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 -53.79%/yr vs -40.90%/yr for LABD. A 0.56 correlation means they provide meaningful diversification when combined. Both charge a 1.06% expense ratio.
Performance
HIBS vs. LABD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HIBS achieves a -60.48% return, which is significantly lower than LABD's -26.35% return.
HIBS
- 1D
- -5.60%
- 1M
- -32.77%
- YTD
- -60.48%
- 6M
- -63.58%
- 1Y
- -83.87%
- 3Y*
- -63.29%
- 5Y*
- -53.79%
- 10Y*
- —
LABD
- 1D
- 13.36%
- 1M
- 2.25%
- YTD
- -26.35%
- 6M
- -33.91%
- 1Y
- -80.10%
- 3Y*
- -49.03%
- 5Y*
- -40.90%
- 10Y*
- -55.90%
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 | -60.48% | -72.44% | -26.60% | -62.94% | -7.59% | -75.27% | -91.59% | -19.45% |
LABD Direxion Daily S&P Biotech Bear 3x Shares | -26.35% | -70.07% | -21.43% | -41.77% | -32.68% | 1.86% | -89.75% | -38.21% |
Correlation
The correlation between HIBS and LABD is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019 | 0.56 |
The correlation between HIBS and LABD shifts across timeframes, from 0.51 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.
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. 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.
| HIBS | LABD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.24 | -1.06 | -0.18 |
Sortino ratioReturn per unit of downside risk | -3.08 | -2.21 | -0.87 |
Omega ratioGain probability vs. loss probability | 0.68 | 0.75 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | -1.01 | -0.98 | -0.03 |
Martin ratioReturn relative to average drawdown | -1.51 | -1.32 | -0.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| HIBS | LABD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.24 | -1.06 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.65 | -0.43 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.58 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.73 | -0.54 | -0.19 |
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.
Loading charts...
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 | -83.13% | -83.21% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -96.48% | -95.31% | -1.17% |
Max Drawdown (5Y)Largest decline over 5 years | -98.52% | -98.24% | -0.28% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.98% | — |
Current DrawdownCurrent decline from peak | -99.98% | -99.99% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -93.13% | -90.92% | -2.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 55.90% | 62.04% | -6.14% |
Volatility
HIBS vs. LABD - Volatility Comparison
The current volatility for Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) is 21.89%, while Direxion Daily S&P Biotech Bear 3x Shares (LABD) has a volatility of 28.02%. This indicates that HIBS experiences smaller price fluctuations and is considered to be less risky than LABD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HIBS | LABD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.89% | 28.02% | -6.13% |
Volatility (6M)Calculated over the trailing 6-month period | 52.77% | 61.98% | -9.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.61% | 76.01% | -8.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.47% | 96.24% | -13.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 94.83% | 95.94% | -1.11% |
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 11.98%, more than LABD's 6.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | 11.98% | 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 | 6.14% | 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 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LABD has higher volatility (28.02%) compared to HIBS (21.89%). In terms of maximum drawdown, HIBS dropped -99.98% vs LABD's -99.99%.
On 5-year performance, LABD leads with -40.90% vs -53.79% for HIBS. Both ETFs have the same 1.06% expense ratio. On volatility, HIBS has been the lower-risk option at 21.89%. 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 -40.90% return vs -53.79%. 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 11.98%, compared with 6.14% 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%).
LABD currently has the higher Sharpe Ratio (-1.06 vs -1.24), 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 LABD
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