HIBS vs. RSPT
HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) and RSPT (Invesco S&P 500 Equal Weight Technology ETF) are both exchange-traded funds - HIBS is a Inverse Equities fund tracking the S&P 500® High Beta Index, while RSPT is a Technology Equities fund tracking the S&P 500® Information Technology Index. Both are passively managed. Over the past 5 years, HIBS returned -54.74%/yr vs 17.13%/yr for RSPT. At a correlation of -0.86, they often move in opposite directions. HIBS charges 1.06%/yr vs 0.40%/yr for RSPT.
Performance
HIBS vs. RSPT - 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 RSPT's 38.23% return.
HIBS
- 1D
- 0.26%
- 1M
- -5.73%
- 6M
- -54.41%
- YTD
- -61.10%
- 1Y
- -76.15%
- 3Y*
- -60.13%
- 5Y*
- -54.74%
- 10Y*
- —
RSPT
- 1D
- -0.36%
- 1M
- 0.16%
- 6M
- 33.50%
- YTD
- 38.23%
- 1Y
- 53.97%
- 3Y*
- 29.16%
- 5Y*
- 17.13%
- 10Y*
- 21.39%
HIBS vs. RSPT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | -61.10% | -72.44% | -26.60% | -62.94% | -7.59% | -75.27% | -91.59% | -17.80% |
RSPT Invesco S&P 500 Equal Weight Technology ETF | 38.23% | 22.15% | 15.16% | 35.18% | -24.50% | 28.53% | 30.21% | 6.01% |
Correlation
The correlation between HIBS and RSPT 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 (3Y) Calculated over the trailing 3-year period | -0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.93 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019 | -0.86 |
The correlation between HIBS and RSPT has been stable across timeframes, ranging from -0.93 to -0.86 - a consistent structural relationship.
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Return for Risk
HIBS vs. RSPT — Risk / Return Rank
HIBS
RSPT
HIBS vs. RSPT - 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 Invesco S&P 500 Equal Weight Technology ETF (RSPT). 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 | RSPT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.14 | ||
| Sortino ratioReturn per unit of downside risk | -4.71 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 1.34 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 4.59 | -5.54 |
| Martin ratioReturn relative to average drawdown | -1.62 | 14.11 | -15.73 |
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Drawdowns
HIBS vs. RSPT - Drawdown Comparison
The maximum HIBS drawdown since its inception was -99.98%, which is greater than RSPT's maximum drawdown of -58.91%. Use the drawdown chart below to compare losses from any high point for HIBS and RSPT.
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Drawdown Indicators
| HIBS | RSPT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -58.91% | -41.07% |
Max Drawdown (1Y)Largest decline over 1 year | -79.30% | -11.47% | -67.83% |
Max Drawdown (3Y)Largest decline over 3 years | -96.91% | -26.62% | -70.29% |
Max Drawdown (5Y)Largest decline over 5 years | -98.70% | -32.49% | -66.21% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.67% | — |
Current DrawdownCurrent decline from peak | -99.98% | -6.87% | -93.11% |
Average DrawdownAverage peak-to-trough decline | -93.18% | -8.89% | -84.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 46.74% | 3.72% | +43.02% |
Volatility
HIBS vs. RSPT - Volatility Comparison
Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) has a higher volatility of 35.28% compared to Invesco S&P 500 Equal Weight Technology ETF (RSPT) at 10.13%. This indicates that HIBS's price experiences larger fluctuations and is considered to be riskier than RSPT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIBS | RSPT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 35.28% | 10.13% | +25.15% |
Volatility (6M)Calculated over the trailing 6-month period | 63.11% | 20.45% | +42.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 76.67% | 24.43% | +52.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.83% | 24.66% | +59.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.32% | 23.95% | +71.37% |
HIBS vs. RSPT - Expense Ratio Comparison
HIBS has a 1.06% expense ratio, which is higher than RSPT's 0.40% expense ratio.
Dividends
HIBS vs. RSPT - Dividend Comparison
HIBS's dividend yield for the trailing twelve months is around 9.12%, more than RSPT's 0.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% | 0.00% |
RSPT Invesco S&P 500 Equal Weight Technology ETF | 0.26% | 0.39% | 0.44% | 0.56% | 0.71% | 0.50% | 1.29% | 0.92% | 0.98% | 0.84% | 1.16% | 1.18% |
Frequently Asked Questions
HIBS and RSPT 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.
HIBS has higher volatility (35.28%) compared to RSPT (10.13%). In terms of maximum drawdown, HIBS dropped -99.98% vs RSPT's -58.91%.
On 5-year performance, RSPT leads with 17.13% vs -54.74% for HIBS. On fees, RSPT is cheaper at 0.40% per year. On volatility, RSPT has been the lower-risk option at 10.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, RSPT has performed better with a 17.13% return vs -54.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RSPT is cheaper with a 0.40% expense ratio, compared with 1.06% for HIBS.
HIBS has the higher dividend yield at 9.12%, compared with 0.26% for RSPT.
HIBS is categorized as Inverse Equities, while RSPT is Technology Equities. HIBS tracks S&P 500® High Beta Index, while RSPT tracks S&P 500® Information Technology Index. They also come from different issuers: Direxion and Invesco. Their fees differ too: 1.06% for HIBS and 0.40% for RSPT.
RSPT currently has the higher Sharpe Ratio (2.15 vs -0.99), 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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