HIBS vs. SRTY
HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) and SRTY (ProShares UltraPro Short Russell2000) are both exchange-traded funds - HIBS is a Inverse Equities fund tracking the S&P 500® High Beta Index, while SRTY is a Leveraged Equities fund tracking the Russell 2000 Index (-300%). Both are passively managed. Over the past 5 years, HIBS returned -53.79%/yr vs -31.49%/yr for SRTY. Their correlation of 0.88 suggests significant overlap in exposure. HIBS charges 1.06%/yr vs 0.95%/yr for SRTY.
Performance
HIBS vs. SRTY - Performance Comparison
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Returns By Period
In the year-to-date period, HIBS achieves a -60.48% return, which is significantly lower than SRTY's -42.78% return.
HIBS
- 1D
- -5.60%
- 1M
- -32.77%
- YTD
- -60.48%
- 6M
- -63.58%
- 1Y
- -83.87%
- 3Y*
- -63.29%
- 5Y*
- -53.79%
- 10Y*
- —
SRTY
- 1D
- -2.70%
- 1M
- -12.83%
- YTD
- -42.78%
- 6M
- -43.96%
- 1Y
- -68.52%
- 3Y*
- -45.90%
- 5Y*
- -31.49%
- 10Y*
- -43.88%
HIBS vs. SRTY - 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% |
SRTY ProShares UltraPro Short Russell2000 | -42.78% | -40.55% | -32.91% | -42.02% | 28.99% | -51.67% | -80.61% | -13.38% |
Correlation
The correlation between HIBS and SRTY is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019 | 0.88 |
The correlation between HIBS and SRTY has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.
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Return for Risk
HIBS vs. SRTY — Risk / Return Rank
HIBS
SRTY
HIBS vs. SRTY - 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 ProShares UltraPro Short Russell2000 (SRTY). 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 | SRTY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.24 | -1.20 | -0.04 |
Sortino ratioReturn per unit of downside risk | -3.08 | -2.26 | -0.82 |
Omega ratioGain probability vs. loss probability | 0.68 | 0.76 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | -1.01 | -1.00 | 0.00 |
Martin ratioReturn relative to average drawdown | -1.51 | -1.52 | +0.01 |
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 | SRTY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.24 | -1.20 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.65 | -0.47 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.64 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.73 | -0.69 | -0.04 |
Drawdowns
HIBS vs. SRTY - Drawdown Comparison
The maximum HIBS drawdown since its inception was -99.98%, roughly equal to the maximum SRTY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for HIBS and SRTY.
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Drawdown Indicators
| HIBS | SRTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -100.00% | +0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -83.13% | -67.42% | -15.71% |
Max Drawdown (3Y)Largest decline over 3 years | -96.48% | -88.56% | -7.92% |
Max Drawdown (5Y)Largest decline over 5 years | -98.52% | -91.18% | -7.34% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.74% | — |
Current DrawdownCurrent decline from peak | -99.98% | -100.00% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -93.13% | -93.78% | +0.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 55.90% | 45.29% | +10.61% |
Volatility
HIBS vs. SRTY - Volatility Comparison
Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) has a higher volatility of 21.89% compared to ProShares UltraPro Short Russell2000 (SRTY) at 16.76%. This indicates that HIBS's price experiences larger fluctuations and is considered to be riskier than SRTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIBS | SRTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.89% | 16.76% | +5.13% |
Volatility (6M)Calculated over the trailing 6-month period | 52.77% | 40.76% | +12.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.61% | 57.04% | +10.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.47% | 67.42% | +15.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 94.83% | 68.34% | +26.49% |
HIBS vs. SRTY - Expense Ratio Comparison
HIBS has a 1.06% expense ratio, which is higher than SRTY's 0.95% expense ratio.
Dividends
HIBS vs. SRTY - Dividend Comparison
HIBS's dividend yield for the trailing twelve months is around 11.98%, more than SRTY's 9.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
SRTY ProShares UltraPro Short Russell2000 | 9.55% | 6.87% | 9.40% | 4.93% | 0.17% | 0.00% | 0.95% | 2.13% | 0.70% | 0.04% |
Frequently Asked Questions
HIBS and SRTY have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIBS has higher volatility (21.89%) compared to SRTY (16.76%). In terms of maximum drawdown, HIBS dropped -99.98% vs SRTY's -100.00%.
On 5-year performance, SRTY leads with -31.49% vs -53.79% for HIBS. On fees, SRTY is cheaper at 0.95% per year. On volatility, SRTY has been the lower-risk option at 16.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SRTY has performed better with a -31.49% return vs -53.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SRTY is cheaper with a 0.95% expense ratio, compared with 1.06% for HIBS.
HIBS has the higher dividend yield at 11.98%, compared with 9.55% for SRTY.
HIBS is categorized as Inverse Equities, while SRTY is Leveraged Equities. HIBS tracks S&P 500® High Beta Index, while SRTY tracks Russell 2000 Index (-300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.06% for HIBS and 0.95% for SRTY.
SRTY currently has the higher Sharpe Ratio (-1.20 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.
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