LABD vs. QTAP
LABD (Direxion Daily S&P Biotech Bear 3x Shares) and QTAP (Innovator Growth Accelerated Plus ETF - April) are both Leveraged Equities funds. LABD is passively managed, while QTAP is actively managed. Over the past 5 years, LABD returned -43.25%/yr vs 12.65%/yr for QTAP. At a correlation of -0.49, they often move in opposite directions. LABD charges 1.06%/yr vs 0.79%/yr for QTAP.
Performance
LABD vs. QTAP - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, LABD achieves a -53.78% return, which is significantly lower than QTAP's 12.83% 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%
QTAP
- 1D
- -1.14%
- 1M
- -0.91%
- YTD
- 12.83%
- 6M
- 13.01%
- 1Y
- 22.41%
- 3Y*
- 19.78%
- 5Y*
- 12.65%
- 10Y*
- —
LABD vs. QTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
LABD Direxion Daily S&P Biotech Bear 3x Shares | -53.78% | -70.07% | -21.43% | -41.77% | -32.68% | 18.40% |
QTAP Innovator Growth Accelerated Plus ETF - April | 12.83% | 19.36% | 17.34% | 43.32% | -25.87% | 15.95% |
Correlation
The correlation between LABD and QTAP is -0.34, 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 | -0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.49 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021 | -0.49 |
The correlation between LABD and QTAP shifts across timeframes, from -0.49 (5 years) to -0.34 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
LABD vs. QTAP — Risk / Return Rank
LABD
QTAP
LABD vs. QTAP - 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 Innovator Growth Accelerated Plus ETF - April (QTAP). 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 | QTAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.80 | ||
| Sortino ratioReturn per unit of downside risk | -8.75 | ||
| Omega ratioGain probability vs. loss probability | 0.70 | 1.94 | -1.24 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 9.04 | -10.04 |
| Martin ratioReturn relative to average drawdown | -1.37 | 52.85 | -54.22 |
Loading charts...
Drawdowns
LABD vs. QTAP - Drawdown Comparison
The maximum LABD drawdown since its inception was -99.99%, which is greater than QTAP's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for LABD and QTAP.
Loading charts...
Drawdown Indicators
| LABD | QTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -29.44% | -70.55% |
Max Drawdown (1Y)Largest decline over 1 year | -86.75% | -2.49% | -84.26% |
Max Drawdown (3Y)Largest decline over 3 years | -96.40% | -13.03% | -83.37% |
Max Drawdown (5Y)Largest decline over 5 years | -98.65% | -29.44% | -69.21% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -1.70% | -98.29% |
Average DrawdownAverage peak-to-trough decline | -90.99% | -4.99% | -86.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 64.00% | 0.43% | +63.57% |
Volatility
LABD vs. QTAP - Volatility Comparison
Direxion Daily S&P Biotech Bear 3x Shares (LABD) has a higher volatility of 29.98% compared to Innovator Growth Accelerated Plus ETF - April (QTAP) at 3.03%. This indicates that LABD's price experiences larger fluctuations and is considered to be riskier than QTAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| LABD | QTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.98% | 3.03% | +26.95% |
Volatility (6M)Calculated over the trailing 6-month period | 65.23% | 4.94% | +60.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 78.79% | 6.12% | +72.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.66% | 18.92% | +77.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.97% | 18.72% | +77.25% |
LABD vs. QTAP - Expense Ratio Comparison
LABD has a 1.06% expense ratio, which is higher than QTAP's 0.79% expense ratio.
Dividends
LABD vs. QTAP - Dividend Comparison
LABD's dividend yield for the trailing twelve months is around 9.79%, while QTAP has not paid dividends to shareholders.
| 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% |
QTAP Innovator Growth Accelerated Plus ETF - April | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LABD and QTAP have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LABD has higher volatility (29.98%) compared to QTAP (3.03%). In terms of maximum drawdown, LABD dropped -99.99% vs QTAP's -29.44%.
On 5-year performance, QTAP leads with 12.65% vs -43.25% for LABD. On fees, QTAP is cheaper at 0.79% per year. On volatility, QTAP has been the lower-risk option at 3.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QTAP has performed better with a 12.65% return vs -43.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QTAP is cheaper with a 0.79% expense ratio, compared with 1.06% for LABD.
LABD has the higher dividend yield at 9.79%, compared with 0.00% for QTAP.
They also come from different issuers: Direxion and Innovator. Their fees differ too: 1.06% for LABD and 0.79% for QTAP.
QTAP currently has the higher Sharpe Ratio (3.70 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.
Find the right allocation for LABD and QTAP
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer