HIBS vs. DUKQ

Last updated Jul 18, 2026

HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) and DUKQ (Ocean Park Domestic ETF) are both exchange-traded funds - HIBS is a Inverse Equities fund tracking the S&P 500® High Beta Index, while DUKQ is a Large Cap Blend Equities fund actively managed by Ocean Park. HIBS is passively managed, while DUKQ is actively managed. Over the past year, HIBS returned -71.13% vs 18.69% for DUKQ. At a correlation of -0.89, they often move in opposite directions. HIBS charges 1.06%/yr vs 0.98%/yr for DUKQ.

Performance

HIBS vs. DUKQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) and Ocean Park Domestic ETF (DUKQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HIBS achieves a -53.75% return, which is significantly lower than DUKQ's 11.25% return.

HIBS

• 1D: 3.90%
• 1M: 17.68%
• 6M: -46.29%
• YTD: -53.75%
• 1Y: -71.13%
• 3Y*: -56.50%
• 5Y*: -54.75%
• 10Y*: —

DUKQ

• 1D: -0.90%
• 1M: -0.35%
• 6M: 8.35%
• YTD: 11.25%
• 1Y: 18.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HIBS vs. DUKQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares	-53.75%	-72.44%	-13.52%
DUKQ Ocean Park Domestic ETF	11.25%	5.69%	4.80%

Correlation

The correlation between HIBS and DUKQ is -0.92, 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	-0.92
Correlation (All Time) Calculated using the full available price history since Jul 11, 2024	-0.89

The correlation between HIBS and DUKQ has been stable across timeframes, ranging from -0.92 to -0.89 - a consistent structural relationship.

Return for Risk

HIBS vs. DUKQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HIBS

HIBS Risk / Return Rank: 1
HIBS Sharpe Ratio Rank: 2
HIBS Sortino Ratio Rank: 1
HIBS Omega Ratio Rank: 2
HIBS Calmar Ratio Rank: 1
HIBS Martin Ratio Rank: 1

DUKQ

DUKQ Risk / Return Rank: 59
DUKQ Sharpe Ratio Rank: 55
DUKQ Sortino Ratio Rank: 53
DUKQ Omega Ratio Rank: 52
DUKQ Calmar Ratio Rank: 64
DUKQ Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HIBS vs. DUKQ - 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 Ocean Park Domestic ETF (DUKQ). 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	DUKQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.92	1.41	-2.33
Sortino ratio: Return per unit of downside risk	-1.70	2.00	-3.69
Omega ratio: Gain probability vs. loss probability	0.82	1.25	-0.43
Calmar ratio: Return relative to maximum drawdown	-0.90	2.39	-3.30
Martin ratio: Return relative to average drawdown	-1.50	9.65	-11.15

HIBS vs. DUKQ - Sharpe Ratio Comparison

The current HIBS Sharpe Ratio is -0.92, which is lower than the DUKQ Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of HIBS and DUKQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HIBS vs. DUKQ - Drawdown Comparison

The maximum HIBS drawdown since its inception was -99.98%, which is greater than DUKQ's maximum drawdown of -18.44%. Use the drawdown chart below to compare losses from any high point for HIBS and DUKQ.

Drawdown Indicators

	HIBS	DUKQ	Difference
Max Drawdown Largest peak-to-trough decline	-99.98%	-18.44%	-81.54%
Max Drawdown (1Y) Largest decline over 1 year	-79.06%	-7.84%	-71.22%
Max Drawdown (3Y) Largest decline over 3 years	-96.91%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-98.70%	—	—
Current Drawdown Current decline from peak	-99.98%	-2.62%	-97.36%
Average Drawdown Average peak-to-trough decline	-93.20%	-3.75%	-89.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.41%	1.94%	+45.47%

Volatility

HIBS vs. DUKQ - Volatility Comparison

Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) has a higher volatility of 29.53% compared to Ocean Park Domestic ETF (DUKQ) at 3.84%. This indicates that HIBS's price experiences larger fluctuations and is considered to be riskier than DUKQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIBS	DUKQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.53%	3.84%	+25.69%
Volatility (6M) Calculated over the trailing 6-month period	64.33%	10.54%	+53.79%
Volatility (1Y) Calculated over the trailing 1-year period	77.64%	13.31%	+64.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.89%	14.91%	+68.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.31%	14.91%	+80.40%

HIBS vs. DUKQ - Expense Ratio Comparison

HIBS has a 1.06% expense ratio, which is higher than DUKQ's 0.98% expense ratio.

Dividends

HIBS vs. DUKQ - Dividend Comparison

HIBS's dividend yield for the trailing twelve months is around 7.67%, more than DUKQ's 0.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
DUKQ Ocean Park Domestic ETF	0.32%	0.68%	0.28%	0.00%	0.00%	0.00%	0.00%	0.00%
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares	7.67%	8.42%	5.34%	6.49%	0.04%	0.00%	0.92%	0.13%

Frequently Asked Questions

Can I hold both HIBS and DUKQ in my portfolio?

HIBS and DUKQ have a correlation of -0.92, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HIBS or DUKQ?

HIBS has higher volatility (29.53%) compared to DUKQ (3.84%). In terms of maximum drawdown, HIBS dropped -99.98% vs DUKQ's -18.44%.

Which ETF is better, HIBS or DUKQ?

On 1-year performance, DUKQ leads with 18.69% vs -71.13% for HIBS. On fees, DUKQ is cheaper at 0.98% per year. On volatility, DUKQ has been the lower-risk option at 3.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HIBS or DUKQ?

Over the 1-year period, DUKQ has performed better with a 18.69% return vs -71.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HIBS or DUKQ?

DUKQ is cheaper with a 0.98% expense ratio, compared with 1.06% for HIBS.

Which ETF pays a higher dividend yield, HIBS or DUKQ?

HIBS has the higher dividend yield at 7.67%, compared with 0.32% for DUKQ.

What is the main difference between HIBS and DUKQ?

HIBS is categorized as Inverse Equities, while DUKQ is Large Cap Blend Equities. They also come from different issuers: Direxion and Ocean Park. Their fees differ too: 1.06% for HIBS and 0.98% for DUKQ.

Which has better risk-adjusted returns?

DUKQ currently has the higher Sharpe Ratio (1.41 vs -0.92), 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.