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HIBL vs UDOW

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

HIBLDNYSE Arca

ProShares UltraPro Dow30

UDOWANYSE Arca

Overlap

Expense ratio

UDOW −0.04pt a year

HIBL0.98%UDOW0.94%

Avg volume · 30D

UDOW 33.1×the volume

HIBL54.5KUDOW1.8M

5Y return · a year

UDOW +12.7pt

HIBL−2.3%UDOW+10.4%

HIBL vs UDOW Performance

Nov 9, 2021 – Nov 9, 2026

−11.0%HIBL+63.8%UDOW

Nov 9, 2021 to Nov 9, 2026. HIBL −11.0%. UDOW +63.8%. Use the arrow keys to read each point.−75%−50%25%Nov 2021May 2024Nov 2026
Expense ratio
HIBL 0.98%
UDOW 0.94%, better
Fund size
HIBL $57M
UDOW $810M
1Y total return
HIBL +22.3%
UDOW +23.7%, better
Yield (12M)
HIBL 2.02%, better
UDOW 1.03%
Holdings
HIBL 107
UDOW 33
Avg volume (30D)
HIBL 54.5K sh
UDOW 1.8M sh, better
NAV per share
HIBL $62.86
UDOW $63.06
52W range

ETF.net Grade

HIBL: Cost 38, Risk 31, Mission not scored, Tradability 26, Holdings not scored, Durability 30. UDOW: Cost 78, Risk 78, Mission 84, Tradability 90, Holdings 44, Durability 72.
Pillar letters and Scores for HIBL, UDOW, with each pillar’s weight
PillarHIBLUDOW
Cost30% weightD38A78Higher
Mission25% weightNot scoredA84
Risk15% weightD31A78Higher
Tradability15% weightD26A90Higher
Holdings10% weightNot scoredC44
Durability5% weightD30A72Higher

Rank among 3x Leveraged Long funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. HIBL and UDOW are both graded against the same 30 3x Leveraged Long funds, so their Grades compare head to head.

3x Leveraged Long⁠

Category · 30 funds
See all 30 ›

UDOW ranks 2nd and HIBL 23rd of 30 funds in the 3x Leveraged Long Category.

  1. Rank 1ATQQQProShares UltraPro QQQScore 83
  2. Rank 2AFASDirexion Daily Financial Bull 3X ETFScore 80
  3. Rank 2AUDOWProShares UltraPro Dow30Score 80
  4. Rank 4ATMFDirexion Daily 20+ Year Treasury Bull 3X ETFScore 75
  5. Rank 22DEURLDirexion Daily FTSE Europe Bull 3X ETFScore 36
  6. Rank 23DHIBLDirexion Daily S&P 500 High Beta Bull 3X ETFScore 33
  7. Rank 23DTYDDirexion Daily 7-10 Year Treasury Bull 3X ETFScore 33

Our read on each fund

ETF.net Research

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

UDOWAProShares UltraPro Dow30

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.

UDOW The only 3x daily play on the Dow: 30 blue-chip names, price-weighted, reset every session. It is the industrial cousin of the semis-and-Nasdaq crowd that fills the leveraged aisle, and it has run since 2010.

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.

UDOW The Fund seeks daily results equal to three times the daily performance of the Dow Jones Industrial Average before fees and expenses. It uses equity securities, derivatives, and money-market instruments to pursue that daily leveraged exposure.

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
  • UDOW ProShares calls UDOW the only ETF targeting 3x the daily move of the Dow. In a 3x aisle crowded with semiconductor and Nasdaq bets, the blue-chip index has exactly one lever.proshares.com
  • The Dow is a price-weighted measure of 30 US blue chips, so the exposure leans industrials, financials and health care instead of megacap tech.spglobal.com
  • Trading since 2010, it has run through several full market cycles and stays actively traded, which matters when the holding period is hours rather than years.
  • Among the stronger implementations in its 3x bull peer group, it stays close to its stated daily target and trades with the depth short-horizon traders look for.

