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HIBS vs SRTY

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

HIBSFNYSE Arca

ProShares UltraPro Short Russell2000

SRTYANYSE Arca

Overlap

Expense ratio

SRTY −0.11pt a year

HIBS1.06%SRTY0.95%

Avg volume · 30D

SRTY 7.4×the volume

HIBS215KSRTY1.6M

5Y return · a year

SRTY +22.7pt

HIBS−51.7%SRTY−29.0%

HIBS vs SRTY Performance

Oct 29, 2021 – Oct 30, 2026

−97.4%HIBS−82.0%SRTY

Oct 29, 2021 to Oct 30, 2026. HIBS −97.4%. SRTY −82.0%. Use the arrow keys to read each point.−50%0%50%Oct 2021Apr 2024Oct 2026
Expense ratio
HIBS 1.06%
SRTY 0.95%, better
Fund size
HIBS $18M
SRTY $68M
1Y total return
HIBS −59.4%
SRTY −37.4%, better
Yield (12M)
HIBS 6.05%, better
SRTY 5.87%
Holdings
HIBS 5
SRTY 5
Avg volume (30D)
HIBS 215K sh
SRTY 1.6M sh, better
NAV per share
HIBS $18.71
SRTY $26.34
52W range

ETF.net Grade

HIBS: Cost 23, Risk 24, Mission not scored, Tradability 23, Holdings not scored, Durability 23. SRTY: Cost 84, Risk 53, Mission 83, Tradability 70, Holdings not scored, Durability 56.
Pillar letters and Scores for HIBS, SRTY, with each pillar’s weight
PillarHIBSSRTY
Cost30% weightF23A84Higher
Mission25% weightNot scoredA83
Risk15% weightF24C53Higher
Tradability15% weightF23A70Higher
Holdings10% weightNot scoredNot scored
Durability5% weightF23B56Higher

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 SRTY 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 ›

SRTY ranks 3rd 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 4BTZADirexion Daily Small Cap Bear 3X ETFScore 61
  5. Rank 11DEDZDirexion Daily MSCI Emerging Markets Bear 3X ETFScore 31
  6. Rank 12FHIBSDirexion Daily S&P 500 High Beta Bear 3X ETFScore 23
  7. 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

SRTYAProShares UltraPro Short Russell2000

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.

SRTY A one-day instrument by design: SRTY aims for three times the inverse of the Russell 2000's daily move, and it has been the ProShares small-cap bear since 2010.

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.

SRTY SRTY seeks daily investment results, before fees and expenses, equal to three times the inverse daily performance of the Russell 2000 Index.

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
  • SRTY 0.95% net of a waiver through September 30, 2027 (1.10% gross), which undercuts TZA at 0.99%, the only other 3x small-cap bear in the peer set, and sits below the category median.
  • The mechanism is plain: three times the inverse of the Russell 2000's daily performance, reset each day. That index covers roughly 2,000 of the smallest names in the Russell 3000.proshares.comfidelity.com
  • Listed since 2010 and actively traded, it rates as one of the stronger implementations in its bear-3x peer group.

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.
  • SRTY Daily reset means compounding. Hold past a single day and results can diverge widely from 3x the index's move over that stretch, especially through choppy markets.proshares.com
  • The fee steps toward the 1.10% gross rate if the waiver is not extended past September 30, 2027.
  • Small caps are the jumpier end of US equity, and a 3x inverse multiplies that daily swing in both directions.fidelity.com

Full HIBS profile⁠

Full SRTY profile⁠

HIBS vs SRTY 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 SRTY Cost

Overpaying HIBS vs SRTY

$1,786

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

  • HIBS 1.06%

    $19,655

  • SRTY 0.95%

    $17,869

$10,000
30 years

Cost over time

  • HIBS 1.06%
  • SRTY 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 $19,655SRTY $17,869

Year by year

YearHIBSSRTYOverpaying
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%SRTY, cheaper
  • Middle half of 3x Leveraged Inverse funds
  • Median 1.02%

SRTY 2nd cheapest of 14 funds

HIBS 11th cheapest of 14 funds

HIBS vs SRTY Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
HIBS 6.05%, better
SRTY 5.87%
Payout (12M)
HIBS $1.30
SRTY $1.55
Last payment
HIBS $0.22
SRTY $0.27
Ex-dividend
HIBS Sep 22, 2026
SRTY Sep 23, 2026
Paid on
HIBS Sep 29, 2026
SRTY Sep 29, 2026
Frequency
HIBS Quarterly
SRTY Quarterly

Distribution history

Per share, 2019 to 2026, same scale for both

HIBSQuarterly · 11 paymentsAll HIBS payments⁠
One bar per payment. 11 payments from 2019 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$50202020232026YTD
SRTYQuarterly · 10 paymentsAll SRTY payments⁠
One bar per payment. 10 payments from 2019 to 2026 YTD. Mar 20, 2024 $1.50; Jun 26, 2024 $1.99; Dec 23, 2024 $1.80; Mar 26, 2025 $0.89; Jun 25, 2025 $0.68; Sep 24, 2025 $0.63; Dec 24, 2025 $0.72; Mar 25, 2026 $0.27; Jun 24, 2026 $0.29; Sep 23, 2026 $0.27. Use the arrow keys to read each point.$0$50202020232026YTD

HIBS vs SRTY Risk

Fall from peak · 5 years

  • HIBS
  • SRTY
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%SRTY 54.0%, better
Return per unit of riskSharpe ratio, 3 years
HIBS −1.40SRTY −1.04, better
Worst fallMax drawdown, 5 years
HIBS −98.8%SRTY −92.8%, better
Market sensitivityBeta, 5 years
HIBS −3.96SRTY −3.24

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