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DMAXvsHCMTETF Comparison

ETF 1

DMAX

iShares Large Cap Max Buffer Dec ETF

This fund is part of

Options Strategies

-0.26%

Full DMAX fund page

VS

ETF 2

HCMT

Direxion HCM Tactical Enhanced US ETF

This fund is part of

Alternatives

-0.39%

Full HCMT fund page

iShares Large Cap Max Buffer Dec ETF (DMAX) belongs to the Options Strategies segment. Direxion HCM Tactical Enhanced US ETF (HCMT) is part of the Alternatives segment. DMAX's top 3 sector exposures are Technology, Finance and Healthcare. In contrast, HCMT's top sector exposures are Technology, Finance and Consumer Non-Cyclicals. DMAX is less expensive with a Total Expense Ratio (TER) of 0.53%, versus 1.18% for HCMT. DMAX is up 4.05% year-to-date (YTD) with +$50M in YTD flows. HCMT performs better with 7.7% YTD performance, and -$20M in YTD flows. Run a side-by-side ETF comparison of DMAX and HCMT below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

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DMAX vs HCMT performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 08/28/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	DMAX HCMT	+0.98%+9.75%	+1.57%-1.20%	+4.05%+7.70%	+6.83%+18.39%	n/a+70.37%	n/an/a
Flows	DMAX HCMT	-$3M-$4M	-$2M-$13M	+$50M-$20M	+$44M-$10M	-+$233M	--

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	DMAX HCMT	+1.96%+36.77%	+2.23%+28.50%	n/a+29.51%	n/an/a
Max drawdown	DMAX HCMT	-0.59%-15.61%	-1.47%-15.61%	n/a-36.18%	n/an/a
Max drawdown duration	DMAX HCMT	10d87d	44d87d	n/a246d	n/an/a

Trading data

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	DMAX	HCMT
Last sale 8/28/2026 at 1:30 PM	$27.70	$41.36
Previous close 08/28/2026	$27.69	$41.84
Consolidated volume 08/28/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Main metrics

Last update 8/28/2026 at 1:30 PM

Live

Closed

	DMAX	HCMT
Last price	$27.70	$41.36
1D performance	+0.02%	-1.15%
AuM	$136.36 M	$600.50 M
E/R	0.53%	1.18%

Characteristics

	DMAX	HCMT
Management strategy	Active	Active
Provider	iShares	Direxion
Benchmark	-	-
N° of holdings	496	495
Asset class	-	-
Trailing 12m distribution yield	Join	Join
Inception date	December 31, 2024	June 22, 2023
ESG	No	No

More DMAX data on Trackinsight

More HCMT data on Trackinsight

Exposure

Countries

DMAX

USA

100.84%

Other

-0.84%

HCMT

USA

81.84%

Other

18.16%

Sectors

DMAX

Technology

46.39%

Finance

14.53%

Healthcare

9.31%

Consumer Non-Cycl.

9.26%

Industrials

7.86%

Other

12.65%

HCMT

Technology

37.93%

Finance

11.79%

Consumer Non-Cycl.

7.98%

Healthcare

7.54%

Other

34.76%

Diversification

DMAX

Total weight of top 15 holdings out of 15

45.18%

HCMT

Total weight of top 15 holdings out of 15

37.35%

Top 15 holdings

Data as of July 31, 2026

DMAX

Apple, Inc.

7.92%

NVIDIA Corp.

7.64%

Microsoft Corp.

5.42%

Amazon.com, Inc.

3.73%

Alphabet, Inc.

3.17%

Broadcom Inc.

2.97%

Alphabet, Inc.

2.55%

Meta Platforms, Inc.

1.92%

Micron Technology, Inc.

1.60%

JPMorgan Chase & Co.

1.52%

Berkshire Hathaway, Inc.

1.51%

Eli Lilly & Co.

1.48%

Tesla, Inc.

1.41%

Advanced Micro Devices, Inc.

