HCM Defender 100 Index ETF

HCM Defender 100 Index ETF (QQH) tracks an index that its own adviser, Howard Capital Management, built and maintains. The index holds large US technology stocks while a trend signal is positive and moves partly or fully into cash when the market trend turns down. QQH charges 1.00% a year, far above the 0.26% average for similar funds. Part of its stock exposure comes through a leveraged ETF, which has made it swing more than the market.

• Over the year to Oct 27, 2026, QQH returned +5.5%, 9th of 9 among similar funds.
• Its 5-year annualized return was +10.2%.
• In the 2020 COVID crash it fell 28.7% and regained its old high 4.1 months after the low.
• Its worst full calendar year was 2022 (-39.6%); its best was 2023 (+48.1%).
• The deepest fall in its price history was 41.9% (Dec 28, 2021 to Dec 28, 2022), recovered by Jun 5, 2024.

As of Jun 30, 2026, the fund held 99 securities; the ten largest made up 62.75% of assets.

By sector

• Over the three months to Jun 30, 2026, investors withdrew a net $9.0M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +10.12%, +14.55%, -2.97%.

QQH aims to match the HCM Defender 100 Index before fees. Howard Capital Management, the fund's adviser, created the index and maintains it. Its stocks come from the Solactive US Technology 100 Index, which holds the largest and most liquid companies classified as technology under the TRBC sector system. The fund keeps at least 80% of its net assets in the index's securities. It uses representative sampling, which means it can hold a sample of the index rather than every stock.

A proprietary trend model called the BuyLine decides how much is in stocks. It watches the Solactive US Large Cap Index. If that index closes 3.5% below the BuyLine, the index shifts to 70% stocks and 30% cash. At 6.5% below, it shifts to 40% stocks and 60% cash. At 12% below, it goes all cash. It moves back into stocks after five straight closes above the BuyLine.

To match its index, the fund can use derivatives and leveraged ETFs. It can also put up to 20% of its assets in futures, options, swaps and other instruments. As of June 30, 2026, its largest holding was ProShares Ultra QQQ, a leveraged fund, at 19.6% of assets, and cash was 0.12%. Most leveraged ETFs reset daily, so over longer periods their returns can drift well away from a simple multiple of their index. Portfolio turnover was 75%.

• QQH charges 1% a year, versus an average of 0.26% for the similar funds below (9th of 9, cheapest first).
• Of that, 0.77% is the management fee; the rest covers other fund expenses.
• Using the prospectus's standard example, $10,000 invested would cost about $102 in the first year and $1,225 over 10 years (assuming a 5% annual return).

QQH is concentrated in large US tech stocks, holds a leveraged ETF and costs 1.00% a year, so it fits best as a small, higher-risk slice rather than a foundation.

QQH's trend model is meant to cut stock exposure in downturns, but the fund has still taken deep losses. In the 2020 COVID crash it fell 28.7% between February 19 and March 16, 2020, then recovered by July 2020. In 2022 it lost 39.6%, its worst calendar year. Its deepest drop was 41.9%, from December 2021 to December 2022, and it did not recover until June 2024. The fund launched in October 2019, so it has no 2008 record. Anyone who had to sell shares for spending money in those stretches would have locked in large losses. The fund pays little income: its yield was 0.19% as of October 27, 2026, paid once a year. Costs add up too. In the SEC's standard example, $10,000 invested would pay $1,225 in expenses over 10 years. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.