LABD vs. SBIO
LABD (Direxion Daily S&P Biotech Bear 3x Shares) and SBIO (ALPS Medical Breakthroughs ETF) are both exchange-traded funds - LABD is a Leveraged Equities fund tracking the S&P Biotechnology Select Industry Index (-300%), while SBIO is a Health & Biotech Equities fund tracking the S-Network Medical Breakthroughs Index. Both are passively managed. Over the past 10 years, LABD returned -58.05%/yr vs 11.19%/yr for SBIO. At a correlation of -0.95, they often move in opposite directions. LABD charges 1.06%/yr vs 0.50%/yr for SBIO.
Performance
LABD vs. SBIO - 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 SBIO's 23.86% return. Over the past 10 years, LABD has underperformed SBIO with an annualized return of -58.05%, while SBIO has yielded a comparatively higher 11.19% annualized 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%
SBIO
- 1D
- -3.19%
- 1M
- 19.11%
- 6M
- 23.86%
- YTD
- 23.86%
- 1Y
- 91.90%
- 3Y*
- 26.50%
- 5Y*
- 7.62%
- 10Y*
- 11.19%
LABD vs. SBIO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LABD Direxion Daily S&P Biotech Bear 3x Shares | -58.72% | -70.07% | -21.43% | -41.77% | -32.68% | 1.86% | -89.75% | -70.80% | -6.26% | -75.67% |
SBIO ALPS Medical Breakthroughs ETF | 23.86% | 55.07% | 3.81% | 8.68% | -28.08% | -17.55% | 21.17% | 50.30% | -11.81% | 45.67% |
Correlation
The correlation between LABD and SBIO is -0.95, 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 | -0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.95 |
Correlation (All Time) Calculated using the full available price history since May 28, 2015 | -0.95 |
The correlation between LABD and SBIO has been stable across timeframes, ranging from -0.95 to -0.94 - a consistent structural relationship.
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Return for Risk
LABD vs. SBIO — Risk / Return Rank
LABD
SBIO
LABD vs. SBIO - 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 ALPS Medical Breakthroughs ETF (SBIO). 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 | SBIO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.11 | ||
| Sortino ratioReturn per unit of downside risk | -6.42 | ||
| Omega ratioGain probability vs. loss probability | 0.72 | 1.46 | -0.74 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 7.30 | -8.26 |
| Martin ratioReturn relative to average drawdown | -1.33 | 20.11 | -21.43 |
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Drawdowns
LABD vs. SBIO - Drawdown Comparison
The maximum LABD drawdown since its inception was -100.00%, which is greater than SBIO's maximum drawdown of -63.06%. Use the drawdown chart below to compare losses from any high point for LABD and SBIO.
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Drawdown Indicators
| LABD | SBIO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -63.06% | -36.94% |
Max Drawdown (1Y)Largest decline over 1 year | -89.59% | -12.66% | -76.93% |
Max Drawdown (3Y)Largest decline over 3 years | -97.43% | -42.44% | -54.99% |
Max Drawdown (5Y)Largest decline over 5 years | -99.04% | -52.49% | -46.55% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -63.06% | -36.93% |
Current DrawdownCurrent decline from peak | -99.99% | -7.98% | -92.01% |
Average DrawdownAverage peak-to-trough decline | -91.04% | -28.22% | -62.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 64.54% | 4.59% | +59.95% |
Volatility
LABD vs. SBIO - Volatility Comparison
Direxion Daily S&P Biotech Bear 3x Shares (LABD) has a higher volatility of 25.77% compared to ALPS Medical Breakthroughs ETF (SBIO) at 10.80%. This indicates that LABD's price experiences larger fluctuations and is considered to be riskier than SBIO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LABD | SBIO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.77% | 10.80% | +14.97% |
Volatility (6M)Calculated over the trailing 6-month period | 65.70% | 24.13% | +41.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 79.35% | 30.61% | +48.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.77% | 33.88% | +62.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.75% | 33.16% | +62.59% |
LABD vs. SBIO - Expense Ratio Comparison
LABD has a 1.06% expense ratio, which is higher than SBIO's 0.50% expense ratio.
Dividends
LABD vs. SBIO - Dividend Comparison
LABD's dividend yield for the trailing twelve months is around 7.61%, while SBIO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
SBIO ALPS Medical Breakthroughs ETF | 0.00% | 0.00% | 3.55% | 0.22% | 0.00% | 0.00% | 0.00% | 0.04% | 2.79% | 1.77% |
Frequently Asked Questions
LABD and SBIO have a correlation of -0.95, 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 SBIO (10.80%). In terms of maximum drawdown, LABD dropped -100.00% vs SBIO's -63.06%.
On 10-year performance, SBIO leads with 11.19% vs -58.05% for LABD. On fees, SBIO is cheaper at 0.50% per year. On volatility, SBIO has been the lower-risk option at 10.80%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SBIO has performed better with a 11.19% return vs -58.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SBIO is cheaper with a 0.50% expense ratio, compared with 1.06% for LABD.
LABD has the higher dividend yield at 7.61%, compared with 0.00% for SBIO.
LABD is categorized as Leveraged Equities, while SBIO is Health & Biotech Equities. LABD tracks S&P Biotechnology Select Industry Index (-300%), while SBIO tracks S-Network Medical Breakthroughs Index. They also come from different issuers: Direxion and SS&C. Their fees differ too: 1.06% for LABD and 0.50% for SBIO.
SBIO currently has the higher Sharpe Ratio (3.02 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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