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 -56.11%/yr vs 5.68%/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 -29.83% return, which is significantly lower than BIB's -0.51% return. Over the past 10 years, LABD has underperformed BIB with an annualized return of -56.11%, while BIB has yielded a comparatively higher 5.68% annualized return.
LABD
- 1D
- -4.73%
- 1M
- 4.70%
- YTD
- -29.83%
- 6M
- -31.22%
- 1Y
- -80.27%
- 3Y*
- -49.85%
- 5Y*
- -41.45%
- 10Y*
- -56.11%
BIB
- 1D
- 3.49%
- 1M
- -3.84%
- YTD
- -0.51%
- 6M
- -3.00%
- 1Y
- 76.61%
- 3Y*
- 14.49%
- 5Y*
- -1.02%
- 10Y*
- 5.68%
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 | -29.83% | -70.07% | -21.43% | -41.77% | -32.68% | 1.86% | -89.75% | -70.80% | -6.26% | -75.67% |
BIB ProShares Ultra Nasdaq Biotechnology | -0.51% | 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 29, 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.
| LABD | BIB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.01 | ||
| Sortino ratioReturn per unit of downside risk | -4.80 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.30 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | 4.55 | -5.52 |
| Martin ratioReturn relative to average drawdown | -1.31 | 14.49 | -15.80 |
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
| LABD | BIB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.06 | 1.95 | -3.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.43 | -0.02 | -0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.59 | 0.12 | -0.71 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.54 | 0.34 | -0.88 |
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 | -83.21% | -16.92% | -66.29% |
Max Drawdown (3Y)Largest decline over 3 years | -95.31% | -45.30% | -50.01% |
Max Drawdown (5Y)Largest decline over 5 years | -98.24% | -65.86% | -32.38% |
Max Drawdown (10Y)Largest decline over 10 years | -99.98% | -66.20% | -33.78% |
Current DrawdownCurrent decline from peak | -99.99% | -26.85% | -73.14% |
Average DrawdownAverage peak-to-trough decline | -90.92% | -32.74% | -58.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 61.36% | 5.30% | +56.06% |
Volatility
LABD vs. BIB - Volatility Comparison
Direxion Daily S&P Biotech Bear 3x Shares (LABD) has a higher volatility of 27.46% compared to ProShares Ultra Nasdaq Biotechnology (BIB) at 13.91%. 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 | 27.46% | 13.91% | +13.55% |
Volatility (6M)Calculated over the trailing 6-month period | 61.67% | 30.57% | +31.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.77% | 39.59% | +36.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.26% | 43.56% | +52.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.93% | 46.50% | +49.43% |
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 6.45%, more than BIB's 0.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BIB ProShares Ultra Nasdaq Biotechnology | 0.62% | 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 | 6.45% | 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 (27.46%) compared to BIB (13.91%). In terms of maximum drawdown, LABD dropped -99.99% vs BIB's -67.24%.
On 10-year performance, BIB leads with 5.68% vs -56.11% for LABD. On fees, BIB is cheaper at 0.95% per year. On volatility, BIB has been the lower-risk option at 13.91%. 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 5.68% return vs -56.11%. 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 6.45%, compared with 0.62% 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 (1.95 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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