1.28%

US30233Q1085

1.05%

HCMT

NVIDIA Corp.

6.40%

Apple, Inc.

5.98%

Microsoft Corp.

4.55%

Amazon.com, Inc.

3.50%

Alphabet, Inc.

2.75%

Broadcom Inc.

2.43%

Alphabet, Inc.

2.22%

Meta Platforms, Inc.

1.61%

JPMorgan Chase & Co.

1.24%

Berkshire Hathaway, Inc.

1.23%

Micron Technology, Inc.

1.22%

Eli Lilly & Co.

1.20%

Tesla, Inc.

1.15%

Advanced Micro Devices, Inc.

1.02%

US30233Q1085

0.85%

Frequently asked questions about DMAX and HCMT

How have the DMAX and HCMT ETFs performed in 2026?

As of August 28, 2026, DMAX is up 4.05% year-to-date (YTD), while HCMT has returned 7.7%. That puts HCMT better performer ahead so far this year.

Which ETF is attracting more investor money: DMAX or HCMT?

Year-to-date, the DMAX ETF saw +$50M in flows, compared to -$20M for HCMT.

Which ETF is more volatile: DMAX or HCMT?

Over the past year, DMAX had a volatility of 2.23%, while HCMT experienced 28.5%.

Which ETF is bigger: DMAX or HCMT?

As of August 28, 2026, DMAX holds $136.36 M in assets under management (AUM), while HCMT manages $600.50 M.

What sectors do the DMAX and HCMT ETFs invest in?

DMAX leans toward sectors like Technology, Finance and Healthcare. Meanwhile, HCMT focuses on Technology, Finance and Consumer Non-Cyclicals.

What are the top holdings of the DMAX ETF and HCMT ETF?

DMAX top holdings include Apple, Inc., NVIDIA Corp. and Microsoft Corp.. HCMT holds in its top three: NVIDIA Corp., Apple, Inc. and Microsoft Corp..

Which ETF is more diversified: DMAX or HCMT?

DMAX holds 504 securities with 45.18% of its assets in the top 15. HCMT has 503 securities and a top 15 weight of 37.35%.

Episode 8: Laura Morrison, Chief Revenue Officer at Direxion

July 25, 2023

HCMT

DMAXvsHCMTETF Comparison

iShares Large Cap Max Buffer Dec ETF

Direxion HCM Tactical Enhanced US ETF

DMAX vs HCMT performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the DMAX and HCMT ETFs performed in 2026?

As of August 28, 2026, DMAX is up 4.05% year-to-date (YTD), while HCMT has returned 7.7%. That puts HCMT better performer ahead so far this year.

Which ETF is attracting more investor money: DMAX or HCMT?

Year-to-date, the DMAX ETF saw +$50M in flows, compared to -$20M for HCMT.

Which ETF is more volatile: DMAX or HCMT?

Over the past year, DMAX had a volatility of 2.23%, while HCMT experienced 28.5%.

Which ETF is bigger: DMAX or HCMT?

As of August 28, 2026, DMAX holds $136.36 M in assets under management (AUM), while HCMT manages $600.50 M.

What sectors do the DMAX and HCMT ETFs invest in?

DMAX leans toward sectors like Technology, Finance and Healthcare. Meanwhile, HCMT focuses on Technology, Finance and Consumer Non-Cyclicals.

What are the top holdings of the DMAX ETF and HCMT ETF?

DMAX top holdings include Apple, Inc., NVIDIA Corp. and Microsoft Corp.. HCMT holds in its top three: NVIDIA Corp., Apple, Inc. and Microsoft Corp..

Which ETF is more diversified: DMAX or HCMT?

DMAX holds 504 securities with 45.18% of its assets in the top 15. HCMT has 503 securities and a top 15 weight of 37.35%.

Episode 8: Laura Morrison, Chief Revenue Officer at Direxion

Active Trader Report: Use of Leveraged & Inverse ETFs Way Up