CONX vs. LABU
CONX (Direxion Daily COIN Bull 2X ETF) and LABU (Direxion Daily S&P Biotech Bull 3x Shares) are both Leveraged Equities funds from Direxion. CONX is actively managed, while LABU is passively managed. At a 0.34 correlation, their price movements are largely independent. CONX charges 0.97%/yr vs 0.96%/yr for LABU.
Performance
CONX vs. LABU - Performance Comparison
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Returns By Period
In the year-to-date period, CONX achieves a -66.51% return, which is significantly lower than LABU's 71.18% return.
CONX
- 1D
- -2.38%
- 1M
- -6.81%
- 6M
- -70.61%
- YTD
- -66.51%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
LABU
- 1D
- -7.15%
- 1M
- 52.75%
- 6M
- 65.05%
- YTD
- 71.18%
- 1Y
- 322.17%
- 3Y*
- 31.36%
- 5Y*
- -25.04%
- 10Y*
- -8.25%
CONX vs. LABU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CONX Direxion Daily COIN Bull 2X ETF | -66.51% | -21.90% |
LABU Direxion Daily S&P Biotech Bull 3x Shares | 71.18% | 16.43% |
Correlation
The correlation between CONX and LABU is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025 | 0.34 |
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Return for Risk
CONX vs. LABU — Risk / Return Rank
CONX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
LABU
CONX vs. LABU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily COIN Bull 2X ETF (CONX) 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.
| CONX | LABU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.43 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 10.57 | — |
| Martin ratioReturn relative to average drawdown | — | 29.65 | — |
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Drawdowns
CONX vs. LABU - Drawdown Comparison
The maximum CONX drawdown since its inception was -81.70%, smaller than the maximum LABU drawdown of -99.18%. Use the drawdown chart below to compare losses from any high point for CONX and LABU.
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Drawdown Indicators
| CONX | LABU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.70% | -99.18% | +17.48% |
Max Drawdown (1Y)Largest decline over 1 year | — | -30.70% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -78.30% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -97.36% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -98.96% | — |
Current DrawdownCurrent decline from peak | -78.18% | -93.97% | +15.79% |
Average DrawdownAverage peak-to-trough decline | -53.16% | -81.77% | +28.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 10.92% | — |
Volatility
CONX vs. LABU - Volatility Comparison
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Volatility by Period
| CONX | LABU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 24.02% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 63.24% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 142.48% | 79.59% | +62.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 142.48% | 96.05% | +46.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 142.48% | 95.24% | +47.24% |
CONX vs. LABU - Expense Ratio Comparison
CONX has a 0.97% expense ratio, which is higher than LABU's 0.96% expense ratio.
Dividends
CONX vs. LABU - Dividend Comparison
CONX's dividend yield for the trailing twelve months is around 2.98%, more than LABU's 0.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CONX Direxion Daily COIN Bull 2X ETF | 2.98% | 0.42% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LABU Direxion Daily S&P Biotech Bull 3x Shares | 0.37% | 0.84% | 0.35% | 0.35% | 0.00% | 0.00% | 0.00% | 0.28% | 0.64% | 0.17% |
Frequently Asked Questions
CONX and LABU have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LABU is cheaper at 0.96% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LABU is cheaper with a 0.96% expense ratio, compared with 0.97% for CONX.
CONX has the higher dividend yield at 2.98%, compared with 0.37% for LABU.
Their fees differ too: 0.97% for CONX and 0.96% for LABU.
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