HIBS vs. TSLS
HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) and TSLS (Direxion Daily TSLA Bear 1X ETF) are both Inverse Equities funds from Direxion - HIBS tracks the S&P 500® High Beta Index while TSLS tracks the Tesla, Inc. (-100% Daily). Both are passively managed. Over the past 3 years, HIBS returned -56.71%/yr vs -27.51%/yr for TSLS. Their 0.57 correlation means they have sometimes moved together and sometimes differently. HIBS charges 1.06%/yr vs 0.95%/yr for TSLS.
Performance
HIBS vs. TSLS - Performance Comparison
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Returns By Period
In the year-to-date period, HIBS achieves a -53.83% return, which is significantly lower than TSLS's 33.30% return.
HIBS
- 1D
- 0.48%
- 1M
- 13.62%
- 6M
- -48.40%
- YTD
- -53.83%
- 1Y
- -72.12%
- 3Y*
- -56.71%
- 5Y*
- -53.53%
- 10Y*
- —
- ALL TIME*
- -67.24%
TSLS
- 1D
- -0.74%
- 1M
- 22.65%
- 6M
- 27.99%
- YTD
- 33.30%
- 1Y
- -14.97%
- 3Y*
- -27.51%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -25.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.09M | $5.55M | $4.92M | |
| $28.97M | $27.46M | $30.88M |
HIBS vs. TSLS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | -53.83% | -72.44% | -26.60% | -62.94% | 3.99% |
TSLS Direxion Daily TSLA Bear 1X ETF | 33.30% | -34.95% | -55.71% | -60.12% | 105.60% |
Correlation
The correlation between HIBS and TSLS is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.58 |
Correlation (3Y) Balances recent behavior with more history. | 0.56 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | 0.57 |
The correlation between HIBS and TSLS has been stable across timeframes, ranging from 0.56 to 0.58 - a consistent structural relationship.
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Return for Risk
HIBS vs. TSLS — Risk / Return Rank
HIBS
TSLS
HIBS vs. TSLS - 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 Bear 1X ETF (TSLS). 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 | TSLS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.99 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | -0.32 | -0.57 |
| Martin ratioReturn relative to average drawdown | -1.42 | -0.45 | -0.97 |
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Drawdowns
HIBS vs. TSLS - Drawdown Comparison
The maximum HIBS drawdown since its inception was -99.98%, which is greater than TSLS's maximum drawdown of -90.73%. Use the drawdown chart below to compare losses from any high point for HIBS and TSLS.
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Drawdown Indicators
| HIBS | TSLS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -90.73% | -9.25% |
Max Drawdown (1Y)Largest decline over 1 year | -79.06% | -41.36% | -37.70% |
Max Drawdown (3Y)Largest decline over 3 years | -96.91% | -84.16% | -12.75% |
Max Drawdown (5Y)Largest decline over 5 years | -98.61% | — | — |
Current DrawdownCurrent decline from peak | -99.98% | -86.56% | -13.42% |
Average DrawdownAverage peak-to-trough decline | -93.24% | -64.44% | -28.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.54% | 29.53% | +20.01% |
Volatility
HIBS vs. TSLS - Volatility Comparison
Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) has a higher volatility of 29.61% compared to Direxion Daily TSLA Bear 1X ETF (TSLS) at 19.07%. This indicates that HIBS's price experiences larger fluctuations and is considered to be riskier than TSLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIBS | TSLS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.61% | 19.07% | +10.54% |
Volatility (6M)Calculated over the trailing 6-month period | 66.67% | 33.98% | +32.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 80.06% | 46.81% | +33.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.97% | 58.98% | +24.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.36% | 58.98% | +36.38% |
HIBS vs. TSLS - Expense Ratio Comparison
HIBS has a 1.06% expense ratio, which is higher than TSLS's 0.95% expense ratio.
Dividends
HIBS vs. TSLS - Dividend Comparison
HIBS's dividend yield for the trailing twelve months is around 7.69%, more than TSLS's 2.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | 7.69% | 8.42% | 5.34% | 6.49% | 0.04% | 0.00% | 0.92% | 0.13% |
TSLS Direxion Daily TSLA Bear 1X ETF | 2.36% | 4.30% | 7.62% | 4.52% | 3.46% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HIBS and TSLS have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIBS has higher volatility (29.61%) compared to TSLS (19.07%). In terms of maximum drawdown, HIBS dropped -99.98% vs TSLS's -90.73%.
On 3-year performance, TSLS leads with -27.51% vs -56.71% for HIBS. On fees, TSLS is cheaper at 0.95% per year. On volatility, TSLS has been the lower-risk option at 19.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TSLS has performed better with a -27.51% return vs -56.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TSLS is cheaper with a 0.95% expense ratio, compared with 1.06% for HIBS.
HIBS has the higher dividend yield at 7.69%, compared with 2.36% for TSLS.
HIBS tracks S&P 500® High Beta Index, while TSLS tracks Tesla, Inc. (-100% Daily). Their fees differ too: 1.06% for HIBS and 0.95% for TSLS.
TSLS currently has the higher Sharpe Ratio (-0.28 vs -0.88), 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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