LABD vs. IFED
LABD (Direxion Daily S&P Biotech Bear 3x Shares) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds - LABD tracks the S&P Biotechnology Select Industry Index (-300%) while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, LABD returned -49.85%/yr vs 16.71%/yr for IFED. At a correlation of -0.52, they often move in opposite directions. LABD charges 1.06%/yr vs 0.45%/yr for IFED.
Performance
LABD vs. IFED - 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 IFED's -3.52% 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%
IFED
- 1D
- -1.24%
- 1M
- 4.85%
- YTD
- -3.52%
- 6M
- -3.51%
- 1Y
- 1.97%
- 3Y*
- 16.71%
- 5Y*
- —
- 10Y*
- —
LABD vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
LABD Direxion Daily S&P Biotech Bear 3x Shares | -29.83% | -70.07% | -21.43% | -41.77% | -32.68% | 31.39% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | -3.52% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
Correlation
The correlation between LABD and IFED is -0.39, 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 | -0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.49 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2021 | -0.52 |
The correlation between LABD and IFED shifts across timeframes, from -0.52 (all time) to -0.39 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LABD vs. IFED — Risk / Return Rank
LABD
IFED
LABD vs. IFED - 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 ETRACS IFED Invest with the Fed TR Index ETN (IFED). 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 | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -2.51 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.04 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | 0.14 | -1.10 |
| Martin ratioReturn relative to average drawdown | -1.31 | 0.34 | -1.65 |
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 | IFED | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.06 | 0.12 | -1.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.43 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.59 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.54 | 0.65 | -1.19 |
Drawdowns
LABD vs. IFED - Drawdown Comparison
The maximum LABD drawdown since its inception was -99.99%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for LABD and IFED.
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Drawdown Indicators
| LABD | IFED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -22.36% | -77.63% |
Max Drawdown (1Y)Largest decline over 1 year | -83.21% | -14.65% | -68.56% |
Max Drawdown (3Y)Largest decline over 3 years | -95.31% | -22.36% | -72.95% |
Max Drawdown (5Y)Largest decline over 5 years | -98.24% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.98% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -5.50% | -94.49% |
Average DrawdownAverage peak-to-trough decline | -90.92% | -5.84% | -85.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 61.36% | 5.75% | +55.61% |
Volatility
LABD vs. IFED - Volatility Comparison
Direxion Daily S&P Biotech Bear 3x Shares (LABD) has a higher volatility of 27.46% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 4.50%. This indicates that LABD's price experiences larger fluctuations and is considered to be riskier than IFED based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LABD | IFED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.46% | 4.50% | +22.96% |
Volatility (6M)Calculated over the trailing 6-month period | 61.67% | 12.86% | +48.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.77% | 16.21% | +59.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.26% | 19.88% | +76.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.93% | 19.88% | +76.05% |
LABD vs. IFED - Expense Ratio Comparison
LABD has a 1.06% expense ratio, which is higher than IFED's 0.45% expense ratio.
Dividends
LABD vs. IFED - Dividend Comparison
LABD's dividend yield for the trailing twelve months is around 6.45%, while IFED has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IFED ETRACS IFED Invest with the Fed TR Index ETN | 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 | 6.45% | 6.67% | 4.68% | 6.13% | 0.53% | 0.00% | 3.94% | 1.75% | 0.81% |
Frequently Asked Questions
LABD and IFED have a correlation of -0.39, 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 IFED (4.50%). In terms of maximum drawdown, LABD dropped -99.99% vs IFED's -22.36%.
On 3-year performance, IFED leads with 16.71% vs -49.85% for LABD. On fees, IFED is cheaper at 0.45% per year. On volatility, IFED has been the lower-risk option at 4.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IFED has performed better with a 16.71% return vs -49.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IFED is cheaper with a 0.45% expense ratio, compared with 1.06% for LABD.
LABD has the higher dividend yield at 6.45%, compared with 0.00% for IFED.
LABD tracks S&P Biotechnology Select Industry Index (-300%), while IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross. They also come from different issuers: Direxion and UBS. Their fees differ too: 1.06% for LABD and 0.45% for IFED.
IFED currently has the higher Sharpe Ratio (0.12 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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