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THROvsHCMTETF Comparison

ETF 1

THRO

iShares U.S. Thematic Rotation Active ETF

This fund is part of

Multiple Trends

-1.79%

Full THRO fund page

VS

ETF 2

HCMT

Direxion HCM Tactical Enhanced US ETF

This fund is part of

Alternatives

-0.47%

Full HCMT fund page

iShares U.S. Thematic Rotation Active ETF (THRO) belongs to the Multiple Trends segment. Direxion HCM Tactical Enhanced US ETF (HCMT) is part of the Alternatives segment. THRO's top 3 sector exposures are Technology, Consumer Non-Cyclicals and Finance. In contrast, HCMT's top sector exposures are Technology, Finance and Consumer Non-Cyclicals. THRO is less expensive with a Total Expense Ratio (TER) of 0.57%, versus 1.18% for HCMT. THRO is up 13.08% year-to-date (YTD) with -$1.59B in YTD flows. HCMT performs worse with 5.42% YTD performance, and -$20M in YTD flows. Run a side-by-side ETF comparison of THRO 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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THRO vs HCMT performance and flow charts

Performance

Cumulative Flows

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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 09/01/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	THRO HCMT	+0.72%+1.55%	+0.13%-5.32%	+13.08%+5.42%	+19.48%+19.87%	+79.34%+59.33%	n/an/a
Flows	THRO HCMT	+$131M-$921K	-$349M-$11M	-$1.59B-$20M	-$134M-$5M	+$5.01B+$231M	--

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	THRO HCMT	+15.91%+36.85%	+14.57%+28.46%	+16.24%+29.50%	n/an/a
Max drawdown	THRO HCMT	-5.58%-15.61%	-10.86%-15.61%	-19.10%-36.18%	n/an/a
Max drawdown duration	THRO HCMT	62d91d	77d91d	154d246d	n/an/a

Trading data

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	THRO	HCMT
Last sale 9/2/2026 at 1:30 PM	$43.73	$40.69
Previous close 09/01/2026	$43.55	$40.45
Consolidated volume 09/01/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Main metrics

Last update 9/2/2026 at 1:30 PM

Live

Closed

	THRO	HCMT
Last price	$43.73	$40.69
1D performance	+0.41%	+0.59%
AuM	$6.74 B	$587.80 M
E/R	0.57%	1.18%

Characteristics

	THRO	HCMT
Management strategy	Active	Active
Provider	iShares	Direxion
Benchmark	-	-
N° of holdings	231	495
Asset class	-	-
Trailing 12m distribution yield	Join	Join
Inception date	December 16, 2021	June 22, 2023
ESG	No	No

More THRO data on Trackinsight

More HCMT data on Trackinsight

Exposure

Countries

THRO

USA

95.1%

Other

4.9%

HCMT

USA

81.84%

Other

18.16%

Sectors

THRO

Technology

48.6%

Consumer Non-Cycl.

11.57%

Finance

10.95%

Industrials

8.37%

Healthcare

7.38%

Other

13.14%

HCMT

Technology

37.93%

Finance

11.79%

Consumer Non-Cycl.

7.98%

Healthcare

7.54%

Other

34.76%

Diversification

THRO

Total weight of top 15 holdings out of 15

54.3%

HCMT

Total weight of top 15 holdings out of 15

37.35%

Top 15 holdings

Data as of July 31, 2026

THRO

Apple, Inc.

8.89%

NVIDIA Corp.

7.36%

Microsoft Corp.

6.34%

Amazon.com, Inc.

4.97%

Alphabet, Inc.

4.10%

JPMorgan Chase & Co.

3.34%

Broadcom Inc.

2.75%

Micron Technology, Inc.

2.30%

US30233Q1085

2.28%

Caterpillar, Inc.

2.15%

Johnson & Johnson

2.12%

Alphabet, Inc.

2.05%

Walmart, Inc.

2.04%

RTX Corp.

1.80%

Visa, Inc.

1.80%

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 THRO and HCMT

How have the THRO and HCMT ETFs performed in 2026?

As of September 1, 2026, THRO is up 13.08% year-to-date (YTD), while HCMT has returned 5.42%. That puts THRO better performer ahead so far this year.

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

Year-to-date, the THRO ETF saw -$1.59B in flows, compared to -$20M for HCMT.

Which ETF is more volatile: THRO or HCMT?

Over the past year, THRO had a volatility of 14.57%, while HCMT experienced 28.46%.

Which ETF is bigger: THRO or HCMT?

As of September 1, 2026, THRO holds $6.74 B in assets under management (AUM), while HCMT manages $587.80 M.

What sectors do the THRO and HCMT ETFs invest in?

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

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

THRO 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: THRO or HCMT?

THRO holds 241 securities with 54.3% 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

THROvsHCMTETF Comparison

iShares U.S. Thematic Rotation Active ETF

Direxion HCM Tactical Enhanced US ETF

THRO 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 THRO and HCMT ETFs performed in 2026?

As of September 1, 2026, THRO is up 13.08% year-to-date (YTD), while HCMT has returned 5.42%. That puts THRO better performer ahead so far this year.

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

Year-to-date, the THRO ETF saw -$1.59B in flows, compared to -$20M for HCMT.

Which ETF is more volatile: THRO or HCMT?

Over the past year, THRO had a volatility of 14.57%, while HCMT experienced 28.46%.

Which ETF is bigger: THRO or HCMT?

As of September 1, 2026, THRO holds $6.74 B in assets under management (AUM), while HCMT manages $587.80 M.

What sectors do the THRO and HCMT ETFs invest in?

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

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

THRO 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: THRO or HCMT?

THRO holds 241 securities with 54.3% 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

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