LABD vs. PST
LABD (Direxion Daily S&P Biotech Bear 3x Shares) and PST (ProShares UltraShort 7-10 Year Treasury) are both exchange-traded funds - LABD is a Leveraged Equities fund tracking the S&P Biotechnology Select Industry Index (-300%), while PST is a Inverse Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index. Both are passively managed. Over the past 10 years, LABD returned -56.11%/yr vs 2.47%/yr for PST. At a correlation of -0.04, they often move in opposite directions. LABD charges 1.06%/yr vs 0.95%/yr for PST.
Performance
LABD vs. PST - 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 PST's 4.57% return. Over the past 10 years, LABD has underperformed PST with an annualized return of -56.11%, while PST has yielded a comparatively higher 2.47% 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%
PST
- 1D
- 0.51%
- 1M
- 0.80%
- YTD
- 4.57%
- 6M
- 6.73%
- 1Y
- 1.08%
- 3Y*
- 5.59%
- 5Y*
- 9.21%
- 10Y*
- 2.47%
LABD vs. PST - 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% |
PST ProShares UltraShort 7-10 Year Treasury | 4.57% | -4.42% | 12.27% | 3.17% | 38.55% | 4.01% | -18.67% | -11.03% | 1.72% | -4.52% |
Correlation
The correlation between LABD and PST is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | -0.04 |
The correlation between LABD and PST shifts across timeframes, from -0.04 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LABD vs. PST — Risk / Return Rank
LABD
PST
LABD vs. PST - 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 UltraShort 7-10 Year Treasury (PST). 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 | PST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.17 | ||
| Sortino ratioReturn per unit of downside risk | -2.45 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.03 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | 0.15 | -1.12 |
| Martin ratioReturn relative to average drawdown | -1.31 | 0.26 | -1.57 |
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 | PST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.06 | 0.11 | -1.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.43 | 0.59 | -1.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.59 | 0.19 | -0.77 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.54 | -0.37 | -0.17 |
Drawdowns
LABD vs. PST - Drawdown Comparison
The maximum LABD drawdown since its inception was -99.99%, which is greater than PST's maximum drawdown of -79.25%. Use the drawdown chart below to compare losses from any high point for LABD and PST.
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Drawdown Indicators
| LABD | PST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -79.25% | -20.74% |
Max Drawdown (1Y)Largest decline over 1 year | -83.21% | -7.25% | -75.96% |
Max Drawdown (3Y)Largest decline over 3 years | -95.31% | -16.19% | -79.12% |
Max Drawdown (5Y)Largest decline over 5 years | -98.24% | -16.19% | -82.05% |
Max Drawdown (10Y)Largest decline over 10 years | -99.98% | -36.07% | -63.91% |
Current DrawdownCurrent decline from peak | -99.99% | -64.13% | -35.86% |
Average DrawdownAverage peak-to-trough decline | -90.92% | -61.48% | -29.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 61.36% | 4.16% | +57.20% |
Volatility
LABD vs. PST - Volatility Comparison
Direxion Daily S&P Biotech Bear 3x Shares (LABD) has a higher volatility of 27.46% compared to ProShares UltraShort 7-10 Year Treasury (PST) at 3.19%. This indicates that LABD's price experiences larger fluctuations and is considered to be riskier than PST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LABD | PST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.46% | 3.19% | +24.27% |
Volatility (6M)Calculated over the trailing 6-month period | 61.67% | 6.75% | +54.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.77% | 9.62% | +66.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.26% | 15.60% | +80.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.93% | 13.32% | +82.61% |
LABD vs. PST - Expense Ratio Comparison
LABD has a 1.06% expense ratio, which is higher than PST's 0.95% expense ratio.
Dividends
LABD vs. PST - Dividend Comparison
LABD's dividend yield for the trailing twelve months is around 6.45%, more than PST's 3.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
PST ProShares UltraShort 7-10 Year Treasury | 3.08% | 3.47% | 3.61% | 3.69% | 0.02% | 0.00% | 0.11% | 1.85% | 0.66% |
Frequently Asked Questions
LABD and PST have a correlation of 0.22, 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 PST (3.19%). In terms of maximum drawdown, LABD dropped -99.99% vs PST's -79.25%.
On 10-year performance, PST leads with 2.47% vs -56.11% for LABD. On fees, PST is cheaper at 0.95% per year. On volatility, PST has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PST has performed better with a 2.47% return vs -56.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PST 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 3.08% for PST.
LABD is categorized as Leveraged Equities, while PST is Inverse Bonds. LABD tracks S&P Biotechnology Select Industry Index (-300%), while PST tracks ICE U.S. Treasury 7-10 Year Bond Index. They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.06% for LABD and 0.95% for PST.
PST currently has the higher Sharpe Ratio (0.11 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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