EURL vs. HIBL

Last updated Jun 13, 2026

EURL (Direxion Daily FTSE Europe Bull 3x Shares) and HIBL (Direxion Daily S&P 500 High Beta Bull 3X Shares) are both Leveraged Equities funds from Direxion - EURL tracks the FTSE Developed Europe Index (300%) while HIBL tracks the S&P 500 High Beta Index (300%). Both are passively managed. Over the past 5 years, EURL returned 5.43%/yr vs 10.57%/yr for HIBL. A 0.69 correlation means they provide meaningful diversification when combined. EURL charges 1.07%/yr vs 1.12%/yr for HIBL.

Performance

EURL vs. HIBL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily FTSE Europe Bull 3x Shares (EURL) 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, EURL achieves a 13.73% return, which is significantly lower than HIBL's 80.33% return.

EURL

• 1D: -0.06%
• 1M: 5.44%
• YTD: 13.73%
• 6M: 19.84%
• 1Y: 36.64%
• 3Y*: 31.61%
• 5Y*: 5.43%
• 10Y*: 11.27%

HIBL

• 1D: 4.55%
• 1M: 15.37%
• YTD: 80.33%
• 6M: 73.92%
• 1Y: 226.21%
• 3Y*: 49.52%
• 5Y*: 10.57%
• 10Y*: —

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

EURL vs. HIBL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EURL Direxion Daily FTSE Europe Bull 3x Shares	13.73%	105.85%	-11.42%	44.19%	-54.41%	46.59%	-23.19%	13.37%
HIBL Direxion Daily S&P 500 High Beta Bull 3X Shares	80.33%	60.38%	-0.40%	81.02%	-68.24%	129.14%	-24.96%	19.23%

Correlation

The correlation between EURL and HIBL is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019	0.69

The correlation between EURL and HIBL has been stable across timeframes, ranging from 0.65 to 0.70 - a consistent structural relationship.

EURL vs. HIBL - Sectors Allocation Comparison

Sectors	EURL	HIBL
Financial Services	23.0%	12.5%
Industrials	19.8%	11.7%
Healthcare	13.2%	2.9%
Consumer Defensive	8.2%	0.6%
Technology	7.9%	45.8%
Consumer Cyclical	7.2%	12.9%
Energy	5.7%	2.2%
Basic Materials	5.5%	4.6%
Utilities	4.8%	3.2%
Communication Services	3.3%	3.7%
Real Estate	1.6%	-

Return for Risk

EURL vs. HIBL — Risk / Return Rank

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

EURL

EURL Risk / Return Rank: 26
EURL Sharpe Ratio Rank: 24
EURL Sortino Ratio Rank: 27
EURL Omega Ratio Rank: 26
EURL Calmar Ratio Rank: 26
EURL Martin Ratio Rank: 28

HIBL

HIBL Risk / Return Rank: 88
HIBL Sharpe Ratio Rank: 94
HIBL Sortino Ratio Rank: 78
HIBL Omega Ratio Rank: 78
HIBL Calmar Ratio Rank: 95
HIBL Martin Ratio Rank: 95

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.

EURL vs. HIBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily FTSE Europe Bull 3x Shares (EURL) 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.

	EURL	HIBL	Difference
Sharpe ratio: Return per unit of total volatility	0.77	3.19	-2.42
Sortino ratio: Return per unit of downside risk	1.33	3.01	-1.68
Omega ratio: Gain probability vs. loss probability	1.16	1.40	-0.24
Calmar ratio: Return relative to maximum drawdown	1.11	7.25	-6.14
Martin ratio: Return relative to average drawdown	3.50	25.38	-21.88

EURL vs. HIBL - Sharpe Ratio Comparison

The current EURL Sharpe Ratio is 0.77, which is lower than the HIBL Sharpe Ratio of 3.19. The chart below compares the historical Sharpe Ratios of EURL 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.

Drawdowns

EURL vs. HIBL - Drawdown Comparison

The maximum EURL drawdown since its inception was -84.65%, roughly equal to the maximum HIBL drawdown of -88.27%. Use the drawdown chart below to compare losses from any high point for EURL and HIBL.

Drawdown Indicators

	EURL	HIBL	Difference
Max Drawdown Largest peak-to-trough decline	-84.65%	-88.27%	+3.62%
Max Drawdown (1Y) Largest decline over 1 year	-33.05%	-31.39%	-1.66%
Max Drawdown (3Y) Largest decline over 3 years	-38.81%	-69.66%	+30.85%
Max Drawdown (5Y) Largest decline over 5 years	-75.24%	-81.58%	+6.34%
Max Drawdown (10Y) Largest decline over 10 years	-84.65%	—	—
Current Drawdown Current decline from peak	-8.76%	-10.19%	+1.43%
Average Drawdown Average peak-to-trough decline	-36.91%	-44.05%	+7.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.56%	8.96%	+1.60%

Volatility

EURL vs. HIBL - Volatility Comparison

The current volatility for Direxion Daily FTSE Europe Bull 3x Shares (EURL) is 17.98%, while Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL) has a volatility of 34.70%. This indicates that EURL 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.

Volatility by Period

	EURL	HIBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.98%	34.70%	-16.72%
Volatility (6M) Calculated over the trailing 6-month period	40.51%	57.54%	-17.03%
Volatility (1Y) Calculated over the trailing 1-year period	48.09%	71.43%	-23.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.55%	83.04%	-29.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.82%	92.32%	-36.50%

EURL vs. HIBL - Expense Ratio Comparison

EURL has a 1.07% expense ratio, which is lower than HIBL's 1.12% expense ratio.

Dividends

EURL vs. HIBL - Dividend Comparison

EURL's dividend yield for the trailing twelve months is around 1.37%, more than HIBL's 1.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EURL Direxion Daily FTSE Europe Bull 3x Shares	1.37%	1.50%	3.51%	2.50%	1.80%	0.33%	0.41%	1.17%	3.07%	0.38%
HIBL Direxion Daily S&P 500 High Beta Bull 3X Shares	1.28%	2.43%	0.82%	0.69%	0.00%	0.06%	0.19%	0.19%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EURL and HIBL in my portfolio?

EURL and HIBL have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EURL or HIBL?

HIBL has higher volatility (34.70%) compared to EURL (17.98%). In terms of maximum drawdown, EURL dropped -84.65% vs HIBL's -88.27%.

Which ETF is better, EURL or HIBL?

On 5-year performance, HIBL leads with 10.57% vs 5.43% for EURL. On fees, EURL is cheaper at 1.07% per year. On volatility, EURL has been the lower-risk option at 17.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EURL or HIBL?

Over the 5-year period, HIBL has performed better with a 10.57% return vs 5.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EURL or HIBL?

EURL is cheaper with a 1.07% expense ratio, compared with 1.12% for HIBL.

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

EURL has the higher dividend yield at 1.37%, compared with 1.28% for HIBL.

What is the main difference between EURL and HIBL?

EURL tracks FTSE Developed Europe Index (300%), while HIBL tracks S&P 500 High Beta Index (300%). Their fees differ too: 1.07% for EURL and 1.12% for HIBL.

Which has better risk-adjusted returns?

HIBL currently has the higher Sharpe Ratio (3.19 vs 0.77), 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.