HIBS vs. TSLQ

Last updated Jun 26, 2026

HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) and TSLQ (Tradr 2X Short TSLA Daily ETF) are both Inverse Equities funds. HIBS is passively managed, while TSLQ is actively managed. Over the past 3 years, HIBS returned -63.69%/yr vs -64.42%/yr for TSLQ. A 0.56 correlation means they provide meaningful diversification when combined. HIBS charges 1.06%/yr vs 1.17%/yr for TSLQ.

Performance

HIBS vs. TSLQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) and Tradr 2X Short TSLA Daily ETF (TSLQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HIBS achieves a -64.03% return, which is significantly lower than TSLQ's 17.46% return.

HIBS

• 1D: -6.71%
• 1M: -21.41%
• YTD: -64.03%
• 6M: -61.26%
• 1Y: -81.64%
• 3Y*: -63.69%
• 5Y*: -54.87%
• 10Y*: —

TSLQ

• 1D: 0.09%
• 1M: 26.81%
• YTD: 17.46%
• 6M: 36.29%
• 1Y: -53.58%
• 3Y*: -64.42%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HIBS vs. TSLQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares	-64.03%	-72.44%	-26.60%	-62.94%	-37.84%
TSLQ Tradr 2X Short TSLA Daily ETF	17.46%	-74.67%	-83.21%	-59.97%	61.04%

Correlation

The correlation between HIBS and TSLQ is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jul 14, 2022	0.56

The correlation between HIBS and TSLQ has been stable across timeframes, ranging from 0.54 to 0.56 - a consistent structural relationship.

Return for Risk

HIBS vs. TSLQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HIBS

HIBS Risk / Return Rank: 0
HIBS Sharpe Ratio Rank: 1
HIBS Sortino Ratio Rank: 0
HIBS Omega Ratio Rank: 0
HIBS Calmar Ratio Rank: 0
HIBS Martin Ratio Rank: 1

TSLQ

TSLQ Risk / Return Rank: 5
TSLQ Sharpe Ratio Rank: 4
TSLQ Sortino Ratio Rank: 5
TSLQ Omega Ratio Rank: 5
TSLQ Calmar Ratio Rank: 3
TSLQ Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HIBS vs. TSLQ - 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 Tradr 2X Short TSLA Daily ETF (TSLQ). 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	TSLQ	Difference
Sharpe ratio: Return per unit of total volatility	-1.10	-0.61	-0.49
Sortino ratio: Return per unit of downside risk	-2.58	-0.62	-1.97
Omega ratio: Gain probability vs. loss probability	0.73	0.93	-0.20
Calmar ratio: Return relative to maximum drawdown	-1.00	-0.74	-0.26
Martin ratio: Return relative to average drawdown	-1.67	-0.95	-0.72

HIBS vs. TSLQ - Sharpe Ratio Comparison

The current HIBS Sharpe Ratio is -1.10, which is lower than the TSLQ Sharpe Ratio of -0.61. The chart below compares the historical Sharpe Ratios of HIBS and TSLQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HIBS vs. TSLQ - Drawdown Comparison

The maximum HIBS drawdown since its inception was -99.98%, roughly equal to the maximum TSLQ drawdown of -98.73%. Use the drawdown chart below to compare losses from any high point for HIBS and TSLQ.

Drawdown Indicators

	HIBS	TSLQ	Difference
Max Drawdown Largest peak-to-trough decline	-99.98%	-98.73%	-1.25%
Max Drawdown (1Y) Largest decline over 1 year	-81.45%	-72.21%	-9.24%
Max Drawdown (3Y) Largest decline over 3 years	-96.91%	-97.85%	+0.94%
Max Drawdown (5Y) Largest decline over 5 years	-98.70%	—	—
Current Drawdown Current decline from peak	-99.98%	-98.25%	-1.73%
Average Drawdown Average peak-to-trough decline	-93.14%	-67.67%	-25.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	50.79%	56.50%	-5.71%

Volatility

HIBS vs. TSLQ - Volatility Comparison

Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) has a higher volatility of 34.88% compared to Tradr 2X Short TSLA Daily ETF (TSLQ) at 27.08%. This indicates that HIBS's price experiences larger fluctuations and is considered to be riskier than TSLQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIBS	TSLQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	34.88%	27.08%	+7.80%
Volatility (6M) Calculated over the trailing 6-month period	60.84%	56.64%	+4.20%
Volatility (1Y) Calculated over the trailing 1-year period	74.23%	87.75%	-13.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.58%	94.23%	-10.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.26%	94.23%	+1.03%

HIBS vs. TSLQ - Expense Ratio Comparison

HIBS has a 1.06% expense ratio, which is lower than TSLQ's 1.17% expense ratio.

Dividends

HIBS vs. TSLQ - Dividend Comparison

HIBS's dividend yield for the trailing twelve months is around 9.87%, more than TSLQ's 8.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares	9.87%	8.42%	5.34%	6.49%	0.04%	0.00%	0.92%	0.13%
TSLQ Tradr 2X Short TSLA Daily ETF	8.99%	10.56%	4.95%	13.35%	2.56%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HIBS and TSLQ in my portfolio?

HIBS and TSLQ have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HIBS or TSLQ?

HIBS has higher volatility (34.88%) compared to TSLQ (27.08%). In terms of maximum drawdown, HIBS dropped -99.98% vs TSLQ's -98.73%.

Which ETF is better, HIBS or TSLQ?

On 3-year performance, HIBS leads with -63.69% vs -64.42% for TSLQ. On fees, HIBS is cheaper at 1.06% per year. On volatility, TSLQ has been the lower-risk option at 27.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HIBS or TSLQ?

Over the 3-year period, HIBS has performed better with a -63.69% return vs -64.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HIBS or TSLQ?

HIBS is cheaper with a 1.06% expense ratio, compared with 1.17% for TSLQ.

Which ETF pays a higher dividend yield, HIBS or TSLQ?

HIBS has the higher dividend yield at 9.87%, compared with 8.99% for TSLQ.

What is the main difference between HIBS and TSLQ?

They also come from different issuers: Direxion and Tradr. Their fees differ too: 1.06% for HIBS and 1.17% for TSLQ.

Which has better risk-adjusted returns?

TSLQ currently has the higher Sharpe Ratio (-0.61 vs -1.10), 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.