LABU vs. USO
LABU (Direxion Daily S&P Biotech Bull 3x Shares) and USO (United States Oil Fund LP) are both exchange-traded funds - LABU is a Leveraged Equities fund tracking the S&P Biotechnology Select Industry Index (300%), while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 10 years, LABU returned -12.33%/yr vs 5.64%/yr for USO. Their 0.10 correlation means their historical movements had little consistent relationship. LABU charges 0.96%/yr vs 0.86%/yr for USO.
Performance
LABU vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, LABU achieves a 42.67% return, which is significantly lower than USO's 86.77% return. Over the past 10 years, LABU has underperformed USO with an annualized return of -12.33%, while USO has yielded a comparatively higher 5.64% 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%
USO
- 1D
- 1.33%
- 1M
- 24.23%
- 6M
- 62.44%
- YTD
- 86.77%
- 1Y
- 66.76%
- 3Y*
- 20.97%
- 5Y*
- 20.59%
- 10Y*
- 5.64%
- ALL TIME*
- -6.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $76.19M | $116.75M | $118.31M | |
| $968.42M | $871.56M | $931.57M |
LABU vs. USO - 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% |
USO United States Oil Fund LP | 86.77% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -19.57% | 2.47% |
Correlation
The correlation between LABU and USO is -0.28, 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. | -0.28 |
Correlation (3Y) Balances recent behavior with more history. | -0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.02 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.09 |
Correlation (All Time) Calculated using the full available price history since May 28, 2015 | 0.10 |
The correlation between LABU and USO shifts across timeframes, from -0.28 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
LABU vs. USO — Risk / Return Rank
LABU
USO
LABU vs. USO - 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 Oil Fund LP (USO). 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 | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.11 | ||
| Sortino ratioReturn per unit of downside risk | +1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.25 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 9.00 | 1.93 | +7.08 |
| Martin ratioReturn relative to average drawdown | 23.05 | 5.60 | +17.46 |
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Drawdowns
LABU vs. USO - Drawdown Comparison
The maximum LABU drawdown since its inception was -99.18%, roughly equal to the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for LABU and USO.
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Drawdown Indicators
| LABU | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.18% | -98.19% | -0.99% |
Max Drawdown (1Y)Largest decline over 1 year | -30.70% | -32.49% | +1.79% |
Max Drawdown (3Y)Largest decline over 3 years | -78.30% | -32.49% | -45.81% |
Max Drawdown (5Y)Largest decline over 5 years | -97.36% | -36.23% | -61.13% |
Max Drawdown (10Y)Largest decline over 10 years | -98.96% | -86.75% | -12.21% |
Current DrawdownCurrent decline from peak | -94.97% | -86.26% | -8.71% |
Average DrawdownAverage peak-to-trough decline | -81.83% | -75.38% | -6.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.97% | 12.03% | -0.06% |
Volatility
LABU vs. USO - Volatility Comparison
Direxion Daily S&P Biotech Bull 3x Shares (LABU) has a higher volatility of 24.69% compared to United States Oil Fund LP (USO) at 17.73%. This indicates that LABU's price experiences larger fluctuations and is considered to be riskier than USO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LABU | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.69% | 17.73% | +6.96% |
Volatility (6M)Calculated over the trailing 6-month period | 63.73% | 42.79% | +20.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 80.28% | 46.91% | +33.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.01% | 37.06% | +58.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.22% | 39.29% | +55.93% |
LABU vs. USO - Expense Ratio Comparison
LABU has a 0.96% expense ratio, which is higher than USO's 0.86% expense ratio.
Dividends
LABU vs. USO - Dividend Comparison
LABU's dividend yield for the trailing twelve months is around 0.45%, while USO 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 | 0.45% | 0.84% | 0.35% | 0.35% | 0.00% | 0.00% | 0.00% | 0.28% | 0.64% | 0.17% |
USO United States Oil 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 USO 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.
LABU has higher volatility (24.69%) compared to USO (17.73%). In terms of maximum drawdown, LABU dropped -99.18% vs USO's -98.19%.
On 10-year performance, USO leads with 5.64% vs -12.33% for LABU. On fees, USO is cheaper at 0.86% per year. On volatility, USO has been the lower-risk option at 17.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USO has performed better with a 5.64% return vs -12.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USO is cheaper with a 0.86% expense ratio, compared with 0.96% for LABU.
LABU has the higher dividend yield at 0.45%, compared with 0.00% for USO.
LABU is categorized as Leveraged Equities, while USO is Oil & Gas. LABU tracks S&P Biotechnology Select Industry Index (300%), while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: Direxion and USCF. Their fees differ too: 0.96% for LABU and 0.86% for USO.
LABU currently has the higher Sharpe Ratio (3.45 vs 1.34), 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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