LABD vs. TMV
Compare and contrast key facts about Direxion Daily S&P Biotech Bear 3x Shares (LABD) and Direxion Daily 20-Year Treasury Bear 3X (TMV).
LABD and TMV 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. TMV is a passively managed fund by Direxion that tracks the performance of the NYSE 20 Year Plus Treasury Bond Index (-300%). It was launched on Apr 16, 2009. Both LABD and TMV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: LABD or TMV.
Key characteristics
| LABD | TMV | |
|---|---|---|
| YTD Return | -46.99% | 19.31% |
| 1Y Return | -79.65% | -19.12% |
| 3Y Return (Ann) | -34.58% | 40.31% |
| 5Y Return (Ann) | -57.17% | 3.95% |
| Sharpe Ratio | -0.96 | -0.30 |
| Sortino Ratio | -1.87 | -0.14 |
| Omega Ratio | 0.79 | 0.98 |
| Calmar Ratio | -0.77 | -0.14 |
| Martin Ratio | -1.14 | -0.60 |
| Ulcer Index | 67.45% | 22.49% |
| Daily Std Dev | 80.00% | 44.69% |
| Max Drawdown | -99.97% | -99.06% |
| Current Drawdown | -99.97% | -96.88% |
Correlation
The correlation between LABD and TMV is -0.07. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
LABD vs. TMV - Performance Comparison
In the year-to-date period, LABD achieves a -46.99% return, which is significantly lower than TMV's 19.31% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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LABD vs. TMV - Expense Ratio Comparison
LABD has a 1.06% expense ratio, which is higher than TMV's 1.04% expense ratio.
Risk-Adjusted Performance
LABD vs. TMV - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P Biotech Bear 3x Shares (LABD) and Direxion Daily 20-Year Treasury Bear 3X (TMV). 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.
Dividends
LABD vs. TMV - Dividend Comparison
LABD's dividend yield for the trailing twelve months is around 5.98%, more than TMV's 4.34% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
LABD Direxion Daily S&P Biotech Bear 3x Shares | 5.98% | 6.14% | 0.53% | 0.00% | 3.96% | 1.75% | 0.80% |
TMV Direxion Daily 20-Year Treasury Bear 3X | 4.34% | 3.87% | 0.00% | 0.00% | 0.52% | 2.24% | 0.88% |
Drawdowns
LABD vs. TMV - Drawdown Comparison
The maximum LABD drawdown since its inception was -99.97%, roughly equal to the maximum TMV drawdown of -99.06%. Use the drawdown chart below to compare losses from any high point for LABD and TMV. For additional features, visit the drawdowns tool.
Volatility
LABD vs. TMV - Volatility Comparison
Direxion Daily S&P Biotech Bear 3x Shares (LABD) has a higher volatility of 15.91% compared to Direxion Daily 20-Year Treasury Bear 3X (TMV) at 14.48%. This indicates that LABD's price experiences larger fluctuations and is considered to be riskier than TMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.