HIBL vs. TERG

Last updated Jun 5, 2026

HIBL (Direxion Daily S&P 500 High Beta Bull 3X Shares) and TERG (Leverage Shares 2X Long TER Daily ETF) are both Leveraged Equities funds. HIBL is passively managed, while TERG is actively managed. A 0.72 correlation means they provide meaningful diversification when combined. HIBL charges 1.12%/yr vs 0.75%/yr for TERG.

Performance

HIBL vs. TERG - 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 TER Daily ETF (TERG). 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 lower than TERG's 225.36% return.

HIBL

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

TERG

• 1D: -1.30%
• 1M: 23.46%
• YTD: 225.36%
• 6M: 202.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HIBL vs. TERG - Yearly Performance Comparison

	2026 (YTD)	2025
HIBL Direxion Daily S&P 500 High Beta Bull 3X Shares	95.37%	23.72%
TERG Leverage Shares 2X Long TER Daily ETF	225.36%	28.17%

Correlation

The correlation between HIBL and TERG is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	0.72

Return for Risk

HIBL vs. TERG — 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

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. TERG - 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 TER Daily ETF (TERG). 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	TERG	Difference
Sharpe ratio: Return per unit of total volatility	4.23	—	—
Sortino ratio: Return per unit of downside risk	3.59	—	—
Omega ratio: Gain probability vs. loss probability	1.46	—	—
Calmar ratio: Return relative to maximum drawdown	8.88	—	—
Martin ratio: Return relative to average drawdown	32.55	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HIBL	TERG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.23	—	—
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	9.47	-9.23

Drawdowns

HIBL vs. TERG - Drawdown Comparison

The maximum HIBL drawdown since its inception was -88.27%, which is greater than TERG's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for HIBL and TERG.

Drawdown Indicators

	HIBL	TERG	Difference
Max Drawdown Largest peak-to-trough decline	-88.27%	-49.52%	-38.75%
Max Drawdown (1Y) Largest decline over 1 year	-31.39%	—	—
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%	-17.07%	+14.37%
Average Drawdown Average peak-to-trough decline	-44.17%	-13.75%	-30.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.55%	—	—

Volatility

Volatility by Period

	HIBL	TERG	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.02%	—	—
Volatility (6M) Calculated over the trailing 6-month period	50.42%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	65.96%	138.78%	-72.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	82.15%	138.78%	-56.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.87%	138.78%	-46.91%

HIBL vs. TERG - Expense Ratio Comparison

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

Dividends

HIBL vs. TERG - Dividend Comparison

HIBL's dividend yield for the trailing twelve months is around 1.18%, while TERG has not paid dividends to shareholders.

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%
TERG Leverage Shares 2X Long TER Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HIBL and TERG in my portfolio?

HIBL and TERG have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HIBL or TERG?

On fees, TERG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HIBL or TERG?

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

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

HIBL has the higher dividend yield at 1.18%, compared with 0.00% for TERG.

What is the main difference between HIBL and TERG?

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