BRZU vs. LABU

Last updated Jun 4, 2026

BRZU (Direxion Daily Brazil Bull 2X Shares) and LABU (Direxion Daily S&P Biotech Bull 3x Shares) are both Leveraged Equities funds from Direxion - BRZU tracks the MSCI Brazil 25/50 Index while LABU tracks the S&P Biotechnology Select Industry Index (300%). Both are passively managed. Over the past 10 years, BRZU returned -16.20%/yr vs -13.53%/yr for LABU. At a 0.28 correlation, their price movements are largely independent. BRZU charges 1.29%/yr vs 1.12%/yr for LABU.

Performance

BRZU vs. LABU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Brazil Bull 2X Shares (BRZU) 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, BRZU achieves a 11.76% return, which is significantly higher than LABU's 3.80% return. Over the past 10 years, BRZU has underperformed LABU with an annualized return of -16.20%, while LABU has yielded a comparatively higher -13.53% annualized return.

BRZU

• 1D: -6.46%
• 1M: -22.26%
• YTD: 11.76%
• 6M: 2.36%
• 1Y: 55.66%
• 3Y*: 9.42%
• 5Y*: -4.04%
• 10Y*: -16.20%

LABU

• 1D: 4.61%
• 1M: -11.09%
• YTD: 3.80%
• 6M: 3.63%
• 1Y: 195.85%
• 3Y*: 7.82%
• 5Y*: -32.76%
• 10Y*: -13.53%

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

BRZU vs. LABU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRZU Direxion Daily Brazil Bull 2X Shares	11.76%	97.99%	-57.07%	55.48%	8.30%	-39.23%	-91.34%	57.02%	-37.21%	30.80%
LABU Direxion Daily S&P Biotech Bull 3x Shares	3.80%	79.17%	-26.02%	-13.41%	-80.36%	-64.15%	74.66%	75.50%	-57.61%	149.12%

Correlation

The correlation between BRZU and LABU is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since May 29, 2015	0.28

BRZU vs. LABU - Sectors Allocation Comparison

Sectors	BRZU	LABU
Financial Services	32.7%	0.2%
Energy	18.7%	-
Basic Materials	13.7%	0.0%
Utilities	12.8%	-
Industrials	10.9%	-
Consumer Defensive	4.2%	-
Healthcare	2.4%	99.8%
Communication Services	2.2%	-
Consumer Cyclical	1.5%	-
Technology	0.9%	-
Real Estate	-	-

Return for Risk

BRZU vs. LABU — Risk / Return Rank

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

BRZU

BRZU Risk / Return Rank: 32
BRZU Sharpe Ratio Rank: 31
BRZU Sortino Ratio Rank: 30
BRZU Omega Ratio Rank: 31
BRZU Calmar Ratio Rank: 35
BRZU Martin Ratio Rank: 34

LABU

LABU Risk / Return Rank: 75
LABU Sharpe Ratio Rank: 79
LABU Sortino Ratio Rank: 61
LABU Omega Ratio Rank: 55
LABU Calmar Ratio Rank: 92
LABU Martin Ratio Rank: 87

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.

BRZU vs. LABU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Brazil Bull 2X Shares (BRZU) 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.

	BRZU	LABU	Difference
Sharpe ratio: Return per unit of total volatility	1.13	2.60	-1.47
Sortino ratio: Return per unit of downside risk	1.65	2.93	-1.28
Omega ratio: Gain probability vs. loss probability	1.21	1.35	-0.14
Calmar ratio: Return relative to maximum drawdown	1.73	6.42	-4.69
Martin ratio: Return relative to average drawdown	5.24	18.77	-13.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BRZU vs. LABU - Sharpe Ratio Comparison

The current BRZU Sharpe Ratio is 1.13, which is lower than the LABU Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of BRZU 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.

Sharpe Ratios by Period

	BRZU	LABU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.13	2.60	-1.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.07	-0.34	+0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.20	-0.14	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	-0.35	-0.24	-0.11

Drawdowns

BRZU vs. LABU - Drawdown Comparison

The maximum BRZU drawdown since its inception was -99.71%, roughly equal to the maximum LABU drawdown of -99.18%. Use the drawdown chart below to compare losses from any high point for BRZU and LABU.

Drawdown Indicators

	BRZU	LABU	Difference
Max Drawdown Largest peak-to-trough decline	-99.71%	-99.18%	-0.53%
Max Drawdown (1Y) Largest decline over 1 year	-32.39%	-30.70%	-1.69%
Max Drawdown (3Y) Largest decline over 3 years	-58.25%	-78.30%	+20.05%
Max Drawdown (5Y) Largest decline over 5 years	-65.00%	-97.59%	+32.59%
Max Drawdown (10Y) Largest decline over 10 years	-98.11%	-98.96%	+0.85%
Current Drawdown Current decline from peak	-99.20%	-96.34%	-2.86%
Average Drawdown Average peak-to-trough decline	-89.55%	-81.68%	-7.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.66%	10.48%	+0.18%

Volatility

BRZU vs. LABU - Volatility Comparison

The current volatility for Direxion Daily Brazil Bull 2X Shares (BRZU) is 15.75%, while Direxion Daily S&P Biotech Bull 3x Shares (LABU) has a volatility of 27.83%. This indicates that BRZU 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

	BRZU	LABU	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.75%	27.83%	-12.08%
Volatility (6M) Calculated over the trailing 6-month period	41.66%	59.70%	-18.04%
Volatility (1Y) Calculated over the trailing 1-year period	49.58%	75.91%	-26.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.40%	95.58%	-40.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.15%	95.42%	-12.27%

BRZU vs. LABU - Expense Ratio Comparison

BRZU has a 1.29% expense ratio, which is higher than LABU's 1.12% expense ratio.

Dividends

BRZU vs. LABU - Dividend Comparison

BRZU's dividend yield for the trailing twelve months is around 2.39%, more than LABU's 0.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRZU Direxion Daily Brazil Bull 2X Shares	2.39%	2.39%	8.73%	3.24%	4.70%	6.29%	0.78%	0.95%	1.04%	0.74%
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%

Frequently Asked Questions

Can I hold both BRZU and LABU in my portfolio?

BRZU and LABU have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BRZU or LABU?

LABU has higher volatility (27.83%) compared to BRZU (15.75%). In terms of maximum drawdown, BRZU dropped -99.71% vs LABU's -99.18%.

Which ETF is better, BRZU or LABU?

On 10-year performance, LABU leads with -13.53% vs -16.20% for BRZU. On fees, LABU is cheaper at 1.12% per year. On volatility, BRZU has been the lower-risk option at 15.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BRZU or LABU?

Over the 10-year period, LABU has performed better with a -13.53% return vs -16.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BRZU or LABU?

LABU is cheaper with a 1.12% expense ratio, compared with 1.29% for BRZU.

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

BRZU has the higher dividend yield at 2.39%, compared with 0.74% for LABU.

What is the main difference between BRZU and LABU?

BRZU tracks MSCI Brazil 25/50 Index, while LABU tracks S&P Biotechnology Select Industry Index (300%). Their fees differ too: 1.29% for BRZU and 1.12% for LABU.

Which has better risk-adjusted returns?

LABU currently has the higher Sharpe Ratio (2.60 vs 1.13), 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.