HIBS vs. LABD
HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) and LABD (Direxion Daily S&P Biotech Bear 3x Shares) are both exchange-traded funds - HIBS is a Inverse Equities fund tracking the S&P 500® High Beta Index, while LABD is a Leveraged Equities fund tracking the S&P Biotechnology Select Industry Index (-300%). Both are passively managed. Over the past 5 years, HIBS returned -54.42%/yr vs -43.25%/yr for LABD. A 0.55 correlation means they provide meaningful diversification when combined. Both charge a 1.06% expense ratio.
Performance
HIBS vs. LABD - Performance Comparison
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Returns By Period
In the year-to-date period, HIBS achieves a -61.28% return, which is significantly lower than LABD's -53.78% return.
HIBS
- 1D
- 11.66%
- 1M
- -22.55%
- YTD
- -61.28%
- 6M
- -58.56%
- 1Y
- -81.56%
- 3Y*
- -62.72%
- 5Y*
- -54.42%
- 10Y*
- —
LABD
- 1D
- -3.10%
- 1M
- -32.29%
- YTD
- -53.78%
- 6M
- -50.39%
- 1Y
- -87.04%
- 3Y*
- -56.99%
- 5Y*
- -43.25%
- 10Y*
- -59.09%
HIBS vs. LABD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | -61.28% | -72.44% | -26.60% | -62.94% | -7.59% | -75.27% | -91.59% | -17.80% |
LABD Direxion Daily S&P Biotech Bear 3x Shares | -53.78% | -70.07% | -21.43% | -41.77% | -32.68% | 1.86% | -89.75% | -38.73% |
Correlation
The correlation between HIBS and LABD is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019 | 0.55 |
The correlation between HIBS and LABD shifts across timeframes, from 0.49 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HIBS vs. LABD — Risk / Return Rank
HIBS
LABD
HIBS vs. LABD - 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 Biotech Bear 3x Shares (LABD). 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 | LABD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 0.73 | 0.70 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | -1.00 | +0.01 |
| Martin ratioReturn relative to average drawdown | -1.62 | -1.37 | -0.25 |
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Drawdowns
HIBS vs. LABD - Drawdown Comparison
The maximum HIBS drawdown since its inception was -99.98%, roughly equal to the maximum LABD drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for HIBS and LABD.
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Drawdown Indicators
| HIBS | LABD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -99.99% | +0.01% |
Max Drawdown (1Y)Largest decline over 1 year | -82.33% | -86.75% | +4.42% |
Max Drawdown (3Y)Largest decline over 3 years | -96.91% | -96.40% | -0.51% |
Max Drawdown (5Y)Largest decline over 5 years | -98.70% | -98.65% | -0.05% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.99% | — |
Current DrawdownCurrent decline from peak | -99.98% | -99.99% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -93.13% | -90.99% | -2.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 53.14% | 64.00% | -10.86% |
Volatility
HIBS vs. LABD - Volatility Comparison
Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) has a higher volatility of 35.05% compared to Direxion Daily S&P Biotech Bear 3x Shares (LABD) at 29.98%. This indicates that HIBS's price experiences larger fluctuations and is considered to be riskier than LABD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIBS | LABD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 35.05% | 29.98% | +5.07% |
Volatility (6M)Calculated over the trailing 6-month period | 60.54% | 65.23% | -4.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 74.07% | 78.79% | -4.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.51% | 96.66% | -13.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.27% | 95.97% | -0.70% |
HIBS vs. LABD - Expense Ratio Comparison
Both HIBS and LABD have an expense ratio of 1.06%.
Dividends
HIBS vs. LABD - Dividend Comparison
HIBS's dividend yield for the trailing twelve months is around 12.23%, more than LABD's 9.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | 12.23% | 8.42% | 5.34% | 6.49% | 0.04% | 0.00% | 0.92% | 0.13% | 0.00% |
LABD Direxion Daily S&P Biotech Bear 3x Shares | 9.79% | 6.67% | 4.68% | 6.13% | 0.53% | 0.00% | 3.94% | 1.75% | 0.81% |
Frequently Asked Questions
HIBS and LABD have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIBS has higher volatility (35.05%) compared to LABD (29.98%). In terms of maximum drawdown, HIBS dropped -99.98% vs LABD's -99.99%.
On 5-year performance, LABD leads with -43.25% vs -54.42% for HIBS. Both ETFs have the same 1.06% expense ratio. On volatility, LABD has been the lower-risk option at 29.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, LABD has performed better with a -43.25% return vs -54.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HIBS and LABD have the same expense ratio: 1.06% per year.
HIBS has the higher dividend yield at 12.23%, compared with 9.79% for LABD.
HIBS is categorized as Inverse Equities, while LABD is Leveraged Equities. HIBS tracks S&P 500® High Beta Index, while LABD tracks S&P Biotechnology Select Industry Index (-300%).
HIBS currently has the higher Sharpe Ratio (-1.10 vs -1.11), 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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