PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
NUGT vs. HIBL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NUGT vs. HIBL

Last updated Jul 22, 2026
Documentation

NUGT (Direxion Daily Gold Miners Index Bull 2X ETF) and HIBL (Direxion Daily S&P 500 High Beta Bull 3X Shares) are both exchange-traded funds - NUGT is a Gold fund tracking the MarketVector Global Gold Miners Index (200%), while HIBL is a Leveraged Equities fund tracking the S&P 500 High Beta Index (300%). Both are passively managed. Over the past 5 years, NUGT returned 15.97%/yr vs 13.07%/yr for HIBL. At a 0.23 correlation, their price movements are largely independent. NUGT charges 1.13%/yr vs 1.12%/yr for HIBL.

Performance

NUGT vs. HIBL - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, NUGT achieves a -39.10% return, which is significantly lower than HIBL's 59.83% return.

NUGT

1D
9.53%
1M
-21.00%
6M
-57.23%
YTD
-39.10%
1Y
46.53%
3Y*
45.28%
5Y*
15.97%
10Y*
-14.12%
ALL TIME*
-33.85%

HIBL

1D
10.51%
1M
-19.93%
6M
50.26%
YTD
59.83%
1Y
119.45%
3Y*
38.71%
5Y*
13.07%
10Y*
—
ALL TIME*
17.86%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NUGT vs. HIBL - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
NUGT
Direxion Daily Gold Miners Index Bull 2X ETF		-39.10%425.05%2.89%2.60%-32.10%-26.31%-60.16%21.94%
HIBL
Direxion Daily S&P 500 High Beta Bull 3X Shares		59.83%60.38%-0.40%81.02%-68.24%129.14%-24.96%19.23%

Correlation

The correlation between NUGT and HIBL is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.40

Correlation (3Y)
Calculated over the trailing 3-year period

0.31

Correlation (5Y)
Calculated over the trailing 5-year period

0.29

Correlation (All Time)
Calculated using the full available price history since Nov 7, 2019

0.23

The correlation between NUGT and HIBL shifts across timeframes, from 0.23 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.

NUGT vs. HIBL - Sectors Allocation Comparison

Sectors
NUGT
HIBL

Basic Materials

100.0%
2.1%

Communication Services

-

2.1%

Consumer Cyclical

-

12.4%

Consumer Defensive

-

0.8%

Energy

-

0.2%

Financial Services

-

12.4%

Healthcare

-

5.6%

Industrials

-

15.8%

Real Estate

-

-

Technology

-

46.6%

Utilities

-

2.3%

Basic Materials

NUGT
100.0%
HIBL
2.1%

Communication Services

NUGT

-

HIBL
2.1%

Consumer Cyclical

NUGT

-

HIBL
12.4%

Consumer Defensive

NUGT

-

HIBL
0.8%

Energy

NUGT

-

HIBL
0.2%

Financial Services

NUGT

-

HIBL
12.4%

Healthcare

NUGT

-

HIBL
5.6%

Industrials

NUGT

-

HIBL
15.8%

Real Estate

NUGT

-

HIBL

-

Technology

NUGT

-

HIBL
46.6%

Utilities

NUGT

-

HIBL
2.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Direxion Daily Gold Miners Index Bull 2X ETF

Direxion Daily S&P 500 High Beta Bull 3X Shares

Often compared with NUGT:
NUGT vs. GDXUNUGT vs. UGLNUGT vs. JNUGNUGT vs. GLDNUGT vs. DUSTNUGT vs. SILNUGT vs. JDST
Often compared with HIBL:
HIBL vs. HIBSHIBL vs. WEBLHIBL vs. TPORHIBL vs. SPYHIBL vs. TQQQHIBL vs. SOXLHIBL vs. SBND

Return for Risk

NUGT vs. HIBL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NUGT
NUGT Risk / Return Rank: 2424
Overall Rank
NUGT Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
NUGT Sortino Ratio Rank: 2929
Sortino Ratio Rank
NUGT Omega Ratio Rank: 3131
Omega Ratio Rank
NUGT Calmar Ratio Rank: 2222
Calmar Ratio Rank
NUGT Martin Ratio Rank: 2020
Martin Ratio Rank
HIBL
HIBL Risk / Return Rank: 6969
Overall Rank
HIBL Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
HIBL Sortino Ratio Rank: 5656
Sortino Ratio Rank
HIBL Omega Ratio Rank: 5656
Omega Ratio Rank
HIBL Calmar Ratio Rank: 8888
Calmar Ratio Rank
HIBL Martin Ratio Rank: 8181
Martin Ratio Rank
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.

