LABU vs. SOXS
LABU (Direxion Daily S&P Biotech Bull 3x Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - LABU is a Leveraged Equities fund tracking the S&P Biotechnology Select Industry Index (300%), while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, LABU returned -12.33%/yr vs -78.06%/yr for SOXS. Their -0.51 correlation means they have often moved in opposite directions in the past. LABU charges 0.96%/yr vs 1.08%/yr for SOXS.
Performance
LABU vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, LABU achieves a 42.67% return, which is significantly higher than SOXS's -91.17% return. Over the past 10 years, LABU has outperformed SOXS with an annualized return of -12.33%, while SOXS has yielded a comparatively lower -78.06% annualized return.
LABU
- 1D
- -8.60%
- 1M
- -25.06%
- 6M
- 37.10%
- YTD
- 42.67%
- 1Y
- 272.05%
- 3Y*
- 25.64%
- 5Y*
- -26.71%
- 10Y*
- -12.33%
- ALL TIME*
- -20.62%
SOXS
- 1D
- 0.65%
- 1M
- 20.33%
- 6M
- -85.96%
- YTD
- -91.17%
- 1Y
- -96.46%
- 3Y*
- -84.46%
- 5Y*
- -78.46%
- 10Y*
- -78.06%
- ALL TIME*
- -70.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $76.19M | $116.75M | $118.31M | |
| $3.72B | $3.43B | $3.32B |
LABU vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LABU Direxion Daily S&P Biotech Bull 3x Shares | 42.67% | 79.17% | -26.02% | -13.41% | -80.36% | -64.15% | 74.66% | 75.50% | -57.61% | 149.12% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -91.17% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
Correlation
The correlation between LABU and SOXS is -0.37, 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. | -0.37 |
Correlation (3Y) Balances recent behavior with more history. | -0.42 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.48 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.50 |
Correlation (All Time) Calculated using the full available price history since May 28, 2015 | -0.51 |
The correlation between LABU and SOXS shifts across timeframes, from -0.51 (all time) to -0.37 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LABU vs. SOXS — Risk / Return Rank
LABU
SOXS
LABU vs. SOXS - 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 Semiconductor Bear 3x Shares (SOXS). 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 | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.17 | ||
| Sortino ratioReturn per unit of downside risk | +5.76 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 0.74 | +0.66 |
| Calmar ratioReturn relative to maximum drawdown | 9.00 | -0.98 | +9.99 |
| Martin ratioReturn relative to average drawdown | 23.05 | -1.35 | +24.40 |
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Drawdowns
LABU vs. SOXS - Drawdown Comparison
The maximum LABU drawdown since its inception was -99.18%, roughly equal to the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for LABU and SOXS.
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Drawdown Indicators
| LABU | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.18% | -100.00% | +0.82% |
Max Drawdown (1Y)Largest decline over 1 year | -30.70% | -97.89% | +67.19% |
Max Drawdown (3Y)Largest decline over 3 years | -78.30% | -99.87% | +21.57% |
Max Drawdown (5Y)Largest decline over 5 years | -97.36% | -99.98% | +2.62% |
Max Drawdown (10Y)Largest decline over 10 years | -98.96% | -100.00% | +1.04% |
Current DrawdownCurrent decline from peak | -94.97% | -100.00% | +5.03% |
Average DrawdownAverage peak-to-trough decline | -81.83% | -92.65% | +10.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.97% | 71.27% | -59.30% |
Volatility
LABU vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily S&P Biotech Bull 3x Shares (LABU) is 24.69%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 55.41%. This indicates that LABU experiences smaller price fluctuations and is considered to be less risky than SOXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LABU | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.69% | 55.41% | -30.72% |
Volatility (6M)Calculated over the trailing 6-month period | 63.73% | 117.32% | -53.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 80.28% | 132.87% | -52.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.01% | 114.55% | -18.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.22% | 103.76% | -8.54% |
LABU vs. SOXS - Expense Ratio Comparison
LABU has a 0.96% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
LABU vs. SOXS - Dividend Comparison
LABU's dividend yield for the trailing twelve months is around 0.45%, less than SOXS's 41.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
LABU Direxion Daily S&P Biotech Bull 3x Shares | 0.45% | 0.84% | 0.35% | 0.35% | 0.00% | 0.00% | 0.00% | 0.28% | 0.64% | 0.17% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 41.84% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% | 0.00% |
Frequently Asked Questions
LABU and SOXS have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (55.41%) compared to LABU (24.69%). In terms of maximum drawdown, LABU dropped -99.18% vs SOXS's -100.00%.
On 10-year performance, LABU leads with -12.33% vs -78.06% for SOXS. On fees, LABU is cheaper at 0.96% per year. On volatility, LABU has been the lower-risk option at 24.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, LABU has performed better with a -12.33% return vs -78.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LABU is cheaper with a 0.96% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 41.84%, compared with 0.45% for LABU.
LABU is categorized as Leveraged Equities, while SOXS is Inverse Equities. LABU tracks S&P Biotechnology Select Industry Index (300%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 0.96% for LABU and 1.08% for SOXS.
LABU currently has the higher Sharpe Ratio (3.45 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.
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