SPYM vs. HIBL

Last updated Jun 4, 2026

SPYM (State Street SPDR Portfolio S&P 500 ETF) and HIBL (Direxion Daily S&P 500 High Beta Bull 3X Shares) are both exchange-traded funds - SPYM is a S&P 500 fund tracking the S&P 500 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, SPYM returned 13.91%/yr vs 11.57%/yr for HIBL. Their correlation of 0.84 suggests significant overlap in exposure. SPYM charges 0.02%/yr vs 1.12%/yr for HIBL.

Performance

SPYM vs. HIBL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Portfolio S&P 500 ETF (SPYM) 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, SPYM achieves a 10.98% return, which is significantly lower than HIBL's 96.27% return.

SPYM

• 1D: -0.66%
• 1M: 5.06%
• YTD: 10.98%
• 6M: 10.98%
• 1Y: 28.09%
• 3Y*: 22.46%
• 5Y*: 13.91%
• 10Y*: 15.62%

HIBL

• 1D: -2.25%
• 1M: 38.56%
• YTD: 96.27%
• 6M: 98.56%
• 1Y: 279.13%
• 3Y*: 62.03%
• 5Y*: 11.57%
• 10Y*: —

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

SPYM vs. HIBL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SPYM State Street SPDR Portfolio S&P 500 ETF	10.98%	17.79%	25.00%	26.24%	-18.09%	28.78%	18.49%	5.14%
HIBL Direxion Daily S&P 500 High Beta Bull 3X Shares	96.27%	60.38%	-0.40%	81.02%	-68.24%	129.14%	-24.96%	21.45%

Correlation

The correlation between SPYM and HIBL is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019	0.84

The correlation between SPYM and HIBL has been stable across timeframes, ranging from 0.84 to 0.89 - a consistent structural relationship.

SPYM vs. HIBL - Sectors Allocation Comparison

Sectors	SPYM	HIBL
Technology	38.5%	45.8%
Financial Services	11.1%	12.5%
Communication Services	10.6%	3.7%
Consumer Cyclical	9.9%	12.9%
Healthcare	8.4%	2.9%
Industrials	7.6%	11.7%
Consumer Defensive	4.6%	0.6%
Energy	3.2%	2.2%
Utilities	2.5%	3.2%
Real Estate	1.8%	-
Basic Materials	1.7%	4.6%

Return for Risk

SPYM vs. HIBL — Risk / Return Rank

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

SPYM

SPYM Risk / Return Rank: 70
SPYM Sharpe Ratio Rank: 71
SPYM Sortino Ratio Rank: 70
SPYM Omega Ratio Rank: 71
SPYM Calmar Ratio Rank: 62
SPYM Martin Ratio Rank: 76

HIBL

HIBL Risk / Return Rank: 89
HIBL Sharpe Ratio Rank: 96
HIBL Sortino Ratio Rank: 80
HIBL Omega Ratio Rank: 77
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.

SPYM vs. HIBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio S&P 500 ETF (SPYM) 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.

	SPYM	HIBL	Difference
Sharpe ratio: Return per unit of total volatility	2.39	4.26	-1.87
Sortino ratio: Return per unit of downside risk	3.27	3.61	-0.34
Omega ratio: Gain probability vs. loss probability	1.44	1.47	-0.03
Calmar ratio: Return relative to maximum drawdown	3.17	8.96	-5.79
Martin ratio: Return relative to average drawdown	14.76	32.84	-18.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYM vs. HIBL - Sharpe Ratio Comparison

The current SPYM Sharpe Ratio is 2.39, which is lower than the HIBL Sharpe Ratio of 4.26. The chart below compares the historical Sharpe Ratios of SPYM 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

	SPYM	HIBL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	4.26	-1.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.14	+0.69
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.87	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.24	+0.37

Drawdowns

SPYM vs. HIBL - Drawdown Comparison

The maximum SPYM drawdown since its inception was -54.46%, smaller than the maximum HIBL drawdown of -88.27%. Use the drawdown chart below to compare losses from any high point for SPYM and HIBL.

Drawdown Indicators

	SPYM	HIBL	Difference
Max Drawdown Largest peak-to-trough decline	-54.46%	-88.27%	+33.81%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-31.39%	+22.49%
Max Drawdown (3Y) Largest decline over 3 years	-18.72%	-69.66%	+50.94%
Max Drawdown (5Y) Largest decline over 5 years	-24.48%	-81.58%	+57.10%
Max Drawdown (10Y) Largest decline over 10 years	-33.87%	—	—
Current Drawdown Current decline from peak	-0.66%	-2.25%	+1.59%
Average Drawdown Average peak-to-trough decline	-7.15%	-44.20%	+37.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	8.55%	-6.64%

Volatility

SPYM vs. HIBL - Volatility Comparison

The current volatility for State Street SPDR Portfolio S&P 500 ETF (SPYM) is 2.83%, while Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL) has a volatility of 21.25%. This indicates that SPYM 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

	SPYM	HIBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	21.25%	-18.42%
Volatility (6M) Calculated over the trailing 6-month period	8.90%	50.46%	-41.56%
Volatility (1Y) Calculated over the trailing 1-year period	11.80%	66.16%	-54.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.80%	82.16%	-65.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.00%	91.89%	-73.89%

SPYM vs. HIBL - Expense Ratio Comparison

SPYM has a 0.02% expense ratio, which is lower than HIBL's 1.12% expense ratio.

Dividends

SPYM vs. HIBL - Dividend Comparison

SPYM's dividend yield for the trailing twelve months is around 1.00%, less than HIBL's 1.18% 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	1.18%	2.43%	0.82%	0.69%	0.00%	0.06%	0.19%	0.19%	0.00%	0.00%	0.00%	0.00%
SPYM State Street SPDR Portfolio S&P 500 ETF	1.00%	1.13%	1.28%	1.44%	1.69%	1.25%	1.54%	1.79%	2.23%	1.75%	1.97%	1.98%

Frequently Asked Questions

Can I hold both SPYM and HIBL in my portfolio?

SPYM and HIBL have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPYM or HIBL?

HIBL has higher volatility (21.25%) compared to SPYM (2.83%). In terms of maximum drawdown, SPYM dropped -54.46% vs HIBL's -88.27%.

Which ETF is better, SPYM or HIBL?

On 5-year performance, SPYM leads with 13.91% vs 11.57% for HIBL. On fees, SPYM is cheaper at 0.02% per year. On volatility, SPYM has been the lower-risk option at 2.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYM or HIBL?

Over the 5-year period, SPYM has performed better with a 13.91% return vs 11.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYM or HIBL?

SPYM is cheaper with a 0.02% expense ratio, compared with 1.12% for HIBL.

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

HIBL has the higher dividend yield at 1.18%, compared with 1.00% for SPYM.

What is the main difference between SPYM and HIBL?

SPYM is categorized as S&P 500, while HIBL is Leveraged Equities. SPYM tracks S&P 500 Index, while HIBL tracks S&P 500 High Beta Index (300%). They also come from different issuers: State Street and Direxion. Their fees differ too: 0.02% for SPYM and 1.12% for HIBL.

Which has better risk-adjusted returns?

HIBL currently has the higher Sharpe Ratio (4.26 vs 2.39), 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.