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 Leveraged Commodities 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 -64.63%/yr vs 11.57%/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
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Returns By Period
In the year-to-date period, BOIL achieves a -36.77% return, which is significantly lower than HIBL's 96.27% return.
BOIL
- 1D
- 4.32%
- 1M
- 4.62%
- YTD
- -36.77%
- 6M
- -62.98%
- 1Y
- -74.31%
- 3Y*
- -60.61%
- 5Y*
- -64.63%
- 10Y*
- -56.95%
HIBL
- 1D
- -2.25%
- 1M
- 38.56%
- YTD
- 96.27%
- 6M
- 98.56%
- 1Y
- 279.13%
- 3Y*
- 62.03%
- 5Y*
- 11.57%
- 10Y*
- —
BOIL vs. HIBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | -36.77% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -43.19% |
HIBL Direxion Daily S&P 500 High Beta Bull 3X Shares | 96.27% | 60.38% | -0.40% | 81.02% | -68.24% | 129.14% | -24.96% | 21.45% |
Correlation
The correlation between BOIL and HIBL is -0.25, 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 | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019 | 0.04 |
The correlation between BOIL and HIBL shifts across timeframes, from -0.25 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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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.
| BOIL | HIBL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.92 | ||
| Sortino ratioReturn per unit of downside risk | -4.39 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.47 | -0.57 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 8.96 | -9.88 |
| Martin ratioReturn relative to average drawdown | -1.26 | 32.84 | -34.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BOIL | HIBL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.66 | 4.26 | -4.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.55 | 0.14 | -0.69 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.56 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.61 | 0.24 | -0.86 |
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.
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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 | -80.85% | -31.39% | -49.46% |
Max Drawdown (3Y)Largest decline over 3 years | -96.86% | -69.66% | -27.20% |
Max Drawdown (5Y)Largest decline over 5 years | -99.91% | -81.58% | -18.33% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -2.25% | -97.75% |
Average DrawdownAverage peak-to-trough decline | -93.59% | -44.20% | -49.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 59.20% | 8.55% | +50.65% |
Volatility
BOIL vs. HIBL - Volatility Comparison
ProShares Ultra Bloomberg Natural Gas (BOIL) has a higher volatility of 23.95% compared to Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL) at 21.25%. This indicates that BOIL'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.
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Volatility by Period
| BOIL | HIBL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.95% | 21.25% | +2.70% |
Volatility (6M)Calculated over the trailing 6-month period | 107.61% | 50.46% | +57.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 113.64% | 66.16% | +47.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 118.89% | 82.16% | +36.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.81% | 91.89% | +9.92% |
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 1.18%.
| 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 | 1.18% | 2.43% | 0.82% | 0.69% | 0.00% | 0.06% | 0.19% | 0.19% |
Frequently Asked Questions
BOIL and HIBL have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BOIL has higher volatility (23.95%) compared to HIBL (21.25%). In terms of maximum drawdown, BOIL dropped -100.00% vs HIBL's -88.27%.
On 5-year performance, HIBL leads with 11.57% vs -64.63% for BOIL. On fees, HIBL is cheaper at 1.12% per year. On volatility, HIBL has been the lower-risk option at 21.25%. 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 11.57% return vs -64.63%. 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 1.18%, compared with 0.00% for BOIL.
BOIL is categorized as Leveraged Commodities, 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 (4.26 vs -0.66), 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.
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