

LGH vs RISN Cost

Overpaying LGH vs RISN

$5,055

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

LGH 1.02%
$19,012
RISN 0.72%
$13,957

Amount$10,000

Years30 years

Cost over time

LGH 1.02%
RISN 0.72%
Overpaying

Year by year

Year	LGH	RISN	Overpaying
10	$1,797	$1,284	$513
20	$6,746	$4,888	$1,858
30	$19,012	$13,957	$5,055

Expense ratio

1.02%LGH
0.72%RISN, cheaper

RISN0.72%LGH1.02%

0.22%1.99%

Middle half of Tactical Allocation funds
Median 0.93%

RISN 12th cheapest of 46 funds

LGH 31st cheapest of 46 funds

LGH vs RISN Dividends

Last 12 months to Oct 30, 2026

Yield (12M): LGH 0.37%; RISN 1.05%, better
Payout (12M): LGH $0.24; RISN $0.32
Last payment: LGH $0.24; RISN $0.08
Ex-dividend: LGH Dec 16, 2025; RISN Sep 25, 2026
Paid on: LGH Dec 22, 2025; RISN Oct 1, 2026
Frequency: LGH Annual; RISN Quarterly

Distribution history

Per share, 2019 to 2026, same scale for both

LGHAnnual · 8 paymentsAll LGH payments⁠

RISNQuarterly · 24 paymentsAll RISN payments⁠

LGH vs RISN Risk

Fall from peak · 5 years

LGH
RISN

Risk facts

VolatilityStd dev, 3 years: LGH 14.9%RISN 11.4%, better
Return per unit of riskSharpe ratio, 3 years: LGH 1.13, betterRISN 0.77
Worst fallMax drawdown, 5 years: LGH −29.4%RISN −21.9%, better
Market sensitivityBeta, 5 years: LGH 1.17RISN 1.08; Market = 1

LGH and RISN in the news

All news⁠

Category Review
The median tactical fund gained 7.8%, no better than a 60/40 mix
Updated Oct 27, 2026LGH
Category Review
Tactical funds ranged from a 32.2% gain to a 12.5% loss
Updated Sep 29, 2026LGH

Popular comparisons

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LGH vs RISN

In short

Stated mandate

Why people hold it

Worth knowing

How LGH and RISN differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in LGH

Only in RISN

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

The median tactical fund gained 7.8%, no better than a 60/40 mix

Tactical funds ranged from a 32.2% gain to a 12.5% loss

How LGH and RISN differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in LGH

Only in RISN

Weight gaps