HIBS vs. TSLZ

Last updated Apr 2, 2026

Compare and contrast key facts about Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ).

HIBS and TSLZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HIBS is a passively managed fund by Direxion that tracks the performance of the S&P 500® High Beta Index. It was launched on Nov 7, 2019. TSLZ is an actively managed fund by T-Rex. It was launched on Oct 18, 2023.

Performance

HIBS vs. TSLZ - 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 T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). The values are adjusted to include any dividend payments, if applicable.

HIBS vs. TSLZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares	-8.44%	-72.44%	-26.60%	-47.67%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	26.84%	-75.98%	-88.79%	-28.07%

Returns By Period

In the year-to-date period, HIBS achieves a -8.44% return, which is significantly lower than TSLZ's 26.84% return.

HIBS

• 1D: -2.91%
• 1M: 9.61%
• YTD: -8.44%
• 6M: -25.12%
• 1Y: -80.81%
• 3Y*: -52.78%
• 5Y*: -48.81%
• 10Y*: —

TSLZ

• 1D: -5.23%
• 1M: 7.73%
• YTD: 26.84%
• 6M: 12.94%
• 1Y: -80.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HIBS vs. TSLZ - Expense Ratio Comparison

HIBS has a 1.06% expense ratio, which is higher than TSLZ's 1.05% expense ratio.

HIBS

Direxion Daily S&P 500 High Beta Bear 3X Shares

TSLZ

T-Rex 2X Inverse Tesla Daily Target ETF

Return for Risk

HIBS vs. TSLZ — Risk / Return Rank

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

HIBS

HIBS Risk / Return Rank: 1
HIBS Sharpe Ratio Rank: 1
HIBS Sortino Ratio Rank: 0
HIBS Omega Ratio Rank: 0
HIBS Calmar Ratio Rank: 0
HIBS Martin Ratio Rank: 4

TSLZ

TSLZ Risk / Return Rank: 2
TSLZ Sharpe Ratio Rank: 2
TSLZ Sortino Ratio Rank: 1
TSLZ Omega Ratio Rank: 1
TSLZ Calmar Ratio Rank: 0
TSLZ Martin Ratio Rank: 4

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. TSLZ - 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 T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). 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	TSLZ	Difference
Sharpe ratio Return per unit of total volatility	-0.90	-0.73	-0.16
Sortino ratio Return per unit of downside risk	-1.77	-1.18	-0.59
Omega ratio Gain probability vs. loss probability	0.77	0.85	-0.08
Calmar ratio Return relative to maximum drawdown	-0.91	-0.91	-0.01
Martin ratio Return relative to average drawdown	-1.04	-1.05	+0.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HIBS vs. TSLZ - Sharpe Ratio Comparison

The current HIBS Sharpe Ratio is -0.90, which is comparable to the TSLZ Sharpe Ratio of -0.73. The chart below compares the historical Sharpe Ratios of HIBS and TSLZ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HIBS	TSLZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.90	-0.73	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.60	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.69	-0.66	-0.03

Correlation

The correlation between HIBS and TSLZ is 0.54, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

HIBS vs. TSLZ - Dividend Comparison

HIBS's dividend yield for the trailing twelve months is around 5.17%, more than TSLZ's 0.54% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares	5.17%	8.42%	5.34%	6.49%	0.04%	0.00%	0.92%	0.13%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	0.54%	0.69%	2.08%	12.15%	0.00%	0.00%	0.00%	0.00%

Drawdowns

HIBS vs. TSLZ - Drawdown Comparison

The maximum HIBS drawdown since its inception was -99.96%, roughly equal to the maximum TSLZ drawdown of -99.11%. Use the drawdown chart below to compare losses from any high point for HIBS and TSLZ.

Drawdown Indicators

	HIBS	TSLZ	Difference
Max Drawdown Largest peak-to-trough decline	-99.96%	-99.11%	-0.85%
Max Drawdown (1Y) Largest decline over 1 year	-88.93%	-90.53%	+1.60%
Max Drawdown (5Y) Largest decline over 5 years	-97.19%	—	—
Current Drawdown Current decline from peak	-99.96%	-98.67%	-1.29%
Average Drawdown Average peak-to-trough decline	-92.95%	-73.71%	-19.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	78.08%	78.12%	-0.04%

Volatility

HIBS vs. TSLZ - Volatility Comparison

Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) has a higher volatility of 27.85% compared to T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) at 22.93%. This indicates that HIBS's price experiences larger fluctuations and is considered to be riskier than TSLZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIBS	TSLZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.85%	22.93%	+4.92%
Volatility (6M) Calculated over the trailing 6-month period	54.19%	58.42%	-4.23%
Volatility (1Y) Calculated over the trailing 1-year period	90.43%	110.05%	-19.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	82.11%	119.08%	-36.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.36%	119.08%	-23.72%