Left ventricular ejection fraction (EF) at rest and during exercise was measured in 19 patients with hypertrophic cardiomyopathy (HCM) by means of radionuclide angiography. The results were compared to those in 20 normal subjects. Based on hemodynamic data, patients with HCM were divided into three groups. In group I, no demonstrable left ventricular outflow obstruction, there were five patients; their mean EF increased from 68% ± 8.9 (±SD) at rest to 74% ± 9.2 during exercise ( p < 0.05). In group II, latent obstruction, there were six patients; their mean EF at rest (75.2% ± 8.2) and at peak exercise (78.7% ± 6.7) was not statistically different ( p > 0.05). Group III, obstruction present at rest, consisted of eight patients; EF at rest (82.6% ± 8.5) decreased significantly during exercise (75.6% ± 7.7, p < 0.01). In normal subjects resting EF was 66.3% ± 7.6; it increased to 76.4% ± 7 ( p < 0.001). Exercise duration and heart rate-blood pressure product were lower in groups II and III. Thus there are significant differences in left ventricular systolic function both at rest and during exercise between these three major hemodynamic subgroups. These findings emphasize the importance of such a hemodynamic classification of HCM.