LABU vs. PILL

Last updated Jun 3, 2026

LABU (Direxion Daily S&P Biotech Bull 3x Shares) and PILL (Direxion Daily Pharmaceutical & Medical Bull 3X Shares) are both Leveraged Equities funds from Direxion - LABU tracks the S&P Biotechnology Select Industry Index (300%) while PILL tracks the Dynamic Pharmaceuticals Intellidex Index. Both are passively managed. Over the past 5 years, LABU returned -33.29%/yr vs -12.47%/yr for PILL. A 0.77 correlation means they provide meaningful diversification when combined. LABU charges 1.12%/yr vs 0.98%/yr for PILL.

Performance

LABU vs. PILL - 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 Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LABU achieves a -0.77% return, which is significantly higher than PILL's -11.70% return.

LABU

• 1D: -12.94%
• 1M: -8.90%
• YTD: -0.77%
• 6M: 7.41%
• 1Y: 193.25%
• 3Y*: 6.21%
• 5Y*: -33.29%
• 10Y*: -13.92%

PILL

• 1D: -8.82%
• 1M: -15.56%
• YTD: -11.70%
• 6M: 6.13%
• 1Y: 102.84%
• 3Y*: 12.92%
• 5Y*: -12.47%
• 10Y*: —

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

LABU vs. PILL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LABU Direxion Daily S&P Biotech Bull 3x Shares	-0.77%	79.17%	-26.02%	-13.41%	-80.36%	-64.15%	74.66%	75.50%	-57.61%	16.89%
PILL Direxion Daily Pharmaceutical & Medical Bull 3X Shares	-11.70%	75.14%	-7.26%	-12.06%	-43.16%	-37.33%	0.28%	19.26%	-21.15%	16.39%

Correlation

The correlation between LABU and PILL is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017	0.77

The correlation between LABU and PILL has been stable across timeframes, ranging from 0.77 to 0.81 - a consistent structural relationship.

LABU vs. PILL - Sectors Allocation Comparison

Sectors	LABU	PILL
Healthcare	99.8%	100.0%
Financial Services	0.2%	-
Basic Materials	0.0%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

LABU vs. PILL — Risk / Return Rank

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

LABU

LABU Risk / Return Rank: 76
LABU Sharpe Ratio Rank: 78
LABU Sortino Ratio Rank: 62
LABU Omega Ratio Rank: 55
LABU Calmar Ratio Rank: 94
LABU Martin Ratio Rank: 90

PILL

PILL Risk / Return Rank: 52
PILL Sharpe Ratio Rank: 48
PILL Sortino Ratio Rank: 44
PILL Omega Ratio Rank: 41
PILL Calmar Ratio Rank: 65
PILL Martin Ratio Rank: 60

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. PILL - 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 Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL). 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	PILL	Difference
Sharpe ratio Return per unit of total volatility	2.57	1.68	+0.89
Sortino ratio Return per unit of downside risk	2.91	2.26	+0.65
Omega ratio Gain probability vs. loss probability	1.34	1.27	+0.07
Calmar ratio Return relative to maximum drawdown	7.09	3.28	+3.81
Martin ratio Return relative to average drawdown	20.95	10.92	+10.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LABU vs. PILL - Sharpe Ratio Comparison

The current LABU Sharpe Ratio is 2.57, which is higher than the PILL Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of LABU and PILL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	LABU	PILL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	1.68	+0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.35	-0.21	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.15	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.24	-0.13	-0.12

Drawdowns

LABU vs. PILL - Drawdown Comparison

The maximum LABU drawdown since its inception was -99.18%, which is greater than PILL's maximum drawdown of -88.76%. Use the drawdown chart below to compare losses from any high point for LABU and PILL.

Drawdown Indicators

	LABU	PILL	Difference
Max Drawdown Largest peak-to-trough decline	-99.18%	-88.76%	-10.42%
Max Drawdown (1Y) Largest decline over 1 year	-30.70%	-33.21%	+2.51%
Max Drawdown (3Y) Largest decline over 3 years	-78.30%	-60.43%	-17.87%
Max Drawdown (5Y) Largest decline over 5 years	-97.59%	-83.38%	-14.21%
Max Drawdown (10Y) Largest decline over 10 years	-98.96%	—	—
Current Drawdown Current decline from peak	-96.50%	-69.74%	-26.76%
Average Drawdown Average peak-to-trough decline	-81.67%	-58.53%	-23.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.40%	9.98%	+0.42%

Volatility

LABU vs. PILL - Volatility Comparison

Direxion Daily S&P Biotech Bull 3x Shares (LABU) has a higher volatility of 28.40% compared to Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL) at 20.61%. This indicates that LABU's price experiences larger fluctuations and is considered to be riskier than PILL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LABU	PILL	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.40%	20.61%	+7.79%
Volatility (6M) Calculated over the trailing 6-month period	60.11%	48.73%	+11.38%
Volatility (1Y) Calculated over the trailing 1-year period	76.20%	61.72%	+14.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.56%	60.41%	+35.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.43%	63.79%	+31.64%

LABU vs. PILL - Expense Ratio Comparison

LABU has a 1.12% expense ratio, which is higher than PILL's 0.98% expense ratio.

Dividends

LABU vs. PILL - Dividend Comparison

LABU's dividend yield for the trailing twelve months is around 0.78%, more than PILL's 0.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
LABU Direxion Daily S&P Biotech Bull 3x Shares	0.78%	0.84%	0.35%	0.35%	0.00%	0.00%	0.00%	0.28%	0.64%	0.17%
PILL Direxion Daily Pharmaceutical & Medical Bull 3X Shares	0.71%	0.69%	1.28%	1.83%	0.67%	0.00%	0.00%	0.38%	0.91%	0.10%

Frequently Asked Questions

Can I hold both LABU and PILL in my portfolio?

LABU and PILL have a correlation of 0.81, 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 PILL?

LABU has higher volatility (28.40%) compared to PILL (20.61%). In terms of maximum drawdown, LABU dropped -99.18% vs PILL's -88.76%.

Which ETF is better, LABU or PILL?

On 5-year performance, PILL leads with -12.47% vs -33.29% for LABU. On fees, PILL is cheaper at 0.98% per year. On volatility, PILL has been the lower-risk option at 20.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LABU or PILL?

Over the 5-year period, PILL has performed better with a -12.47% return vs -33.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LABU or PILL?

PILL is cheaper with a 0.98% expense ratio, compared with 1.12% for LABU.

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

LABU has the higher dividend yield at 0.78%, compared with 0.71% for PILL.

What is the main difference between LABU and PILL?

LABU tracks S&P Biotechnology Select Industry Index (300%), while PILL tracks Dynamic Pharmaceuticals Intellidex Index. Their fees differ too: 1.12% for LABU and 0.98% for PILL.

Which has better risk-adjusted returns?

LABU currently has the higher Sharpe Ratio (2.57 vs 1.68), 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.