HIBS vs. ORCS
HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) and ORCS (Direxion Daily ORCL Bear 1X ETF) are both Inverse Equities funds from Direxion. HIBS is passively managed, while ORCS is actively managed. At a 0.46 correlation, their price movements are largely independent. HIBS charges 1.06%/yr vs 0.97%/yr for ORCS.
Performance
HIBS vs. ORCS - Performance Comparison
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Returns By Period
In the year-to-date period, HIBS achieves a -61.10% return, which is significantly lower than ORCS's 18.11% return.
HIBS
- 1D
- 0.26%
- 1M
- -5.73%
- 6M
- -54.41%
- YTD
- -61.10%
- 1Y
- -76.15%
- 3Y*
- -60.13%
- 5Y*
- -54.74%
- 10Y*
- —
ORCS
- 1D
- 2.16%
- 1M
- 28.94%
- 6M
- 20.88%
- YTD
- 18.11%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HIBS vs. ORCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | -61.10% | -24.06% |
ORCS Direxion Daily ORCL Bear 1X ETF | 18.11% | 11.07% |
Correlation
The correlation between HIBS and ORCS is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025 | 0.46 |
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Return for Risk
HIBS vs. ORCS — Risk / Return Rank
HIBS
ORCS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HIBS vs. ORCS - 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 ORCL Bear 1X ETF (ORCS). 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 | ORCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.79 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | — | — |
| Martin ratioReturn relative to average drawdown | -1.62 | — | — |
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Drawdowns
HIBS vs. ORCS - Drawdown Comparison
The maximum HIBS drawdown since its inception was -99.98%, which is greater than ORCS's maximum drawdown of -50.25%. Use the drawdown chart below to compare losses from any high point for HIBS and ORCS.
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Drawdown Indicators
| HIBS | ORCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -50.25% | -49.73% |
Max Drawdown (1Y)Largest decline over 1 year | -79.30% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -96.91% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -98.70% | — | — |
Current DrawdownCurrent decline from peak | -99.98% | -15.50% | -84.48% |
Average DrawdownAverage peak-to-trough decline | -93.18% | -16.45% | -76.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 46.74% | — | — |
Volatility
HIBS vs. ORCS - Volatility Comparison
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Volatility by Period
| HIBS | ORCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 35.28% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 63.11% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 76.67% | 59.53% | +17.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.83% | 59.53% | +24.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.32% | 59.53% | +35.79% |
HIBS vs. ORCS - Expense Ratio Comparison
HIBS has a 1.06% expense ratio, which is higher than ORCS's 0.97% expense ratio.
Dividends
HIBS vs. ORCS - Dividend Comparison
HIBS's dividend yield for the trailing twelve months is around 9.12%, more than ORCS's 1.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | 9.12% | 8.42% | 5.34% | 6.49% | 0.04% | 0.00% | 0.92% | 0.13% |
ORCS Direxion Daily ORCL Bear 1X ETF | 1.21% | 0.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HIBS and ORCS have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ORCS is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ORCS is cheaper with a 0.97% expense ratio, compared with 1.06% for HIBS.
HIBS has the higher dividend yield at 9.12%, compared with 1.21% for ORCS.
Their fees differ too: 1.06% for HIBS and 0.97% for ORCS.
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