HIBS vs. TZA
Compare and contrast key facts about Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) and Direxion Daily Small Cap Bear 3X Shares (TZA).
HIBS and TZA 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 (300%). It was launched on Nov 7, 2019. TZA is a passively managed fund by Direxion that tracks the performance of the Russell 2000 Index (-300%). It was launched on Nov 5, 2008. Both HIBS and TZA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HIBS or TZA.
Key characteristics
| HIBS | TZA | |
|---|---|---|
| YTD Return | -33.61% | -43.98% |
| 1Y Return | -64.30% | -67.39% |
| 3Y Return (Ann) | -37.68% | -19.41% |
| 5Y Return (Ann) | -67.18% | -48.60% |
| Sharpe Ratio | -1.01 | -1.02 |
| Sortino Ratio | -1.77 | -1.73 |
| Omega Ratio | 0.81 | 0.80 |
| Calmar Ratio | -0.64 | -0.66 |
| Martin Ratio | -1.26 | -1.36 |
| Ulcer Index | 50.88% | 48.59% |
| Daily Std Dev | 63.53% | 64.71% |
| Max Drawdown | -99.85% | -100.00% |
| Current Drawdown | -99.85% | -100.00% |
Correlation
The correlation between HIBS and TZA is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
HIBS vs. TZA - Performance Comparison
In the year-to-date period, HIBS achieves a -33.61% return, which is significantly higher than TZA's -43.98% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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HIBS vs. TZA - Expense Ratio Comparison
HIBS has a 1.07% expense ratio, which is lower than TZA's 1.11% expense ratio.
Risk-Adjusted Performance
HIBS vs. TZA - Risk-Adjusted Performance 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 Small Cap Bear 3X Shares (TZA). 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.
Dividends
HIBS vs. TZA - Dividend Comparison
HIBS's dividend yield for the trailing twelve months is around 6.94%, more than TZA's 6.74% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | 6.94% | 6.52% | 0.04% | 0.00% | 0.90% | 0.13% | 0.00% |
TZA Direxion Daily Small Cap Bear 3X Shares | 6.74% | 5.49% | 0.00% | 0.00% | 1.21% | 1.57% | 0.63% |
Drawdowns
HIBS vs. TZA - Drawdown Comparison
The maximum HIBS drawdown since its inception was -99.85%, roughly equal to the maximum TZA drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for HIBS and TZA. For additional features, visit the drawdowns tool.
Volatility
HIBS vs. TZA - Volatility Comparison
The current volatility for Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) is 17.63%, while Direxion Daily Small Cap Bear 3X Shares (TZA) has a volatility of 23.68%. This indicates that HIBS experiences smaller price fluctuations and is considered to be less risky than TZA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.