LABD vs. BIB
LABD (Direxion Daily S&P Biotech Bear 3x Shares) and BIB (ProShares Ultra Nasdaq Biotechnology) are both Leveraged Equities funds - LABD tracks the S&P Biotechnology Select Industry Index (-300%) while BIB tracks the NASDAQ Biotechnology Index (200%). Both are passively managed. Over the past 10 years, LABD returned -59.09%/yr vs 9.71%/yr for BIB. At a correlation of -0.92, they often move in opposite directions. LABD charges 1.06%/yr vs 0.95%/yr for BIB.
Performance
LABD vs. BIB - Performance Comparison
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Returns By Period
In the year-to-date period, LABD achieves a -53.78% return, which is significantly lower than BIB's 12.50% return. Over the past 10 years, LABD has underperformed BIB with an annualized return of -59.09%, while BIB has yielded a comparatively higher 9.71% annualized 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%
BIB
- 1D
- 1.97%
- 1M
- 9.49%
- YTD
- 12.50%
- 6M
- 8.62%
- 1Y
- 100.86%
- 3Y*
- 19.65%
- 5Y*
- -0.74%
- 10Y*
- 9.71%
LABD vs. BIB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LABD Direxion Daily S&P Biotech Bear 3x Shares | -53.78% | -70.07% | -21.43% | -41.77% | -32.68% | 1.86% | -89.75% | -70.80% | -6.26% | -75.67% |
BIB ProShares Ultra Nasdaq Biotechnology | 12.50% | 59.21% | -9.84% | -1.06% | -28.85% | -6.02% | 39.79% | 46.71% | -24.93% | 40.49% |
Correlation
The correlation between LABD and BIB 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 (10Y) Calculated over the trailing 10-year period | -0.92 |
Correlation (All Time) Calculated using the full available price history since May 28, 2015 | -0.92 |
The correlation between LABD and BIB has been stable across timeframes, ranging from -0.92 to -0.91 - a consistent structural relationship.
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Return for Risk
LABD vs. BIB — Risk / Return Rank
LABD
BIB
LABD vs. BIB - 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 ProShares Ultra Nasdaq Biotechnology (BIB). 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 | BIB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.62 | ||
| Sortino ratioReturn per unit of downside risk | -5.80 | ||
| Omega ratioGain probability vs. loss probability | 0.70 | 1.36 | -0.66 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 5.99 | -7.00 |
| Martin ratioReturn relative to average drawdown | -1.37 | 18.30 | -19.67 |
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Drawdowns
LABD vs. BIB - Drawdown Comparison
The maximum LABD drawdown since its inception was -99.99%, which is greater than BIB's maximum drawdown of -67.24%. Use the drawdown chart below to compare losses from any high point for LABD and BIB.
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Drawdown Indicators
| LABD | BIB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -67.24% | -32.75% |
Max Drawdown (1Y)Largest decline over 1 year | -86.75% | -16.92% | -69.83% |
Max Drawdown (3Y)Largest decline over 3 years | -96.40% | -45.30% | -51.10% |
Max Drawdown (5Y)Largest decline over 5 years | -98.65% | -65.86% | -32.79% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -66.20% | -33.79% |
Current DrawdownCurrent decline from peak | -99.99% | -17.29% | -82.70% |
Average DrawdownAverage peak-to-trough decline | -90.99% | -32.71% | -58.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 64.00% | 5.53% | +58.47% |
Volatility
LABD vs. BIB - Volatility Comparison
Direxion Daily S&P Biotech Bear 3x Shares (LABD) has a higher volatility of 29.98% compared to ProShares Ultra Nasdaq Biotechnology (BIB) at 13.56%. This indicates that LABD's price experiences larger fluctuations and is considered to be riskier than BIB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LABD | BIB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.98% | 13.56% | +16.42% |
Volatility (6M)Calculated over the trailing 6-month period | 65.23% | 31.65% | +33.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 78.79% | 40.43% | +38.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.66% | 43.60% | +53.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.97% | 46.39% | +49.58% |
LABD vs. BIB - Expense Ratio Comparison
LABD has a 1.06% expense ratio, which is higher than BIB's 0.95% expense ratio.
Dividends
LABD vs. BIB - Dividend Comparison
LABD's dividend yield for the trailing twelve months is around 9.79%, more than BIB's 0.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BIB ProShares Ultra Nasdaq Biotechnology | 0.55% | 0.77% | 1.69% | 0.07% | 0.03% | 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
LABD and BIB 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 BIB (13.56%). In terms of maximum drawdown, LABD dropped -99.99% vs BIB's -67.24%.
On 10-year performance, BIB leads with 9.71% vs -59.09% for LABD. On fees, BIB is cheaper at 0.95% per year. On volatility, BIB has been the lower-risk option at 13.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BIB has performed better with a 9.71% return vs -59.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BIB is cheaper with a 0.95% expense ratio, compared with 1.06% for LABD.
LABD has the higher dividend yield at 9.79%, compared with 0.55% for BIB.
LABD tracks S&P Biotechnology Select Industry Index (-300%), while BIB tracks NASDAQ Biotechnology Index (200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.06% for LABD and 0.95% for BIB.
BIB currently has the higher Sharpe Ratio (2.51 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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