LABD vs. ASMG

Last updated Jun 24, 2026

LABD (Direxion Daily S&P Biotech Bear 3x Shares) and ASMG (Leverage Shares 2X Long ASML Daily ETF) are both Leveraged Equities funds. LABD is passively managed, while ASMG is actively managed. Over the past year, LABD returned -87.04% vs 284.81% for ASMG. At a correlation of -0.38, they often move in opposite directions. LABD charges 1.06%/yr vs 0.75%/yr for ASMG.

Performance

LABD vs. ASMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily S&P Biotech Bear 3x Shares (LABD) and Leverage Shares 2X Long ASML Daily ETF (ASMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LABD achieves a -53.78% return, which is significantly lower than ASMG's 132.71% return.

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%

ASMG

• 1D: -15.76%
• 1M: 13.68%
• YTD: 132.71%
• 6M: 134.72%
• 1Y: 284.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LABD vs. ASMG - Yearly Performance Comparison

	2026 (YTD)	2025
LABD Direxion Daily S&P Biotech Bear 3x Shares	-53.78%	-70.95%
ASMG Leverage Shares 2X Long ASML Daily ETF	132.71%	62.68%

Correlation

The correlation between LABD and ASMG is -0.34, 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	-0.34
Correlation (All Time) Calculated using the full available price history since Jan 14, 2025	-0.38

Return for Risk

LABD vs. ASMG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LABD

LABD Risk / Return Rank: 1
LABD Sharpe Ratio Rank: 1
LABD Sortino Ratio Rank: 0
LABD Omega Ratio Rank: 0
LABD Calmar Ratio Rank: 0
LABD Martin Ratio Rank: 2

ASMG

ASMG Risk / Return Rank: 86
ASMG Sharpe Ratio Rank: 94
ASMG Sortino Ratio Rank: 77
ASMG Omega Ratio Rank: 71
ASMG Calmar Ratio Rank: 96
ASMG Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LABD vs. ASMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P Biotech Bear 3x Shares (LABD) and Leverage Shares 2X Long ASML Daily ETF (ASMG). 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.

	LABD	ASMG	Difference
Sharpe ratio: Return per unit of total volatility	-1.11	3.28	-4.39
Sortino ratio: Return per unit of downside risk	-2.73	3.14	-5.87
Omega ratio: Gain probability vs. loss probability	0.70	1.39	-0.69
Calmar ratio: Return relative to maximum drawdown	-1.00	8.30	-9.30
Martin ratio: Return relative to average drawdown	-1.37	20.59	-21.96

LABD vs. ASMG - Sharpe Ratio Comparison

The current LABD Sharpe Ratio is -1.11, which is lower than the ASMG Sharpe Ratio of 3.28. The chart below compares the historical Sharpe Ratios of LABD and ASMG, 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

LABD vs. ASMG - Drawdown Comparison

The maximum LABD drawdown since its inception was -99.99%, which is greater than ASMG's maximum drawdown of -43.95%. Use the drawdown chart below to compare losses from any high point for LABD and ASMG.

Drawdown Indicators

	LABD	ASMG	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-43.95%	-56.04%
Max Drawdown (1Y) Largest decline over 1 year	-86.75%	-34.56%	-52.19%
Max Drawdown (3Y) Largest decline over 3 years	-96.40%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-98.65%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.99%	—	—
Current Drawdown Current decline from peak	-99.99%	-15.94%	-84.05%
Average Drawdown Average peak-to-trough decline	-90.99%	-12.92%	-78.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	64.00%	13.90%	+50.10%

Volatility

LABD vs. ASMG - Volatility Comparison

The current volatility for Direxion Daily S&P Biotech Bear 3x Shares (LABD) is 29.98%, while Leverage Shares 2X Long ASML Daily ETF (ASMG) has a volatility of 37.34%. This indicates that LABD experiences smaller price fluctuations and is considered to be less risky than ASMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LABD	ASMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.98%	37.34%	-7.36%
Volatility (6M) Calculated over the trailing 6-month period	65.23%	70.58%	-5.35%
Volatility (1Y) Calculated over the trailing 1-year period	78.79%	87.62%	-8.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	96.66%	87.74%	+8.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.97%	87.74%	+8.23%

LABD vs. ASMG - Expense Ratio Comparison

LABD has a 1.06% expense ratio, which is higher than ASMG's 0.75% expense ratio.

Dividends

LABD vs. ASMG - Dividend Comparison

LABD's dividend yield for the trailing twelve months is around 9.79%, more than ASMG's 4.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ASMG Leverage Shares 2X Long ASML Daily ETF	4.81%	11.20%	0.00%	0.00%	0.00%	0.00%	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

Can I hold both LABD and ASMG in my portfolio?

LABD and ASMG 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.

Which is riskier, LABD or ASMG?

ASMG has higher volatility (37.34%) compared to LABD (29.98%). In terms of maximum drawdown, LABD dropped -99.99% vs ASMG's -43.95%.

Which ETF is better, LABD or ASMG?

On 1-year performance, ASMG leads with 284.81% vs -87.04% for LABD. On fees, ASMG is cheaper at 0.75% per year. On volatility, LABD has been the lower-risk option at 29.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LABD or ASMG?

Over the 1-year period, ASMG has performed better with a 284.81% return vs -87.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LABD or ASMG?

ASMG is cheaper with a 0.75% expense ratio, compared with 1.06% for LABD.

Which ETF pays a higher dividend yield, LABD or ASMG?

LABD has the higher dividend yield at 9.79%, compared with 4.81% for ASMG.

What is the main difference between LABD and ASMG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.06% for LABD and 0.75% for ASMG.

Which has better risk-adjusted returns?

ASMG currently has the higher Sharpe Ratio (3.28 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.