HIBS vs. DOG
HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) and DOG (ProShares Short Dow30) are both Inverse Equities funds - HIBS tracks the S&P 500® High Beta Index while DOG tracks the DJ Industrial Average (-100%). Both are passively managed. Over the past 5 years, HIBS returned -55.09%/yr vs -5.86%/yr for DOG. A 0.78 correlation means they provide meaningful diversification when combined. HIBS charges 1.06%/yr vs 0.95%/yr for DOG.
Performance
HIBS vs. DOG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HIBS achieves a -55.49% return, which is significantly lower than DOG's -6.92% return.
HIBS
- 1D
- 8.09%
- 1M
- 15.31%
- 6M
- -47.46%
- YTD
- -55.49%
- 1Y
- -73.19%
- 3Y*
- -57.50%
- 5Y*
- -55.09%
- 10Y*
- —
DOG
- 1D
- 0.28%
- 1M
- -0.50%
- 6M
- -4.40%
- YTD
- -6.92%
- 1Y
- -12.40%
- 3Y*
- -8.71%
- 5Y*
- -5.86%
- 10Y*
- -11.03%
HIBS vs. DOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | -55.49% | -72.44% | -26.60% | -62.94% | -7.59% | -75.27% | -91.59% | -17.80% |
DOG ProShares Short Dow30 | -6.92% | -8.40% | -5.62% | -7.05% | 5.67% | -19.21% | -20.45% | -3.80% |
Correlation
The correlation between HIBS and DOG is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019 | 0.78 |
The correlation between HIBS and DOG has been stable across timeframes, ranging from 0.70 to 0.78 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HIBS vs. DOG — Risk / Return Rank
HIBS
DOG
HIBS vs. DOG - 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 ProShares Short Dow30 (DOG). 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.
| HIBS | DOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 0.84 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | -0.83 | -0.10 |
| Martin ratioReturn relative to average drawdown | -1.55 | -1.53 | -0.02 |
Loading charts...
Drawdowns
HIBS vs. DOG - Drawdown Comparison
The maximum HIBS drawdown since its inception was -99.98%, which is greater than DOG's maximum drawdown of -92.90%. Use the drawdown chart below to compare losses from any high point for HIBS and DOG.
Loading charts...
Drawdown Indicators
| HIBS | DOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -92.90% | -7.08% |
Max Drawdown (1Y)Largest decline over 1 year | -79.06% | -15.02% | -64.04% |
Max Drawdown (3Y)Largest decline over 3 years | -96.91% | -30.86% | -66.05% |
Max Drawdown (5Y)Largest decline over 5 years | -98.70% | -35.93% | -62.77% |
Max Drawdown (10Y)Largest decline over 10 years | — | -70.07% | — |
Current DrawdownCurrent decline from peak | -99.98% | -92.82% | -7.16% |
Average DrawdownAverage peak-to-trough decline | -93.20% | -66.53% | -26.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.30% | 8.14% | +39.16% |
Volatility
HIBS vs. DOG - Volatility Comparison
Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) has a higher volatility of 29.60% compared to ProShares Short Dow30 (DOG) at 2.38%. This indicates that HIBS's price experiences larger fluctuations and is considered to be riskier than DOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HIBS | DOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.60% | 2.38% | +27.22% |
Volatility (6M)Calculated over the trailing 6-month period | 64.22% | 9.74% | +54.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 77.53% | 12.29% | +65.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.90% | 14.82% | +69.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.33% | 17.46% | +77.87% |
HIBS vs. DOG - Expense Ratio Comparison
HIBS has a 1.06% expense ratio, which is higher than DOG's 0.95% expense ratio.
Dividends
HIBS vs. DOG - Dividend Comparison
HIBS's dividend yield for the trailing twelve months is around 7.97%, more than DOG's 3.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DOG ProShares Short Dow30 | 3.39% | 3.65% | 5.72% | 4.54% | 0.41% | 0.00% | 0.14% | 1.54% | 0.86% | 0.04% |
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | 7.97% | 8.42% | 5.34% | 6.49% | 0.04% | 0.00% | 0.92% | 0.13% | 0.00% | 0.00% |
Frequently Asked Questions
HIBS and DOG have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIBS has higher volatility (29.60%) compared to DOG (2.38%). In terms of maximum drawdown, HIBS dropped -99.98% vs DOG's -92.90%.
On 5-year performance, DOG leads with -5.86% vs -55.09% for HIBS. On fees, DOG is cheaper at 0.95% per year. On volatility, DOG has been the lower-risk option at 2.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DOG has performed better with a -5.86% return vs -55.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DOG is cheaper with a 0.95% expense ratio, compared with 1.06% for HIBS.
HIBS has the higher dividend yield at 7.97%, compared with 3.39% for DOG.
HIBS tracks S&P 500® High Beta Index, while DOG tracks DJ Industrial Average (-100%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.06% for HIBS and 0.95% for DOG.
HIBS currently has the higher Sharpe Ratio (-0.95 vs -1.01), 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.
Find the right allocation for HIBS and DOG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer