HIBS vs. BOIL
HIBS (Direxion Daily S&P 500 High Beta Bear 3X Shares) and BOIL (ProShares Ultra Bloomberg Natural Gas) are both exchange-traded funds - HIBS is a Inverse Equities fund tracking the S&P 500® High Beta Index, while BOIL is a Leveraged Commodities fund tracking the Bloomberg Natural Gas Subindex. Both are passively managed. Over the past 5 years, HIBS returned -53.41%/yr vs -64.16%/yr for BOIL. At a correlation of -0.04, they often move in opposite directions. HIBS charges 1.06%/yr vs 1.31%/yr for BOIL.
Performance
HIBS vs. BOIL - Performance Comparison
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Returns By Period
In the year-to-date period, HIBS achieves a -59.26% return, which is significantly lower than BOIL's -32.49% return.
HIBS
- 1D
- 0.59%
- 1M
- -26.80%
- YTD
- -59.26%
- 6M
- -59.84%
- 1Y
- -82.21%
- 3Y*
- -63.10%
- 5Y*
- -53.41%
- 10Y*
- —
BOIL
- 1D
- 6.77%
- 1M
- 18.20%
- YTD
- -32.49%
- 6M
- -61.46%
- 1Y
- -72.39%
- 3Y*
- -60.66%
- 5Y*
- -64.16%
- 10Y*
- -56.88%
HIBS vs. BOIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | -59.26% | -72.44% | -26.60% | -62.94% | -7.59% | -75.27% | -91.59% | -19.45% |
BOIL ProShares Ultra Bloomberg Natural Gas | -32.49% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -43.19% |
Correlation
The correlation between HIBS and BOIL is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
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 HIBS and BOIL shifts across timeframes, from -0.04 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HIBS vs. BOIL — Risk / Return Rank
HIBS
BOIL
HIBS vs. BOIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) 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.
| HIBS | BOIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -2.22 | ||
| Omega ratioGain probability vs. loss probability | 0.70 | 0.91 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | -0.90 | -0.09 |
| Martin ratioReturn relative to average drawdown | -1.50 | -1.22 | -0.29 |
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
| HIBS | BOIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.22 | -0.64 | -0.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.65 | -0.54 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.56 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.73 | -0.61 | -0.12 |
Drawdowns
HIBS vs. BOIL - Drawdown Comparison
The maximum HIBS drawdown since its inception was -99.98%, roughly equal to the maximum BOIL drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for HIBS and BOIL.
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Drawdown Indicators
| HIBS | BOIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -100.00% | +0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -83.13% | -80.85% | -2.28% |
Max Drawdown (3Y)Largest decline over 3 years | -96.48% | -96.86% | +0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -98.52% | -99.91% | +1.39% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.99% | — |
Current DrawdownCurrent decline from peak | -99.98% | -100.00% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -93.14% | -93.59% | +0.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 54.63% | 59.39% | -4.76% |
Volatility
HIBS vs. BOIL - Volatility Comparison
The current volatility for Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) is 22.04%, while ProShares Ultra Bloomberg Natural Gas (BOIL) has a volatility of 23.92%. This indicates that HIBS 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
| HIBS | BOIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.04% | 23.92% | -1.88% |
Volatility (6M)Calculated over the trailing 6-month period | 52.82% | 107.82% | -55.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.45% | 113.86% | -46.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.46% | 118.93% | -36.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 94.78% | 101.81% | -7.03% |
HIBS vs. BOIL - Expense Ratio Comparison
HIBS has a 1.06% expense ratio, which is lower than BOIL's 1.31% expense ratio.
Dividends
HIBS vs. BOIL - Dividend Comparison
HIBS's dividend yield for the trailing twelve months is around 11.62%, 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% |
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares | 11.62% | 8.42% | 5.34% | 6.49% | 0.04% | 0.00% | 0.92% | 0.13% |
Frequently Asked Questions
HIBS 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 (23.92%) compared to HIBS (22.04%). In terms of maximum drawdown, HIBS dropped -99.98% vs BOIL's -100.00%.
On 5-year performance, HIBS leads with -53.41% vs -64.16% for BOIL. On fees, HIBS is cheaper at 1.06% per year. On volatility, HIBS has been the lower-risk option at 22.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HIBS has performed better with a -53.41% return vs -64.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HIBS is cheaper with a 1.06% expense ratio, compared with 1.31% for BOIL.
HIBS has the higher dividend yield at 11.62%, compared with 0.00% for BOIL.
HIBS is categorized as Inverse Equities, while BOIL is Leveraged Commodities. HIBS tracks S&P 500® High Beta Index, while BOIL tracks Bloomberg Natural Gas Subindex. They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.06% for HIBS and 1.31% for BOIL.
BOIL currently has the higher Sharpe Ratio (-0.64 vs -1.22), 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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