# HIBL (Direxion Daily S&P 500(R) High Beta Bull 3X ETF)

Direxion · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: HIBL returned −10.2% where its own daily promise gave −8.6%, 1.7 points short.

## Key facts

- HIBL, what SPHB did: −0.9%, as of Sep 30, 2026.
- HIBL, what 3 times a day gives: −8.6%, as of Sep 30, 2026.
- HIBL, what the fund returned: −10.2%, as of Sep 30, 2026.
- HIBL, the fund itself cost: −1.7 pts, as of Sep 30, 2026.
- HIBL, net assets: $78m (issuer page, as of Sep 30, 2026).
- HIBL, expense ratio: 0.98% (485BPOS XBRL, Feb 26, 2026).

## HIBL over each window to Sep 30, 2026

| Window | Fund | SPHB | +3x the move | Difference | SPHB moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +7.1% | +3.1% | +9.4% | −2.2 pts | 26% |
| 3 months | −10.2% | −0.9% | −2.8% | −7.4 pts | 28% |
| 6 months | +78.9% | +28.9% | +86.7% | −7.8 pts | 30% |
| 1 year | +90.5% | +38.1% | +114.2% | −23.6 pts | 27% |
| 3 years | +306.8% | +119.7% | not meaningful over this window | not meaningful over this window | 26% |
| Since launch | +221.4% | +273.0% | not meaningful over this window | not meaningful over this window | 32% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +3 times the daily move of SPHB, reset daily | ETFIQ |
| Multiple a holder actually got over the window | SPHB moved −0.9% over this window, too little to read a multiple from | ETFIQ |
| Underlying | SPHB | ETFIQ |
| Segment | broad index, US large cap | ETFIQ |
| Net assets | $78m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.98% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Nov 7, 2019 | ETFIQ |
| Underlying volatility over the window | 28% annualized | ETFIQ |

## Questions

### Did HIBL return +3 times SPHB?

Over the window to Sep 30, 2026, SPHB moved −0.9% and HIBL returned −10.2%. 3 times that move is −2.8%, so the fund came out 7.4 points short of it.

### Why does HIBL not return +3 times over a year?

Because it resets daily. HIBL aims at +3 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +3 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, HIBL, data as of Sep 30, 2026. https://etfiq.com/funds/hibl
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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