AMDL vs. HIBL

Last updated Jun 9, 2026

AMDL (GraniteShares 2x Long AMD Daily ETF) and HIBL (Direxion Daily S&P 500 High Beta Bull 3X Shares) are both Leveraged Equities funds. AMDL is actively managed, while HIBL is passively managed. Over the past year, AMDL returned 954.02% vs 220.73% for HIBL. A 0.65 correlation means they provide meaningful diversification when combined. AMDL charges 1.15%/yr vs 1.12%/yr for HIBL.

Performance

AMDL vs. HIBL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long AMD Daily ETF (AMDL) and Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMDL achieves a 296.53% return, which is significantly higher than HIBL's 70.47% return.

AMDL

• 1D: 9.87%
• 1M: 10.62%
• YTD: 296.53%
• 6M: 266.15%
• 1Y: 954.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HIBL

• 1D: 5.66%
• 1M: 5.92%
• YTD: 70.47%
• 6M: 66.00%
• 1Y: 220.73%
• 3Y*: 51.97%
• 5Y*: 9.19%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMDL vs. HIBL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AMDL GraniteShares 2x Long AMD Daily ETF	296.53%	103.00%	-69.97%
HIBL Direxion Daily S&P 500 High Beta Bull 3X Shares	70.47%	60.38%	0.41%

Correlation

The correlation between AMDL and HIBL is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (All Time) Calculated using the full available price history since Mar 18, 2024	0.65

The correlation between AMDL and HIBL has been stable across timeframes, ranging from 0.61 to 0.65 - a consistent structural relationship.

AMDL vs. HIBL - Sectors Allocation Comparison

Sectors	AMDL	HIBL
Technology	66.7%	45.8%
Basic Materials	-	4.6%
Communication Services	-	3.7%
Consumer Cyclical	-	12.9%
Consumer Defensive	-	0.6%
Energy	-	2.2%
Financial Services	-	12.5%
Healthcare	-	2.9%
Industrials	-	11.7%
Real Estate	-	-
Utilities	-	3.2%

Return for Risk

AMDL vs. HIBL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMDL

AMDL Risk / Return Rank: 96
AMDL Sharpe Ratio Rank: 99
AMDL Sortino Ratio Rank: 94
AMDL Omega Ratio Rank: 93
AMDL Calmar Ratio Rank: 99
AMDL Martin Ratio Rank: 96

HIBL

HIBL Risk / Return Rank: 87
HIBL Sharpe Ratio Rank: 94
HIBL Sortino Ratio Rank: 75
HIBL Omega Ratio Rank: 76
HIBL Calmar Ratio Rank: 95
HIBL Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMDL vs. HIBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long AMD Daily ETF (AMDL) and Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AMDL	HIBL	Difference
Sharpe ratio: Return per unit of total volatility	7.31	3.25	+4.07
Sortino ratio: Return per unit of downside risk	4.35	3.02	+1.33
Omega ratio: Gain probability vs. loss probability	1.58	1.40	+0.17
Calmar ratio: Return relative to maximum drawdown	17.17	7.08	+10.09
Martin ratio: Return relative to average drawdown	33.62	25.53	+8.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMDL vs. HIBL - Sharpe Ratio Comparison

The current AMDL Sharpe Ratio is 7.31, which is higher than the HIBL Sharpe Ratio of 3.25. The chart below compares the historical Sharpe Ratios of AMDL and HIBL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AMDL	HIBL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.31	3.25	+4.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.11	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.22	+0.20

Drawdowns

AMDL vs. HIBL - Drawdown Comparison

The maximum AMDL drawdown since its inception was -88.63%, roughly equal to the maximum HIBL drawdown of -88.27%. Use the drawdown chart below to compare losses from any high point for AMDL and HIBL.

Drawdown Indicators

	AMDL	HIBL	Difference
Max Drawdown Largest peak-to-trough decline	-88.63%	-88.27%	-0.36%
Max Drawdown (1Y) Largest decline over 1 year	-56.13%	-31.39%	-24.74%
Max Drawdown (3Y) Largest decline over 3 years	—	-69.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-81.58%	—
Current Drawdown Current decline from peak	-19.92%	-15.10%	-4.82%
Average Drawdown Average peak-to-trough decline	-48.42%	-44.14%	-4.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.61%	8.69%	+19.92%

Volatility

AMDL vs. HIBL - Volatility Comparison

GraniteShares 2x Long AMD Daily ETF (AMDL) has a higher volatility of 45.40% compared to Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL) at 28.76%. This indicates that AMDL's price experiences larger fluctuations and is considered to be riskier than HIBL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMDL	HIBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	45.40%	28.76%	+16.64%
Volatility (6M) Calculated over the trailing 6-month period	98.04%	54.14%	+43.90%
Volatility (1Y) Calculated over the trailing 1-year period	132.06%	68.58%	+63.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	117.50%	82.57%	+34.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	117.50%	92.09%	+25.41%

AMDL vs. HIBL - Expense Ratio Comparison

AMDL has a 1.15% expense ratio, which is higher than HIBL's 1.12% expense ratio.

Dividends

AMDL vs. HIBL - Dividend Comparison

AMDL has not paid dividends to shareholders, while HIBL's dividend yield for the trailing twelve months is around 1.36%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AMDL GraniteShares 2x Long AMD Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HIBL Direxion Daily S&P 500 High Beta Bull 3X Shares	1.36%	2.43%	0.82%	0.69%	0.00%	0.06%	0.19%	0.19%

Frequently Asked Questions

Can I hold both AMDL and HIBL in my portfolio?

AMDL and HIBL have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMDL or HIBL?

AMDL has higher volatility (45.40%) compared to HIBL (28.76%). In terms of maximum drawdown, AMDL dropped -88.63% vs HIBL's -88.27%.

Which ETF is better, AMDL or HIBL?

On 1-year performance, AMDL leads with 954.02% vs 220.73% for HIBL. On fees, HIBL is cheaper at 1.12% per year. On volatility, HIBL has been the lower-risk option at 28.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMDL or HIBL?

Over the 1-year period, AMDL has performed better with a 954.02% return vs 220.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMDL or HIBL?

HIBL is cheaper with a 1.12% expense ratio, compared with 1.15% for AMDL.

Which ETF pays a higher dividend yield, AMDL or HIBL?

HIBL has the higher dividend yield at 1.36%, compared with 0.00% for AMDL.

What is the main difference between AMDL and HIBL?

They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.15% for AMDL and 1.12% for HIBL.

Which has better risk-adjusted returns?

AMDL currently has the higher Sharpe Ratio (7.31 vs 3.25), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.