HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares
HIBS Fund Description
HIBS provides 3x daily inverse exposure to a beta-weighted index of 100 highest-beta stocks in the S&P 500.
HIBS Factset Analytics Insight
HIBS is passively-managed to select the top 100 stocks from the S&P 500 Index with the highest sensitivity to market movements (beta) over the past 12 months and weights each of them based on its calculated beta. The fund is designed to deliver 3x inverse exposure to those 100 highest-beta stocks, aiming to provide -300% of the index's return for a one-day period. To achieve its goal, the fund holds swaps, futures, short positions or other financial instruments that, in combination, produce inverse exposure to the index. HIBS gets the added exposure by using short-term financial instrument that are high quality. The index is reviewed and rebalanced quarterly. As a levered product, HIBS is not a buy-and-hold ETF, and should not be expected to provide returns greater than a one-day period.
HIBS Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of HIBS. HIBS is rated a N/A out of 5.