HIBL vs. HIBS
HIBL (Direxion Daily S&P 500 High Beta Bull 3X Shares) and HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) are both exchange-traded funds - HIBL is a Leveraged Equities fund tracking the S&P 500 High Beta Index (300%), while HIBS is a Inverse Equities fund tracking the S&P 500® High Beta Index. Both are passively managed. Over the past 5 years, HIBL returned 11.80%/yr vs -54.56%/yr for HIBS. Their -0.99 correlation means they have often moved in opposite directions in the past. HIBL charges 1.12%/yr vs 1.06%/yr for HIBS.
Performance
HIBL vs. HIBS - Performance Comparison
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Returns By Period
In the year-to-date period, HIBL achieves a 66.96% return, which is significantly higher than HIBS's -61.63% return.
HIBL
- 1D
- -1.46%
- 1M
- -7.36%
- 6M
- 56.56%
- YTD
- 66.96%
- 1Y
- 134.67%
- 3Y*
- 44.55%
- 5Y*
- 11.80%
- 10Y*
- —
- ALL TIME*
- 18.51%
HIBS
- 1D
- 1.93%
- 1M
- -0.58%
- 6M
- -57.68%
- YTD
- -61.63%
- 1Y
- -76.33%
- 3Y*
- -60.94%
- 5Y*
- -54.56%
- 10Y*
- —
- ALL TIME*
- -68.06%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.73M | $6.00M | $6.51M | |
| $7.08M | $5.48M | $4.97M |
HIBL vs. HIBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HIBL Direxion Daily S&P 500 High Beta Bull 3X Shares | 66.96% | 60.38% | -0.40% | 81.02% | -68.24% | 129.14% | -24.96% | 19.23% |
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | -61.63% | -72.44% | -26.60% | -62.94% | -7.59% | -75.27% | -91.59% | -17.80% |
Correlation
The correlation between HIBL and HIBS is -1.00, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -1.00 |
Correlation (3Y) Balances recent behavior with more history. | -1.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -1.00 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019 | -0.99 |
The correlation between HIBL and HIBS has been stable across timeframes, ranging from -1.00 to -0.99 - a consistent structural relationship.
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Return for Risk
HIBL vs. HIBS — Risk / Return Rank
HIBL
HIBS
HIBL vs. HIBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL) and Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HIBL | HIBS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.65 | ||
| Sortino ratioReturn per unit of downside risk | +4.06 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.80 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 3.38 | -0.97 | +4.34 |
| Martin ratioReturn relative to average drawdown | 11.32 | -1.52 | +12.85 |
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Drawdowns
HIBL vs. HIBS - Drawdown Comparison
The maximum HIBL drawdown since its inception was -88.27%, smaller than the maximum HIBS drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for HIBL and HIBS.
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Drawdown Indicators
| HIBL | HIBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.27% | -99.98% | +11.71% |
Max Drawdown (1Y)Largest decline over 1 year | -40.14% | -78.96% | +38.82% |
Max Drawdown (3Y)Largest decline over 3 years | -69.66% | -96.91% | +27.25% |
Max Drawdown (5Y)Largest decline over 5 years | -81.58% | -98.61% | +17.03% |
Current DrawdownCurrent decline from peak | -20.01% | -99.98% | +79.97% |
Average DrawdownAverage peak-to-trough decline | -43.51% | -93.25% | +49.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.94% | 50.04% | -38.10% |
Volatility
HIBL vs. HIBS - Volatility Comparison
Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL) and Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) have volatilities of 29.50% and 30.63%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIBL | HIBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.50% | 30.63% | -1.13% |
Volatility (6M)Calculated over the trailing 6-month period | 66.39% | 67.54% | -1.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 79.61% | 80.79% | -1.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.89% | 84.15% | -0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 92.61% | 95.42% | -2.81% |
HIBL vs. HIBS - Expense Ratio Comparison
HIBL has a 1.12% expense ratio, which is higher than HIBS's 1.06% expense ratio.
Dividends
HIBL vs. HIBS - Dividend Comparison
HIBL's dividend yield for the trailing twelve months is around 1.36%, less than HIBS's 9.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HIBL Direxion Daily S&P 500 High Beta Bull 3X Shares | 1.36% | 2.43% | 0.82% | 0.69% | 0.00% | 0.06% | 0.19% | 0.19% |
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | 9.25% | 8.42% | 5.34% | 6.49% | 0.04% | 0.00% | 0.92% | 0.13% |
Frequently Asked Questions
HIBL and HIBS have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIBS has higher volatility (30.63%) compared to HIBL (29.50%). In terms of maximum drawdown, HIBL dropped -88.27% vs HIBS's -99.98%.
On 5-year performance, HIBL leads with 11.80% vs -54.56% for HIBS. On fees, HIBS is cheaper at 1.06% per year. On volatility, HIBL has been the lower-risk option at 29.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HIBL has performed better with a 11.80% return vs -54.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HIBS is cheaper with a 1.06% expense ratio, compared with 1.12% for HIBL.
HIBS has the higher dividend yield at 9.25%, compared with 1.36% for HIBL.
HIBL is categorized as Leveraged Equities, while HIBS is Inverse Equities. HIBL tracks S&P 500 High Beta Index (300%), while HIBS tracks S&P 500® High Beta Index. Their fees differ too: 1.12% for HIBL and 1.06% for HIBS.
HIBL currently has the higher Sharpe Ratio (1.70 vs -0.95), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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