NUGT vs. HIBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) and Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL). 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.

NUGTHIBLDifference
Sharpe ratioReturn per unit of total volatility
0.49
1.56

-1.07

Sortino ratioReturn per unit of downside risk
1.22
2.05

-0.83

Omega ratioGain probability vs. loss probability

1.16

1.26

-0.10

Calmar ratioReturn relative to maximum drawdown

0.69

3.83

-3.13

Martin ratioReturn relative to average drawdown

1.47

11.56

-10.08

NUGT vs. HIBL - Sharpe Ratio Comparison

The current NUGT Sharpe Ratio is 0.49, which is lower than the HIBL Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of NUGT and HIBL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

NUGT vs. HIBL - Drawdown Comparison

The maximum NUGT drawdown since its inception was -99.97%, which is greater than HIBL's maximum drawdown of -88.27%. Use the drawdown chart below to compare losses from any high point for NUGT and HIBL.

Loading charts...

Drawdown Indicators

NUGTHIBLDifference

Max Drawdown

Largest peak-to-trough decline

-99.97%

-88.27%

-11.70%

Max Drawdown (1Y)

Largest decline over 1 year

-67.40%

-31.39%

-36.01%

Max Drawdown (3Y)

Largest decline over 3 years

-67.40%

-69.66%

+2.26%

Max Drawdown (5Y)

Largest decline over 5 years

-73.72%

-81.58%

+7.86%

Max Drawdown (10Y)

Largest decline over 10 years

-96.91%

—

—

Current Drawdown

Current decline from peak

-99.86%

-23.42%

-76.44%

Average Drawdown

Average peak-to-trough decline

-91.57%

-43.61%

-47.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

31.68%

10.38%

+21.30%

Volatility

NUGT vs. HIBL - Volatility Comparison

The current volatility for Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) is 24.61%, while Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL) has a volatility of 30.74%. This indicates that NUGT experiences smaller price fluctuations and is considered to be less risky than HIBL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

NUGTHIBLDifference

Volatility (1M)

Calculated over the trailing 1-month period

24.61%

30.74%

-6.13%

Volatility (6M)

Calculated over the trailing 6-month period

80.75%

64.08%

+16.67%

Volatility (1Y)

Calculated over the trailing 1-year period

95.76%

77.09%

+18.67%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

73.43%

83.45%

-10.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

87.54%

92.50%

-4.96%

NUGT vs. HIBL - Expense Ratio Comparison

NUGT has a 1.13% expense ratio, which is higher than HIBL's 1.12% expense ratio.

Dividends

NUGT vs. HIBL - Dividend Comparison

NUGT's dividend yield for the trailing twelve months is around 0.64%, less than HIBL's 1.42% yield.

PositionTTM20252024202320222021202020192018
HIBL
Direxion Daily S&P 500 High Beta Bull 3X Shares		1.42%2.43%0.82%0.69%0.00%0.06%0.19%0.19%0.00%
NUGT
Direxion Daily Gold Miners Index Bull 2X ETF		0.64%0.22%1.79%1.67%0.70%0.00%0.00%0.63%0.57%

Frequently Asked Questions

NUGT and HIBL have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HIBL has higher volatility (30.74%) compared to NUGT (24.61%). In terms of maximum drawdown, NUGT dropped -99.97% vs HIBL's -88.27%.

On 5-year performance, NUGT leads with 15.97% vs 13.07% for HIBL. On fees, HIBL is cheaper at 1.12% per year. On volatility, NUGT has been the lower-risk option at 24.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, NUGT has performed better with a 15.97% return vs 13.07%. 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 1.13% for NUGT.

HIBL has the higher dividend yield at 1.42%, compared with 0.64% for NUGT.

NUGT is categorized as Gold, while HIBL is Leveraged Equities. NUGT tracks MarketVector Global Gold Miners Index (200%), while HIBL tracks S&P 500 High Beta Index (300%). Their fees differ too: 1.13% for NUGT and 1.12% for HIBL.

HIBL currently has the higher Sharpe Ratio (1.56 vs 0.49), 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.

Portfolio Optimizer

Find the right allocation for NUGT and HIBL

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer