SARK vs. HIBS
SARK (Tradr Short Innovation Daily ETF) and HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) are both Inverse Equities funds. SARK is actively managed, while HIBS is passively managed. Over the past 3 years, SARK returned -27.44%/yr vs -59.51%/yr for HIBS. Their correlation of 0.81 means they have usually moved in the same direction. SARK charges 0.75%/yr vs 1.06%/yr for HIBS.
Performance
SARK vs. HIBS - Performance Comparison
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Returns By Period
In the year-to-date period, SARK achieves a -3.11% return, which is significantly higher than HIBS's -57.25% return.
SARK
- 1D
- -3.27%
- 1M
- 9.43%
- 6M
- -5.48%
- YTD
- -3.11%
- 1Y
- -13.90%
- 3Y*
- -27.44%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -11.77%
HIBS
- 1D
- -7.41%
- 1M
- 5.19%
- 6M
- -50.01%
- YTD
- -57.25%
- 1Y
- -74.19%
- 3Y*
- -59.51%
- 5Y*
- -54.45%
- 10Y*
- —
- ALL TIME*
- -67.57%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.00M | $5.46M | $4.96M | |
| $4.82M | $4.74M | $6.36M |
SARK vs. HIBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SARK Tradr Short Innovation Daily ETF | -3.11% | -25.93% | -36.90% | -46.32% | 83.35% | 24.05% |
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | -57.25% | -72.44% | -26.60% | -62.94% | -7.59% | 6.86% |
Correlation
The correlation between SARK and HIBS is 0.76, 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. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | 0.81 |
The correlation between SARK and HIBS has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.
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Return for Risk
SARK vs. HIBS — Risk / Return Rank
SARK
HIBS
SARK vs. HIBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tradr Short Innovation Daily ETF (SARK) and Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS). 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.
| SARK | HIBS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +1.46 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.81 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.53 | -0.94 | +0.41 |
| Martin ratioReturn relative to average drawdown | -0.95 | -1.50 | +0.55 |
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Drawdowns
SARK vs. HIBS - Drawdown Comparison
The maximum SARK drawdown since its inception was -81.07%, smaller than the maximum HIBS drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for SARK and HIBS.
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Drawdown Indicators
| SARK | HIBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.07% | -99.98% | +18.91% |
Max Drawdown (1Y)Largest decline over 1 year | -26.34% | -78.96% | +52.62% |
Max Drawdown (3Y)Largest decline over 3 years | -74.42% | -96.91% | +22.49% |
Max Drawdown (5Y)Largest decline over 5 years | — | -98.61% | — |
Current DrawdownCurrent decline from peak | -78.61% | -99.98% | +21.37% |
Average DrawdownAverage peak-to-trough decline | -47.56% | -93.25% | +45.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.48% | 49.76% | -34.28% |
Volatility
SARK vs. HIBS - Volatility Comparison
The current volatility for Tradr Short Innovation Daily ETF (SARK) is 11.15%, while Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) has a volatility of 29.66%. This indicates that SARK experiences smaller price fluctuations and is considered to be less risky than HIBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SARK | HIBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.15% | 29.66% | -18.51% |
Volatility (6M)Calculated over the trailing 6-month period | 27.72% | 66.62% | -38.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.31% | 80.17% | -43.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.75% | 84.05% | -28.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.75% | 95.37% | -39.62% |
SARK vs. HIBS - Expense Ratio Comparison
SARK has a 0.75% expense ratio, which is lower than HIBS's 1.06% expense ratio.
Dividends
SARK vs. HIBS - Dividend Comparison
SARK's dividend yield for the trailing twelve months is around 2.91%, less than HIBS's 8.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | 8.30% | 8.42% | 5.34% | 6.49% | 0.04% | 0.00% | 0.92% | 0.13% |
SARK Tradr Short Innovation Daily ETF | 2.91% | 2.82% | 15.49% | 12.57% | 25.22% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SARK and HIBS have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIBS has higher volatility (29.66%) compared to SARK (11.15%). In terms of maximum drawdown, SARK dropped -81.07% vs HIBS's -99.98%.
On 3-year performance, SARK leads with -27.44% vs -59.51% for HIBS. On fees, SARK is cheaper at 0.75% per year. On volatility, SARK has been the lower-risk option at 11.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SARK has performed better with a -27.44% return vs -59.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SARK is cheaper with a 0.75% expense ratio, compared with 1.06% for HIBS.
HIBS has the higher dividend yield at 8.30%, compared with 2.91% for SARK.
They also come from different issuers: AXS and Direxion. Their fees differ too: 0.75% for SARK and 1.06% for HIBS.
SARK currently has the higher Sharpe Ratio (-0.39 vs -0.93), 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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