LABD vs. SHRT
Compare and contrast key facts about Direxion Daily S&P Biotech Bear 3x Shares (LABD) and Gotham Short Strategies ETF (SHRT).
LABD and SHRT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LABD is a passively managed fund by Direxion that tracks the performance of the S&P Biotechnology Select Industry Index (-300%). It was launched on May 28, 2015. SHRT is an actively managed fund by Gotham. It was launched on Jul 31, 2017.
Performance
LABD vs. SHRT - Performance Comparison
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LABD vs. SHRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
LABD Direxion Daily S&P Biotech Bear 3x Shares | -22.25% | -70.07% | -21.43% | -56.13% |
SHRT Gotham Short Strategies ETF | -2.73% | -0.91% | -1.44% | -5.83% |
Returns By Period
In the year-to-date period, LABD achieves a -22.25% return, which is significantly lower than SHRT's -2.73% return.
LABD
- 1D
- -22.42%
- 1M
- -7.39%
- YTD
- -22.25%
- 6M
- -59.03%
- 1Y
- -82.24%
- 3Y*
- -55.49%
- 5Y*
- -38.61%
- 10Y*
- -57.45%
SHRT
- 1D
- -1.51%
- 1M
- 4.54%
- YTD
- -2.73%
- 6M
- -1.63%
- 1Y
- -8.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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LABD vs. SHRT - Expense Ratio Comparison
LABD has a 1.06% expense ratio, which is lower than SHRT's 1.35% expense ratio.
Return for Risk
LABD vs. SHRT — Risk / Return Rank
LABD
SHRT
LABD vs. SHRT - 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 Gotham Short Strategies ETF (SHRT). 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 | SHRT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.96 | -0.61 | -0.34 |
Sortino ratioReturn per unit of downside risk | -2.04 | -0.84 | -1.21 |
Omega ratioGain probability vs. loss probability | 0.77 | 0.91 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | -0.91 | -0.49 | -0.42 |
Martin ratioReturn relative to average drawdown | -1.17 | -0.89 | -0.28 |
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 | SHRT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.96 | -0.61 | -0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.40 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.60 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.54 | -0.36 | -0.18 |
Correlation
The correlation between LABD and SHRT is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
LABD vs. SHRT - Dividend Comparison
LABD's dividend yield for the trailing twelve months is around 5.82%, more than SHRT's 0.07% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
LABD Direxion Daily S&P Biotech Bear 3x Shares | 5.82% | 6.67% | 4.68% | 6.13% | 0.53% | 0.00% | 3.94% | 1.75% | 0.81% |
SHRT Gotham Short Strategies ETF | 0.07% | 0.07% | 0.85% | 0.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
LABD vs. SHRT - Drawdown Comparison
The maximum LABD drawdown since its inception was -99.99%, which is greater than SHRT's maximum drawdown of -18.97%. Use the drawdown chart below to compare losses from any high point for LABD and SHRT.
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Drawdown Indicators
| LABD | SHRT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -18.97% | -81.02% |
Max Drawdown (1Y)Largest decline over 1 year | -88.09% | -17.65% | -70.44% |
Max Drawdown (5Y)Largest decline over 5 years | -97.73% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.98% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -12.77% | -87.22% |
Average DrawdownAverage peak-to-trough decline | -90.78% | -7.21% | -83.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 68.46% | 9.62% | +58.84% |
Volatility
LABD vs. SHRT - Volatility Comparison
Direxion Daily S&P Biotech Bear 3x Shares (LABD) has a higher volatility of 36.88% compared to Gotham Short Strategies ETF (SHRT) at 6.06%. This indicates that LABD's price experiences larger fluctuations and is considered to be riskier than SHRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LABD | SHRT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 36.88% | 6.06% | +30.82% |
Volatility (6M)Calculated over the trailing 6-month period | 59.06% | 10.51% | +48.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 87.11% | 14.59% | +72.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.40% | 12.66% | +83.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.40% | 12.66% | +83.74% |