IBBQ vs. LABD
IBBQ (Invesco Nasdaq Biotechnology ETF) and LABD (Direxion Daily S&P Biotech Bear 3x Shares) are both exchange-traded funds - IBBQ is a Health & Biotech Equities fund tracking the NASDAQ / Biotechnology, while LABD is a Leveraged Equities fund tracking the S&P Biotechnology Select Industry Index (-300%). Both are passively managed. Over the past 3 years, IBBQ returned 11.95%/yr vs -49.03%/yr for LABD. At a correlation of -0.91, they often move in opposite directions. IBBQ charges 0.00%/yr vs 1.06%/yr for LABD.
Performance
IBBQ vs. LABD - Performance Comparison
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Returns By Period
In the year-to-date period, IBBQ achieves a 0.14% return, which is significantly higher than LABD's -26.35% return.
IBBQ
- 1D
- -2.91%
- 1M
- -1.52%
- YTD
- 0.14%
- 6M
- 1.13%
- 1Y
- 38.35%
- 3Y*
- 11.95%
- 5Y*
- —
- 10Y*
- —
LABD
- 1D
- 13.36%
- 1M
- 2.25%
- YTD
- -26.35%
- 6M
- -33.91%
- 1Y
- -80.10%
- 3Y*
- -49.03%
- 5Y*
- -40.90%
- 10Y*
- -55.90%
IBBQ vs. LABD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IBBQ Invesco Nasdaq Biotechnology ETF | 0.14% | 33.32% | -0.63% | 4.73% | -10.41% | -6.72% |
LABD Direxion Daily S&P Biotech Bear 3x Shares | -26.35% | -70.07% | -21.43% | -41.77% | -32.68% | 32.68% |
Correlation
The correlation between IBBQ and LABD is -0.91, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.92 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2021 | -0.91 |
The correlation between IBBQ and LABD has been stable across timeframes, ranging from -0.92 to -0.91 - a consistent structural relationship.
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Return for Risk
IBBQ vs. LABD — Risk / Return Rank
IBBQ
LABD
IBBQ vs. LABD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Nasdaq Biotechnology ETF (IBBQ) and Direxion Daily S&P Biotech Bear 3x Shares (LABD). 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.
| IBBQ | LABD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.97 | -1.06 | +3.03 |
Sortino ratioReturn per unit of downside risk | 2.78 | -2.21 | +4.99 |
Omega ratioGain probability vs. loss probability | 1.33 | 0.75 | +0.58 |
Calmar ratioReturn relative to maximum drawdown | 4.89 | -0.98 | +5.86 |
Martin ratioReturn relative to average drawdown | 16.17 | -1.32 | +17.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBBQ | LABD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.97 | -1.06 | +3.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.43 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.58 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | -0.54 | +0.68 |
Drawdowns
IBBQ vs. LABD - Drawdown Comparison
The maximum IBBQ drawdown since its inception was -37.94%, smaller than the maximum LABD drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for IBBQ and LABD.
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Drawdown Indicators
| IBBQ | LABD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.94% | -99.99% | +62.05% |
Max Drawdown (1Y)Largest decline over 1 year | -8.34% | -83.21% | +74.87% |
Max Drawdown (3Y)Largest decline over 3 years | -23.66% | -95.31% | +71.65% |
Max Drawdown (5Y)Largest decline over 5 years | — | -98.24% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.98% | — |
Current DrawdownCurrent decline from peak | -6.82% | -99.99% | +93.17% |
Average DrawdownAverage peak-to-trough decline | -16.83% | -90.92% | +74.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.52% | 62.04% | -59.52% |
Volatility
IBBQ vs. LABD - Volatility Comparison
The current volatility for Invesco Nasdaq Biotechnology ETF (IBBQ) is 6.88%, while Direxion Daily S&P Biotech Bear 3x Shares (LABD) has a volatility of 28.02%. This indicates that IBBQ experiences smaller price fluctuations and is considered to be less risky than LABD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBBQ | LABD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.88% | 28.02% | -21.14% |
Volatility (6M)Calculated over the trailing 6-month period | 15.21% | 61.98% | -46.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.63% | 76.01% | -56.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.85% | 96.24% | -74.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.85% | 95.94% | -74.09% |
IBBQ vs. LABD - Expense Ratio Comparison
IBBQ has a 0.00% expense ratio, which is lower than LABD's 1.06% expense ratio.
Dividends
IBBQ vs. LABD - Dividend Comparison
IBBQ's dividend yield for the trailing twelve months is around 0.88%, less than LABD's 6.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IBBQ Invesco Nasdaq Biotechnology ETF | 0.88% | 0.90% | 1.14% | 0.81% | 0.76% | 0.63% | 0.00% | 0.00% | 0.00% |
LABD Direxion Daily S&P Biotech Bear 3x Shares | 6.14% | 6.67% | 4.68% | 6.13% | 0.53% | 0.00% | 3.94% | 1.75% | 0.81% |
Frequently Asked Questions
IBBQ and LABD have a correlation of -0.91, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LABD has higher volatility (28.02%) compared to IBBQ (6.88%). In terms of maximum drawdown, IBBQ dropped -37.94% vs LABD's -99.99%.
On 3-year performance, IBBQ leads with 11.95% vs -49.03% for LABD. On fees, IBBQ is cheaper at 0.00% per year. On volatility, IBBQ has been the lower-risk option at 6.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IBBQ has performed better with a 11.95% return vs -49.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBBQ is cheaper with a 0.00% expense ratio, compared with 1.06% for LABD.
LABD has the higher dividend yield at 6.14%, compared with 0.88% for IBBQ.
IBBQ is categorized as Health & Biotech Equities, while LABD is Leveraged Equities. IBBQ tracks NASDAQ / Biotechnology, while LABD tracks S&P Biotechnology Select Industry Index (-300%). They also come from different issuers: Invesco and Direxion. Their fees differ too: 0.00% for IBBQ and 1.06% for LABD.
IBBQ currently has the higher Sharpe Ratio (1.97 vs -1.06), 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.
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