LABD vs. NUGT
LABD (Direxion Daily S&P Biotech Bear 3x Shares) and NUGT (Direxion Daily Gold Miners Index Bull 2X ETF) are both exchange-traded funds - LABD is a Leveraged Equities fund tracking the S&P Biotechnology Select Industry Index (-300%), while NUGT is a Gold fund tracking the MarketVector Global Gold Miners Index (200%). Both are passively managed. Over the past 10 years, LABD returned -59.09%/yr vs -11.63%/yr for NUGT. At a correlation of -0.14, they often move in opposite directions. LABD charges 1.06%/yr vs 1.13%/yr for NUGT.
Performance
LABD vs. NUGT - 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 NUGT's -32.09% return. Over the past 10 years, LABD has underperformed NUGT with an annualized return of -59.09%, while NUGT has yielded a comparatively higher -11.63% 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%
NUGT
- 1D
- -9.53%
- 1M
- -19.60%
- YTD
- -32.09%
- 6M
- -39.03%
- 1Y
- 60.88%
- 3Y*
- 55.65%
- 5Y*
- 17.04%
- 10Y*
- -11.63%
LABD vs. NUGT - 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% |
NUGT Direxion Daily Gold Miners Index Bull 2X ETF | -32.09% | 425.05% | 2.89% | 2.60% | -32.10% | -26.31% | -60.16% | 100.73% | -44.52% | 3.73% |
Correlation
The correlation between LABD and NUGT is -0.31, 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 | -0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.16 |
Correlation (All Time) Calculated using the full available price history since May 28, 2015 | -0.14 |
The correlation between LABD and NUGT shifts across timeframes, from -0.31 (1 year) to -0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
LABD vs. NUGT — Risk / Return Rank
LABD
NUGT
LABD vs. NUGT - 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 Direxion Daily Gold Miners Index Bull 2X ETF (NUGT). 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 | NUGT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -4.07 | ||
| Omega ratioGain probability vs. loss probability | 0.70 | 1.18 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 0.96 | -1.97 |
| Martin ratioReturn relative to average drawdown | -1.37 | 2.30 | -3.68 |
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Drawdowns
LABD vs. NUGT - Drawdown Comparison
The maximum LABD drawdown since its inception was -99.99%, roughly equal to the maximum NUGT drawdown of -99.97%. Use the drawdown chart below to compare losses from any high point for LABD and NUGT.
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Drawdown Indicators
| LABD | NUGT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -99.97% | -0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -86.75% | -63.43% | -23.32% |
Max Drawdown (3Y)Largest decline over 3 years | -96.40% | -63.43% | -32.97% |
Max Drawdown (5Y)Largest decline over 5 years | -98.65% | -73.72% | -24.93% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -96.91% | -3.08% |
Current DrawdownCurrent decline from peak | -99.99% | -99.84% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -90.99% | -91.53% | +0.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 64.00% | 26.52% | +37.48% |
Volatility
LABD vs. NUGT - Volatility Comparison
The current volatility for Direxion Daily S&P Biotech Bear 3x Shares (LABD) is 29.98%, while Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) has a volatility of 35.11%. This indicates that LABD experiences smaller price fluctuations and is considered to be less risky than NUGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LABD | NUGT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.98% | 35.11% | -5.13% |
Volatility (6M)Calculated over the trailing 6-month period | 65.23% | 80.35% | -15.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 78.79% | 94.31% | -15.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.66% | 72.94% | +23.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.97% | 87.97% | +8.00% |
LABD vs. NUGT - Expense Ratio Comparison
LABD has a 1.06% expense ratio, which is lower than NUGT's 1.13% expense ratio.
Dividends
LABD vs. NUGT - Dividend Comparison
LABD's dividend yield for the trailing twelve months is around 9.79%, more than NUGT's 0.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
NUGT Direxion Daily Gold Miners Index Bull 2X ETF | 0.44% | 0.22% | 1.79% | 1.67% | 0.70% | 0.00% | 0.00% | 0.63% | 0.57% |
Frequently Asked Questions
LABD and NUGT have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NUGT has higher volatility (35.11%) compared to LABD (29.98%). In terms of maximum drawdown, LABD dropped -99.99% vs NUGT's -99.97%.
On 10-year performance, NUGT leads with -11.63% vs -59.09% for LABD. On fees, LABD is cheaper at 1.06% per year. On volatility, LABD has been the lower-risk option at 29.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, NUGT has performed better with a -11.63% return vs -59.09%. 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 1.13% for NUGT.
LABD has the higher dividend yield at 9.79%, compared with 0.44% for NUGT.
LABD is categorized as Leveraged Equities, while NUGT is Gold. LABD tracks S&P Biotechnology Select Industry Index (-300%), while NUGT tracks MarketVector Global Gold Miners Index (200%). Their fees differ too: 1.06% for LABD and 1.13% for NUGT.
NUGT currently has the higher Sharpe Ratio (0.65 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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