BIB vs. LABU

Last updated Jun 24, 2026

BIB (ProShares Ultra Nasdaq Biotechnology) and LABU (Direxion Daily S&P Biotech Bull 3x Shares) are both Leveraged Equities funds - BIB tracks the NASDAQ Biotechnology Index (200%) while LABU tracks the S&P Biotechnology Select Industry Index (300%). Both are passively managed. Over the past 10 years, BIB returned 9.71%/yr vs -7.18%/yr for LABU. Their correlation of 0.92 suggests significant overlap in exposure. BIB charges 0.95%/yr vs 1.12%/yr for LABU.

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.

Returns By Period

In the year-to-date period, BIB achieves a 12.50% return, which is significantly lower than LABU's 47.57% return. Over the past 10 years, BIB has outperformed LABU with an annualized return of 9.71%, while LABU has yielded a comparatively lower -7.18% annualized return.

BIB

• 1D: 1.97%
• 1M: 9.49%
• YTD: 12.50%
• 6M: 8.62%
• 1Y: 100.86%
• 3Y*: 19.65%
• 5Y*: -0.74%
• 10Y*: 9.71%

LABU

• 1D: 2.26%
• 1M: 34.26%
• YTD: 47.57%
• 6M: 36.98%
• 1Y: 324.35%
• 3Y*: 23.36%
• 5Y*: -31.01%
• 10Y*: -7.18%

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

BIB vs. LABU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIB ProShares Ultra Nasdaq Biotechnology	12.50%	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	47.57%	79.17%	-26.02%	-13.41%	-80.36%	-64.15%	74.66%	75.50%	-57.61%	149.12%

Correlation

The correlation between BIB and LABU is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since May 28, 2015	0.92

The correlation between BIB and LABU has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

BIB vs. LABU - Sectors Allocation Comparison

Sectors	BIB	LABU
Healthcare	62.9%	99.7%
Financial Services	6.8%	0.3%
Basic Materials	-	0.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

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: 80
BIB Sharpe Ratio Rank: 83
BIB Sortino Ratio Rank: 73
BIB Omega Ratio Rank: 65
BIB Calmar Ratio Rank: 92
BIB Martin Ratio Rank: 88

LABU

LABU Risk / Return Rank: 91
LABU Sharpe Ratio Rank: 97
LABU Sortino Ratio Rank: 86
LABU Omega Ratio Rank: 78
LABU Calmar Ratio Rank: 97
LABU Martin Ratio Rank: 95

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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BIB	LABU	Difference
Sharpe ratio: Return per unit of total volatility	2.51	4.15	-1.64
Sortino ratio: Return per unit of downside risk	3.08	3.66	-0.59
Omega ratio: Gain probability vs. loss probability	1.36	1.44	-0.08
Calmar ratio: Return relative to maximum drawdown	5.99	10.64	-4.65
Martin ratio: Return relative to average drawdown	18.30	29.90	-11.60

BIB vs. LABU - Sharpe Ratio Comparison

The current BIB Sharpe Ratio is 2.51, which is lower than the LABU Sharpe Ratio of 4.15. The chart below compares the historical Sharpe Ratios of BIB and LABU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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	-16.92%	-30.70%	+13.78%
Max Drawdown (3Y) Largest decline over 3 years	-45.30%	-78.30%	+33.00%
Max Drawdown (5Y) Largest decline over 5 years	-65.86%	-97.59%	+31.73%
Max Drawdown (10Y) Largest decline over 10 years	-66.20%	-98.96%	+32.76%
Current Drawdown Current decline from peak	-17.29%	-94.80%	+77.51%
Average Drawdown Average peak-to-trough decline	-32.71%	-81.72%	+49.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.53%	10.91%	-5.38%

Volatility

BIB vs. LABU - Volatility Comparison

The current volatility for ProShares Ultra Nasdaq Biotechnology (BIB) is 13.56%, while Direxion Daily S&P Biotech Bull 3x Shares (LABU) has a volatility of 29.76%. 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	13.56%	29.76%	-16.20%
Volatility (6M) Calculated over the trailing 6-month period	31.65%	63.07%	-31.42%
Volatility (1Y) Calculated over the trailing 1-year period	40.43%	78.78%	-38.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.60%	95.94%	-52.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.39%	95.44%	-49.05%

BIB vs. LABU - Expense Ratio Comparison

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

Dividends

BIB vs. LABU - Dividend Comparison

BIB's dividend yield for the trailing twelve months is around 0.55%, more than LABU's 0.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIB ProShares Ultra Nasdaq Biotechnology	0.55%	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	0.52%	0.84%	0.35%	0.35%	0.00%	0.00%	0.00%	0.28%	0.64%	0.17%

Frequently Asked Questions

Can I hold both BIB and LABU in my portfolio?

With a correlation of 0.93, BIB and LABU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BIB or LABU?

LABU has higher volatility (29.76%) compared to BIB (13.56%). In terms of maximum drawdown, BIB dropped -67.24% vs LABU's -99.18%.

Which ETF is better, BIB or LABU?

On 10-year performance, BIB leads with 9.71% vs -7.18% for LABU. On fees, BIB is cheaper at 0.95% per year. On volatility, BIB has been the lower-risk option at 13.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BIB or LABU?

Over the 10-year period, BIB has performed better with a 9.71% return vs -7.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BIB or LABU?

BIB is cheaper with a 0.95% expense ratio, compared with 1.12% for LABU.

Which ETF pays a higher dividend yield, BIB or LABU?

BIB has the higher dividend yield at 0.55%, compared with 0.52% for LABU.

What is the main difference between BIB and LABU?

BIB tracks NASDAQ Biotechnology Index (200%), while LABU tracks S&P Biotechnology Select Industry Index (300%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for BIB and 1.12% for LABU.

Which has better risk-adjusted returns?

LABU currently has the higher Sharpe Ratio (4.15 vs 2.51), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.