LABD vs. DLLL
LABD (Direxion Daily S&P Biotech Bear 3x Shares) and DLLL (GraniteShares 2x Long DELL Daily ETF) are both Leveraged Equities funds - LABD tracks the S&P Biotechnology Select Industry Index (-300%) while DLLL tracks the Dell Technologies Inc. (DELL). Both are passively managed. Over the past year, LABD returned -85.49% vs 526.11% for DLLL. Their -0.33 correlation means they have often moved in opposite directions in the past. LABD charges 1.06%/yr vs 1.50%/yr for DLLL.
Performance
LABD vs. DLLL - Performance Comparison
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Returns By Period
In the year-to-date period, LABD achieves a -55.11% return, which is significantly lower than DLLL's 615.57% return.
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%
DLLL
- 1D
- 0.15%
- 1M
- -0.53%
- 6M
- 775.99%
- YTD
- 615.57%
- 1Y
- 526.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 275.30%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $23.39M | $34.88M | $51.04M | |
| $66.43M | $107.77M | $90.23M |
LABD vs. DLLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
LABD Direxion Daily S&P Biotech Bear 3x Shares | -55.11% | -69.56% |
DLLL GraniteShares 2x Long DELL Daily ETF | 615.57% | -3.72% |
Correlation
The correlation between LABD and DLLL is -0.26, 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. | -0.26 |
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025 | -0.33 |
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Return for Risk
LABD vs. DLLL — Risk / Return Rank
LABD
DLLL
LABD vs. DLLL - 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 GraniteShares 2x Long DELL Daily ETF (DLLL). 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 | DLLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.47 | ||
| Sortino ratioReturn per unit of downside risk | -6.10 | ||
| Omega ratioGain probability vs. loss probability | 0.72 | 1.43 | -0.71 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 8.37 | -9.32 |
| Martin ratioReturn relative to average drawdown | -1.28 | 16.29 | -17.56 |
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Drawdowns
LABD vs. DLLL - Drawdown Comparison
The maximum LABD drawdown since its inception was -100.00%, which is greater than DLLL's maximum drawdown of -68.58%. Use the drawdown chart below to compare losses from any high point for LABD and DLLL.
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Drawdown Indicators
| LABD | DLLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -68.58% | -31.42% |
Max Drawdown (1Y)Largest decline over 1 year | -89.59% | -57.19% | -32.40% |
Max Drawdown (3Y)Largest decline over 3 years | -97.43% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -99.04% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -32.31% | -67.68% |
Average DrawdownAverage peak-to-trough decline | -91.08% | -25.81% | -65.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.04% | 29.32% | +37.72% |
Volatility
LABD vs. DLLL - Volatility Comparison
The current volatility for Direxion Daily S&P Biotech Bear 3x Shares (LABD) is 24.34%, while GraniteShares 2x Long DELL Daily ETF (DLLL) has a volatility of 52.08%. This indicates that LABD experiences smaller price fluctuations and is considered to be less risky than DLLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LABD | DLLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.34% | 52.08% | -27.74% |
Volatility (6M)Calculated over the trailing 6-month period | 65.59% | 114.38% | -48.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 80.29% | 140.57% | -60.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.73% | 132.69% | -35.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.74% | 132.69% | -36.95% |
LABD vs. DLLL - Expense Ratio Comparison
LABD has a 1.06% expense ratio, which is lower than DLLL's 1.50% expense ratio.
Dividends
LABD vs. DLLL - Dividend Comparison
LABD's dividend yield for the trailing twelve months is around 7.00%, while DLLL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DLLL GraniteShares 2x Long DELL Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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
LABD and DLLL have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DLLL has higher volatility (52.08%) compared to LABD (24.34%). In terms of maximum drawdown, LABD dropped -100.00% vs DLLL's -68.58%.
On 1-year performance, DLLL leads with 526.11% vs -85.49% for LABD. On fees, LABD is cheaper at 1.06% per year. On volatility, LABD has been the lower-risk option at 24.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DLLL has performed better with a 526.11% return vs -85.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LABD is cheaper with a 1.06% expense ratio, compared with 1.50% for DLLL.
LABD has the higher dividend yield at 7.00%, compared with 0.00% for DLLL.
LABD tracks S&P Biotechnology Select Industry Index (-300%), while DLLL tracks Dell Technologies Inc. (DELL). They also come from different issuers: Direxion and GraniteShares. Their fees differ too: 1.06% for LABD and 1.50% for DLLL.
DLLL currently has the higher Sharpe Ratio (3.40 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.
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