HIBS vs. YQQQ

Last updated Apr 2, 2026

Compare and contrast key facts about Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) and YieldMax Short N100 Option Income Strategy ETF (YQQQ).

HIBS and YQQQ 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. YQQQ is an actively managed fund by YieldMax. It was launched on Aug 14, 2024.

Performance

HIBS vs. YQQQ - 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 YieldMax Short N100 Option Income Strategy ETF (YQQQ). The values are adjusted to include any dividend payments, if applicable.

HIBS vs. YQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares	-8.44%	-72.44%	-15.80%
YQQQ YieldMax Short N100 Option Income Strategy ETF	10.57%	-9.97%	-4.06%

Returns By Period

In the year-to-date period, HIBS achieves a -8.44% return, which is significantly lower than YQQQ's 10.57% return.

HIBS

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

YQQQ

• 1D: -1.10%
• 1M: 5.50%
• YTD: 10.57%
• 6M: 12.35%
• 1Y: -7.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HIBS vs. YQQQ - Expense Ratio Comparison

HIBS has a 1.06% expense ratio, which is higher than YQQQ's 0.99% expense ratio.

HIBS

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

YQQQ

YieldMax Short N100 Option Income Strategy ETF

Return for Risk

HIBS vs. YQQQ — 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

YQQQ

YQQQ Risk / Return Rank: 6
YQQQ Sharpe Ratio Rank: 5
YQQQ Sortino Ratio Rank: 5
YQQQ Omega Ratio Rank: 4
YQQQ Calmar Ratio Rank: 7
YQQQ Martin Ratio Rank: 9

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. YQQQ - 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 YieldMax Short N100 Option Income Strategy ETF (YQQQ). 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	YQQQ	Difference
Sharpe ratio Return per unit of total volatility	-0.90	-0.42	-0.48
Sortino ratio Return per unit of downside risk	-1.77	-0.44	-1.33
Omega ratio Gain probability vs. loss probability	0.77	0.93	-0.16
Calmar ratio Return relative to maximum drawdown	-0.91	-0.31	-0.61
Martin ratio Return relative to average drawdown	-1.04	-0.41	-0.63
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. YQQQ - Sharpe Ratio Comparison

The current HIBS Sharpe Ratio is -0.90, which is lower than the YQQQ Sharpe Ratio of -0.42. The chart below compares the historical Sharpe Ratios of HIBS and YQQQ, 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	YQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.90	-0.42	-0.48
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	-0.17	-0.52

Correlation

The correlation between HIBS and YQQQ is 0.81, 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.

Dividends

HIBS vs. YQQQ - Dividend Comparison

HIBS's dividend yield for the trailing twelve months is around 5.17%, less than YQQQ's 27.65% 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%
YQQQ YieldMax Short N100 Option Income Strategy ETF	27.65%	31.71%	7.88%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

HIBS vs. YQQQ - Drawdown Comparison

The maximum HIBS drawdown since its inception was -99.96%, which is greater than YQQQ's maximum drawdown of -24.85%. Use the drawdown chart below to compare losses from any high point for HIBS and YQQQ.

Drawdown Indicators

	HIBS	YQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-99.96%	-24.85%	-75.11%
Max Drawdown (1Y) Largest decline over 1 year	-88.93%	-24.85%	-64.08%
Max Drawdown (5Y) Largest decline over 5 years	-97.19%	—	—
Current Drawdown Current decline from peak	-99.96%	-12.77%	-87.19%
Average Drawdown Average peak-to-trough decline	-92.95%	-13.36%	-79.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	78.08%	18.68%	+59.40%

Volatility

HIBS vs. YQQQ - Volatility Comparison

Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) has a higher volatility of 27.85% compared to YieldMax Short N100 Option Income Strategy ETF (YQQQ) at 5.37%. This indicates that HIBS's price experiences larger fluctuations and is considered to be riskier than YQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIBS	YQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.85%	5.37%	+22.48%
Volatility (6M) Calculated over the trailing 6-month period	54.19%	9.43%	+44.76%
Volatility (1Y) Calculated over the trailing 1-year period	90.43%	17.32%	+73.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	82.11%	16.38%	+65.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.36%	16.38%	+78.98%