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 5 years, IBBQ returned 4.77%/yr vs -43.25%/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 8.67% return, which is significantly higher than LABD's -53.78% return.
IBBQ
- 1D
- 0.93%
- 1M
- 5.09%
- YTD
- 8.67%
- 6M
- 7.00%
- 1Y
- 48.86%
- 3Y*
- 15.18%
- 5Y*
- 4.77%
- 10Y*
- —
LABD
- 1D
- -3.10%
- 1M
- -32.29%
- YTD
- -53.78%
- 6M
- -50.39%
- 1Y
- -87.04%
- 3Y*
- -56.99%
- 5Y*
- -43.25%
- 10Y*
- -59.09%
IBBQ vs. LABD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IBBQ Invesco Nasdaq Biotechnology ETF | 8.67% | 33.32% | -0.63% | 4.73% | -10.41% | -6.24% |
LABD Direxion Daily S&P Biotech Bear 3x Shares | -53.78% | -70.07% | -21.43% | -41.77% | -32.68% | 33.16% |
Correlation
The correlation between IBBQ and LABD is -0.92, 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 | -0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.91 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 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.
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.
| IBBQ | LABD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.56 | ||
| Sortino ratioReturn per unit of downside risk | +6.09 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 0.70 | +0.70 |
| Calmar ratioReturn relative to maximum drawdown | 5.89 | -1.00 | +6.89 |
| Martin ratioReturn relative to average drawdown | 18.75 | -1.37 | +20.13 |
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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% | -86.75% | +78.41% |
Max Drawdown (3Y)Largest decline over 3 years | -23.66% | -96.40% | +72.74% |
Max Drawdown (5Y)Largest decline over 5 years | -37.94% | -98.65% | +60.71% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.99% | — |
Current DrawdownCurrent decline from peak | 0.00% | -99.99% | +99.99% |
Average DrawdownAverage peak-to-trough decline | -16.66% | -90.99% | +74.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 64.00% | -61.39% |
Volatility
IBBQ vs. LABD - Volatility Comparison
The current volatility for Invesco Nasdaq Biotechnology ETF (IBBQ) is 6.82%, while Direxion Daily S&P Biotech Bear 3x Shares (LABD) has a volatility of 29.98%. 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 | 6.82% | 29.98% | -23.16% |
Volatility (6M)Calculated over the trailing 6-month period | 15.72% | 65.23% | -49.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.03% | 78.79% | -58.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.92% | 96.66% | -74.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.87% | 95.97% | -74.10% |
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 0.83%, less than LABD's 9.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IBBQ Invesco Nasdaq Biotechnology ETF | 0.83% | 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 | 9.79% | 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 -0.92, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LABD has higher volatility (29.98%) compared to IBBQ (6.82%). In terms of maximum drawdown, IBBQ dropped -37.94% vs LABD's -99.99%.
On 5-year performance, IBBQ leads with 4.77% vs -43.25% for LABD. On fees, IBBQ is cheaper at 0.00% per year. On volatility, IBBQ has been the lower-risk option at 6.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IBBQ has performed better with a 4.77% return vs -43.25%. 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 9.79%, compared with 0.83% 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 (2.45 vs -1.11), 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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