Fund Evaluator:
HCM Tactical Plus R (HCMSX)
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Best Performing in Large Growth Over the Last Year
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Fund Details
HCM Tactical Plus R Overview
HCM Tactical Plus R (HCMSX) is an actively managed U.S. Equity Large Growth fund. Howard Capital Management launched the fund in 2014.
The investment seeks long-term capital appreciation. The fund adviser seeks to achieve its investment objective through investments in (i) domestic equity securities of any market capitalization, (ii) investment companies (mutual funds, closed-end funds and ETFs) and (iii) cash and cash equivalents and put and call options. When the fund is out of the market, it invests in cash and cash equivalents and/or put options to hedge the fund’s equities and to reduce volatility. The fund may be invested from 0-100% in cash and cash equivalents and/or put and call options and 0-100% in equities depending on the strength of the trend identified by the HCM-BuyLine®.
About HCM Tactical Plus R (HCMSX)
There are 1 members of the management team with an average tenure of 12.01 years: Vance Howard (2014). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and HFRX Equity Hedge USD index with a weighting of 100%. HCM Tactical Plus R has 33 securities in its portfolio. The top 10 holdings constitute 93.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
HCM Tactical Plus R is part of the Equity global asset class and is within the U.S. Equity fund group. HCM Tactical Plus R has 1.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 84.3%. There is 1.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.2% (0.2% domestic bond, 0.0% foreign bond and 0.0% convertible bond). HCM Tactical Plus R has 13.5% of the portfolio in cash.
Assets Under Management
The fund has $44 million in total assets, which is below the $2 billion average for the Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
HCMSX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The HCM Tactical Plus R expense ratio is high compared to funds in the Large Growth category. HCM Tactical Plus R has an expense ratio of 2.25%, which is 134% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. HCM Tactical Plus R has a portfolio turnover rate of 264%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 54% for the Large Growth category.
Recently, in the month of July 2026, HCM Tactical Plus R returned -8.1%, which earned it a grade of F, as the Large Growth category had an average return of -3.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
HCM Tactical Plus R has a trailing yield of 0.00%, which is below the 0.06% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
HCM Tactical Plus R Grades
Year to date, the fund has returned 1.8%, 1.9 percentage points worse than the category, which translates into a grade of D. The fund has returned 14.0% over the past year (grade of B), 17.0% over the past three years (grade of D) and 8.1% per year over the past five years (grade of D) and 16.5% per year over the past 10 years (grade of B).
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HCMSX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| HCMSX Return (NAV) | -8.1% | 1.8% | 14.0% | 17.0% | 8.1% | 16.5% |
| HCMSX Grade | F | C | B | D | D | B |
| +/- Category | -5.1% | 0.1% | 5.0% | -1.1% | -0.6% | 1.1% |
| Large Growth Avg | -3.1% | 1.7% | 9.1% | 18.1% | 8.7% | 15.4% |
| HCMSX Tax Cost Ratio | na | na | 0.8% | 1.5% | 1.0% | 0.7% |
HCMSX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| HCMSX Return (NAV) | 1.8% | 17.4% | 33.8% | 33.1% | -38.5% | 39.7% | 53.2% | 22.6% | -6.8% | 33.2% | 10.5% |
| HCMSX Grade | D | B | B | D | F | A | A | F | F | B | A |
| +/- Category | -1.9% | 1.7% | 4.2% | -5.8% | -6.4% | 19.3% | 10.9% | -10.6% | -6.1% | 3.4% | 7.8% |
| Large Growth Avg | 3.7% | 15.7% | 29.7% | 38.9% | -32.1% | 20.4% | 42.3% | 33.2% | -0.7% | 29.8% | 2.7% |
| Risk Measures | |
| Standard Deviation: | 21.5% |
| Total Risk Index: | 1.75 - High |
| Category Risk Index: | 1.21 - High |
| Category Risk Grade: | F (91% Rank) |
| Beta: | 1.41 |
| R-Squared: | 74% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $2028 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 264% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 12.0 years | |||
| Average Tenure: 12.0 years | |||
| Managers (Year): Howard Vance (2014) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 33 |
| % in Top 10 Holdings: | 93.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.8% |
Portfolio Allocation |
|
| Domestic Stock: | 84.3% |
| Foreign Stock: | 1.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.2% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.2% |
| Cash: | 13.5% |
Purchase Information
| Fund Family: | Howard Capital Management |
| Phone Number: | 855-969-8464 |
| Website: | www.boydwatterson.com |
| Status: | Open |
| Inception Date: | July 30, 2014 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 2.25% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.96% |
| Share Class: | HCM Tactical Plus I |
| Min. Subsequent Purchase: | $ 500 |
| Min. Subsequent IRA Purchase: | $ 250 |
