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 -58.22%/yr vs 14.75%/yr for IFED. At a correlation of -0.51, 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 -58.72% return, which is significantly lower than IFED's -2.92% return.
LABD
- 1D
- 8.60%
- 1M
- -31.85%
- 6M
- -55.64%
- YTD
- -58.72%
- 1Y
- -85.70%
- 3Y*
- -58.22%
- 5Y*
- -47.09%
- 10Y*
- -58.05%
IFED
- 1D
- 0.81%
- 1M
- -0.83%
- 6M
- -2.70%
- YTD
- -2.92%
- 1Y
- 0.79%
- 3Y*
- 14.75%
- 5Y*
- —
- 10Y*
- —
LABD vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
LABD Direxion Daily S&P Biotech Bear 3x Shares | -58.72% | -70.07% | -21.43% | -41.77% | -32.68% | 27.87% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | -2.92% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
Correlation
The correlation between LABD and IFED is -0.36, 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 | -0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.47 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | -0.51 |
The correlation between LABD and IFED shifts across timeframes, from -0.51 (all time) to -0.36 (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.
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 | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.13 | ||
| Sortino ratioReturn per unit of downside risk | -2.78 | ||
| Omega ratioGain probability vs. loss probability | 0.72 | 1.02 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 0.05 | -1.01 |
| Martin ratioReturn relative to average drawdown | -1.33 | 0.13 | -1.46 |
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Drawdowns
LABD vs. IFED - Drawdown Comparison
The maximum LABD drawdown since its inception was -100.00%, 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 | -100.00% | -22.36% | -77.64% |
Max Drawdown (1Y)Largest decline over 1 year | -89.59% | -14.65% | -74.94% |
Max Drawdown (3Y)Largest decline over 3 years | -97.43% | -22.36% | -75.07% |
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% | -4.91% | -95.08% |
Average DrawdownAverage peak-to-trough decline | -91.04% | -5.83% | -85.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 64.54% | 6.04% | +58.50% |
Volatility
LABD vs. IFED - Volatility Comparison
Direxion Daily S&P Biotech Bear 3x Shares (LABD) has a higher volatility of 25.77% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 6.87%. 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 | 25.77% | 6.87% | +18.90% |
Volatility (6M)Calculated over the trailing 6-month period | 65.70% | 15.11% | +50.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 79.35% | 17.72% | +61.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.77% | 20.00% | +76.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.75% | 20.00% | +75.75% |
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 7.61%, 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 | 7.61% | 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 -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LABD has higher volatility (25.77%) compared to IFED (6.87%). In terms of maximum drawdown, LABD dropped -100.00% vs IFED's -22.36%.
On 3-year performance, IFED leads with 14.75% vs -58.22% for LABD. On fees, IFED is cheaper at 0.45% per year. On volatility, IFED has been the lower-risk option at 6.87%. 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 14.75% return vs -58.22%. 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 7.61%, 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 (0.04 vs -1.08), 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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