LABD vs. QQQ
LABD (Direxion Daily S&P Biotech Bear 3x Shares) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - LABD is a Leveraged Equities fund tracking the S&P Biotechnology Select Industry Index (-300%), while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, LABD returned -58.96%/yr vs 22.48%/yr for QQQ. At a correlation of -0.57, they often move in opposite directions. LABD charges 1.06%/yr vs 0.18%/yr for QQQ.
Performance
LABD vs. QQQ - Performance Comparison
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Returns By Period
In the year-to-date period, LABD achieves a -52.30% return, which is significantly lower than QQQ's 20.41% return. Over the past 10 years, LABD has underperformed QQQ with an annualized return of -58.96%, while QQQ has yielded a comparatively higher 22.48% annualized return.
LABD
- 1D
- -11.43%
- 1M
- -30.12%
- YTD
- -52.30%
- 6M
- -47.57%
- 1Y
- -86.60%
- 3Y*
- -56.54%
- 5Y*
- -43.68%
- 10Y*
- -58.96%
QQQ
- 1D
- -0.25%
- 1M
- 2.96%
- YTD
- 20.41%
- 6M
- 19.46%
- 1Y
- 40.91%
- 3Y*
- 27.47%
- 5Y*
- 16.94%
- 10Y*
- 22.48%
LABD vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LABD Direxion Daily S&P Biotech Bear 3x Shares | -52.30% | -70.07% | -21.43% | -41.77% | -32.68% | 1.86% | -89.75% | -70.80% | -6.26% | -75.67% |
QQQ Invesco QQQ ETF | 20.41% | 20.77% | 25.58% | 54.86% | -32.58% | 27.42% | 48.62% | 38.96% | -0.13% | 32.66% |
Correlation
The correlation between LABD and QQQ is -0.42, 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 | -0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.56 |
Correlation (All Time) Calculated using the full available price history since May 28, 2015 | -0.57 |
The correlation between LABD and QQQ shifts across timeframes, from -0.57 (all time) to -0.42 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LABD vs. QQQ — Risk / Return Rank
LABD
QQQ
LABD vs. QQQ - 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 Invesco QQQ ETF (QQQ). 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 | QQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.43 | ||
| Sortino ratioReturn per unit of downside risk | -5.71 | ||
| Omega ratioGain probability vs. loss probability | 0.70 | 1.41 | -0.70 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 3.44 | -4.44 |
| Martin ratioReturn relative to average drawdown | -1.36 | 12.79 | -14.14 |
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Drawdowns
LABD vs. QQQ - Drawdown Comparison
The maximum LABD drawdown since its inception was -99.99%, which is greater than QQQ's maximum drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for LABD and QQQ.
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Drawdown Indicators
| LABD | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -82.97% | -17.02% |
Max Drawdown (1Y)Largest decline over 1 year | -86.62% | -11.96% | -74.66% |
Max Drawdown (3Y)Largest decline over 3 years | -96.29% | -22.77% | -73.52% |
Max Drawdown (5Y)Largest decline over 5 years | -98.61% | -35.12% | -63.49% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -35.12% | -64.87% |
Current DrawdownCurrent decline from peak | -99.99% | -0.99% | -99.00% |
Average DrawdownAverage peak-to-trough decline | -90.99% | -32.73% | -58.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 63.77% | 3.21% | +60.56% |
Volatility
LABD vs. QQQ - Volatility Comparison
Direxion Daily S&P Biotech Bear 3x Shares (LABD) has a higher volatility of 29.95% compared to Invesco QQQ ETF (QQQ) at 8.47%. This indicates that LABD's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LABD | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.95% | 8.47% | +21.48% |
Volatility (6M)Calculated over the trailing 6-month period | 65.24% | 14.20% | +51.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 78.91% | 17.67% | +61.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.66% | 22.64% | +74.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.07% | 22.43% | +73.64% |
LABD vs. QQQ - Expense Ratio Comparison
LABD has a 1.06% expense ratio, which is higher than QQQ's 0.18% expense ratio.
Dividends
LABD vs. QQQ - Dividend Comparison
LABD's dividend yield for the trailing twelve months is around 9.48%, more than QQQ's 0.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LABD Direxion Daily S&P Biotech Bear 3x Shares | 9.48% | 6.67% | 4.68% | 6.13% | 0.53% | 0.00% | 3.94% | 1.75% | 0.81% | 0.00% | 0.00% | 0.00% |
QQQ Invesco QQQ ETF | 0.49% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
Frequently Asked Questions
LABD and QQQ have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LABD has higher volatility (29.95%) compared to QQQ (8.47%). In terms of maximum drawdown, LABD dropped -99.99% vs QQQ's -82.97%.
On 10-year performance, QQQ leads with 22.48% vs -58.96% for LABD. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 8.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QQQ has performed better with a 22.48% return vs -58.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQ is cheaper with a 0.18% expense ratio, compared with 1.06% for LABD.
LABD has the higher dividend yield at 9.48%, compared with 0.49% for QQQ.
LABD is categorized as Leveraged Equities, while QQQ is Nasdaq-100. LABD tracks S&P Biotechnology Select Industry Index (-300%), while QQQ tracks NASDAQ-100 Index. They also come from different issuers: Direxion and Invesco. Their fees differ too: 1.06% for LABD and 0.18% for QQQ.
QQQ currently has the higher Sharpe Ratio (2.33 vs -1.10), 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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