HIBL vs. BOIL
HIBL (Direxion Daily S&P 500 High Beta Bull 3X Shares) and BOIL (ProShares Ultra Bloomberg Natural Gas) are both exchange-traded funds - HIBL is a Leveraged Equities fund tracking the S&P 500 High Beta Index (300%), while BOIL is a Leveraged Commodities fund tracking the Bloomberg Natural Gas Subindex. Both are passively managed. Over the past 5 years, HIBL returned 11.57%/yr vs -64.63%/yr for BOIL. At a 0.04 correlation, their price movements are largely independent. HIBL charges 1.12%/yr vs 1.31%/yr for BOIL.
Performance
HIBL vs. BOIL - Performance Comparison
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Returns By Period
In the year-to-date period, HIBL achieves a 96.27% return, which is significantly higher than BOIL's -36.77% return.
HIBL
- 1D
- -2.25%
- 1M
- 38.56%
- YTD
- 96.27%
- 6M
- 98.56%
- 1Y
- 279.13%
- 3Y*
- 62.03%
- 5Y*
- 11.57%
- 10Y*
- —
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 vs. BOIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% |
BOIL ProShares Ultra Bloomberg Natural Gas | -36.77% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -43.19% |
Correlation
The correlation between HIBL and BOIL 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 HIBL and BOIL 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
HIBL vs. BOIL — Risk / Return Rank
HIBL
BOIL
HIBL vs. BOIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL) and ProShares Ultra Bloomberg Natural Gas (BOIL). 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.
| HIBL | BOIL | 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 | 1.47 | 0.90 | +0.57 |
| Calmar ratioReturn relative to maximum drawdown | 8.96 | -0.92 | +9.88 |
| Martin ratioReturn relative to average drawdown | 32.84 | -1.26 | +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
| HIBL | BOIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.26 | -0.66 | +4.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | -0.55 | +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 | 0.24 | -0.61 | +0.86 |
Drawdowns
HIBL vs. BOIL - Drawdown Comparison
The maximum HIBL drawdown since its inception was -88.27%, smaller than the maximum BOIL drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for HIBL and BOIL.
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Drawdown Indicators
| HIBL | BOIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.27% | -100.00% | +11.73% |
Max Drawdown (1Y)Largest decline over 1 year | -31.39% | -80.85% | +49.46% |
Max Drawdown (3Y)Largest decline over 3 years | -69.66% | -96.86% | +27.20% |
Max Drawdown (5Y)Largest decline over 5 years | -81.58% | -99.91% | +18.33% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.99% | — |
Current DrawdownCurrent decline from peak | -2.25% | -100.00% | +97.75% |
Average DrawdownAverage peak-to-trough decline | -44.20% | -93.59% | +49.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.55% | 59.20% | -50.65% |
Volatility
HIBL vs. BOIL - Volatility Comparison
The current volatility for Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL) is 21.25%, while ProShares Ultra Bloomberg Natural Gas (BOIL) has a volatility of 23.95%. This indicates that HIBL experiences smaller price fluctuations and is considered to be less risky than BOIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIBL | BOIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.25% | 23.95% | -2.70% |
Volatility (6M)Calculated over the trailing 6-month period | 50.46% | 107.61% | -57.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.16% | 113.64% | -47.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.16% | 118.89% | -36.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 91.89% | 101.81% | -9.92% |
HIBL vs. BOIL - Expense Ratio Comparison
HIBL has a 1.12% expense ratio, which is lower than BOIL's 1.31% expense ratio.
Dividends
HIBL vs. BOIL - Dividend Comparison
HIBL's dividend yield for the trailing twelve months is around 1.18%, while BOIL has not paid dividends to shareholders.
| 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
HIBL and BOIL 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, HIBL dropped -88.27% vs BOIL's -100.00%.
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.
HIBL is categorized as Leveraged Equities, while BOIL is Leveraged Commodities. HIBL tracks S&P 500 High Beta Index (300%), while BOIL tracks Bloomberg Natural Gas Subindex. They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.12% for HIBL and 1.31% for BOIL.
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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