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HIBS vs SQQQ

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

HIBSFNYSE Arca

ProShares UltraPro Short QQQ

SQQQANasdaq

Overlap

Expense ratio

SQQQ −0.12pt a year

HIBS1.06%SQQQ0.94%

Avg volume · 30D

SQQQ 232.2×the volume

HIBS215KSQQQ50M

5Y return · a year

SQQQ +9.2pt

HIBS−51.7%SQQQ−42.5%

HIBS vs SQQQ Performance

Oct 29, 2021 – Oct 30, 2026

−97.4%HIBS−93.7%SQQQ

Oct 29, 2021 to Oct 30, 2026. HIBS −97.4%. SQQQ −93.7%. Use the arrow keys to read each point.−50%0%50%Oct 2021Apr 2024Oct 2026
Expense ratio
HIBS 1.06%
SQQQ 0.94%, better
Fund size
HIBS $18M
SQQQ $2.04B
1Y total return
HIBS −59.4%
SQQQ −32.5%, better
Yield (12M)
HIBS 6.05%
SQQQ 7.78%, better
Holdings
HIBS 5
SQQQ 12
Avg volume (30D)
HIBS 215K sh
SQQQ 50M sh, better
NAV per share
HIBS $18.71
SQQQ $41.85
52W range

ETF.net Grade

HIBS: Cost 23, Risk 24, Mission not scored, Tradability 23, Holdings not scored, Durability 23. SQQQ: Cost 99, Risk 47, Mission 95, Tradability 92, Holdings 47, Durability 73.
Pillar letters and Scores for HIBS, SQQQ, with each pillar’s weight
PillarHIBSSQQQ
Cost30% weightF23A99Higher
Mission25% weightNot scoredA95
Risk15% weightF24C47Higher
Tradability15% weightF23A92Higher
Holdings10% weightNot scoredC47
Durability5% weightF23A73Higher

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 SQQQ 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 ›

SQQQ ranks 1st 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 11DEDZDirexion Daily MSCI Emerging Markets Bear 3X ETFScore 31
  4. Rank 12FHIBSDirexion Daily S&P 500 High Beta Bear 3X ETFScore 23
  5. 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

SQQQAProShares UltraPro Short QQQ

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.

SQQQ The workhorse of the short-Nasdaq trade. Running since 2010, it aims at three times the inverse of the Nasdaq-100's daily move, resets every session, and charges 0.94% a year, below the going rate in the 3x bear category.

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.

SQQQ The fund seeks daily investment results, before fees and expenses, equal to three times the inverse of the Nasdaq-100 Index’s daily performance.

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
  • SQQQ 0.94% a year with no waiver propping it up, and below what 3x bear peers charge: SDOW and SRTY each sit at 0.95% net of waivers through September 30, 2027.
  • One of the most actively traded funds in its category, with a billion-dollar-plus asset base behind it. Depth is the reason traders reach for this one.
  • ProShares has run this single-day mandate since February 2010, and it tracks its stated -3x daily target about as closely as anything in its peer group.proshares.com
  • The mandate is blunt and public: three times the inverse of the Nasdaq-100's daily performance, before fees, measured NAV to NAV. No discretion, no stock picking.sec.gov

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.
  • SQQQ Returns compound daily. Over any period longer than a single day, results will very likely differ from -3x the index, and the fund can lose money when the index is flat.sec.gov
  • It holds swaps and futures on the index, not shorted stocks, so counterparty exposure and financing costs ride along with the price.sec.gov
  • At 0.94%, the fee is heavy freight for a vehicle built around single-day results. Distributions, when declared, come quarterly.

Full HIBS profile⁠

Full SQQQ profile⁠

HIBS vs SQQQ 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 SQQQ Cost

Overpaying HIBS vs SQQQ

$1,951

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

  • HIBS 1.06%

    $19,655

  • SQQQ 0.94%

    $17,704

$10,000
30 years

Cost over time

  • HIBS 1.06%
  • SQQQ 0.94%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530HIBS $19,655SQQQ $17,704

Year by year

YearHIBSSQQQOverpaying
10$1,864$1,661$203
20$6,987$6,260$727
30$19,655$17,704$1,951

Expense ratio

  • 1.06%HIBS
  • 0.94%SQQQ, cheaper
  • Middle half of 3x Leveraged Inverse funds
  • Median 1.02%

SQQQ cheapest of 14 funds

HIBS 11th cheapest of 14 funds

HIBS vs SQQQ Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
HIBS 6.05%
SQQQ 7.78%, better
Payout (12M)
HIBS $1.30
SQQQ $3.25
Last payment
HIBS $0.22
SQQQ $0.47
Ex-dividend
HIBS Sep 22, 2026
SQQQ Sep 23, 2026
Paid on
HIBS Sep 29, 2026
SQQQ Sep 29, 2026
Frequency
HIBS Quarterly
SQQQ 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$2502017202020232026YTD
SQQQQuarterly · 26 paymentsAll SQQQ payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $15.09; Mar 21, 2018 $17.68; Jun 20, 2018 $20.64; Sep 26, 2018 $33.37; Dec 26, 2018 $257.26; Mar 20, 2019 $72.88; Jun 25, 2019 $152.59; Sep 25, 2019 $115.46; Dec 24, 2019 $67.50; Mar 25, 2020 $40.77; Dec 22, 2022 $3.78; Mar 22, 2023 $5.11; Jun 21, 2023 $6.66; Sep 20, 2023 $8.10; Dec 20, 2023 $7.07; Mar 20, 2024 $4.10; Jun 26, 2024 $4.01; Sep 25, 2024 $3.74; Dec 23, 2024 $4.08; Mar 26, 2025 $2.41; Jun 25, 2025 $1.28; Sep 24, 2025 $1.21; Dec 24, 2025 $1.51; Mar 25, 2026 $0.64; Jun 24, 2026 $0.64; Sep 23, 2026 $0.47. Use the arrow keys to read each point.$0$2502017202020232026YTD

HIBS vs SQQQ Risk

Fall from peak · 5 years

  • HIBS
  • SQQQ
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%SQQQ 48.2%, better
Return per unit of riskSharpe ratio, 3 years
HIBS −1.40, betterSQQQ −1.42
Worst fallMax drawdown, 5 years
HIBS −98.8%SQQQ −97.5%, better
Market sensitivityBeta, 5 years
HIBS −3.96SQQQ −3.43

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