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 Index, 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 5.42%/yr vs -46.59%/yr for LABD. Their -0.91 correlation means they have often moved in opposite directions in the past. IBBQ charges 0.19%/yr vs 1.06%/yr for LABD.
Performance
IBBQ vs. LABD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IBBQ achieves a 13.32% return, which is significantly higher than LABD's -55.11% return.
IBBQ
- 1D
- -1.84%
- 1M
- -4.55%
- 6M
- 10.60%
- YTD
- 13.32%
- 1Y
- 44.71%
- 3Y*
- 17.25%
- 5Y*
- 5.42%
- 10Y*
- —
- ALL TIME*
- 5.57%
LABD
- 1D
- 8.48%
- 1M
- 26.56%
- 6M
- -50.76%
- YTD
- -55.11%
- 1Y
- -85.49%
- 3Y*
- -58.18%
- 5Y*
- -46.59%
- 10Y*
- -56.42%
- ALL TIME*
- -55.10%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $517.67K | $836.57K | $727.46K | |
| $66.43M | $107.77M | $90.23M |
IBBQ vs. LABD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IBBQ Invesco Nasdaq Biotechnology ETF | 13.32% | 33.32% | -0.63% | 4.73% | -10.41% | -6.24% |
LABD Direxion Daily S&P Biotech Bear 3x Shares | -55.11% | -70.07% | -21.43% | -41.77% | -32.68% | 33.16% |
Correlation
The correlation between IBBQ and LABD is -0.91, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.91 |
Correlation (3Y) Balances recent behavior with more history. | -0.92 |
Correlation (5Y) Shows whether the relationship held over a longer 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.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
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 | +3.34 | ||
| Sortino ratioReturn per unit of downside risk | +5.66 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 0.72 | +0.65 |
| Calmar ratioReturn relative to maximum drawdown | 5.49 | -0.96 | +6.44 |
| Martin ratioReturn relative to average drawdown | 15.87 | -1.28 | +17.15 |
Loading charts...
Drawdowns
IBBQ vs. LABD - Drawdown Comparison
The maximum IBBQ drawdown since its inception was -37.94%, smaller than the maximum LABD drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for IBBQ and LABD.
Loading charts...
Drawdown Indicators
| IBBQ | LABD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.94% | -100.00% | +62.06% |
Max Drawdown (1Y)Largest decline over 1 year | -8.34% | -89.59% | +81.25% |
Max Drawdown (3Y)Largest decline over 3 years | -23.66% | -97.43% | +73.77% |
Max Drawdown (5Y)Largest decline over 5 years | -37.94% | -99.04% | +61.10% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.99% | — |
Current DrawdownCurrent decline from peak | -6.14% | -99.99% | +93.85% |
Average DrawdownAverage peak-to-trough decline | -16.38% | -91.08% | +74.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.88% | 67.04% | -64.16% |
Volatility
IBBQ vs. LABD - Volatility Comparison
The current volatility for Invesco Nasdaq Biotechnology ETF (IBBQ) is 6.31%, while Direxion Daily S&P Biotech Bear 3x Shares (LABD) has a volatility of 24.34%. 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.
Loading charts...
Volatility by Period
| IBBQ | LABD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.31% | 24.34% | -18.03% |
Volatility (6M)Calculated over the trailing 6-month period | 15.72% | 65.59% | -49.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.18% | 80.29% | -60.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.98% | 96.73% | -74.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.85% | 95.74% | -73.89% |
IBBQ vs. LABD - Expense Ratio Comparison
IBBQ has a 0.19% 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 0.80%, less than LABD's 7.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IBBQ Invesco Nasdaq Biotechnology ETF | 0.80% | 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 | 7.00% | 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 (24.34%) compared to IBBQ (6.31%). In terms of maximum drawdown, IBBQ dropped -37.94% vs LABD's -100.00%.
On 5-year performance, IBBQ leads with 5.42% vs -46.59% for LABD. On fees, IBBQ is cheaper at 0.19% per year. On volatility, IBBQ has been the lower-risk option at 6.31%. 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 5.42% return vs -46.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBBQ is cheaper with a 0.19% expense ratio, compared with 1.06% for LABD.
LABD has the higher dividend yield at 7.00%, compared with 0.80% for IBBQ.
IBBQ is categorized as Health & Biotech Equities, while LABD is Leveraged Equities. IBBQ tracks Nasdaq Biotechnology Index, while LABD tracks S&P Biotechnology Select Industry Index (-300%). They also come from different issuers: Invesco and Direxion. Their fees differ too: 0.19% for IBBQ and 1.06% for LABD.
IBBQ currently has the higher Sharpe Ratio (2.27 vs -1.07), 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.
Find the right allocation for IBBQ and LABD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer