HIBS vs. TSLL
HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) and TSLL (Direxion Daily TSLA Bull 2X ETF) are both exchange-traded funds - HIBS is a Inverse Equities fund tracking the S&P 500® High Beta Index, while TSLL is a Leveraged Equities fund actively managed by Direxion. HIBS is passively managed, while TSLL is actively managed. Over the past 3 years, HIBS returned -63.10%/yr vs 7.98%/yr for TSLL. At a correlation of -0.55, they often move in opposite directions. HIBS charges 1.06%/yr vs 0.83%/yr for TSLL.
Performance
HIBS vs. TSLL - Performance Comparison
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Returns By Period
In the year-to-date period, HIBS achieves a -59.26% return, which is significantly lower than TSLL's -22.80% return.
HIBS
- 1D
- 0.59%
- 1M
- -26.80%
- YTD
- -59.26%
- 6M
- -59.84%
- 1Y
- -82.21%
- 3Y*
- -63.10%
- 5Y*
- -53.41%
- 10Y*
- —
TSLL
- 1D
- -2.47%
- 1M
- 12.96%
- YTD
- -22.80%
- 6M
- -25.74%
- 1Y
- 12.53%
- 3Y*
- 7.98%
- 5Y*
- —
- 10Y*
- —
HIBS vs. TSLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | -59.26% | -72.44% | -26.60% | -62.94% | -2.52% |
TSLL Direxion Daily TSLA Bull 2X ETF | -22.80% | -26.80% | 99.63% | 139.86% | -73.85% |
Correlation
The correlation between HIBS and TSLL is -0.51, 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 | -0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.54 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022 | -0.55 |
The correlation between HIBS and TSLL has been stable across timeframes, ranging from -0.55 to -0.51 - a consistent structural relationship.
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Return for Risk
HIBS vs. TSLL — Risk / Return Rank
HIBS
TSLL
HIBS vs. TSLL - 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 TSLA Bull 2X ETF (TSLL). 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 | TSLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.36 | ||
| Sortino ratioReturn per unit of downside risk | -3.76 | ||
| Omega ratioGain probability vs. loss probability | 0.70 | 1.10 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 0.23 | -1.22 |
| Martin ratioReturn relative to average drawdown | -1.50 | 0.48 | -1.98 |
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 | TSLL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.22 | 0.14 | -1.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.65 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.73 | -0.08 | -0.65 |
Drawdowns
HIBS vs. TSLL - Drawdown Comparison
The maximum HIBS drawdown since its inception was -99.98%, which is greater than TSLL's maximum drawdown of -82.88%. Use the drawdown chart below to compare losses from any high point for HIBS and TSLL.
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Drawdown Indicators
| HIBS | TSLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -82.88% | -17.10% |
Max Drawdown (1Y)Largest decline over 1 year | -83.13% | -54.75% | -28.38% |
Max Drawdown (3Y)Largest decline over 3 years | -96.48% | -82.88% | -13.60% |
Max Drawdown (5Y)Largest decline over 5 years | -98.52% | — | — |
Current DrawdownCurrent decline from peak | -99.98% | -61.02% | -38.96% |
Average DrawdownAverage peak-to-trough decline | -93.14% | -53.83% | -39.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 54.63% | 26.36% | +28.27% |
Volatility
HIBS vs. TSLL - Volatility Comparison
The current volatility for Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) is 22.04%, while Direxion Daily TSLA Bull 2X ETF (TSLL) has a volatility of 24.35%. This indicates that HIBS experiences smaller price fluctuations and is considered to be less risky than TSLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIBS | TSLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.04% | 24.35% | -2.31% |
Volatility (6M)Calculated over the trailing 6-month period | 52.82% | 54.52% | -1.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.45% | 92.41% | -24.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.46% | 106.83% | -24.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 94.78% | 106.83% | -12.05% |
HIBS vs. TSLL - Expense Ratio Comparison
HIBS has a 1.06% expense ratio, which is higher than TSLL's 0.83% expense ratio.
Dividends
HIBS vs. TSLL - Dividend Comparison
HIBS's dividend yield for the trailing twelve months is around 11.62%, more than TSLL's 6.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | 11.62% | 8.42% | 5.34% | 6.49% | 0.04% | 0.00% | 0.92% | 0.13% |
TSLL Direxion Daily TSLA Bull 2X ETF | 6.63% | 5.00% | 2.47% | 4.44% | 1.57% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HIBS and TSLL have a correlation of -0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSLL has higher volatility (24.35%) compared to HIBS (22.04%). In terms of maximum drawdown, HIBS dropped -99.98% vs TSLL's -82.88%.
On 3-year performance, TSLL leads with 7.98% vs -63.10% for HIBS. On fees, TSLL is cheaper at 0.83% per year. On volatility, HIBS has been the lower-risk option at 22.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TSLL has performed better with a 7.98% return vs -63.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TSLL is cheaper with a 0.83% expense ratio, compared with 1.06% for HIBS.
HIBS has the higher dividend yield at 11.62%, compared with 6.63% for TSLL.
HIBS is categorized as Inverse Equities, while TSLL is Leveraged Equities. Their fees differ too: 1.06% for HIBS and 0.83% for TSLL.
TSLL currently has the higher Sharpe Ratio (0.14 vs -1.22), 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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