HIBL vs TQQQ

HIBLDDirexion Daily S&P 500 High Beta Bull 3X ETF

TQQQAProShares UltraPro QQQ

In short

HIBL Most 3x funds lever a sector you can name. HIBL levers a factor: the 100 jumpiest stocks in the S&P 500, weighted by how hard they swing, then geared to 300% of that index's daily move.

TQQQ The original 3x Nasdaq-100 trade, live since 2010. Leverage resets every day, chasing three times the index's one-day move, and it is one of the most heavily traded names in its corner of the market.

Stated mandate

HIBL The fund seeks daily investment results equal to 300% of the performance of the S&P 500 High Beta Index, before fees and expenses. Its objective applies for a single day and is not intended to provide three times the index's cumulative return over longer periods.

TQQQ The fund seeks daily investment results, before fees and expenses, equal to three times the daily performance of the Nasdaq-100 Index.

Why people hold it

• HIBL S&P picks the 100 S&P 500 names with the highest beta over the past year and weights them by that beta, so the roster rotates as market sensitivity moves.sec.govspglobal.com
• 0.98% net of a waiver through September 1, 2027 (1.01% gross) sits near the 3x category median, though SOXL (0.75% net of a waiver through September 1, 2027) runs cheaper.
• The filings are blunt: the 300% target applies to one day only and is not meant to deliver 3x the index over longer stretches.direxion.com
• Trading since 2019, with a bear twin (HIBS) targeting -300% of the same index for the other side of the trade.direxion.com

• TQQQ Costs 0.78% net of a waiver through September 30, 2027 (0.94% gross), below the median fee for 3x bull funds and below stablemate UDOW at 0.94% with no waiver.
• A multi-billion-dollar fund and one of the busiest tickers in the leveraged space, which matters when a daily-reset position needs to be entered or exited quickly.
• Delivers its stated 3x daily target with close day-to-day fidelity, one of the stronger implementations among 3x bull funds.proshares.com
• Straightforward plumbing: it rebalances exposure to the Nasdaq-100 each day, raising it as the index rises and cutting it as the index falls.sec.gov

Worth knowing

• HIBL Leverage on leverage. A high-beta basket already swings harder than the S&P 500, and the daily reset means choppy stretches can grind returns down.sec.gov
• One of the smaller, less actively traded funds in the 3x lineup, so spreads and trading costs matter more than with the headline names.
• The reference index is a factor cut of the S&P 500, so it can behave quite differently from the index itself before any leverage is applied.spglobal.com

• TQQQ The prospectus is blunt: this seeks results for a single day only. Hold longer and compounding takes over, so multi-day results can land far from 3x the index move, especially in choppy tape.sec.gov
• Triple exposure cuts both ways. A rough day for the Nasdaq-100 hits roughly three times as hard here, which is why this scores as one of the riskier structures on our books.
• The fee break is contractual, not permanent. Should the waiver lapse after September 30, 2027, the cost reverts toward the 0.94% gross rate.

Full HIBL profile⁠

Full TQQQ profile⁠