HIBL vs. TQQQ

Last updated Aug 5, 2026

HIBL (Direxion Daily S&P 500 High Beta Bull 3X Shares) and TQQQ (ProShares UltraPro QQQ) are both Leveraged Equities funds - HIBL tracks the S&P 500 High Beta Index (300%) while TQQQ tracks the NASDAQ-100 Index (300%). Both are passively managed. Over the past 5 years, HIBL returned 12.81%/yr vs 17.84%/yr for TQQQ. Their 0.74 correlation means they have sometimes moved together and sometimes differently. HIBL charges 1.12%/yr vs 0.95%/yr for TQQQ.

Performance

HIBL vs. TQQQ - 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 ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HIBL achieves a 69.42% return, which is significantly higher than TQQQ's 42.48% return.

HIBL

• 1D: 11.65%
• 1M: -1.39%
• 6M: 54.23%
• YTD: 69.42%
• 1Y: 132.39%
• 3Y*: 45.26%
• 5Y*: 12.81%
• 10Y*: —
• ALL TIME*: 18.78%

TQQQ

• 1D: 10.09%
• 1M: 2.00%
• 6M: 43.02%
• YTD: 42.48%
• 1Y: 72.20%
• 3Y*: 55.55%
• 5Y*: 17.84%
• 10Y*: 40.86%
• ALL TIME*: 43.57%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HIBL Direxion Daily S&P 500 High Beta Bull 3X Shares	$5.68M	$6.03M	$6.52M
TQQQ ProShares UltraPro QQQ	$4.74B	$4.51B	$5.37B

HIBL vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HIBL Direxion Daily S&P 500 High Beta Bull 3X Shares	69.42%	60.38%	-0.40%	81.02%	-68.24%	129.14%	-24.96%	19.23%
TQQQ ProShares UltraPro QQQ	42.48%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	20.14%

Correlation

The correlation between HIBL and TQQQ is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (5Y) Shows whether the relationship held over a longer period.	0.87
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019	0.74

The correlation between HIBL and TQQQ shifts across timeframes, from 0.74 (all time) to 0.88 (1 year), reflecting how their relationship changes across market environments.

HIBL vs. TQQQ - Sectors Allocation Comparison

Sectors	HIBL	TQQQ
Technology	46.6%	53.8%
Industrials	15.8%	2.8%
Financial Services	12.4%	0.2%
Consumer Cyclical	12.4%	12.3%
Healthcare	5.6%	4.2%
Utilities	2.3%	1.4%
Basic Materials	2.1%	1.1%
Communication Services	2.1%	15.8%
Consumer Defensive	0.8%	7.7%
Energy	0.2%	0.6%
Real Estate	-	0.1%

Return for Risk

HIBL vs. TQQQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HIBL

HIBL Risk / Return Rank: 66
HIBL Sharpe Ratio Rank: 63
HIBL Sortino Ratio Rank: 55
HIBL Omega Ratio Rank: 54
HIBL Calmar Ratio Rank: 81
HIBL Martin Ratio Rank: 78

TQQQ

TQQQ Risk / Return Rank: 45
TQQQ Sharpe Ratio Rank: 44
TQQQ Sortino Ratio Rank: 44
TQQQ Omega Ratio Rank: 42
TQQQ Calmar Ratio Rank: 49
TQQQ Martin Ratio Rank: 44

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HIBL vs. TQQQ - 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 UltraPro QQQ (TQQQ). 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.

	HIBL	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.67	1.25	+0.42
Sortino ratio: Return per unit of downside risk	2.16	1.79	+0.36
Omega ratio: Gain probability vs. loss probability	1.27	1.22	+0.05
Calmar ratio: Return relative to maximum drawdown	3.32	1.96	+1.35
Martin ratio: Return relative to average drawdown	11.19	5.43	+5.76

HIBL vs. TQQQ - Sharpe Ratio Comparison

The current HIBL Sharpe Ratio is 1.67, which is higher than the TQQQ Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of HIBL and TQQQ, 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

HIBL vs. TQQQ - Drawdown Comparison

The maximum HIBL drawdown since its inception was -88.27%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for HIBL and TQQQ.

Drawdown Indicators

	HIBL	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-88.27%	-81.66%	-6.61%
Max Drawdown (1Y) Largest decline over 1 year	-40.14%	-36.97%	-3.17%
Max Drawdown (3Y) Largest decline over 3 years	-69.66%	-58.04%	-11.62%
Max Drawdown (5Y) Largest decline over 5 years	-81.58%	-81.66%	+0.08%
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	-18.82%	-14.02%	-4.80%
Average Drawdown Average peak-to-trough decline	-43.52%	-18.49%	-25.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.88%	13.34%	-1.46%

Volatility

HIBL vs. TQQQ - Volatility Comparison

Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL) has a higher volatility of 30.98% compared to ProShares UltraPro QQQ (TQQQ) at 22.54%. This indicates that HIBL's price experiences larger fluctuations and is considered to be riskier than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIBL	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	30.98%	22.54%	+8.44%
Volatility (6M) Calculated over the trailing 6-month period	66.45%	48.77%	+17.68%
Volatility (1Y) Calculated over the trailing 1-year period	79.70%	58.29%	+21.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.93%	68.25%	+15.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	92.64%	66.68%	+25.96%

HIBL vs. TQQQ - Expense Ratio Comparison

HIBL has a 1.12% expense ratio, which is higher than TQQQ's 0.95% expense ratio.

Dividends

HIBL vs. TQQQ - Dividend Comparison

HIBL's dividend yield for the trailing twelve months is around 1.34%, more than TQQQ's 0.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HIBL Direxion Daily S&P 500 High Beta Bull 3X Shares	1.34%	2.43%	0.82%	0.69%	0.00%	0.06%	0.19%	0.19%	0.00%	0.00%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.50%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both HIBL and TQQQ in my portfolio?

HIBL and TQQQ have a correlation of 0.88, 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 TQQQ?

HIBL has higher volatility (30.98%) compared to TQQQ (22.54%). In terms of maximum drawdown, HIBL dropped -88.27% vs TQQQ's -81.66%.

Which ETF is better, HIBL or TQQQ?

On 5-year performance, TQQQ leads with 17.84% vs 12.81% for HIBL. On fees, TQQQ is cheaper at 0.95% per year. On volatility, TQQQ has been the lower-risk option at 22.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HIBL or TQQQ?

Over the 5-year period, TQQQ has performed better with a 17.84% return vs 12.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HIBL or TQQQ?

TQQQ is cheaper with a 0.95% expense ratio, compared with 1.12% for HIBL.

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

HIBL has the higher dividend yield at 1.34%, compared with 0.50% for TQQQ.

What is the main difference between HIBL and TQQQ?

HIBL tracks S&P 500 High Beta Index (300%), while TQQQ tracks NASDAQ-100 Index (300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.12% for HIBL and 0.95% for TQQQ.

Which has better risk-adjusted returns?

HIBL currently has the higher Sharpe Ratio (1.67 vs 1.25), 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.