LABU vs. NVDG

Last updated Jun 24, 2026

LABU (Direxion Daily S&P Biotech Bull 3x Shares) and NVDG (Leverage Shares 2X Long NVDA Daily ETF) are both Leveraged Equities funds. LABU is passively managed, while NVDG is actively managed. Over the past year, LABU returned 324.35% vs 51.22% for NVDG. At a 0.33 correlation, their price movements are largely independent. LABU charges 1.12%/yr vs 0.75%/yr for NVDG.

Performance

LABU vs. NVDG - 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 Leverage Shares 2X Long NVDA Daily ETF (NVDG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LABU achieves a 47.57% return, which is significantly higher than NVDG's 1.66% return.

LABU

• 1D: 2.26%
• 1M: 34.26%
• YTD: 47.57%
• 6M: 36.98%
• 1Y: 324.35%
• 3Y*: 23.36%
• 5Y*: -31.01%
• 10Y*: -7.18%

NVDG

• 1D: -8.30%
• 1M: -15.70%
• YTD: 1.66%
• 6M: -1.47%
• 1Y: 51.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LABU vs. NVDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LABU Direxion Daily S&P Biotech Bull 3x Shares	47.57%	79.17%	-14.28%
NVDG Leverage Shares 2X Long NVDA Daily ETF	1.66%	32.45%	-0.52%

Correlation

The correlation between LABU and NVDG is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	0.33

The correlation between LABU and NVDG shifts across timeframes, from 0.23 (1 year) to 0.33 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LABU vs. NVDG — Risk / Return Rank

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

LABU

LABU Risk / Return Rank: 91
LABU Sharpe Ratio Rank: 97
LABU Sortino Ratio Rank: 86
LABU Omega Ratio Rank: 78
LABU Calmar Ratio Rank: 97
LABU Martin Ratio Rank: 95

NVDG

NVDG Risk / Return Rank: 24
NVDG Sharpe Ratio Rank: 22
NVDG Sortino Ratio Rank: 26
NVDG Omega Ratio Rank: 25
NVDG Calmar Ratio Rank: 26
NVDG Martin Ratio Rank: 22

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. NVDG - 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 Leverage Shares 2X Long NVDA Daily ETF (NVDG). 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	NVDG	Difference
Sharpe ratio: Return per unit of total volatility	4.15	0.73	+3.42
Sortino ratio: Return per unit of downside risk	3.66	1.39	+2.28
Omega ratio: Gain probability vs. loss probability	1.44	1.17	+0.27
Calmar ratio: Return relative to maximum drawdown	10.64	1.20	+9.44
Martin ratio: Return relative to average drawdown	29.90	2.62	+27.27

LABU vs. NVDG - Sharpe Ratio Comparison

The current LABU Sharpe Ratio is 4.15, which is higher than the NVDG Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of LABU and NVDG, 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. NVDG - Drawdown Comparison

The maximum LABU drawdown since its inception was -99.18%, which is greater than NVDG's maximum drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for LABU and NVDG.

Drawdown Indicators

	LABU	NVDG	Difference
Max Drawdown Largest peak-to-trough decline	-99.18%	-66.19%	-32.99%
Max Drawdown (1Y) Largest decline over 1 year	-30.70%	-42.72%	+12.02%
Max Drawdown (3Y) Largest decline over 3 years	-78.30%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-97.59%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-98.96%	—	—
Current Drawdown Current decline from peak	-94.80%	-30.20%	-64.60%
Average Drawdown Average peak-to-trough decline	-81.72%	-23.05%	-58.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.91%	19.59%	-8.68%

Volatility

LABU vs. NVDG - Volatility Comparison

Direxion Daily S&P Biotech Bull 3x Shares (LABU) has a higher volatility of 29.76% compared to Leverage Shares 2X Long NVDA Daily ETF (NVDG) at 26.07%. This indicates that LABU's price experiences larger fluctuations and is considered to be riskier than NVDG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LABU	NVDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.76%	26.07%	+3.69%
Volatility (6M) Calculated over the trailing 6-month period	63.07%	52.86%	+10.21%
Volatility (1Y) Calculated over the trailing 1-year period	78.78%	70.20%	+8.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.94%	90.59%	+5.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.44%	90.59%	+4.85%

LABU vs. NVDG - Expense Ratio Comparison

LABU has a 1.12% expense ratio, which is higher than NVDG's 0.75% expense ratio.

Dividends

LABU vs. NVDG - Dividend Comparison

LABU's dividend yield for the trailing twelve months is around 0.52%, less than NVDG's 11.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
LABU Direxion Daily S&P Biotech Bull 3x Shares	0.52%	0.84%	0.35%	0.35%	0.00%	0.00%	0.00%	0.28%	0.64%	0.17%
NVDG Leverage Shares 2X Long NVDA Daily ETF	11.62%	11.81%	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 NVDG in my portfolio?

LABU and NVDG have a correlation of 0.23, 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 NVDG?

LABU has higher volatility (29.76%) compared to NVDG (26.07%). In terms of maximum drawdown, LABU dropped -99.18% vs NVDG's -66.19%.

Which ETF is better, LABU or NVDG?

On 1-year performance, LABU leads with 324.35% vs 51.22% for NVDG. On fees, NVDG is cheaper at 0.75% per year. On volatility, NVDG has been the lower-risk option at 26.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LABU or NVDG?

Over the 1-year period, LABU has performed better with a 324.35% return vs 51.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LABU or NVDG?

NVDG is cheaper with a 0.75% expense ratio, compared with 1.12% for LABU.

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

NVDG has the higher dividend yield at 11.62%, compared with 0.52% for LABU.

What is the main difference between LABU and NVDG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.12% for LABU and 0.75% for NVDG.

Which has better risk-adjusted returns?

LABU currently has the higher Sharpe Ratio (4.15 vs 0.73), 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.