LABD vs. TECL
LABD (Direxion Daily S&P Biotech Bear 3x Shares) and TECL (Direxion Daily Technology Bull 3X Shares) are both Leveraged Equities funds from Direxion - LABD tracks the S&P Biotechnology Select Industry Index (-300%) while TECL tracks the Technology Select Sector Index (300%). Both are passively managed. Over the past 10 years, LABD returned -56.11%/yr vs 54.49%/yr for TECL. At a correlation of -0.52, they often move in opposite directions. LABD charges 1.06%/yr vs 0.91%/yr for TECL.
Performance
LABD vs. TECL - Performance Comparison
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Returns By Period
In the year-to-date period, LABD achieves a -29.83% return, which is significantly lower than TECL's 125.87% return. Over the past 10 years, LABD has underperformed TECL with an annualized return of -56.11%, while TECL has yielded a comparatively higher 54.49% annualized return.
LABD
- 1D
- -4.73%
- 1M
- 4.70%
- YTD
- -29.83%
- 6M
- -31.22%
- 1Y
- -80.27%
- 3Y*
- -49.85%
- 5Y*
- -41.45%
- 10Y*
- -56.11%
TECL
- 1D
- -2.99%
- 1M
- 73.10%
- YTD
- 125.87%
- 6M
- 118.69%
- 1Y
- 267.85%
- 3Y*
- 80.64%
- 5Y*
- 43.44%
- 10Y*
- 54.49%
LABD vs. TECL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LABD Direxion Daily S&P Biotech Bear 3x Shares | -29.83% | -70.07% | -21.43% | -41.77% | -32.68% | 1.86% | -89.75% | -70.80% | -6.26% | -75.67% |
TECL Direxion Daily Technology Bull 3X Shares | 125.87% | 38.60% | 36.15% | 203.14% | -74.32% | 112.80% | 69.46% | 185.58% | -24.03% | 124.82% |
Correlation
The correlation between LABD and TECL is -0.38, 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 | -0.38 |
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 | -0.51 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | -0.52 |
The correlation between LABD and TECL shifts across timeframes, from -0.52 (all time) to -0.38 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LABD vs. TECL — Risk / Return Rank
LABD
TECL
LABD vs. TECL - 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 Technology Bull 3X Shares (TECL). 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 | TECL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.41 | ||
| Sortino ratioReturn per unit of downside risk | -5.88 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.48 | -0.73 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | 5.79 | -6.76 |
| Martin ratioReturn relative to average drawdown | -1.31 | 16.63 | -17.94 |
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 | TECL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.06 | 4.35 | -5.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.43 | 0.59 | -1.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.59 | 0.76 | -1.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.54 | 0.76 | -1.31 |
Drawdowns
LABD vs. TECL - Drawdown Comparison
The maximum LABD drawdown since its inception was -99.99%, which is greater than TECL's maximum drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for LABD and TECL.
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Drawdown Indicators
| LABD | TECL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -77.96% | -22.03% |
Max Drawdown (1Y)Largest decline over 1 year | -83.21% | -46.58% | -36.63% |
Max Drawdown (3Y)Largest decline over 3 years | -95.31% | -66.58% | -28.73% |
Max Drawdown (5Y)Largest decline over 5 years | -98.24% | -77.96% | -20.28% |
Max Drawdown (10Y)Largest decline over 10 years | -99.98% | -77.96% | -22.02% |
Current DrawdownCurrent decline from peak | -99.99% | -2.99% | -97.00% |
Average DrawdownAverage peak-to-trough decline | -90.92% | -18.38% | -72.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 61.36% | 16.19% | +45.17% |
Volatility
LABD vs. TECL - Volatility Comparison
Direxion Daily S&P Biotech Bear 3x Shares (LABD) has a higher volatility of 27.46% compared to Direxion Daily Technology Bull 3X Shares (TECL) at 20.70%. This indicates that LABD's price experiences larger fluctuations and is considered to be riskier than TECL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LABD | TECL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.46% | 20.70% | +6.76% |
Volatility (6M)Calculated over the trailing 6-month period | 61.67% | 49.83% | +11.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.77% | 62.17% | +13.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.26% | 74.09% | +22.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.93% | 72.35% | +23.58% |
LABD vs. TECL - Expense Ratio Comparison
LABD has a 1.06% expense ratio, which is higher than TECL's 0.91% expense ratio.
Dividends
LABD vs. TECL - Dividend Comparison
LABD's dividend yield for the trailing twelve months is around 6.45%, more than TECL's 3.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
LABD Direxion Daily S&P Biotech Bear 3x Shares | 6.45% | 6.67% | 4.68% | 6.13% | 0.53% | 0.00% | 3.94% | 1.75% | 0.81% | 0.00% |
TECL Direxion Daily Technology Bull 3X Shares | 3.15% | 7.19% | 0.29% | 0.28% | 0.22% | 0.32% | 0.52% | 0.25% | 0.47% | 0.10% |
Frequently Asked Questions
LABD and TECL have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LABD has higher volatility (27.46%) compared to TECL (20.70%). In terms of maximum drawdown, LABD dropped -99.99% vs TECL's -77.96%.
On 10-year performance, TECL leads with 54.49% vs -56.11% for LABD. On fees, TECL is cheaper at 0.91% per year. On volatility, TECL has been the lower-risk option at 20.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TECL has performed better with a 54.49% return vs -56.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TECL is cheaper with a 0.91% expense ratio, compared with 1.06% for LABD.
LABD has the higher dividend yield at 6.45%, compared with 3.15% for TECL.
LABD tracks S&P Biotechnology Select Industry Index (-300%), while TECL tracks Technology Select Sector Index (300%). Their fees differ too: 1.06% for LABD and 0.91% for TECL.
TECL currently has the higher Sharpe Ratio (4.35 vs -1.06), 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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