Direxion Daily S&P Biotech Bear 3x Shares (LABD)

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Direxion Daily S&P Biotech Bear 3x Shares (LABD) is down 52.3% since the beginning of the year. LABD is currently trading at $10 per share. Investors who bought $1,000 worth of LABD shares 5 years ago would now be looking at an investment worth $57.

Direxion Daily S&P Biotech Bear 3x Shares (LABD) has returned -52.30% so far this year and -86.60% over the past 12 months. Over the last ten years, LABD has returned -58.96% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since May 28, 2015, LABD's average daily return is -0.12%, while the average monthly return is -3.57%.

Historically, 40% of months were positive and 60% were negative. The best month was Jan 2016 with a return of +130.6%, while the worst month was Apr 2020 at -50.9%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 6 months.

On a daily basis, LABD closed higher 48% of trading days. The best single day was Mar 16, 2020 with a return of +37.3%, while the worst single day was Nov 9, 2016 at -33.0%.

Direxion Daily S&P Biotech Bear 3x Shares has an annualized alpha of 14.63%, beta of -3.44, and R2 of 0.39 versus S&P 500 Index. Calculated based on daily prices since May 28, 2015.

• This ETF tended to rise when S&P 500 Index fell (downside capture of -585.06%), but participation in market rallies was also limited (-167.02%) - a profile typical of counter-cyclical assets.
• Beta of -3.44 may look defensive, but with R2 of 0.39 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
• R2 of 0.39 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.

LABD has a high expense ratio of 1.06%, indicating above-average management fees.

LABD ranks 1 for risk / return — in the bottom 1% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

Direxion Daily S&P Biotech Bear 3x Shares provided a 9.48% dividend yield over the last twelve months, with an annual payout of $0.95 per share.

The table displays the monthly dividend distributions for Direxion Daily S&P Biotech Bear 3x Shares. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Direxion Daily S&P Biotech Bear 3x Shares. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Direxion Daily S&P Biotech Bear 3x Shares was 99.99%, occurring on Jun 22, 2026. The portfolio has not yet recovered.

The current Direxion Daily S&P Biotech Bear 3x Shares drawdown is 99.99%.

The chart below shows the rolling one-month volatility.