HIBS vs. CARD
HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) and CARD (Max Auto Industry -3X Inverse Leveraged ETN) are both Inverse Equities funds - HIBS tracks the S&P 500® High Beta Index while CARD tracks the Prime Auto Industry Index - Benchmark TR Net (--300%). Both are passively managed. Over the past year, HIBS returned -82.21% vs -37.29% for CARD. A 0.72 correlation means they provide meaningful diversification when combined. HIBS charges 1.06%/yr vs 0.95%/yr for CARD.
Performance
HIBS vs. CARD - Performance Comparison
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Returns By Period
In the year-to-date period, HIBS achieves a -59.26% return, which is significantly lower than CARD's -3.37% return.
HIBS
- 1D
- 0.59%
- 1M
- -26.80%
- YTD
- -59.26%
- 6M
- -59.84%
- 1Y
- -82.21%
- 3Y*
- -63.10%
- 5Y*
- -53.41%
- 10Y*
- —
CARD
- 1D
- -0.79%
- 1M
- -13.02%
- YTD
- -3.37%
- 6M
- -0.02%
- 1Y
- -37.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HIBS vs. CARD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | -59.26% | -72.44% | -26.60% | -27.85% |
CARD Max Auto Industry -3X Inverse Leveraged ETN | -3.37% | -60.21% | -58.19% | -30.38% |
Correlation
The correlation between HIBS and CARD is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2023 | 0.72 |
The correlation between HIBS and CARD has been stable across timeframes, ranging from 0.69 to 0.72 - a consistent structural relationship.
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Return for Risk
HIBS vs. CARD — Risk / Return Rank
HIBS
CARD
HIBS vs. CARD - 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 Max Auto Industry -3X Inverse Leveraged ETN (CARD). 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 | CARD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -2.43 | ||
| Omega ratioGain probability vs. loss probability | 0.70 | 0.95 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | -0.75 | -0.24 |
| Martin ratioReturn relative to average drawdown | -1.50 | -1.10 | -0.41 |
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 | CARD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.22 | -0.55 | -0.67 |
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 | -0.66 | -0.07 |
Drawdowns
HIBS vs. CARD - Drawdown Comparison
The maximum HIBS drawdown since its inception was -99.98%, which is greater than CARD's maximum drawdown of -93.51%. Use the drawdown chart below to compare losses from any high point for HIBS and CARD.
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Drawdown Indicators
| HIBS | CARD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -93.51% | -6.47% |
Max Drawdown (1Y)Largest decline over 1 year | -83.13% | -49.57% | -33.56% |
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% | -92.74% | -7.24% |
Average DrawdownAverage peak-to-trough decline | -93.14% | -68.17% | -24.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 54.63% | 34.04% | +20.59% |
Volatility
HIBS vs. CARD - Volatility Comparison
Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) and Max Auto Industry -3X Inverse Leveraged ETN (CARD) have volatilities of 22.04% and 22.78%, 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
| HIBS | CARD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.04% | 22.78% | -0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 52.82% | 49.82% | +3.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.45% | 68.57% | -1.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.46% | 80.47% | +1.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 94.78% | 80.47% | +14.31% |
HIBS vs. CARD - Expense Ratio Comparison
HIBS has a 1.06% expense ratio, which is higher than CARD's 0.95% expense ratio.
Dividends
HIBS vs. CARD - Dividend Comparison
HIBS's dividend yield for the trailing twelve months is around 11.62%, while CARD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CARD Max Auto Industry -3X Inverse Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | 11.62% | 8.42% | 5.34% | 6.49% | 0.04% | 0.00% | 0.92% | 0.13% |
Frequently Asked Questions
HIBS and CARD have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CARD has higher volatility (22.78%) compared to HIBS (22.04%). In terms of maximum drawdown, HIBS dropped -99.98% vs CARD's -93.51%.
On 1-year performance, CARD leads with -37.29% vs -82.21% for HIBS. On fees, CARD is cheaper at 0.95% per year. On volatility, HIBS has been the lower-risk option at 22.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CARD has performed better with a -37.29% return vs -82.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CARD is cheaper with a 0.95% expense ratio, compared with 1.06% for HIBS.
HIBS has the higher dividend yield at 11.62%, compared with 0.00% for CARD.
HIBS tracks S&P 500® High Beta Index, while CARD tracks Prime Auto Industry Index - Benchmark TR Net (--300%). They also come from different issuers: Direxion and Max. Their fees differ too: 1.06% for HIBS and 0.95% for CARD.
CARD currently has the higher Sharpe Ratio (-0.55 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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