HIBL: DIREXION DAILY S&P 500(R) HIGH BETA BULL 3X SHARES
Share-split context: This ETF has both forward- and reverse-split history. The most recent recorded event was on Mar 2, 2021 with coefficient 7. Current price-return figures are already split-adjusted. Forward splits receive no automatic performance penalty; reverse-split history remains a separate structural warning.
ETF Education Report: DIREXION Daily S&P 500(R) High Beta Bull 3X Shares (HIBL)
What this ETF is trying to do
HIBL is a leveraged ETF. This means it uses financial tools to try to multiply the daily movements of a specific group of stocks. Specifically, this fund focuses on "high beta" stocks within the S&P 500. High beta stocks are often more volatile, meaning their prices may move up or down more sharply than the broader market.
What the numbers show
When looking at HIBL, it is important to distinguish between "price return" and "total return." Price return only tracks the change in the share price. Total return includes both the price change and any cash distributions paid out to investors.
Based on the supplied data:
• Year-to-Date (YTD): The price return is approximately 81.51%, while the total return is approximately 81.63%.
• One-Year: The price return was approximately 93.57%, and the total return was approximately 97.47%.
• Three-Year: The price return was approximately 340.83%, and the total return was approximately 356.80%.
This ETF has a history of both forward and reverse splits. In a forward split, one old share becomes multiple new shares, which lowers the price per share but keeps your total ownership the same. In a reverse split, multiple old shares are combined into fewer new shares, which raises the price per share mechanically.
Income and distribution explanation
HIBL has a distribution yield of approximately 1.25%. This represents the cash distributions relative to the ETF's price. The fund has made two distributions in the last 12 months, and the frequency is described as irregular or less frequent. It is important to remember that a distribution yield is not the same as total return.
NAV erosion explanation
"NAV erosion" refers to a decline in the Net Asset Value (the actual value of the fund's underlying assets). While a falling share price can sometimes look like erosion, they are not the same thing. For HIBL, the erosion-risk score is 100, and the label states "No price erosion detected." There is no severe erosion-risk flag for this ETF.
Top Holdings
The following are the top holdings from a partial list provided by the fund. Please note that holdings can change over time:
• SP5HBI SWAP ASSET LEG (76.61%)
• GOLDMAN FINL SQ TRSRY INST 506 (8.71%)
• DREYFUS GOVT CASH MAN INS (4.60%)
• GOLDMAN SACHS FIN GOV 465 INSTITUT (0.88%)
• SANDISK CORP ORDINARY SHARES (0.49%)
Pros
• The fund has shown significant positive total returns over the one-year and three-year periods.
• The erosion-risk measurement is currently rated as "good."
Cons
• This is a leveraged ETF, which typically involves higher risk and volatility.
• Distributions are irregular and less frequent.
Beginner takeaway
HIBL is a complex, leveraged tool designed for specific market movements. While the total returns have been high, investors should understand that price returns and total returns are different, and high volatility is a key feature of this type of fund.
Top Holdings
Structured portfolio holdings supplied by the ETF data provider. These figures are not generated by the AI article.
| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | SP5HBI SWAP ASSET LEG | n/a | 76.61% |
| 2 | GOLDMAN FINL SQ TRSRY INST 506 | n/a | 8.71% |
| 3 | DREYFUS GOVT CASH MAN INS | n/a | 4.60% |
| 4 | GOLDMAN SACHS FIN GOV 465 INSTITUT | n/a | 0.88% |
| 5 | SANDISK CORP ORDINARY SHARES | SNDK | 0.49% |
| 6 | MODERNA INC | MRNA | 0.46% |
| 7 | ADVANCED MICRO DEVICES INC | AMD | 0.35% |
| 8 | MICRON TECHNOLOGY INC | MU | 0.35% |
| 9 | n/a | COIN | 0.34% |
| 10 | SUPER MICRO COMPUTER INC | SMCI | 0.34% |