LABD vs. XLV
LABD (Direxion Daily S&P Biotech Bear 3x Shares) and XLV (State Street Health Care Select Sector SPDR ETF) are both exchange-traded funds - LABD is a Leveraged Equities fund tracking the S&P Biotechnology Select Industry Index (-300%), while XLV is a Health & Biotech Equities fund tracking the Health Care Select Sector Index. Both are passively managed. Over the past 10 years, LABD returned -56.42%/yr vs 9.81%/yr for XLV. Their -0.58 correlation means they have often moved in opposite directions in the past. LABD charges 1.06%/yr vs 0.08%/yr for XLV.
Performance
LABD vs. XLV - 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 XLV's 5.90% return. Over the past 10 years, LABD has underperformed XLV with an annualized return of -56.42%, while XLV has yielded a comparatively higher 9.81% 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%
XLV
- 1D
- -0.59%
- 1M
- -0.73%
- 6M
- 5.94%
- YTD
- 5.90%
- 1Y
- 26.13%
- 3Y*
- 8.60%
- 5Y*
- 5.93%
- 10Y*
- 9.81%
- ALL TIME*
- 8.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $66.43M | $107.77M | $90.23M | |
| $1.43B | $1.62B | $1.62B |
LABD vs. XLV - 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% |
XLV State Street Health Care Select Sector SPDR ETF | 5.90% | 14.50% | 2.47% | 2.07% | -2.08% | 26.04% | 13.30% | 20.45% | 6.28% | 21.77% |
Correlation
The correlation between LABD and XLV is -0.47, 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. | -0.47 |
Correlation (3Y) Balances recent behavior with more history. | -0.52 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.52 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.56 |
Correlation (All Time) Calculated using the full available price history since May 28, 2015 | -0.58 |
The correlation between LABD and XLV shifts across timeframes, from -0.58 (all time) to -0.47 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LABD vs. XLV — Risk / Return Rank
LABD
XLV
LABD vs. XLV - 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 State Street Health Care Select Sector SPDR ETF (XLV). 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 | XLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.79 | ||
| Sortino ratioReturn per unit of downside risk | -5.23 | ||
| Omega ratioGain probability vs. loss probability | 0.72 | 1.30 | -0.58 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 2.57 | -3.53 |
| Martin ratioReturn relative to average drawdown | -1.28 | 6.15 | -7.42 |
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Drawdowns
LABD vs. XLV - Drawdown Comparison
The maximum LABD drawdown since its inception was -100.00%, which is greater than XLV's maximum drawdown of -39.17%. Use the drawdown chart below to compare losses from any high point for LABD and XLV.
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Drawdown Indicators
| LABD | XLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -39.17% | -60.83% |
Max Drawdown (1Y)Largest decline over 1 year | -89.59% | -10.47% | -79.12% |
Max Drawdown (3Y)Largest decline over 3 years | -97.43% | -17.11% | -80.32% |
Max Drawdown (5Y)Largest decline over 5 years | -99.04% | -17.11% | -81.93% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -28.40% | -71.59% |
Current DrawdownCurrent decline from peak | -99.99% | -2.82% | -97.17% |
Average DrawdownAverage peak-to-trough decline | -91.08% | -7.09% | -83.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.04% | 4.37% | +62.67% |
Volatility
LABD vs. XLV - Volatility Comparison
Direxion Daily S&P Biotech Bear 3x Shares (LABD) has a higher volatility of 24.34% compared to State Street Health Care Select Sector SPDR ETF (XLV) at 6.03%. This indicates that LABD's price experiences larger fluctuations and is considered to be riskier than XLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LABD | XLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.34% | 6.03% | +18.31% |
Volatility (6M)Calculated over the trailing 6-month period | 65.59% | 12.07% | +53.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 80.29% | 15.90% | +64.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.73% | 15.04% | +81.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.74% | 16.66% | +79.08% |
LABD vs. XLV - Expense Ratio Comparison
LABD has a 1.06% expense ratio, which is higher than XLV's 0.08% expense ratio.
Dividends
LABD vs. XLV - Dividend Comparison
LABD's dividend yield for the trailing twelve months is around 7.00%, more than XLV's 1.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
XLV State Street Health Care Select Sector SPDR ETF | 1.56% | 1.60% | 1.67% | 1.59% | 1.47% | 1.33% | 1.49% | 2.17% | 1.57% | 1.47% | 1.60% | 1.43% |
Frequently Asked Questions
LABD and XLV have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LABD has higher volatility (24.34%) compared to XLV (6.03%). In terms of maximum drawdown, LABD dropped -100.00% vs XLV's -39.17%.
On 10-year performance, XLV leads with 9.81% vs -56.42% for LABD. On fees, XLV is cheaper at 0.08% per year. On volatility, XLV has been the lower-risk option at 6.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XLV has performed better with a 9.81% return vs -56.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLV is cheaper with a 0.08% expense ratio, compared with 1.06% for LABD.
LABD has the higher dividend yield at 7.00%, compared with 1.56% for XLV.
LABD is categorized as Leveraged Equities, while XLV is Health & Biotech Equities. LABD tracks S&P Biotechnology Select Industry Index (-300%), while XLV tracks Health Care Select Sector Index. They also come from different issuers: Direxion and State Street. Their fees differ too: 1.06% for LABD and 0.08% for XLV.
XLV currently has the higher Sharpe Ratio (1.72 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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