LABU vs. HFGM

Last updated Apr 1, 2026

Compare and contrast key facts about Direxion Daily S&P Biotech Bull 3x Shares (LABU) and Unlimited HFGM Global Macro ETF (HFGM).

LABU and HFGM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LABU 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. HFGM is an actively managed fund by Unlimited. It was launched on Apr 14, 2025.

Performance

LABU vs. HFGM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily S&P Biotech Bull 3x Shares (LABU) and Unlimited HFGM Global Macro ETF (HFGM). The values are adjusted to include any dividend payments, if applicable.

LABU vs. HFGM - Yearly Performance Comparison

	2026 (YTD)	2025
LABU Direxion Daily S&P Biotech Bull 3x Shares	4.20%	234.17%
HFGM Unlimited HFGM Global Macro ETF	11.17%	26.63%

Returns By Period

In the year-to-date period, LABU achieves a 4.20% return, which is significantly lower than HFGM's 11.17% return.

LABU

• 1D: 22.31%
• 1M: -3.83%
• YTD: 4.20%
• 6M: 78.34%
• 1Y: 175.22%
• 3Y*: 19.86%
• 5Y*: -36.38%
• 10Y*: -11.81%

HFGM

• 1D: 2.53%
• 1M: -5.04%
• YTD: 11.17%
• 6M: 12.31%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

LABU vs. HFGM - Expense Ratio Comparison

LABU has a 1.12% expense ratio, which is higher than HFGM's 0.95% expense ratio.

LABU

Direxion Daily S&P Biotech Bull 3x Shares

HFGM

Unlimited HFGM Global Macro ETF

Return for Risk

LABU vs. HFGM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LABU

LABU Risk / Return Rank: 90
LABU Sharpe Ratio Rank: 92
LABU Sortino Ratio Rank: 90
LABU Omega Ratio Rank: 82
LABU Calmar Ratio Rank: 94
LABU Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LABU vs. HFGM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P Biotech Bull 3x Shares (LABU) and Unlimited HFGM Global Macro ETF (HFGM). 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.

	LABU	HFGM	Difference
Sharpe ratio Return per unit of total volatility	2.04	—	—
Sortino ratio Return per unit of downside risk	2.48	—	—
Omega ratio Gain probability vs. loss probability	1.31	—	—
Calmar ratio Return relative to maximum drawdown	3.74	—	—
Martin ratio Return relative to average drawdown	11.90	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	LABU	HFGM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.38	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.12	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.24	1.88	-2.12

Correlation

The correlation between LABU and HFGM is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

LABU vs. HFGM - Dividend Comparison

LABU's dividend yield for the trailing twelve months is around 0.74%, less than HFGM's 10.11% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
LABU Direxion Daily S&P Biotech Bull 3x Shares	0.74%	0.84%	0.35%	0.35%	0.00%	0.00%	0.00%	0.28%	0.64%	0.17%
HFGM Unlimited HFGM Global Macro ETF	10.11%	11.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

LABU vs. HFGM - Drawdown Comparison

The maximum LABU drawdown since its inception was -99.18%, which is greater than HFGM's maximum drawdown of -10.66%. Use the drawdown chart below to compare losses from any high point for LABU and HFGM.

Drawdown Indicators

	LABU	HFGM	Difference
Max Drawdown Largest peak-to-trough decline	-99.18%	-10.66%	-88.52%
Max Drawdown (1Y) Largest decline over 1 year	-36.66%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-97.75%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-98.96%	—	—
Current Drawdown Current decline from peak	-96.33%	-8.40%	-87.93%
Average Drawdown Average peak-to-trough decline	-81.45%	-2.32%	-79.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.01%	—	—

Volatility

Volatility by Period

	LABU	HFGM	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.99%	—	—
Volatility (6M) Calculated over the trailing 6-month period	56.88%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	87.36%	23.06%	+64.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.74%	23.06%	+72.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.91%	23.06%	+72.85%