BOIL vs. HIBL
BOIL (ProShares Ultra Bloomberg Natural Gas) and HIBL (Direxion Daily S&P 500 High Beta Bull 3X Shares) are both exchange-traded funds - BOIL is a Oil & Gas fund tracking the Bloomberg Natural Gas Subindex, while HIBL is a Leveraged Equities fund tracking the S&P 500 High Beta Index (300%). Both are passively managed. Over the past 5 years, BOIL returned -68.58%/yr vs 13.57%/yr for HIBL. At a 0.04 correlation, their price movements are largely independent. BOIL charges 1.31%/yr vs 1.12%/yr for HIBL.
Performance
BOIL vs. HIBL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BOIL achieves a -51.97% return, which is significantly lower than HIBL's 53.82% return.
BOIL
- 1D
- -2.65%
- 1M
- -22.34%
- 6M
- -31.80%
- YTD
- -51.97%
- 1Y
- -77.53%
- 3Y*
- -66.23%
- 5Y*
- -68.58%
- 10Y*
- -58.64%
HIBL
- 1D
- -7.48%
- 1M
- -18.82%
- 6M
- 32.17%
- YTD
- 53.82%
- 1Y
- 120.18%
- 3Y*
- 35.26%
- 5Y*
- 13.57%
- 10Y*
- —
BOIL vs. HIBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | -51.97% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -44.55% |
HIBL Direxion Daily S&P 500 High Beta Bull 3X Shares | 53.82% | 60.38% | -0.40% | 81.02% | -68.24% | 129.14% | -24.96% | 19.23% |
Correlation
The correlation between BOIL and HIBL is -0.23, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019 | 0.04 |
The correlation between BOIL and HIBL shifts across timeframes, from -0.23 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BOIL vs. HIBL — Risk / Return Rank
BOIL
HIBL
BOIL vs. HIBL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Bloomberg Natural Gas (BOIL) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BOIL | HIBL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.28 | ||
| Sortino ratioReturn per unit of downside risk | -3.03 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.26 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 3.85 | -4.85 |
| Martin ratioReturn relative to average drawdown | -1.40 | 12.17 | -13.56 |
Loading charts...
Drawdowns
BOIL vs. HIBL - Drawdown Comparison
The maximum BOIL drawdown since its inception was -100.00%, which is greater than HIBL's maximum drawdown of -88.27%. Use the drawdown chart below to compare losses from any high point for BOIL and HIBL.
Loading charts...
Drawdown Indicators
| BOIL | HIBL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -88.27% | -11.73% |
Max Drawdown (1Y)Largest decline over 1 year | -77.83% | -31.39% | -46.44% |
Max Drawdown (3Y)Largest decline over 3 years | -97.17% | -69.66% | -27.51% |
Max Drawdown (5Y)Largest decline over 5 years | -99.92% | -81.58% | -18.34% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -26.30% | -73.70% |
Average DrawdownAverage peak-to-trough decline | -93.61% | -43.63% | -49.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 55.55% | 9.92% | +45.63% |
Volatility
BOIL vs. HIBL - Volatility Comparison
The current volatility for ProShares Ultra Bloomberg Natural Gas (BOIL) is 19.67%, while Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL) has a volatility of 29.86%. This indicates that BOIL experiences smaller price fluctuations and is considered to be less risky than HIBL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BOIL | HIBL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.67% | 29.86% | -10.19% |
Volatility (6M)Calculated over the trailing 6-month period | 100.26% | 63.21% | +37.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 111.81% | 76.34% | +35.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 119.02% | 83.61% | +35.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.73% | 92.48% | +9.25% |
BOIL vs. HIBL - Expense Ratio Comparison
BOIL has a 1.31% expense ratio, which is higher than HIBL's 1.12% expense ratio.
Dividends
BOIL vs. HIBL - Dividend Comparison
BOIL has not paid dividends to shareholders, while HIBL's dividend yield for the trailing twelve months is around 1.47%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | 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 | 1.47% | 2.43% | 0.82% | 0.69% | 0.00% | 0.06% | 0.19% | 0.19% |
Frequently Asked Questions
BOIL and HIBL have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIBL has higher volatility (29.86%) compared to BOIL (19.67%). In terms of maximum drawdown, BOIL dropped -100.00% vs HIBL's -88.27%.
On 5-year performance, HIBL leads with 13.57% vs -68.58% for BOIL. On fees, HIBL is cheaper at 1.12% per year. On volatility, BOIL has been the lower-risk option at 19.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HIBL has performed better with a 13.57% return vs -68.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HIBL is cheaper with a 1.12% expense ratio, compared with 1.31% for BOIL.
HIBL has the higher dividend yield at 1.47%, compared with 0.00% for BOIL.
BOIL is categorized as Oil & Gas, while HIBL is Leveraged Equities. BOIL tracks Bloomberg Natural Gas Subindex, while HIBL tracks S&P 500 High Beta Index (300%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 1.31% for BOIL and 1.12% for HIBL.
HIBL currently has the higher Sharpe Ratio (1.58 vs -0.69), 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.
Find the right allocation for BOIL and HIBL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer