HIBL vs. NVDG

Last updated Jun 5, 2026

HIBL (Direxion Daily S&P 500 High Beta Bull 3X Shares) and NVDG (Leverage Shares 2X Long NVDA Daily ETF) are both Leveraged Equities funds. HIBL is passively managed, while NVDG is actively managed. Over the past year, HIBL returned 276.75% vs 88.87% for NVDG. A 0.59 correlation means they provide meaningful diversification when combined. HIBL charges 1.12%/yr vs 0.75%/yr for NVDG.

Performance

HIBL vs. NVDG - Performance Comparison

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

Returns By Period

In the year-to-date period, HIBL achieves a 95.37% return, which is significantly higher than NVDG's 23.86% return.

HIBL

• 1D: -0.46%
• 1M: 31.17%
• YTD: 95.37%
• 6M: 95.99%
• 1Y: 276.75%
• 3Y*: 62.38%
• 5Y*: 11.47%
• 10Y*: —

NVDG

• 1D: 4.14%
• 1M: 21.48%
• YTD: 23.86%
• 6M: 26.22%
• 1Y: 88.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HIBL vs. NVDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HIBL Direxion Daily S&P 500 High Beta Bull 3X Shares	95.37%	60.38%	-15.03%
NVDG Leverage Shares 2X Long NVDA Daily ETF	23.86%	32.45%	-0.75%

Correlation

The correlation between HIBL and NVDG is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Dec 16, 2024	0.59

The correlation between HIBL and NVDG shifts across timeframes, from 0.46 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HIBL vs. NVDG — Risk / Return Rank

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

HIBL

HIBL Risk / Return Rank: 89
HIBL Sharpe Ratio Rank: 96
HIBL Sortino Ratio Rank: 81
HIBL Omega Ratio Rank: 79
HIBL Calmar Ratio Rank: 96
HIBL Martin Ratio Rank: 95

NVDG

NVDG Risk / Return Rank: 37
NVDG Sharpe Ratio Rank: 38
NVDG Sortino Ratio Rank: 38
NVDG Omega Ratio Rank: 36
NVDG Calmar Ratio Rank: 43
NVDG Martin Ratio Rank: 32

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.

HIBL vs. NVDG - 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 Leverage Shares 2X Long NVDA Daily ETF (NVDG). 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	NVDG	Difference
Sharpe ratio: Return per unit of total volatility	4.23	1.32	+2.91
Sortino ratio: Return per unit of downside risk	3.59	1.94	+1.65
Omega ratio: Gain probability vs. loss probability	1.46	1.23	+0.23
Calmar ratio: Return relative to maximum drawdown	8.88	2.09	+6.79
Martin ratio: Return relative to average drawdown	32.55	4.75	+27.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HIBL vs. NVDG - Sharpe Ratio Comparison

The current HIBL Sharpe Ratio is 4.23, which is higher than the NVDG Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of HIBL and NVDG, 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

	HIBL	NVDG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.23	1.32	+2.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.44	-0.20

Drawdowns

HIBL vs. NVDG - Drawdown Comparison

The maximum HIBL drawdown since its inception was -88.27%, which is greater than NVDG's maximum drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for HIBL and NVDG.

Drawdown Indicators

	HIBL	NVDG	Difference
Max Drawdown Largest peak-to-trough decline	-88.27%	-66.19%	-22.08%
Max Drawdown (1Y) Largest decline over 1 year	-31.39%	-42.72%	+11.33%
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	-2.70%	-14.96%	+12.26%
Average Drawdown Average peak-to-trough decline	-44.17%	-23.05%	-21.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.55%	18.79%	-10.24%

Volatility

HIBL vs. NVDG - Volatility Comparison

The current volatility for Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL) is 21.02%, while Leverage Shares 2X Long NVDA Daily ETF (NVDG) has a volatility of 25.17%. This indicates that HIBL experiences smaller price fluctuations and is considered to be less risky than NVDG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIBL	NVDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.02%	25.17%	-4.15%
Volatility (6M) Calculated over the trailing 6-month period	50.42%	50.28%	+0.14%
Volatility (1Y) Calculated over the trailing 1-year period	65.96%	67.73%	-1.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	82.15%	90.65%	-8.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.87%	90.65%	+1.22%

HIBL vs. NVDG - Expense Ratio Comparison

HIBL has a 1.12% expense ratio, which is higher than NVDG's 0.75% expense ratio.

Dividends

HIBL vs. NVDG - Dividend Comparison

HIBL's dividend yield for the trailing twelve months is around 1.18%, less than NVDG's 9.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
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%
NVDG Leverage Shares 2X Long NVDA Daily ETF	9.54%	11.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HIBL and NVDG in my portfolio?

HIBL and NVDG have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HIBL or NVDG?

NVDG has higher volatility (25.17%) compared to HIBL (21.02%). In terms of maximum drawdown, HIBL dropped -88.27% vs NVDG's -66.19%.

Which ETF is better, HIBL or NVDG?

On 1-year performance, HIBL leads with 276.75% vs 88.87% for NVDG. On fees, NVDG is cheaper at 0.75% per year. On volatility, HIBL has been the lower-risk option at 21.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HIBL or NVDG?

Over the 1-year period, HIBL has performed better with a 276.75% return vs 88.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HIBL or NVDG?

NVDG is cheaper with a 0.75% expense ratio, compared with 1.12% for HIBL.

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

NVDG has the higher dividend yield at 9.54%, compared with 1.18% for HIBL.

What is the main difference between HIBL and NVDG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.12% for HIBL and 0.75% for NVDG.

Which has better risk-adjusted returns?

HIBL currently has the higher Sharpe Ratio (4.23 vs 1.32), 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.