SRTY vs. HIBS
SRTY (ProShares UltraPro Short Russell2000) and HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) are both exchange-traded funds - SRTY is a Leveraged Equities fund tracking the Russell 2000 Index (-300%), while HIBS is a Inverse Equities fund tracking the S&P 500® High Beta Index. Both are passively managed. Over the past 5 years, SRTY returned -31.09%/yr vs -54.42%/yr for HIBS. Their correlation of 0.88 suggests significant overlap in exposure. SRTY charges 0.95%/yr vs 1.06%/yr for HIBS.
Performance
SRTY vs. HIBS - Performance Comparison
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Returns By Period
In the year-to-date period, SRTY achieves a -46.00% return, which is significantly higher than HIBS's -61.28% return.
SRTY
- 1D
- 2.94%
- 1M
- -11.85%
- YTD
- -46.00%
- 6M
- -41.91%
- 1Y
- -67.40%
- 3Y*
- -47.20%
- 5Y*
- -31.09%
- 10Y*
- -44.65%
HIBS
- 1D
- 11.66%
- 1M
- -22.55%
- YTD
- -61.28%
- 6M
- -58.56%
- 1Y
- -81.56%
- 3Y*
- -62.72%
- 5Y*
- -54.42%
- 10Y*
- —
SRTY vs. HIBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SRTY ProShares UltraPro Short Russell2000 | -46.00% | -40.55% | -32.91% | -42.02% | 28.99% | -51.67% | -80.61% | -14.09% |
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | -61.28% | -72.44% | -26.60% | -62.94% | -7.59% | -75.27% | -91.59% | -17.80% |
Correlation
The correlation between SRTY and HIBS is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019 | 0.88 |
The correlation between SRTY and HIBS has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.
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Return for Risk
SRTY vs. HIBS — Risk / Return Rank
SRTY
HIBS
SRTY vs. HIBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short Russell2000 (SRTY) 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.
| SRTY | HIBS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 0.73 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | -0.99 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.56 | -1.62 | +0.06 |
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Drawdowns
SRTY vs. HIBS - Drawdown Comparison
The maximum SRTY drawdown since its inception was -100.00%, roughly equal to the maximum HIBS drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for SRTY and HIBS.
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Drawdown Indicators
| SRTY | HIBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -99.98% | -0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -68.17% | -82.33% | +14.16% |
Max Drawdown (3Y)Largest decline over 3 years | -89.46% | -96.91% | +7.45% |
Max Drawdown (5Y)Largest decline over 5 years | -91.87% | -98.70% | +6.83% |
Max Drawdown (10Y)Largest decline over 10 years | -99.76% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -99.98% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -94.14% | -93.13% | -1.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.57% | 53.14% | -9.57% |
Volatility
SRTY vs. HIBS - Volatility Comparison
The current volatility for ProShares UltraPro Short Russell2000 (SRTY) is 19.61%, while Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) has a volatility of 35.05%. This indicates that SRTY 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
| SRTY | HIBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.61% | 35.05% | -15.44% |
Volatility (6M)Calculated over the trailing 6-month period | 43.09% | 60.54% | -17.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.89% | 74.07% | -15.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.68% | 83.51% | -15.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 68.42% | 95.27% | -26.85% |
SRTY vs. HIBS - Expense Ratio Comparison
SRTY has a 0.95% expense ratio, which is lower than HIBS's 1.06% expense ratio.
Dividends
SRTY vs. HIBS - Dividend Comparison
SRTY's dividend yield for the trailing twelve months is around 10.12%, less than HIBS's 12.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | 12.23% | 8.42% | 5.34% | 6.49% | 0.04% | 0.00% | 0.92% | 0.13% | 0.00% | 0.00% |
SRTY ProShares UltraPro Short Russell2000 | 10.12% | 6.87% | 9.40% | 4.93% | 0.17% | 0.00% | 0.95% | 2.13% | 0.70% | 0.04% |
Frequently Asked Questions
SRTY and HIBS have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIBS has higher volatility (35.05%) compared to SRTY (19.61%). In terms of maximum drawdown, SRTY dropped -100.00% vs HIBS's -99.98%.
On 5-year performance, SRTY leads with -31.09% vs -54.42% for HIBS. On fees, SRTY is cheaper at 0.95% per year. On volatility, SRTY has been the lower-risk option at 19.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SRTY has performed better with a -31.09% return vs -54.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SRTY is cheaper with a 0.95% expense ratio, compared with 1.06% for HIBS.
HIBS has the higher dividend yield at 12.23%, compared with 10.12% for SRTY.
SRTY is categorized as Leveraged Equities, while HIBS is Inverse Equities. SRTY tracks Russell 2000 Index (-300%), while HIBS tracks S&P 500® High Beta Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for SRTY and 1.06% for HIBS.
HIBS currently has the higher Sharpe Ratio (-1.10 vs -1.15), 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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