LABU vs. MSTZ

Last updated Jul 14, 2026

LABU (Direxion Daily S&P Biotech Bull 3x Shares) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - LABU is a Leveraged Equities fund tracking the S&P Biotechnology Select Industry Index (300%), while MSTZ is a Inverse Equities fund actively managed by REX. LABU is passively managed, while MSTZ is actively managed. Over the past year, LABU returned 322.17% vs 282.56% for MSTZ. At a correlation of -0.29, they often move in opposite directions. LABU charges 0.96%/yr vs 1.05%/yr for MSTZ.

Performance

LABU vs. MSTZ - 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 T-REX 2X Inverse MSTR Daily Target ETF (MSTZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LABU achieves a 71.18% return, which is significantly higher than MSTZ's -23.27% return.

LABU

• 1D: -7.15%
• 1M: 52.75%
• 6M: 65.05%
• YTD: 71.18%
• 1Y: 322.17%
• 3Y*: 31.36%
• 5Y*: -25.04%
• 10Y*: -8.25%

MSTZ

• 1D: 5.07%
• 1M: 46.38%
• 6M: -9.68%
• YTD: -23.27%
• 1Y: 282.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LABU vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LABU Direxion Daily S&P Biotech Bull 3x Shares	71.18%	79.17%	-34.77%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-23.27%	-38.95%	-94.43%

Correlation

The correlation between LABU and MSTZ is -0.28, 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	-0.28
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	-0.29

Return for Risk

LABU vs. MSTZ — Risk / Return Rank

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

LABU

LABU Risk / Return Rank: 94
LABU Sharpe Ratio Rank: 98
LABU Sortino Ratio Rank: 92
LABU Omega Ratio Rank: 88
LABU Calmar Ratio Rank: 98
LABU Martin Ratio Rank: 97

MSTZ

MSTZ Risk / Return Rank: 68
MSTZ Sharpe Ratio Rank: 76
MSTZ Sortino Ratio Rank: 67
MSTZ Omega Ratio Rank: 68
MSTZ Calmar Ratio Rank: 80
MSTZ Martin Ratio Rank: 49

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. MSTZ - 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 T-REX 2X Inverse MSTR Daily Target ETF (MSTZ). 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.

	LABU	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	4.09	1.92	+2.17
Sortino ratio: Return per unit of downside risk	3.59	2.45	+1.14
Omega ratio: Gain probability vs. loss probability	1.43	1.32	+0.11
Calmar ratio: Return relative to maximum drawdown	10.57	3.35	+7.22
Martin ratio: Return relative to average drawdown	29.65	6.53	+23.12

LABU vs. MSTZ - Sharpe Ratio Comparison

The current LABU Sharpe Ratio is 4.09, which is higher than the MSTZ Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of LABU and MSTZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LABU vs. MSTZ - Drawdown Comparison

The maximum LABU drawdown since its inception was -99.18%, roughly equal to the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for LABU and MSTZ.

Drawdown Indicators

	LABU	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-99.18%	-99.38%	+0.20%
Max Drawdown (1Y) Largest decline over 1 year	-30.70%	-84.89%	+54.19%
Max Drawdown (3Y) Largest decline over 3 years	-78.30%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-97.36%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-98.96%	—	—
Current Drawdown Current decline from peak	-93.97%	-97.39%	+3.42%
Average Drawdown Average peak-to-trough decline	-81.77%	-94.53%	+12.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.92%	43.51%	-32.59%

Volatility

LABU vs. MSTZ - Volatility Comparison

The current volatility for Direxion Daily S&P Biotech Bull 3x Shares (LABU) is 24.02%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 56.56%. This indicates that LABU experiences smaller price fluctuations and is considered to be less risky than MSTZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LABU	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.02%	56.56%	-32.54%
Volatility (6M) Calculated over the trailing 6-month period	63.24%	135.11%	-71.87%
Volatility (1Y) Calculated over the trailing 1-year period	79.59%	148.53%	-68.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	96.05%	171.02%	-74.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.24%	171.02%	-75.78%

LABU vs. MSTZ - Expense Ratio Comparison

LABU has a 0.96% expense ratio, which is lower than MSTZ's 1.05% expense ratio.

Dividends

LABU vs. MSTZ - Dividend Comparison

LABU's dividend yield for the trailing twelve months is around 0.37%, while MSTZ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
LABU Direxion Daily S&P Biotech Bull 3x Shares	0.37%	0.84%	0.35%	0.35%	0.00%	0.00%	0.00%	0.28%	0.64%	0.17%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LABU and MSTZ in my portfolio?

LABU and MSTZ have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LABU or MSTZ?

MSTZ has higher volatility (56.56%) compared to LABU (24.02%). In terms of maximum drawdown, LABU dropped -99.18% vs MSTZ's -99.38%.

Which ETF is better, LABU or MSTZ?

On 1-year performance, LABU leads with 322.17% vs 282.56% for MSTZ. On fees, LABU is cheaper at 0.96% per year. On volatility, LABU has been the lower-risk option at 24.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LABU or MSTZ?

Over the 1-year period, LABU has performed better with a 322.17% return vs 282.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LABU or MSTZ?

LABU is cheaper with a 0.96% expense ratio, compared with 1.05% for MSTZ.

Which ETF pays a higher dividend yield, LABU or MSTZ?

LABU has the higher dividend yield at 0.37%, compared with 0.00% for MSTZ.

What is the main difference between LABU and MSTZ?

LABU is categorized as Leveraged Equities, while MSTZ is Inverse Equities. They also come from different issuers: Direxion and REX. Their fees differ too: 0.96% for LABU and 1.05% for MSTZ.

Which has better risk-adjusted returns?

LABU currently has the higher Sharpe Ratio (4.09 vs 1.92), 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.