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 -59.09%/yr vs 11.23%/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 -53.78% return, which is significantly lower than SBIO's 15.46% return. Over the past 10 years, LABD has underperformed SBIO with an annualized return of -59.09%, while SBIO has yielded a comparatively higher 11.23% 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%
SBIO
- 1D
- 0.82%
- 1M
- 10.96%
- YTD
- 15.46%
- 6M
- 14.04%
- 1Y
- 97.46%
- 3Y*
- 24.04%
- 5Y*
- 4.26%
- 10Y*
- 11.23%
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 | -53.78% | -70.07% | -21.43% | -41.77% | -32.68% | 1.86% | -89.75% | -70.80% | -6.26% | -75.67% |
SBIO ALPS Medical Breakthroughs ETF | 15.46% | 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 | -0.93 |
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 -0.93 - 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 | -4.33 | ||
| Sortino ratioReturn per unit of downside risk | -6.81 | ||
| Omega ratioGain probability vs. loss probability | 0.70 | 1.48 | -0.78 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 7.74 | -8.75 |
| Martin ratioReturn relative to average drawdown | -1.37 | 21.59 | -22.96 |
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Drawdowns
LABD vs. SBIO - Drawdown Comparison
The maximum LABD drawdown since its inception was -99.99%, 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 | -99.99% | -63.06% | -36.93% |
Max Drawdown (1Y)Largest decline over 1 year | -86.75% | -12.66% | -74.09% |
Max Drawdown (3Y)Largest decline over 3 years | -96.40% | -42.44% | -53.96% |
Max Drawdown (5Y)Largest decline over 5 years | -98.65% | -53.10% | -45.55% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -63.06% | -36.93% |
Current DrawdownCurrent decline from peak | -99.99% | -3.55% | -96.44% |
Average DrawdownAverage peak-to-trough decline | -90.99% | -28.37% | -62.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 64.00% | 4.53% | +59.47% |
Volatility
LABD vs. SBIO - Volatility Comparison
Direxion Daily S&P Biotech Bear 3x Shares (LABD) has a higher volatility of 29.98% compared to ALPS Medical Breakthroughs ETF (SBIO) at 11.06%. 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 | 29.98% | 11.06% | +18.92% |
Volatility (6M)Calculated over the trailing 6-month period | 65.23% | 23.78% | +41.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 78.79% | 30.40% | +48.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.66% | 33.75% | +62.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.97% | 33.19% | +62.78% |
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 9.79%, 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 | 9.79% | 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 (29.98%) compared to SBIO (11.06%). In terms of maximum drawdown, LABD dropped -99.99% vs SBIO's -63.06%.
On 10-year performance, SBIO leads with 11.23% vs -59.09% for LABD. On fees, SBIO is cheaper at 0.50% per year. On volatility, SBIO has been the lower-risk option at 11.06%. 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 11.23% return vs -59.09%. 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 9.79%, 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 (3.22 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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