LABD vs. SOXL
LABD (Direxion Daily S&P Biotech Bear 3x Shares) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds from Direxion - LABD tracks the S&P Biotechnology Select Industry Index (-300%) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past 10 years, LABD returned -59.09%/yr vs 64.56%/yr for SOXL. At a correlation of -0.51, they often move in opposite directions. LABD charges 1.06%/yr vs 0.75%/yr for SOXL.
Performance
LABD vs. SOXL - 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 SOXL's 450.61% return. Over the past 10 years, LABD has underperformed SOXL with an annualized return of -59.09%, while SOXL has yielded a comparatively higher 64.56% 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%
SOXL
- 1D
- -23.06%
- 1M
- 21.44%
- YTD
- 450.61%
- 6M
- 429.57%
- 1Y
- 976.09%
- 3Y*
- 120.84%
- 5Y*
- 42.16%
- 10Y*
- 64.56%
LABD vs. SOXL - 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% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 450.61% | 54.91% | -12.31% | 226.98% | -85.66% | 118.84% | 70.04% | 231.83% | -39.07% | 141.71% |
Correlation
The correlation between LABD and SOXL is -0.37, 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 | -0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.50 |
Correlation (All Time) Calculated using the full available price history since May 28, 2015 | -0.51 |
The correlation between LABD and SOXL shifts across timeframes, from -0.51 (all time) to -0.37 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LABD vs. SOXL — Risk / Return Rank
LABD
SOXL
LABD vs. SOXL - 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 Direxion Daily Semiconductor Bull 3X ETF (SOXL). 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 | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.55 | ||
| Sortino ratioReturn per unit of downside risk | -6.76 | ||
| Omega ratioGain probability vs. loss probability | 0.70 | 1.58 | -0.88 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 22.69 | -23.69 |
| Martin ratioReturn relative to average drawdown | -1.37 | 72.83 | -74.20 |
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Drawdowns
LABD vs. SOXL - Drawdown Comparison
The maximum LABD drawdown since its inception was -99.99%, which is greater than SOXL's maximum drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for LABD and SOXL.
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Drawdown Indicators
| LABD | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -90.46% | -9.53% |
Max Drawdown (1Y)Largest decline over 1 year | -86.75% | -43.47% | -43.28% |
Max Drawdown (3Y)Largest decline over 3 years | -96.40% | -87.88% | -8.52% |
Max Drawdown (5Y)Largest decline over 5 years | -98.65% | -90.46% | -8.19% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -90.46% | -9.53% |
Current DrawdownCurrent decline from peak | -99.99% | -23.06% | -76.93% |
Average DrawdownAverage peak-to-trough decline | -90.99% | -34.95% | -56.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 64.00% | 13.52% | +50.48% |
Volatility
LABD vs. SOXL - Volatility Comparison
The current volatility for Direxion Daily S&P Biotech Bear 3x Shares (LABD) is 29.98%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 68.39%. This indicates that LABD experiences smaller price fluctuations and is considered to be less risky than SOXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LABD | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.98% | 68.39% | -38.41% |
Volatility (6M)Calculated over the trailing 6-month period | 65.23% | 99.84% | -34.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 78.79% | 116.79% | -38.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.66% | 110.35% | -13.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.97% | 100.62% | -4.65% |
LABD vs. SOXL - Expense Ratio Comparison
LABD has a 1.06% expense ratio, which is higher than SOXL's 0.75% expense ratio.
Dividends
LABD vs. SOXL - Dividend Comparison
LABD's dividend yield for the trailing twelve months is around 9.79%, more than SOXL's 0.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 0.03% | 0.34% | 1.18% | 0.51% | 1.07% | 0.04% | 0.05% | 0.38% | 1.30% | 0.09% | 4.84% |
Frequently Asked Questions
LABD and SOXL have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (68.39%) compared to LABD (29.98%). In terms of maximum drawdown, LABD dropped -99.99% vs SOXL's -90.46%.
On 10-year performance, SOXL leads with 64.56% vs -59.09% for LABD. On fees, SOXL is cheaper at 0.75% per year. On volatility, LABD has been the lower-risk option at 29.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SOXL has performed better with a 64.56% return vs -59.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXL is cheaper with a 0.75% expense ratio, compared with 1.06% for LABD.
LABD has the higher dividend yield at 9.79%, compared with 0.03% for SOXL.
LABD tracks S&P Biotechnology Select Industry Index (-300%), while SOXL tracks ICE Semiconductor Index. Their fees differ too: 1.06% for LABD and 0.75% for SOXL.
SOXL currently has the higher Sharpe Ratio (8.45 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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