Skip to content
etf.net

HIBS vs SDOW

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

HIBSFNYSE Arca

ProShares UltraPro Short Dow30

SDOWANYSE Arca

Overlap

Expense ratio

SDOW −0.11pt a year

HIBS1.06%SDOW0.95%

Avg volume · 30D

SDOW 17.9×the volume

HIBS215KSDOW3.85M

5Y return · a year

SDOW +28.6pt

HIBS−51.7%SDOW−23.1%

HIBS vs SDOW Performance

Oct 29, 2021 – Oct 30, 2026

−97.4%HIBS−73.1%SDOW

Oct 29, 2021 to Oct 30, 2026. HIBS −97.4%. SDOW −73.1%. Use the arrow keys to read each point.−50%−25%0%25%50%Oct 2021Apr 2024Oct 2026
Expense ratio
HIBS 1.06%
SDOW 0.95%, better
Fund size
HIBS $18M
SDOW $154M
1Y total return
HIBS −59.4%
SDOW −21.9%, better
Yield (12M)
HIBS 6.05%, better
SDOW 4.76%
Holdings
HIBS 5
SDOW 10
Avg volume (30D)
HIBS 215K sh
SDOW 3.85M sh, better
NAV per share
HIBS $18.71
SDOW $25.01
52W range

ETF.net Grade

HIBS: Cost 23, Risk 24, Mission not scored, Tradability 23, Holdings not scored, Durability 23. SDOW: Cost 84, Risk 69, Mission 78, Tradability 81, Holdings 0, Durability 67.
Pillar letters and Scores for HIBS, SDOW, with each pillar’s weight
PillarHIBSSDOW
Cost30% weightF23A84Higher
Mission25% weightNot scoredA78
Risk15% weightF24B69Higher
Tradability15% weightF23A81Higher
Holdings10% weightNot scoredF0
Durability5% weightF23B67Higher

Rank among 3x Leveraged Inverse funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. HIBS and SDOW are both graded against the same 14 3x Leveraged Inverse funds, so their Grades compare head to head.

3x Leveraged Inverse⁠

Category · 14 funds
See all 14 ›

SDOW ranks 2nd and HIBS 12th of 14 funds in the 3x Leveraged Inverse Category.

  1. Rank 1ASQQQProShares UltraPro Short QQQScore 83
  2. Rank 2ASDOWProShares UltraPro Short Dow30Score 78
  3. Rank 3ASRTYProShares UltraPro Short Russell2000Score 71
  4. Rank 11DEDZDirexion Daily MSCI Emerging Markets Bear 3X ETFScore 31
  5. Rank 12FHIBSDirexion Daily S&P 500 High Beta Bear 3X ETFScore 23
  6. Rank 13FWEBSDirexion Daily Dow Jones Internet Bear 3X ETFScore 22

Our read on each fund

ETF.net Research

HIBSFDirexion Daily S&P 500 High Beta Bear 3X ETF

SDOWAProShares UltraPro Short Dow30

In short

HIBS Most 3x bear funds short an index. HIBS shorts a factor: the S&P 500's 100 most market-sensitive stocks, aiming for -300% of that basket's move for one day, then the math resets.

SDOW The only -3x ETF pointed at the Dow. SDOW aims to deliver three times the inverse of the index's daily move, reset at each close, for 0.95% net of a waiver through September 30, 2027.

Stated mandate

HIBS The fund seeks daily investment results equal to -300% of the daily performance of the S&P 500® High Beta Index, before fees and expenses. Its objective applies for a single day and is not intended to provide the same multiple over longer periods.

SDOW SDOW seeks daily investment results, before fees and expenses, corresponding to three times the inverse of the daily performance of the Dow Jones Industrial Average.

Why people hold it

  • HIBS Targets a factor slice, not a sector or headline index: the 100 highest-beta S&P 500 names, weighted by beta and rescreened quarterly. No peer in its 3x bear group tracks it.spglobal.com
  • 1.06% net of a waiver through September 1, 2027 (1.11% gross). That sits near the category median, in the same neighborhood as TZA at 0.99% and SOXS at 1.00%.
  • Trading since 2019, with a bull counterpart on the same high-beta index, so both sides of the trade come from one issuer with one rulebook.direxion.com
  • SDOW ProShares calls it the only -3x ETF built to move against the Dow's daily price, so a bearish view on the 30 blue chips has one address, not a Nasdaq or small-cap stand-in.proshares.com
  • 0.95% net of a waiver through September 30, 2027 (0.98% gross) lands below the 3x bear median, next to SQQQ at 0.94% and SRTY at 0.95% net of a waiver through the same date.
  • Running since 2010 and actively traded, it sits among the stronger implementations in the 3x bear group, which matters for a tool used in days rather than years.

