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 -56.42%/yr vs 45.88%/yr for TECL. Their -0.51 correlation means they have often moved in opposite directions in the past. 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 -55.11% return, which is significantly lower than TECL's 48.00% return. Over the past 10 years, LABD has underperformed TECL with an annualized return of -56.42%, while TECL has yielded a comparatively higher 45.88% annualized return.
LABD
- 1D
- 8.48%
- 1M
- 26.56%
- 6M
- -50.76%
- YTD
- -55.11%
- 1Y
- -85.49%
- 3Y*
- -58.18%
- 5Y*
- -46.59%
- 10Y*
- -56.42%
- ALL TIME*
- -55.10%
TECL
- 1D
- -0.52%
- 1M
- -11.12%
- 6M
- 50.64%
- YTD
- 48.00%
- 1Y
- 91.25%
- 3Y*
- 47.81%
- 5Y*
- 24.87%
- 10Y*
- 45.88%
- ALL TIME*
- 46.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $66.43M | $107.77M | $90.23M | |
| $140.43M | $155.29M | $226.00M |
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 | -55.11% | -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 | 48.00% | 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 -0.36, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.36 |
Correlation (3Y) Balances recent behavior with more history. | -0.41 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.49 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.51 |
Correlation (All Time) Calculated using the full available price history since May 28, 2015 | -0.51 |
The correlation between LABD and TECL shifts across timeframes, from -0.51 (all time) to -0.36 (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.
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 | TECL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.11 | ||
| Sortino ratioReturn per unit of downside risk | -4.19 | ||
| Omega ratioGain probability vs. loss probability | 0.72 | 1.21 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 1.71 | -2.67 |
| Martin ratioReturn relative to average drawdown | -1.28 | 4.07 | -5.35 |
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Drawdowns
LABD vs. TECL - Drawdown Comparison
The maximum LABD drawdown since its inception was -100.00%, 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 | -100.00% | -77.96% | -22.04% |
Max Drawdown (1Y)Largest decline over 1 year | -89.59% | -46.58% | -43.01% |
Max Drawdown (3Y)Largest decline over 3 years | -97.43% | -66.58% | -30.85% |
Max Drawdown (5Y)Largest decline over 5 years | -99.04% | -77.96% | -21.08% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -77.96% | -22.03% |
Current DrawdownCurrent decline from peak | -99.99% | -36.44% | -63.55% |
Average DrawdownAverage peak-to-trough decline | -91.08% | -18.45% | -72.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.04% | 19.52% | +47.52% |
Volatility
LABD vs. TECL - Volatility Comparison
The current volatility for Direxion Daily S&P Biotech Bear 3x Shares (LABD) is 24.34%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 28.17%. This indicates that LABD experiences smaller price fluctuations and is considered to be less risky 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 | 24.34% | 28.17% | -3.83% |
Volatility (6M)Calculated over the trailing 6-month period | 65.59% | 65.35% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 80.29% | 76.26% | +4.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.73% | 76.62% | +20.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.74% | 73.57% | +22.17% |
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 7.00%, more than TECL's 4.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
LABD Direxion Daily S&P Biotech Bear 3x Shares | 7.00% | 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 | 4.81% | 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 -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECL has higher volatility (28.17%) compared to LABD (24.34%). In terms of maximum drawdown, LABD dropped -100.00% vs TECL's -77.96%.
On 10-year performance, TECL leads with 45.88% vs -56.42% for LABD. On fees, TECL is cheaper at 0.91% per year. On volatility, LABD has been the lower-risk option at 24.34%. 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 45.88% return vs -56.42%. 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 7.00%, compared with 4.81% 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 (1.05 vs -1.07), 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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