LABU vs. UGA
LABU (Direxion Daily S&P Biotech Bull 3x Shares) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - LABU is a Leveraged Equities fund tracking the S&P Biotechnology Select Industry Index (300%), while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, LABU returned -7.18%/yr vs 14.31%/yr for UGA. At a 0.10 correlation, their price movements are largely independent. LABU charges 1.12%/yr vs 0.75%/yr for UGA.
Performance
LABU vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, LABU achieves a 47.57% return, which is significantly lower than UGA's 64.09% return. Over the past 10 years, LABU has underperformed UGA with an annualized return of -7.18%, while UGA has yielded a comparatively higher 14.31% annualized 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%
UGA
- 1D
- -1.12%
- 1M
- -12.11%
- YTD
- 64.09%
- 6M
- 60.42%
- 1Y
- 59.74%
- 3Y*
- 18.95%
- 5Y*
- 22.69%
- 10Y*
- 14.31%
LABU vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LABU Direxion Daily S&P Biotech Bull 3x Shares | 47.57% | 79.17% | -26.02% | -13.41% | -80.36% | -64.15% | 74.66% | 75.50% | -57.61% | 149.12% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -28.07% | 1.69% |
Correlation
The correlation between LABU and UGA is -0.26, 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 | -0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since May 28, 2015 | 0.10 |
The correlation between LABU and UGA shifts across timeframes, from -0.26 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
LABU vs. UGA — Risk / Return Rank
LABU
UGA
LABU vs. UGA - 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 United States Gasoline Fund LP (UGA). 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 | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.42 | ||
| Sortino ratioReturn per unit of downside risk | +1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.30 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 10.64 | 3.17 | +7.48 |
| Martin ratioReturn relative to average drawdown | 29.90 | 9.39 | +20.50 |
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Drawdowns
LABU vs. UGA - Drawdown Comparison
The maximum LABU drawdown since its inception was -99.18%, which is greater than UGA's maximum drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for LABU and UGA.
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Drawdown Indicators
| LABU | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.18% | -86.59% | -12.59% |
Max Drawdown (1Y)Largest decline over 1 year | -30.70% | -18.96% | -11.74% |
Max Drawdown (3Y)Largest decline over 3 years | -78.30% | -26.68% | -51.62% |
Max Drawdown (5Y)Largest decline over 5 years | -97.59% | -38.11% | -59.48% |
Max Drawdown (10Y)Largest decline over 10 years | -98.96% | -75.89% | -23.07% |
Current DrawdownCurrent decline from peak | -94.80% | -18.05% | -76.75% |
Average DrawdownAverage peak-to-trough decline | -81.72% | -36.69% | -45.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.91% | 6.43% | +4.48% |
Volatility
LABU vs. UGA - Volatility Comparison
Direxion Daily S&P Biotech Bull 3x Shares (LABU) has a higher volatility of 29.76% compared to United States Gasoline Fund LP (UGA) at 9.24%. This indicates that LABU's price experiences larger fluctuations and is considered to be riskier than UGA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LABU | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.76% | 9.24% | +20.52% |
Volatility (6M)Calculated over the trailing 6-month period | 63.07% | 30.57% | +32.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 78.78% | 35.22% | +43.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 95.94% | 34.45% | +61.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.44% | 37.22% | +58.22% |
LABU vs. UGA - Expense Ratio Comparison
LABU has a 1.12% expense ratio, which is higher than UGA's 0.75% expense ratio.
Dividends
LABU vs. UGA - Dividend Comparison
LABU's dividend yield for the trailing twelve months is around 0.52%, while UGA 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 | 0.52% | 0.84% | 0.35% | 0.35% | 0.00% | 0.00% | 0.00% | 0.28% | 0.64% | 0.17% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LABU and UGA have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LABU has higher volatility (29.76%) compared to UGA (9.24%). In terms of maximum drawdown, LABU dropped -99.18% vs UGA's -86.59%.
On 10-year performance, UGA leads with 14.31% vs -7.18% for LABU. On fees, UGA is cheaper at 0.75% per year. On volatility, UGA has been the lower-risk option at 9.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UGA has performed better with a 14.31% return vs -7.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UGA is cheaper with a 0.75% expense ratio, compared with 1.12% for LABU.
LABU has the higher dividend yield at 0.52%, compared with 0.00% for UGA.
LABU is categorized as Leveraged Equities, while UGA is Oil & Gas. LABU tracks S&P Biotechnology Select Industry Index (300%), while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: Direxion and Concierge Technologies. Their fees differ too: 1.12% for LABU and 0.75% for UGA.
LABU currently has the higher Sharpe Ratio (4.15 vs 1.73), 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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