Best Compound Bows for Under $500

By Brodie SwisherAugust 7, 2020

Whether you’re just getting started with bowhunting, or looking for an inexpensive upgrade, we’ve got a list of great shooting bows that are much easier on the wallet than the high-end bows on the market these days. In fact, our list of bows will pretty much ring up for half the price of the flagship bows from most companies out there. Take a closer look at what we found in our Best Compound Bows for Under $500 list below. 

Whether you're diving into archery for the first time, or just looking for a budget priced bow upgrade, we've got the bows to get you started. @missionarchery

Mission MXR

Mission has been building compound bows with serious adjustability for a long time. They’ve figured out  how to design bows that will fit an archer for life.

They have bows that a person can shoot and hunt with from their childhood, all the way into old age. They are super versatile compound bows. Their MXR is one of the best in the lineup.

Mission built the MXR to stand apart from the pack as a performance hunting bow offering accuracy and speeds traditionally found in higher priced bows.

Built around their popular Crosscentric Cam technology, the MXR is powerful and efficient. The 7″ brace height helps deliver forgiveness and accuracy, while the cam system generates 324 feet per second for plenty of performance that’ll allow you to hunt with confidence. 

The MXR also features a new grip, refined with a thinner, more ergonomic profile that minimizes torque and enhances comfort.

Best Compound Bows For Under $500
Mission MXR

Specs on the Mission MXR

Axle to Axle – 30″ 

Draw Lengths – 23.5″ – 29.5″

Draw Weight – 40-70 lbs

Brace Height  – 7″ 

Physical Weight – 4.02 lbs

Let-Off – 80%

Price – $499

Diamond Edge 320

Diamond Archery was at the forefront of technology when it came to adjustability in compound bows years ago. They were among the first to offer a one-size-fits-all bow that was lethal in the woods for hunting.

Still today, Diamond bows are considered by many to be the leader in ease of use, versatility and adjustability.

As with the entire Edge Series, the adjustability of the Edge 320 makes it the perfect bow for the beginning and experienced archer alike, with the ease of tunability that only the Synchronized Binary Cam System offers.

Despite its light and compact design, the Edge 320 generate 320 FPS of performance and power to help you knock down game of all sizes.  

Best Compound Bows For Under $500
Diamond Edge 320

Specs on the Diamond Edge 320

Axle to Axle – 32″ 

Draw Length – 15″ – 31″

Draw Weight – 7-70 lbs

Brace Height – 7 1/4″

Physical Weight  – 3.6 lbs

Let-Off – 85%

Price – $449

Hoyt Klash

If you’re looking for a super short and compact bow option, check out the Hoyt Klash. It was designed to stand apart with advanced technology and adaptability, all at a price well under $500.

It was built with industry-leading Hoyt technologies that have made their bows popular, including a super smooth cam system. The smooth Klash cam features an all-new hard wall, giving bowhunters that rock-solid hold for the perfect aim. 

The Klash is available with a full 15 to 70 pound draw weight range, as well as an all-new 50 pound max draw weight configuration which maximizes bow performance at draw weights 50 pounds or lower. Both of these configurations easily adjust to draw lengths anywhere within the 18 to 29 inch range. It’s a solid performance bow that archers will find adaptable to meet their needs as they grow through their archery career.  

Best Compound Bows For Under $500
Hoyt Klash

Specs on the Hoyt Klash

Axle to Axle – 28″

Draw Length – 18″ – 29″ 

Draw Weight – 14- 50 / 15 – 70 lbs

Brace Height – 7″

Physical Weight – 3.5 lbs

Speed – 300 FPS

Price $399

Obsession Hashtag

For those looking to outfit a youth, lady, or other small-framed shooter, the Obsession Hashtag fits the need nicely.

Don’t get me wrong. This is no watered down youth bow. It’s built tough. It’s beefy and it’ll grow with a smaller framed shooters for years to come.

The bow is packed with performance features you’ll find in Obsession’s main line of bows, yet priced under $500. 

The Hashtag features a 6061 CNC machined aluminum riser and limb pockets, Obsession’s patented Anti-Torque Flex Guard and laser-numbered rotating mods for easy draw length adjustments that can be done at home without a bow press.

Like the other bows on our list, the Hashtag is highly adjustable with length and weights adjustable to grow with the shooter, from early to late into their archery career.  

Best Compound Bows For Under $500
Obsession Hashtag

Specs on the Obsession Hashtag

Axle to Axle – 32.375″

Draw Lengths – 18″ – 26.5″

Draw Weight – 15 – 60 lbs 

Physical Weight – 3.6 lbs

Let-Off – 80%

Speed – 308 FPS

Price – $499

Elite Ember

The crew at Elite Archery believes they offer they most shootable bows in the world. For 2020, they wanted to spread that shootability around to even more archers. 

That’s why they introduced their new Ember compound bow. The Ember was designed to bring Elite’s popular shootability to archers of all sizes and ages.

It’s a nice and light, compact bow design, built with an aluminum caged riser, limb pockets, cams, and mods.

You’ll also find it to have cam bearings instead of bushings, high-quality Winner’s Choice strings, and limb dampeners. 

The Ember is also built with Elite’s integrated limb stops to deliver a solid back wall that hunters will appreciate.

Best Compound Bows For Under $500
Elite Ember

Specs on the Elite Ember

Axle to Axle – 31.25″

Draw Length – 15″ – 29″ 

Draw Weight – 10-60 lbs

Physical Weight – 3.6 lbs

Brace Height – 6.25″ 

Let-Off – 80%

Speed – 310 FPS

Price – $499

Bear Paradox

Bear is the bow that many of us owned as our first years ago. And these days, Bear is doing what it takes to ensure that archers have the  opportunity to get started with solid equipment at a great value.

You’ll find it in their Bear Paradox HC compound bow.

It’s a 32” axle-to-axle bow with plenty of maneuverability for tight shots in the ground blind or treestand. 

It has plenty of speed to boot, sending arrows speeds up to 350 feet per second.

The Paradox HC features Bear Archery Contraband string and cables ensuring legendary performance for seasons to come.

The hybrid cam system keeps the draw cycle smooth while maintaining speed and accuracy.

You’ll find ample silencing and vibration reduction built into the bow with the ShockWaves limb dampening device.

The Paradox HC’s innovative riser is designed to eliminates riser flex and reduces weight while maintaining its strength. 

Best Compound Bows For Under $500
Bear Paradox HC

Specs on the Bear Paradox

Axle to Axle – 32″

Draw Length – 25″ –  30″

Draw Weight – 45-60 / 55 – 70 lbs

Brace Height – 6″

Physical Weight – 4.3 lbs

Let-Off – 75%

Speed – 340 FPS

Price – $499.99

Don’t let the price of high-end bows discourage you from jumping in to the sport of archery and bowhunting. There are still plenty of opportunities to get started right, and at a price that’s easy on the wallet. 

Whether you’re shopping used bows online, or searching one of the bows from our list, there are a number of options  out there when it comes to the best compound bows for under $500. 

Brodie Swisher
Brodie Swisher is a world champion game caller, outdoor writer, seminar speaker and Editor for Bowhunting.com. Brodie and his family live in the Kentucky Lake area of west Tennessee.
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