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
  • UDOW The 3x target resets every day. Over longer stretches, compounding and volatility can push results away from 3x the index move, as the prospectus spells out.proshares.com
  • At 0.94% with no waiver propping it up, cost sits near the typical 3x bull fund; TQQQ charges 0.78% net of a waiver through September 30, 2027.
  • Exposure is built with derivatives and cash instruments alongside stocks, so counterparty and derivative risk ride along with the market call.proshares.com

Full HIBL profile⁠

Full UDOW profile⁠

HIBL vs UDOW Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

HIBL vs UDOW Cost

Overpaying HIBL vs UDOW

$658

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • HIBL 0.98%

    $18,362

  • UDOW 0.94%

    $17,704

$10,000
30 years

Cost over time

  • HIBL 0.98%
  • UDOW 0.94%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530HIBL $18,362UDOW $17,704

Year by year

YearHIBLUDOWOverpaying
10$1,729$1,661$68
20$6,504$6,260$244
30$18,362$17,704$658

Expense ratio

  • 0.98%HIBL
  • 0.94%UDOW, cheaper
  • Middle half of 3x Leveraged Long funds
  • Median 0.96%

UDOW 7th cheapest of 30 funds

HIBL 18th cheapest of 30 funds

HIBL vs UDOW Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
HIBL 2.02%, better
UDOW 1.03%
Payout (12M)
HIBL $1.49
UDOW $0.69
Last payment
HIBL $0.07
UDOW $0.15
Ex-dividend
HIBL Jun 23, 2026
UDOW Sep 23, 2026
Paid on
HIBL Jun 30, 2026
UDOW Sep 29, 2026
Frequency
HIBL Twice a year
UDOW Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

HIBLTwice a year · 15 paymentsAll HIBL payments⁠
One bar per payment. 15 payments from 2017 to 2026 YTD. Dec 23, 2019 $0.08; Mar 24, 2020 $0.06; Mar 23, 2021 $0.0064; Jun 22, 2021 $0.04; Mar 21, 2023 $0.04; Jun 21, 2023 $0.07; Sep 19, 2023 $0.07; Dec 21, 2023 $0.11; Mar 19, 2024 $0.15; Jun 25, 2024 $0.12; Sep 24, 2024 $0.07; Mar 25, 2025 $0.08; Jun 24, 2025 $0.11; Dec 10, 2025 $1.41; Jun 23, 2026 $0.07. Use the arrow keys to read each point.$0$12017202020232026YTD
UDOWQuarterly · 15 paymentsAll UDOW payments⁠
One bar per payment. 15 payments from 2017 to 2026 YTD. Mar 22, 2017 $0.007; Dec 26, 2017 $0.02; Dec 24, 2019 $0.07; Dec 23, 2020 $0.03; Dec 22, 2022 $0.09; Mar 20, 2024 $0.07; Jun 26, 2024 $0.16; Dec 23, 2024 $0.07; Mar 26, 2025 $0.16; Jun 25, 2025 $0.22; Sep 24, 2025 $0.23; Dec 24, 2025 $0.20; Mar 25, 2026 $0.14; Jun 24, 2026 $0.21; Sep 23, 2026 $0.15. Use the arrow keys to read each point.$0$12017202020232026YTD

HIBL vs UDOW Risk

Fall from peak · 5 years

  • HIBL
  • UDOW
Nov 9, 2021 to Nov 9, 2026. Worst fall: HIBL −81.2% · Apr 2025. Use the arrow keys to read each point.−80%−60%−40%−20%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
HIBL 71.5%UDOW 37.2%, better
Return per unit of riskSharpe ratio, 3 years
HIBL 0.92UDOW 0.95, better
Worst fallMax drawdown, 5 years
HIBL −81.2%UDOW −56.0%, better
Market sensitivityBeta, 5 years
HIBL 4.49UDOW 2.60

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