Worth knowing

  • HIBS The -300% target applies to a single day. Direxion says plainly it is not intended over longer periods; in choppy markets, held returns can diverge widely from -3x.
  • High beta means high sensitivity by construction, so this basket tends to swing harder than the S&P 500 itself before leverage is applied.spglobal.com
  • One of the smaller, less-traded funds in the 3x bear lineup, so spreads and limit orders matter more than with the group's household names.
  • SDOW The -3x target is a one-day target. Held longer, compounding can push results away from -3x the Dow's move over the same stretch, especially after choppy markets.proshares.com
  • Leverage cuts both ways: on a day the Dow rises, the fund is designed to lose roughly three times as much.proshares.com
  • Exposure comes from swaps and futures rather than Dow shares, and the fee runs above a plain Dow index fund.proshares.com

Full HIBS profile⁠

Full SDOW profile⁠

HIBS vs SDOW Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

HIBS vs SDOW Cost

Overpaying HIBS vs SDOW

$1,786

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • HIBS 1.06%

    $19,655

  • SDOW 0.95%

    $17,869

$10,000
30 years

Cost over time

  • HIBS 1.06%
  • SDOW 0.95%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530HIBS $19,655SDOW $17,869

Year by year

YearHIBSSDOWOverpaying
10$1,864$1,678$186
20$6,987$6,322$665
30$19,655$17,869$1,786

Expense ratio

  • 1.06%HIBS
  • 0.95%SDOW, cheaper
  • Middle half of 3x Leveraged Inverse funds
  • Median 1.02%

SDOW 2nd cheapest of 14 funds

HIBS 11th cheapest of 14 funds

HIBS vs SDOW Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
HIBS 6.05%, better
SDOW 4.76%
Payout (12M)
HIBS $1.30
SDOW $1.19
Last payment
HIBS $0.22
SDOW $0.29
Ex-dividend
HIBS Sep 22, 2026
SDOW Sep 23, 2026
Paid on
HIBS Sep 29, 2026
SDOW Sep 29, 2026
Frequency
HIBS Quarterly
SDOW Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

HIBSQuarterly · 11 paymentsAll HIBS payments⁠
One bar per payment. 11 payments from 2017 to 2026 YTD. Dec 23, 2019 $52.96; Mar 19, 2024 $3.02; Jun 25, 2024 $3.19; Dec 23, 2024 $1.46; Mar 25, 2025 $2.30; Jun 24, 2025 $0.76; Sep 23, 2025 $0.68; Dec 23, 2025 $0.51; Mar 24, 2026 $0.42; Jun 23, 2026 $0.15; Sep 22, 2026 $0.22. Use the arrow keys to read each point.$0$502017202020232026YTD
SDOWQuarterly · 26 paymentsAll SDOW payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $1.10; Mar 21, 2018 $2.04; Jun 20, 2018 $2.87; Sep 26, 2018 $3.60; Dec 26, 2018 $6.62; Mar 20, 2019 $2.73; Jun 25, 2019 $4.55; Sep 25, 2019 $3.69; Dec 24, 2019 $2.27; Mar 25, 2020 $1.06; Dec 22, 2022 $0.39; Mar 22, 2023 $0.88; Jun 21, 2023 $1.03; Sep 20, 2023 $1.03; Dec 20, 2023 $1.01; Mar 20, 2024 $1.01; Jun 26, 2024 $1.10; Sep 25, 2024 $0.93; Dec 23, 2024 $1.17; Mar 26, 2025 $0.61; Jun 25, 2025 $0.39; Sep 24, 2025 $0.41; Dec 24, 2025 $0.44; Mar 25, 2026 $0.24; Jun 24, 2026 $0.22; Sep 23, 2026 $0.29. Use the arrow keys to read each point.$0$502017202020232026YTD

HIBS vs SDOW Risk

Fall from peak · 5 years

  • HIBS
  • SDOW
Oct 29, 2021 to Oct 30, 2026. Worst fall: HIBS −98.8% · Oct 2026. Use the arrow keys to read each point.−100%−75%−50%−25%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
HIBS 62.6%SDOW 34.4%, better
Return per unit of riskSharpe ratio, 3 years
HIBS −1.40SDOW −1.22, better
Worst fallMax drawdown, 5 years
HIBS −98.8%SDOW −85.1%, better
Market sensitivityBeta, 5 years
HIBS −3.96SDOW −2.46

Popular comparisons

  • HIBSFvsSQQQA

    Direxion Daily S&P 500 High Beta Bear 3X ETF · ProShares UltraPro Short QQQ

    Expense ratio
    1.06% · 0.94%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • SDOWAvsSQQQA

    ProShares UltraPro Short Dow30 · ProShares UltraPro Short QQQ

    Expense ratio
    0.95% · 0.94%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • HIBSFvsSRTYA

    Direxion Daily S&P 500 High Beta Bear 3X ETF · ProShares UltraPro Short Russell2000

    Expense ratio
    1.06% · 0.95%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • SDOWAvsSRTYA

    ProShares UltraPro Short Dow30 · ProShares UltraPro Short Russell2000

    Expense ratio
    0.95% · 0.95%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • HIBSFvsTZAB

    Direxion Daily S&P 500 High Beta Bear 3X ETF · Direxion Daily Small Cap Bear 3X ETF

    Expense ratio
    1.06% · 0.99%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • SDOWAvsTZAB

    ProShares UltraPro Short Dow30 · Direxion Daily Small Cap Bear 3X ETF

    Expense ratio
    0.95% · 0.99%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.