FLYU vs. LABU

Last updated Aug 2, 2026

FLYU (MicroSectors Travel 3X Leveraged ETNs) and LABU (Direxion Daily S&P Biotech Bull 3x Shares) are both Leveraged Equities funds - FLYU tracks the MerQube MicroSectors U.S. Travel Index while LABU tracks the S&P Biotechnology Select Industry Index (300%). Both are passively managed. Over the past 3 years, FLYU returned 0.98%/yr vs 25.64%/yr for LABU. Their 0.50 correlation means their historical movements had little consistent relationship. FLYU charges 0.95%/yr vs 0.96%/yr for LABU.

Performance

FLYU vs. LABU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Travel 3X Leveraged ETNs (FLYU) 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, FLYU achieves a -14.35% return, which is significantly lower than LABU's 42.67% return.

FLYU

• 1D: -2.10%
• 1M: -9.79%
• 6M: -1.73%
• YTD: -14.35%
• 1Y: -4.05%
• 3Y*: 0.98%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.94%

LABU

• 1D: -8.60%
• 1M: -25.06%
• 6M: 37.10%
• YTD: 42.67%
• 1Y: 272.05%
• 3Y*: 25.64%
• 5Y*: -26.71%
• 10Y*: -12.33%
• ALL TIME*: -20.62%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FLYU MicroSectors Travel 3X Leveraged ETNs	$41.17K	$39.32K	$61.70K
LABU Direxion Daily S&P Biotech Bull 3x Shares	$76.19M	$116.75M	$118.31M

FLYU vs. LABU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FLYU MicroSectors Travel 3X Leveraged ETNs	-14.35%	-2.29%	33.00%	111.16%	-19.09%
LABU Direxion Daily S&P Biotech Bull 3x Shares	42.67%	79.17%	-26.02%	-13.41%	22.96%

Correlation

The correlation between FLYU and LABU is 0.38, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.38
Correlation (3Y) Balances recent behavior with more history.	0.46
Correlation (All Time) Calculated using the full available price history since Jun 22, 2022	0.50

The correlation between FLYU and LABU shifts across timeframes, from 0.38 (1 year) to 0.50 (all time), reflecting how their relationship changes across market environments.

FLYU vs. LABU - Sectors Allocation Comparison

Sectors	FLYU	LABU
Consumer Cyclical	52.6%	-
Industrials	17.7%	-
Technology	16.4%	-
Communication Services	13.2%	-
Real Estate	0.1%	-
Basic Materials	-	0.0%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.5%
Healthcare	-	99.5%
Utilities	-	-

Return for Risk

FLYU vs. LABU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FLYU

FLYU Risk / Return Rank: 10
FLYU Sharpe Ratio Rank: 9
FLYU Sortino Ratio Rank: 14
FLYU Omega Ratio Rank: 13
FLYU Calmar Ratio Rank: 8
FLYU Martin Ratio Rank: 8

LABU

LABU Risk / Return Rank: 94
LABU Sharpe Ratio Rank: 97
LABU Sortino Ratio Rank: 92
LABU Omega Ratio Rank: 88
LABU Calmar Ratio Rank: 98
LABU Martin Ratio Rank: 96

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FLYU vs. LABU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Travel 3X Leveraged ETNs (FLYU) 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.

	FLYU	LABU	Difference
Sharpe ratio: Return per unit of total volatility	-0.14	3.45	-3.59
Sortino ratio: Return per unit of downside risk	0.34	3.30	-2.95
Omega ratio: Gain probability vs. loss probability	1.04	1.39	-0.36
Calmar ratio: Return relative to maximum drawdown	-0.21	9.00	-9.21
Martin ratio: Return relative to average drawdown	-0.41	23.05	-23.46

FLYU vs. LABU - Sharpe Ratio Comparison

The current FLYU Sharpe Ratio is -0.14, which is lower than the LABU Sharpe Ratio of 3.45. The chart below compares the historical Sharpe Ratios of FLYU 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

FLYU vs. LABU - Drawdown Comparison

The maximum FLYU drawdown since its inception was -69.00%, smaller than the maximum LABU drawdown of -99.18%. Use the drawdown chart below to compare losses from any high point for FLYU and LABU.

Drawdown Indicators

	FLYU	LABU	Difference
Max Drawdown Largest peak-to-trough decline	-69.00%	-99.18%	+30.18%
Max Drawdown (1Y) Largest decline over 1 year	-52.33%	-30.70%	-21.63%
Max Drawdown (3Y) Largest decline over 3 years	-69.00%	-78.30%	+9.30%
Max Drawdown (5Y) Largest decline over 5 years	—	-97.36%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-98.96%	—
Current Drawdown Current decline from peak	-32.06%	-94.97%	+62.91%
Average Drawdown Average peak-to-trough decline	-26.65%	-81.83%	+55.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.23%	11.97%	+14.26%

Volatility

FLYU vs. LABU - Volatility Comparison

The current volatility for MicroSectors Travel 3X Leveraged ETNs (FLYU) is 21.04%, while Direxion Daily S&P Biotech Bull 3x Shares (LABU) has a volatility of 24.69%. This indicates that FLYU 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

	FLYU	LABU	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.04%	24.69%	-3.65%
Volatility (6M) Calculated over the trailing 6-month period	61.81%	63.73%	-1.92%
Volatility (1Y) Calculated over the trailing 1-year period	76.03%	80.28%	-4.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	82.98%	96.01%	-13.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.98%	95.22%	-12.24%

FLYU vs. LABU - Expense Ratio Comparison

FLYU has a 0.95% expense ratio, which is lower than LABU's 0.96% expense ratio.

Dividends

FLYU vs. LABU - Dividend Comparison

FLYU has not paid dividends to shareholders, while LABU's dividend yield for the trailing twelve months is around 0.45%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLYU MicroSectors Travel 3X Leveraged ETNs	0.00%	0.00%	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	0.45%	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 FLYU and LABU in my portfolio?

FLYU and LABU have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLYU or LABU?

LABU has higher volatility (24.69%) compared to FLYU (21.04%). In terms of maximum drawdown, FLYU dropped -69.00% vs LABU's -99.18%.

Which ETF is better, FLYU or LABU?

On 3-year performance, LABU leads with 25.64% vs 0.98% for FLYU. On fees, FLYU is cheaper at 0.95% per year. On volatility, FLYU has been the lower-risk option at 21.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLYU or LABU?

Over the 3-year period, LABU has performed better with a 25.64% return vs 0.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLYU or LABU?

FLYU is cheaper with a 0.95% expense ratio, compared with 0.96% for LABU.

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

LABU has the higher dividend yield at 0.45%, compared with 0.00% for FLYU.

What is the main difference between FLYU and LABU?

FLYU tracks MerQube MicroSectors U.S. Travel Index, while LABU tracks S&P Biotechnology Select Industry Index (300%). They also come from different issuers: REX and Direxion. Their fees differ too: 0.95% for FLYU and 0.96% for LABU.

Which has better risk-adjusted returns?

LABU currently has the higher Sharpe Ratio (3.45 vs -0.14), 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.