HIBS vs. WEBS
HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) and WEBS (Daily Dow Jones Internet Bear 3X Shares) are both exchange-traded funds - HIBS is a Inverse Equities fund tracking the S&P 500® High Beta Index, while WEBS is a Leveraged Equities fund tracking the Dow Jones Internet Composite Index (300%). Both are passively managed. Over the past 5 years, HIBS returned -51.83%/yr vs -35.60%/yr for WEBS. A 0.69 correlation means they provide meaningful diversification when combined. HIBS charges 1.06%/yr vs 1.07%/yr for WEBS.
Performance
HIBS vs. WEBS - Performance Comparison
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Returns By Period
In the year-to-date period, HIBS achieves a -51.89% return, which is significantly lower than WEBS's -9.31% return.
HIBS
- 1D
- 18.08%
- 1M
- -7.51%
- YTD
- -51.89%
- 6M
- -51.65%
- 1Y
- -79.46%
- 3Y*
- -60.33%
- 5Y*
- -51.83%
- 10Y*
- —
WEBS
- 1D
- 9.96%
- 1M
- -6.56%
- YTD
- -9.31%
- 6M
- -4.94%
- 1Y
- -21.32%
- 3Y*
- -47.53%
- 5Y*
- -35.60%
- 10Y*
- —
HIBS vs. WEBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | -51.89% | -72.44% | -26.60% | -62.94% | -7.59% | -75.27% | -91.59% | -19.45% |
WEBS Daily Dow Jones Internet Bear 3X Shares | -9.31% | -40.66% | -56.62% | -75.58% | 117.15% | -39.82% | -87.18% | -13.16% |
Correlation
The correlation between HIBS and WEBS is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019 | 0.69 |
The correlation between HIBS and WEBS shifts across timeframes, from 0.62 (1 year) to 0.79 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HIBS vs. WEBS — Risk / Return Rank
HIBS
WEBS
HIBS vs. WEBS - 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 Daily Dow Jones Internet Bear 3X Shares (WEBS). 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 | WEBS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -2.42 | ||
| Omega ratioGain probability vs. loss probability | 0.73 | 0.98 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | -0.40 | -0.56 |
| Martin ratioReturn relative to average drawdown | -1.48 | -0.91 | -0.57 |
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 | WEBS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.14 | -0.37 | -0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.63 | -0.44 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.72 | -0.58 | -0.14 |
Drawdowns
HIBS vs. WEBS - Drawdown Comparison
The maximum HIBS drawdown since its inception was -99.98%, roughly equal to the maximum WEBS drawdown of -99.63%. Use the drawdown chart below to compare losses from any high point for HIBS and WEBS.
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Drawdown Indicators
| HIBS | WEBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -99.63% | -0.35% |
Max Drawdown (1Y)Largest decline over 1 year | -82.61% | -53.54% | -29.07% |
Max Drawdown (3Y)Largest decline over 3 years | -96.48% | -90.33% | -6.15% |
Max Drawdown (5Y)Largest decline over 5 years | -98.52% | -97.09% | -1.43% |
Current DrawdownCurrent decline from peak | -99.98% | -99.56% | -0.42% |
Average DrawdownAverage peak-to-trough decline | -93.14% | -91.10% | -2.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 54.86% | 23.55% | +31.31% |
Volatility
HIBS vs. WEBS - Volatility Comparison
Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) has a higher volatility of 27.81% compared to Daily Dow Jones Internet Bear 3X Shares (WEBS) at 18.69%. This indicates that HIBS's price experiences larger fluctuations and is considered to be riskier than WEBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIBS | WEBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.81% | 18.69% | +9.12% |
Volatility (6M)Calculated over the trailing 6-month period | 55.37% | 44.45% | +10.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.99% | 58.38% | +11.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.83% | 81.87% | +0.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.03% | 89.88% | +5.15% |
HIBS vs. WEBS - Expense Ratio Comparison
HIBS has a 1.06% expense ratio, which is lower than WEBS's 1.07% expense ratio.
Dividends
HIBS vs. WEBS - Dividend Comparison
HIBS's dividend yield for the trailing twelve months is around 9.84%, more than WEBS's 3.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | 9.84% | 8.42% | 5.34% | 6.49% | 0.04% | 0.00% | 0.92% | 0.13% |
WEBS Daily Dow Jones Internet Bear 3X Shares | 3.60% | 3.77% | 8.02% | 8.51% | 0.20% | 0.00% | 1.11% | 0.11% |
Frequently Asked Questions
HIBS and WEBS have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIBS has higher volatility (27.81%) compared to WEBS (18.69%). In terms of maximum drawdown, HIBS dropped -99.98% vs WEBS's -99.63%.
On 5-year performance, WEBS leads with -35.60% vs -51.83% for HIBS. On fees, HIBS is cheaper at 1.06% per year. On volatility, WEBS has been the lower-risk option at 18.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, WEBS has performed better with a -35.60% return vs -51.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HIBS is cheaper with a 1.06% expense ratio, compared with 1.07% for WEBS.
HIBS has the higher dividend yield at 9.84%, compared with 3.60% for WEBS.
HIBS is categorized as Inverse Equities, while WEBS is Leveraged Equities. HIBS tracks S&P 500® High Beta Index, while WEBS tracks Dow Jones Internet Composite Index (300%). Their fees differ too: 1.06% for HIBS and 1.07% for WEBS.
WEBS currently has the higher Sharpe Ratio (-0.37 vs -1.14), 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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