SPHQ vs. HIBL

Last updated Jun 3, 2026

SPHQ (Invesco S&P 500 Quality ETF) and HIBL (Direxion Daily S&P 500 High Beta Bull 3X Shares) are both exchange-traded funds - SPHQ is a S&P 500 fund tracking the S&P 500 Quality Index, 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, SPHQ returned 14.73%/yr vs 12.35%/yr for HIBL. A 0.78 correlation means they provide meaningful diversification when combined. SPHQ charges 0.15%/yr vs 1.12%/yr for HIBL.

Performance

SPHQ vs. HIBL - Performance Comparison

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

Returns By Period

In the year-to-date period, SPHQ achieves a 15.16% return, which is significantly lower than HIBL's 100.79% return.

SPHQ

• 1D: 1.26%
• 1M: 6.56%
• YTD: 15.16%
• 6M: 16.32%
• 1Y: 23.61%
• 3Y*: 22.29%
• 5Y*: 14.73%
• 10Y*: 14.98%

HIBL

• 1D: 5.48%
• 1M: 41.77%
• YTD: 100.79%
• 6M: 114.67%
• 1Y: 310.77%
• 3Y*: 63.26%
• 5Y*: 12.35%
• 10Y*: —

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

SPHQ vs. HIBL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SPHQ Invesco S&P 500 Quality ETF	15.16%	13.25%	25.44%	24.83%	-15.76%	28.03%	17.36%	5.91%
HIBL Direxion Daily S&P 500 High Beta Bull 3X Shares	100.79%	60.38%	-0.40%	81.02%	-68.24%	129.14%	-24.96%	21.45%

Correlation

The correlation between SPHQ and HIBL is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019	0.78

The correlation between SPHQ and HIBL has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

SPHQ vs. HIBL - Sectors Allocation Comparison

Sectors	SPHQ	HIBL
Technology	28.1%	45.8%
Industrials	24.3%	11.7%
Consumer Defensive	15.4%	0.6%
Financial Services	13.3%	12.5%
Healthcare	8.4%	2.9%
Consumer Cyclical	4.6%	12.9%
Basic Materials	2.2%	4.6%
Communication Services	2.0%	3.7%
Utilities	1.0%	3.2%
Energy	0.7%	2.2%
Real Estate	-	-

Return for Risk

SPHQ vs. HIBL — Risk / Return Rank

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

SPHQ

SPHQ Risk / Return Rank: 56
SPHQ Sharpe Ratio Rank: 54
SPHQ Sortino Ratio Rank: 57
SPHQ Omega Ratio Rank: 51
SPHQ Calmar Ratio Rank: 54
SPHQ Martin Ratio Rank: 63

HIBL

HIBL Risk / Return Rank: 91
HIBL Sharpe Ratio Rank: 97
HIBL Sortino Ratio Rank: 84
HIBL Omega Ratio Rank: 81
HIBL Calmar Ratio Rank: 97
HIBL Martin Ratio Rank: 96

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.

SPHQ vs. HIBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Quality ETF (SPHQ) 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.

	SPHQ	HIBL	Difference
Sharpe ratio Return per unit of total volatility	1.88	4.74	-2.86
Sortino ratio Return per unit of downside risk	2.73	3.80	-1.08
Omega ratio Gain probability vs. loss probability	1.32	1.49	-0.17
Calmar ratio Return relative to maximum drawdown	2.70	10.27	-7.58
Martin ratio Return relative to average drawdown	11.50	37.74	-26.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPHQ vs. HIBL - Sharpe Ratio Comparison

The current SPHQ Sharpe Ratio is 1.88, which is lower than the HIBL Sharpe Ratio of 4.74. The chart below compares the historical Sharpe Ratios of SPHQ 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.

Sharpe Ratios by Period

	SPHQ	HIBL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	4.74	-2.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	0.15	+0.75
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.25	+0.28

Drawdowns

SPHQ vs. HIBL - Drawdown Comparison

The maximum SPHQ drawdown since its inception was -57.83%, smaller than the maximum HIBL drawdown of -88.27%. Use the drawdown chart below to compare losses from any high point for SPHQ and HIBL.

Drawdown Indicators

	SPHQ	HIBL	Difference
Max Drawdown Largest peak-to-trough decline	-57.83%	-88.27%	+30.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-31.39%	+22.49%
Max Drawdown (3Y) Largest decline over 3 years	-16.57%	-69.66%	+53.09%
Max Drawdown (5Y) Largest decline over 5 years	-25.04%	-81.58%	+56.54%
Max Drawdown (10Y) Largest decline over 10 years	-31.60%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-10.70%	-44.22%	+33.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	8.54%	-6.46%

Volatility

SPHQ vs. HIBL - Volatility Comparison

The current volatility for Invesco S&P 500 Quality ETF (SPHQ) is 3.55%, while Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL) has a volatility of 20.94%. This indicates that SPHQ 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.

Volatility by Period

	SPHQ	HIBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.55%	20.94%	-17.39%
Volatility (6M) Calculated over the trailing 6-month period	10.20%	50.39%	-40.19%
Volatility (1Y) Calculated over the trailing 1-year period	12.62%	66.14%	-53.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.45%	82.16%	-65.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.87%	91.92%	-74.05%

SPHQ vs. HIBL - Expense Ratio Comparison

SPHQ has a 0.15% expense ratio, which is lower than HIBL's 1.12% expense ratio.

Dividends

SPHQ vs. HIBL - Dividend Comparison

SPHQ's dividend yield for the trailing twelve months is around 1.04%, less than HIBL's 1.15% 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	1.15%	2.43%	0.82%	0.69%	0.00%	0.06%	0.19%	0.19%	0.00%	0.00%	0.00%	0.00%
SPHQ Invesco S&P 500 Quality ETF	1.04%	1.09%	1.15%	1.42%	1.85%	1.19%	1.55%	1.51%	1.85%	1.57%	1.67%	2.29%

Frequently Asked Questions

Can I hold both SPHQ and HIBL in my portfolio?

SPHQ and HIBL have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPHQ or HIBL?

HIBL has higher volatility (20.94%) compared to SPHQ (3.55%). In terms of maximum drawdown, SPHQ dropped -57.83% vs HIBL's -88.27%.

Which ETF is better, SPHQ or HIBL?

On 5-year performance, SPHQ leads with 14.73% vs 12.35% for HIBL. On fees, SPHQ is cheaper at 0.15% per year. On volatility, SPHQ has been the lower-risk option at 3.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPHQ or HIBL?

Over the 5-year period, SPHQ has performed better with a 14.73% return vs 12.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPHQ or HIBL?

SPHQ is cheaper with a 0.15% expense ratio, compared with 1.12% for HIBL.

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

HIBL has the higher dividend yield at 1.15%, compared with 1.04% for SPHQ.

What is the main difference between SPHQ and HIBL?

SPHQ is categorized as S&P 500, while HIBL is Leveraged Equities. SPHQ tracks S&P 500 Quality Index, while HIBL tracks S&P 500 High Beta Index (300%). They also come from different issuers: Invesco and Direxion. Their fees differ too: 0.15% for SPHQ and 1.12% for HIBL.

Which has better risk-adjusted returns?

HIBL currently has the higher Sharpe Ratio (4.74 vs 1.88), 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.