HIBS vs. SOXL
HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both exchange-traded funds - HIBS is a Inverse Equities fund tracking the S&P 500® High Beta Index, while SOXL is a Leveraged Equities fund tracking the ICE Semiconductor Index. Both are passively managed. Over the past 5 years, HIBS returned -51.83%/yr vs 36.47%/yr for SOXL. At a correlation of -0.77, they often move in opposite directions. HIBS charges 1.06%/yr vs 0.75%/yr for SOXL.
Performance
HIBS vs. SOXL - Performance Comparison
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Returns By Period
In the year-to-date period, HIBS achieves a -51.89% return, which is significantly lower than SOXL's 334.31% return.
HIBS
- 1D
- 18.08%
- 1M
- -7.51%
- YTD
- -51.89%
- 6M
- -51.65%
- 1Y
- -79.46%
- 3Y*
- -60.33%
- 5Y*
- -51.83%
- 10Y*
- —
SOXL
- 1D
- -30.51%
- 1M
- 10.06%
- YTD
- 334.31%
- 6M
- 292.56%
- 1Y
- 873.79%
- 3Y*
- 104.66%
- 5Y*
- 36.47%
- 10Y*
- 58.09%
HIBS vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | -51.89% | -72.44% | -26.60% | -62.94% | -7.59% | -75.27% | -91.59% | -19.45% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 334.31% | 54.91% | -12.31% | 226.98% | -85.66% | 118.84% | 70.04% | 21.53% |
Correlation
The correlation between HIBS and SOXL is -0.83, 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 | -0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.85 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019 | -0.77 |
The correlation between HIBS and SOXL has been stable across timeframes, ranging from -0.85 to -0.77 - a consistent structural relationship.
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Return for Risk
HIBS vs. SOXL — Risk / Return Rank
HIBS
SOXL
HIBS vs. SOXL - 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 Semiconductor Bull 3X ETF (SOXL). 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 | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.39 | ||
| Sortino ratioReturn per unit of downside risk | -6.68 | ||
| Omega ratioGain probability vs. loss probability | 0.73 | 1.59 | -0.86 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 20.30 | -21.27 |
| Martin ratioReturn relative to average drawdown | -1.48 | 68.57 | -70.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HIBS | SOXL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.14 | 8.26 | -9.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.63 | 0.34 | -0.97 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.72 | 0.47 | -1.19 |
Drawdowns
HIBS vs. SOXL - Drawdown Comparison
The maximum HIBS drawdown since its inception was -99.98%, which is greater than SOXL's maximum drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for HIBS and SOXL.
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Drawdown Indicators
| HIBS | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -90.46% | -9.52% |
Max Drawdown (1Y)Largest decline over 1 year | -82.61% | -43.47% | -39.14% |
Max Drawdown (3Y)Largest decline over 3 years | -96.48% | -87.88% | -8.60% |
Max Drawdown (5Y)Largest decline over 5 years | -98.52% | -90.46% | -8.06% |
Max Drawdown (10Y)Largest decline over 10 years | — | -90.46% | — |
Current DrawdownCurrent decline from peak | -99.98% | -34.93% | -65.05% |
Average DrawdownAverage peak-to-trough decline | -93.14% | -35.01% | -58.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 54.86% | 12.85% | +42.01% |
Volatility
HIBS vs. SOXL - Volatility Comparison
The current volatility for Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) is 27.81%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 55.19%. This indicates that HIBS experiences smaller price fluctuations and is considered to be less risky than SOXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIBS | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.81% | 55.19% | -27.38% |
Volatility (6M)Calculated over the trailing 6-month period | 55.37% | 89.77% | -34.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.99% | 106.94% | -36.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.83% | 108.10% | -25.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.03% | 99.53% | -4.50% |
HIBS vs. SOXL - Expense Ratio Comparison
HIBS has a 1.06% expense ratio, which is higher than SOXL's 0.75% expense ratio.
Dividends
HIBS vs. SOXL - Dividend Comparison
HIBS's dividend yield for the trailing twelve months is around 9.84%, more than SOXL's 0.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | 9.84% | 8.42% | 5.34% | 6.49% | 0.04% | 0.00% | 0.92% | 0.13% | 0.00% | 0.00% | 0.00% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 0.04% | 0.34% | 1.18% | 0.51% | 1.07% | 0.04% | 0.05% | 0.38% | 1.30% | 0.09% | 4.84% |
Frequently Asked Questions
HIBS and SOXL have a correlation of -0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (55.19%) compared to HIBS (27.81%). In terms of maximum drawdown, HIBS dropped -99.98% vs SOXL's -90.46%.
On 5-year performance, SOXL leads with 36.47% vs -51.83% for HIBS. On fees, SOXL is cheaper at 0.75% per year. On volatility, HIBS has been the lower-risk option at 27.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SOXL has performed better with a 36.47% return vs -51.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXL is cheaper with a 0.75% expense ratio, compared with 1.06% for HIBS.
HIBS has the higher dividend yield at 9.84%, compared with 0.04% for SOXL.
HIBS is categorized as Inverse Equities, while SOXL is Leveraged Equities. HIBS tracks S&P 500® High Beta Index, while SOXL tracks ICE Semiconductor Index. Their fees differ too: 1.06% for HIBS and 0.75% for SOXL.
SOXL currently has the higher Sharpe Ratio (8.26 vs -1.14), 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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