HIBS
Direxion Daily S&P 500 High Beta Bear 3X Shares
HIBS provides 3x daily inverse exposure to a beta-weighted index of 100 highest-beta stocks in the S&P 500.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
27.2 M
ASSETS UNDER MGMT
107 bp
EXPENSES
Fund Basics
| Fund sponsor | Rafferty Asset Management |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Nov 07, 2019 |
| Assets (mns) | $27 |
| Expense ratio | 107 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Derivatives-based | Yes |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Asset Allocation
Historical Performance
Standardized Performance (as of 07/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -57.6% | -63.6% | -49.1% | -53.2% | -63.8% | -- | -- | -67.4% |
| Dividend Yield | 0.5% | 1.2% | 2.0% | 1.6% | 0.7% | -- | -- | 0.6% |
| Total Returns | -57.1% | -62.4% | -47.1% | -51.6% | -63.1% | -- | -- | -66.8% | Ann. Volatility | 107.5% | 93.9% | 78.4% | 80.9% | 85.7% | -- | -- | 97.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | -8.78 | 5% |
| MSCI EAFE | -9.29 | 6% |
| MSCI Emg Mkts | -10.00 | 8% |
Liquidity Measures
| Avg. volume (000) | 790 |
| ADV traded (mns) | $6 |
| Turnover | 23.1% |
| Avg. Bid/Ask (% of price) | 0.12% |
Technical Indicators
| Recent close | $7.94 |
| 30d moving avg. | $8.21 |
| Annualized volatility | 633.3% |
| Relative strength (RSI) | 38 |
| Short interest | 4.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| HIBS (107 bp) Percentile rank | 97 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| HIBS | 107.0 | 12.4 | 119.4 |
| Peer Avg. | 48.9 | 19.6 | 68.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .