HIBS vs. SZK
HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) and SZK (ProShares UltraShort Consumer Goods) are both exchange-traded funds - HIBS is a Inverse Equities fund tracking the S&P 500® High Beta Index, while SZK is a Leveraged Equities fund tracking the Dow Jones U.S. Consumer Goods Index (-200%). Both are passively managed. Over the past 5 years, HIBS returned -54.45%/yr vs -3.89%/yr for SZK. Their 0.45 correlation means their historical movements had little consistent relationship. HIBS charges 1.06%/yr vs 0.95%/yr for SZK.
Performance
HIBS vs. SZK - 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 SZK's -17.29% 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%
SZK
- 1D
- 0.52%
- 1M
- 0.25%
- 6M
- -2.35%
- YTD
- -17.29%
- 1Y
- -11.21%
- 3Y*
- -6.28%
- 5Y*
- -3.89%
- 10Y*
- -16.18%
- ALL TIME*
- -19.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.00M | $5.46M | $4.96M | |
| $73.06K | $65.38K | $43.91K |
HIBS vs. SZK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | -57.25% | -72.44% | -26.60% | -62.94% | -7.59% | -75.27% | -91.59% | -17.80% |
SZK ProShares UltraShort Consumer Goods | -17.29% | 3.37% | -11.33% | -3.10% | 47.20% | -37.78% | -58.24% | -10.44% |
Correlation
The correlation between HIBS and SZK is -0.22, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.22 |
Correlation (3Y) Balances recent behavior with more history. | 0.07 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.39 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019 | 0.45 |
The correlation between HIBS and SZK shifts across timeframes, from -0.22 (1 year) to 0.45 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HIBS vs. SZK — Risk / Return Rank
HIBS
SZK
HIBS vs. SZK - 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 UltraShort Consumer Goods (SZK). 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 | SZK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -1.40 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 0.96 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | -0.38 | -0.56 |
| Martin ratioReturn relative to average drawdown | -1.50 | -0.74 | -0.76 |
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Drawdowns
HIBS vs. SZK - Drawdown Comparison
The maximum HIBS drawdown since its inception was -99.98%, roughly equal to the maximum SZK drawdown of -99.40%. Use the drawdown chart below to compare losses from any high point for HIBS and SZK.
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Drawdown Indicators
| HIBS | SZK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -99.40% | -0.58% |
Max Drawdown (1Y)Largest decline over 1 year | -78.96% | -29.26% | -49.70% |
Max Drawdown (3Y)Largest decline over 3 years | -96.91% | -41.81% | -55.10% |
Max Drawdown (5Y)Largest decline over 5 years | -98.61% | -41.81% | -56.80% |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.78% | — |
Current DrawdownCurrent decline from peak | -99.98% | -99.30% | -0.68% |
Average DrawdownAverage peak-to-trough decline | -93.25% | -82.12% | -11.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.76% | 15.27% | +34.49% |
Volatility
HIBS vs. SZK - Volatility Comparison
Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) has a higher volatility of 29.66% compared to ProShares UltraShort Consumer Goods (SZK) at 11.76%. This indicates that HIBS's price experiences larger fluctuations and is considered to be riskier than SZK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIBS | SZK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.66% | 11.76% | +17.90% |
Volatility (6M)Calculated over the trailing 6-month period | 66.62% | 23.18% | +43.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 80.17% | 28.25% | +51.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 84.05% | 31.98% | +52.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.37% | 33.78% | +61.59% |
HIBS vs. SZK - Expense Ratio Comparison
HIBS has a 1.06% expense ratio, which is higher than SZK's 0.95% expense ratio.
Dividends
HIBS vs. SZK - Dividend Comparison
HIBS's dividend yield for the trailing twelve months is around 8.30%, more than SZK's 2.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
SZK ProShares UltraShort Consumer Goods | 2.78% | 2.90% | 5.70% | 4.03% | 0.56% | 0.00% | 0.19% | 1.70% | 0.50% |
Frequently Asked Questions
HIBS and SZK have a correlation of -0.22, 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 SZK (11.76%). In terms of maximum drawdown, HIBS dropped -99.98% vs SZK's -99.40%.
On 5-year performance, SZK leads with -3.89% vs -54.45% for HIBS. On fees, SZK is cheaper at 0.95% per year. On volatility, SZK has been the lower-risk option at 11.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SZK has performed better with a -3.89% return vs -54.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SZK is cheaper with a 0.95% expense ratio, compared with 1.06% for HIBS.
HIBS has the higher dividend yield at 8.30%, compared with 2.78% for SZK.
HIBS is categorized as Inverse Equities, while SZK is Leveraged Equities. HIBS tracks S&P 500® High Beta Index, while SZK tracks Dow Jones U.S. Consumer Goods Index (-200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.06% for HIBS and 0.95% for SZK.
SZK currently has the higher Sharpe Ratio (-0.40 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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