HIBS vs. SARK
HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) and SARK (Tradr Short Innovation Daily ETF) are both Inverse Equities funds. HIBS is passively managed, while SARK is actively managed. Over the past 3 years, HIBS returned -59.51%/yr vs -27.44%/yr for SARK. Their correlation of 0.81 means they have usually moved in the same direction. HIBS charges 1.06%/yr vs 0.75%/yr for SARK.
Performance
HIBS vs. SARK - Performance Comparison
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Returns By Period
In the year-to-date period, HIBS achieves a -57.25% return, which is significantly lower than SARK's -3.11% return.
HIBS
- 1D
- -7.41%
- 1M
- 5.19%
- 6M
- -50.01%
- YTD
- -57.25%
- 1Y
- -74.19%
- 3Y*
- -59.51%
- 5Y*
- -54.45%
- 10Y*
- —
- ALL TIME*
- -67.57%
SARK
- 1D
- -3.27%
- 1M
- 9.43%
- 6M
- -5.48%
- YTD
- -3.11%
- 1Y
- -13.90%
- 3Y*
- -27.44%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -11.77%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.00M | $5.46M | $4.96M | |
| $4.82M | $4.74M | $6.36M |
HIBS vs. SARK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | -57.25% | -72.44% | -26.60% | -62.94% | -7.59% | 6.86% |
SARK Tradr Short Innovation Daily ETF | -3.11% | -25.93% | -36.90% | -46.32% | 83.35% | 24.05% |
Correlation
The correlation between HIBS and SARK is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | 0.81 |
The correlation between HIBS and SARK has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.
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Return for Risk
HIBS vs. SARK — Risk / Return Rank
HIBS
SARK
HIBS vs. SARK - 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 Tradr Short Innovation Daily ETF (SARK). 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 | SARK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 0.96 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | -0.53 | -0.41 |
| Martin ratioReturn relative to average drawdown | -1.50 | -0.95 | -0.55 |
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Drawdowns
HIBS vs. SARK - Drawdown Comparison
The maximum HIBS drawdown since its inception was -99.98%, which is greater than SARK's maximum drawdown of -81.07%. Use the drawdown chart below to compare losses from any high point for HIBS and SARK.
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Drawdown Indicators
| HIBS | SARK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -81.07% | -18.91% |
Max Drawdown (1Y)Largest decline over 1 year | -78.96% | -26.34% | -52.62% |
Max Drawdown (3Y)Largest decline over 3 years | -96.91% | -74.42% | -22.49% |
Max Drawdown (5Y)Largest decline over 5 years | -98.61% | — | — |
Current DrawdownCurrent decline from peak | -99.98% | -78.61% | -21.37% |
Average DrawdownAverage peak-to-trough decline | -93.25% | -47.56% | -45.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.76% | 15.48% | +34.28% |
Volatility
HIBS vs. SARK - Volatility Comparison
Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) has a higher volatility of 29.66% compared to Tradr Short Innovation Daily ETF (SARK) at 11.15%. This indicates that HIBS's price experiences larger fluctuations and is considered to be riskier than SARK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIBS | SARK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.66% | 11.15% | +18.51% |
Volatility (6M)Calculated over the trailing 6-month period | 66.62% | 27.72% | +38.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 80.17% | 36.31% | +43.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 84.05% | 55.75% | +28.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.37% | 55.75% | +39.62% |
HIBS vs. SARK - Expense Ratio Comparison
HIBS has a 1.06% expense ratio, which is higher than SARK's 0.75% expense ratio.
Dividends
HIBS vs. SARK - Dividend Comparison
HIBS's dividend yield for the trailing twelve months is around 8.30%, more than SARK's 2.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | 8.30% | 8.42% | 5.34% | 6.49% | 0.04% | 0.00% | 0.92% | 0.13% |
SARK Tradr Short Innovation Daily ETF | 2.91% | 2.82% | 15.49% | 12.57% | 25.22% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HIBS and SARK have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIBS has higher volatility (29.66%) compared to SARK (11.15%). In terms of maximum drawdown, HIBS dropped -99.98% vs SARK's -81.07%.
On 3-year performance, SARK leads with -27.44% vs -59.51% for HIBS. On fees, SARK is cheaper at 0.75% per year. On volatility, SARK has been the lower-risk option at 11.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SARK has performed better with a -27.44% return vs -59.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SARK is cheaper with a 0.75% expense ratio, compared with 1.06% for HIBS.
HIBS has the higher dividend yield at 8.30%, compared with 2.91% for SARK.
They also come from different issuers: Direxion and AXS. Their fees differ too: 1.06% for HIBS and 0.75% for SARK.
SARK currently has the higher Sharpe Ratio (-0.39 vs -0.93), 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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