HIBS vs. AVLC
HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) and AVLC (Avantis U.S. Large Cap Equity ETF) are both exchange-traded funds - HIBS is a Inverse Equities fund tracking the S&P 500® High Beta Index, while AVLC is a Large Cap Blend Equities fund actively managed by American Century. HIBS is passively managed, while AVLC is actively managed. Over the past year, HIBS returned -82.43% vs 32.71% for AVLC. At a correlation of -0.91, they often move in opposite directions. HIBS charges 1.06%/yr vs 0.15%/yr for AVLC.
Performance
HIBS vs. AVLC - Performance Comparison
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Returns By Period
In the year-to-date period, HIBS achieves a -59.50% return, which is significantly lower than AVLC's 14.81% return.
HIBS
- 1D
- 2.48%
- 1M
- -31.05%
- YTD
- -59.50%
- 6M
- -60.46%
- 1Y
- -82.43%
- 3Y*
- -62.99%
- 5Y*
- -53.46%
- 10Y*
- —
AVLC
- 1D
- -0.43%
- 1M
- 5.65%
- YTD
- 14.81%
- 6M
- 15.10%
- 1Y
- 32.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HIBS vs. AVLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | -59.50% | -72.44% | -26.60% | -41.31% |
AVLC Avantis U.S. Large Cap Equity ETF | 14.81% | 17.57% | 22.82% | 12.05% |
Correlation
The correlation between HIBS and AVLC is -0.91, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.91 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2023 | -0.91 |
The correlation between HIBS and AVLC has been stable across timeframes, ranging from -0.91 to -0.91 - a consistent structural relationship.
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Return for Risk
HIBS vs. AVLC — Risk / Return Rank
HIBS
AVLC
HIBS vs. AVLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) and Avantis U.S. Large Cap Equity ETF (AVLC). 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.
| HIBS | AVLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.88 | ||
| Sortino ratioReturn per unit of downside risk | -6.52 | ||
| Omega ratioGain probability vs. loss probability | 0.69 | 1.48 | -0.78 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 4.11 | -5.10 |
| Martin ratioReturn relative to average drawdown | -1.52 | 18.96 | -20.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HIBS | AVLC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.22 | 2.65 | -3.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.65 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.73 | 1.67 | -2.40 |
Drawdowns
HIBS vs. AVLC - Drawdown Comparison
The maximum HIBS drawdown since its inception was -99.98%, which is greater than AVLC's maximum drawdown of -19.64%. Use the drawdown chart below to compare losses from any high point for HIBS and AVLC.
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Drawdown Indicators
| HIBS | AVLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -19.64% | -80.34% |
Max Drawdown (1Y)Largest decline over 1 year | -83.13% | -8.00% | -75.13% |
Max Drawdown (3Y)Largest decline over 3 years | -96.48% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -98.52% | — | — |
Current DrawdownCurrent decline from peak | -99.98% | -0.43% | -99.55% |
Average DrawdownAverage peak-to-trough decline | -93.13% | -1.97% | -91.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 54.38% | 1.73% | +52.65% |
Volatility
HIBS vs. AVLC - Volatility Comparison
Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) has a higher volatility of 22.26% compared to Avantis U.S. Large Cap Equity ETF (AVLC) at 3.02%. This indicates that HIBS's price experiences larger fluctuations and is considered to be riskier than AVLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIBS | AVLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.26% | 3.02% | +19.24% |
Volatility (6M)Calculated over the trailing 6-month period | 52.85% | 9.25% | +43.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.65% | 12.40% | +55.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.46% | 15.69% | +66.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 94.81% | 15.69% | +79.12% |
HIBS vs. AVLC - Expense Ratio Comparison
HIBS has a 1.06% expense ratio, which is higher than AVLC's 0.15% expense ratio.
Dividends
HIBS vs. AVLC - Dividend Comparison
HIBS's dividend yield for the trailing twelve months is around 11.69%, more than AVLC's 0.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
AVLC Avantis U.S. Large Cap Equity ETF | 0.78% | 0.92% | 1.09% | 0.38% | 0.00% | 0.00% | 0.00% | 0.00% |
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | 11.69% | 8.42% | 5.34% | 6.49% | 0.04% | 0.00% | 0.92% | 0.13% |
Frequently Asked Questions
HIBS and AVLC have a correlation of -0.91, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIBS has higher volatility (22.26%) compared to AVLC (3.02%). In terms of maximum drawdown, HIBS dropped -99.98% vs AVLC's -19.64%.
On 1-year performance, AVLC leads with 32.71% vs -82.43% for HIBS. On fees, AVLC is cheaper at 0.15% per year. On volatility, AVLC has been the lower-risk option at 3.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AVLC has performed better with a 32.71% return vs -82.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AVLC is cheaper with a 0.15% expense ratio, compared with 1.06% for HIBS.
HIBS has the higher dividend yield at 11.69%, compared with 0.78% for AVLC.
HIBS is categorized as Inverse Equities, while AVLC is Large Cap Blend Equities. They also come from different issuers: Direxion and American Century. Their fees differ too: 1.06% for HIBS and 0.15% for AVLC.
AVLC currently has the higher Sharpe Ratio (2.65 vs -1.22), 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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