HIBS vs. HIBL
HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) and HIBL (Direxion Daily S&P 500 High Beta Bull 3X Shares) are both exchange-traded funds - HIBS is a Inverse Equities fund tracking the S&P 500® High Beta Index, while HIBL is a Leveraged Equities fund tracking the S&P 500 High Beta Index (300%). Both are passively managed. Over the past 5 years, HIBS returned -53.53%/yr vs 9.40%/yr for HIBL. Their -0.99 correlation means they have often moved in opposite directions in the past. HIBS charges 1.06%/yr vs 1.12%/yr for HIBL.
Performance
HIBS vs. HIBL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HIBS achieves a -53.83% return, which is significantly lower than HIBL's 40.96% return.
HIBS
- 1D
- 0.48%
- 1M
- 13.62%
- 6M
- -48.40%
- YTD
- -53.83%
- 1Y
- -72.12%
- 3Y*
- -56.71%
- 5Y*
- -53.53%
- 10Y*
- —
- ALL TIME*
- -67.24%
HIBL
- 1D
- 0.35%
- 1M
- -17.96%
- 6M
- 28.73%
- YTD
- 40.96%
- 1Y
- 102.38%
- 3Y*
- 30.75%
- 5Y*
- 9.40%
- 10Y*
- —
- ALL TIME*
- 15.61%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.52M | $6.17M | $6.51M | |
| $7.09M | $5.55M | $4.92M |
HIBS vs. HIBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | -53.83% | -72.44% | -26.60% | -62.94% | -7.59% | -75.27% | -91.59% | -17.80% |
HIBL Direxion Daily S&P 500 High Beta Bull 3X Shares | 40.96% | 60.38% | -0.40% | 81.02% | -68.24% | 129.14% | -24.96% | 19.23% |
Correlation
The correlation between HIBS and HIBL 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 HIBS and HIBL has been stable across timeframes, ranging from -1.00 to -0.99 - 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. HIBL — Risk / Return Rank
HIBS
HIBL
HIBS vs. HIBL - 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 Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL). 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 | HIBL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.03 | ||
| Sortino ratioReturn per unit of downside risk | -3.33 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.22 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 2.26 | -3.15 |
| Martin ratioReturn relative to average drawdown | -1.42 | 7.72 | -9.15 |
Loading charts...
Drawdowns
HIBS vs. HIBL - Drawdown Comparison
The maximum HIBS drawdown since its inception was -99.98%, which is greater than HIBL's maximum drawdown of -88.27%. Use the drawdown chart below to compare losses from any high point for HIBS and HIBL.
Loading charts...
Drawdown Indicators
| HIBS | HIBL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -88.27% | -11.71% |
Max Drawdown (1Y)Largest decline over 1 year | -79.06% | -40.14% | -38.92% |
Max Drawdown (3Y)Largest decline over 3 years | -96.91% | -69.66% | -27.25% |
Max Drawdown (5Y)Largest decline over 5 years | -98.61% | -81.58% | -17.03% |
Current DrawdownCurrent decline from peak | -99.98% | -32.46% | -67.52% |
Average DrawdownAverage peak-to-trough decline | -93.24% | -43.55% | -49.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.54% | 11.72% | +37.82% |
Volatility
HIBS vs. HIBL - Volatility Comparison
Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) and Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL) have volatilities of 29.61% and 28.93%, 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.
Loading charts...
Volatility by Period
| HIBS | HIBL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.61% | 28.93% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 66.67% | 65.61% | +1.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 80.06% | 78.96% | +1.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.97% | 83.72% | +0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.36% | 92.54% | +2.82% |
HIBS vs. HIBL - Expense Ratio Comparison
HIBS has a 1.06% expense ratio, which is lower than HIBL's 1.12% expense ratio.
Dividends
HIBS vs. HIBL - Dividend Comparison
HIBS's dividend yield for the trailing twelve months is around 7.69%, more than HIBL's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HIBL Direxion Daily S&P 500 High Beta Bull 3X Shares | 1.61% | 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 | 7.69% | 8.42% | 5.34% | 6.49% | 0.04% | 0.00% | 0.92% | 0.13% |
Frequently Asked Questions
HIBS and HIBL 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 (29.61%) compared to HIBL (28.93%). In terms of maximum drawdown, HIBS dropped -99.98% vs HIBL's -88.27%.
On 5-year performance, HIBL leads with 9.40% vs -53.53% for HIBS. On fees, HIBS is cheaper at 1.06% per year. On volatility, HIBL has been the lower-risk option at 28.93%. 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 9.40% return vs -53.53%. 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 7.69%, compared with 1.61% for HIBL.
HIBS is categorized as Inverse Equities, while HIBL is Leveraged Equities. HIBS tracks S&P 500® High Beta Index, while HIBL tracks S&P 500 High Beta Index (300%). Their fees differ too: 1.06% for HIBS and 1.12% for HIBL.
HIBL currently has the higher Sharpe Ratio (1.15 vs -0.88), 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 HIBL
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