BIB vs. LABU

Last updated Apr 1, 2026

Compare and contrast key facts about ProShares Ultra Nasdaq Biotechnology (BIB) and Direxion Daily S&P Biotech Bull 3x Shares (LABU).

BIB and LABU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BIB is a passively managed fund by ProShares that tracks the performance of the NASDAQ Biotechnology Index (200%). It was launched on Apr 7, 2010. LABU is a passively managed fund by Direxion that tracks the performance of the S&P Biotechnology Select Industry Index (300%). It was launched on May 28, 2015. Both BIB and LABU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

BIB vs. LABU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Nasdaq Biotechnology (BIB) and Direxion Daily S&P Biotech Bull 3x Shares (LABU). The values are adjusted to include any dividend payments, if applicable.

BIB vs. LABU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIB ProShares Ultra Nasdaq Biotechnology	2.18%	59.21%	-9.84%	-1.06%	-28.85%	-6.02%	39.79%	46.71%	-24.93%	40.49%
LABU Direxion Daily S&P Biotech Bull 3x Shares	4.20%	79.17%	-26.02%	-13.41%	-80.36%	-64.15%	74.66%	75.50%	-57.61%	149.12%

Returns By Period

In the year-to-date period, BIB achieves a 2.18% return, which is significantly lower than LABU's 4.20% return. Over the past 10 years, BIB has outperformed LABU with an annualized return of 6.84%, while LABU has yielded a comparatively lower -11.81% annualized return.

BIB

• 1D: 9.12%
• 1M: -7.53%
• YTD: 2.18%
• 6M: 37.07%
• 1Y: 70.62%
• 3Y*: 15.61%
• 5Y*: -0.24%
• 10Y*: 6.84%

LABU

• 1D: 22.31%
• 1M: -3.83%
• YTD: 4.20%
• 6M: 78.34%
• 1Y: 175.22%
• 3Y*: 19.86%
• 5Y*: -36.38%
• 10Y*: -11.81%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BIB vs. LABU - Expense Ratio Comparison

BIB has a 0.95% expense ratio, which is lower than LABU's 1.12% expense ratio.

LABU

Direxion Daily S&P Biotech Bull 3x Shares

BIB

ProShares Ultra Nasdaq Biotechnology

Return for Risk

BIB vs. LABU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BIB

BIB Risk / Return Rank: 81
BIB Sharpe Ratio Rank: 80
BIB Sortino Ratio Rank: 80
BIB Omega Ratio Rank: 71
BIB Calmar Ratio Rank: 88
BIB Martin Ratio Rank: 85

LABU

LABU Risk / Return Rank: 90
LABU Sharpe Ratio Rank: 92
LABU Sortino Ratio Rank: 90
LABU Omega Ratio Rank: 82
LABU Calmar Ratio Rank: 94
LABU Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BIB vs. LABU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Nasdaq Biotechnology (BIB) and Direxion Daily S&P Biotech Bull 3x Shares (LABU). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BIB	LABU	Difference
Sharpe ratio Return per unit of total volatility	1.50	2.04	-0.53
Sortino ratio Return per unit of downside risk	2.04	2.48	-0.44
Omega ratio Gain probability vs. loss probability	1.26	1.31	-0.05
Calmar ratio Return relative to maximum drawdown	2.76	3.74	-0.98
Martin ratio Return relative to average drawdown	9.82	11.90	-2.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BIB vs. LABU - Sharpe Ratio Comparison

The current BIB Sharpe Ratio is 1.50, which is comparable to the LABU Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of BIB and LABU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BIB	LABU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	2.04	-0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.01	-0.38	+0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.15	-0.12	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	-0.24	+0.58

Correlation

The correlation between BIB and LABU is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BIB vs. LABU - Dividend Comparison

BIB's dividend yield for the trailing twelve months is around 0.60%, less than LABU's 0.74% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIB ProShares Ultra Nasdaq Biotechnology	0.60%	0.77%	1.69%	0.07%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%
LABU Direxion Daily S&P Biotech Bull 3x Shares	0.74%	0.84%	0.35%	0.35%	0.00%	0.00%	0.00%	0.28%	0.64%	0.17%

Drawdowns

BIB vs. LABU - Drawdown Comparison

The maximum BIB drawdown since its inception was -67.24%, smaller than the maximum LABU drawdown of -99.18%. Use the drawdown chart below to compare losses from any high point for BIB and LABU.

Drawdown Indicators

	BIB	LABU	Difference
Max Drawdown Largest peak-to-trough decline	-67.24%	-99.18%	+31.94%
Max Drawdown (1Y) Largest decline over 1 year	-21.73%	-36.66%	+14.93%
Max Drawdown (5Y) Largest decline over 5 years	-65.86%	-97.75%	+31.89%
Max Drawdown (10Y) Largest decline over 10 years	-66.20%	-98.96%	+32.76%
Current Drawdown Current decline from peak	-24.88%	-96.33%	+71.45%
Average Drawdown Average peak-to-trough decline	-32.85%	-81.45%	+48.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.52%	12.01%	-5.49%

Volatility

BIB vs. LABU - Volatility Comparison

The current volatility for ProShares Ultra Nasdaq Biotechnology (BIB) is 17.28%, while Direxion Daily S&P Biotech Bull 3x Shares (LABU) has a volatility of 33.99%. This indicates that BIB experiences smaller price fluctuations and is considered to be less risky than LABU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIB	LABU	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.28%	33.99%	-16.71%
Volatility (6M) Calculated over the trailing 6-month period	28.86%	56.88%	-28.02%
Volatility (1Y) Calculated over the trailing 1-year period	47.37%	87.36%	-39.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.32%	95.74%	-52.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.78%	95.91%	-49.13%