HIBS vs. TECL
HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) and TECL (Direxion Daily Technology Bull 3X Shares) are both exchange-traded funds - HIBS is a Inverse Equities fund tracking the S&P 500® High Beta Index, while TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%). Both are passively managed. Over the past 5 years, HIBS returned -51.83%/yr vs 35.93%/yr for TECL. At a correlation of -0.74, they often move in opposite directions. HIBS charges 1.06%/yr vs 0.91%/yr for TECL.
Performance
HIBS vs. TECL - 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 TECL's 72.61% return.
HIBS
- 1D
- 18.08%
- 1M
- -7.51%
- YTD
- -51.89%
- 6M
- -51.65%
- 1Y
- -79.46%
- 3Y*
- -60.33%
- 5Y*
- -51.83%
- 10Y*
- —
TECL
- 1D
- -19.93%
- 1M
- 15.09%
- YTD
- 72.61%
- 6M
- 62.00%
- 1Y
- 182.62%
- 3Y*
- 66.22%
- 5Y*
- 35.93%
- 10Y*
- 50.09%
HIBS vs. TECL - 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% |
TECL Direxion Daily Technology Bull 3X Shares | 72.61% | 38.60% | 36.15% | 203.14% | -74.32% | 112.80% | 69.46% | 22.46% |
Correlation
The correlation between HIBS and TECL 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 | -0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.84 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019 | -0.74 |
The correlation between HIBS and TECL has been stable across timeframes, ranging from -0.84 to -0.74 - a consistent structural relationship.
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Return for Risk
HIBS vs. TECL — Risk / Return Rank
HIBS
TECL
HIBS vs. TECL - 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 Technology Bull 3X Shares (TECL). 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 | TECL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.94 | ||
| Sortino ratioReturn per unit of downside risk | -5.36 | ||
| Omega ratioGain probability vs. loss probability | 0.73 | 1.38 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 3.95 | -4.91 |
| Martin ratioReturn relative to average drawdown | -1.48 | 11.27 | -12.75 |
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 | TECL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.14 | 2.80 | -3.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.63 | 0.48 | -1.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.69 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.72 | 0.73 | -1.44 |
Drawdowns
HIBS vs. TECL - Drawdown Comparison
The maximum HIBS drawdown since its inception was -99.98%, which is greater than TECL's maximum drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for HIBS and TECL.
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Drawdown Indicators
| HIBS | TECL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -77.96% | -22.02% |
Max Drawdown (1Y)Largest decline over 1 year | -82.61% | -46.58% | -36.03% |
Max Drawdown (3Y)Largest decline over 3 years | -96.48% | -66.58% | -29.90% |
Max Drawdown (5Y)Largest decline over 5 years | -98.52% | -77.96% | -20.56% |
Max Drawdown (10Y)Largest decline over 10 years | — | -77.96% | — |
Current DrawdownCurrent decline from peak | -99.98% | -25.87% | -74.11% |
Average DrawdownAverage peak-to-trough decline | -93.14% | -18.38% | -74.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 54.86% | 16.27% | +38.59% |
Volatility
HIBS vs. TECL - Volatility Comparison
The current volatility for Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) is 27.81%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 31.75%. This indicates that HIBS experiences smaller price fluctuations and is considered to be less risky than TECL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIBS | TECL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.81% | 31.75% | -3.94% |
Volatility (6M)Calculated over the trailing 6-month period | 55.37% | 55.01% | +0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.99% | 65.56% | +4.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.83% | 74.60% | +8.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.03% | 72.63% | +22.40% |
HIBS vs. TECL - Expense Ratio Comparison
HIBS has a 1.06% expense ratio, which is higher than TECL's 0.91% expense ratio.
Dividends
HIBS vs. TECL - Dividend Comparison
HIBS's dividend yield for the trailing twelve months is around 9.84%, more than TECL's 4.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
TECL Direxion Daily Technology Bull 3X Shares | 4.12% | 7.19% | 0.29% | 0.28% | 0.22% | 0.32% | 0.52% | 0.25% | 0.47% | 0.10% |
Frequently Asked Questions
HIBS and TECL 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.
TECL has higher volatility (31.75%) compared to HIBS (27.81%). In terms of maximum drawdown, HIBS dropped -99.98% vs TECL's -77.96%.
On 5-year performance, TECL leads with 35.93% vs -51.83% for HIBS. On fees, TECL is cheaper at 0.91% 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, TECL has performed better with a 35.93% return vs -51.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TECL is cheaper with a 0.91% expense ratio, compared with 1.06% for HIBS.
HIBS has the higher dividend yield at 9.84%, compared with 4.12% for TECL.
HIBS is categorized as Inverse Equities, while TECL is Leveraged Equities. HIBS tracks S&P 500® High Beta Index, while TECL tracks Technology Select Sector Index (300%). Their fees differ too: 1.06% for HIBS and 0.91% for TECL.
TECL currently has the higher Sharpe Ratio (2.80 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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