LUNL vs. LABU

Last updated Aug 6, 2026

LUNL (Defiance Daily Target 2X Long LUNR ETF) and LABU (Direxion Daily S&P Biotech Bull 3x Shares) are both Leveraged Equities funds - LUNL tracks the Intuitive Machines, Inc. (LUNR) while LABU tracks the S&P Biotechnology Select Industry Index (300%). Both are passively managed. Their 0.38 correlation means their historical movements had little consistent relationship. LUNL charges 1.31%/yr vs 0.96%/yr for LABU.

Performance

LUNL vs. LABU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long LUNR ETF (LUNL) and Direxion Daily S&P Biotech Bull 3x Shares (LABU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

LUNL

• 1D: 0.00%
• 1M: -50.66%
• 6M: -70.85%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

LABU

• 1D: 2.48%
• 1M: -16.16%
• 6M: 52.82%
• YTD: 60.40%
• 1Y: 304.99%
• 3Y*: 34.19%
• 5Y*: -26.26%
• 10Y*: -11.81%
• ALL TIME*: -19.76%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
LABU Direxion Daily S&P Biotech Bull 3x Shares	$91.15M	$114.09M	$118.39M
LUNL Defiance Daily Target 2X Long LUNR ETF	$3.94M	$4.65M	$18.44M

LUNL vs. LABU - Yearly Performance Comparison

	2026 (YTD)
LUNL Defiance Daily Target 2X Long LUNR ETF	-81.71%
LABU Direxion Daily S&P Biotech Bull 3x Shares	54.65%

Correlation

The correlation between LUNL and LABU is 0.38, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026	0.38

Return for Risk

LUNL vs. LABU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

LUNL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

LABU

LABU Risk / Return Rank: 94
LABU Sharpe Ratio Rank: 98
LABU Sortino Ratio Rank: 90
LABU Omega Ratio Rank: 86
LABU Calmar Ratio Rank: 98
LABU Martin Ratio Rank: 96

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

LUNL vs. LABU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long LUNR ETF (LUNL) and Direxion Daily S&P Biotech Bull 3x Shares (LABU). 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.

	LUNL	LABU	Difference
Sharpe ratio: Return per unit of total volatility	—	3.81	—
Sortino ratio: Return per unit of downside risk	—	3.46	—
Omega ratio: Gain probability vs. loss probability	—	1.41	—
Calmar ratio: Return relative to maximum drawdown	—	10.01	—
Martin ratio: Return relative to average drawdown	—	25.01	—

Drawdowns

LUNL vs. LABU - Drawdown Comparison

The maximum LUNL drawdown since its inception was -95.35%, roughly equal to the maximum LABU drawdown of -99.18%. Use the drawdown chart below to compare losses from any high point for LUNL and LABU.

Drawdown Indicators

	LUNL	LABU	Difference
Max Drawdown Largest peak-to-trough decline	-95.35%	-99.18%	+3.83%
Max Drawdown (1Y) Largest decline over 1 year	—	-30.70%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-78.30%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-97.36%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-98.96%	—
Current Drawdown Current decline from peak	-93.14%	-94.35%	+1.21%
Average Drawdown Average peak-to-trough decline	-47.90%	-81.85%	+33.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	12.27%	—

Volatility

Volatility by Period

	LUNL	LABU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	24.65%	—
Volatility (6M) Calculated over the trailing 6-month period	—	63.88%	—
Volatility (1Y) Calculated over the trailing 1-year period	241.48%	80.69%	+160.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	241.48%	96.01%	+145.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	241.48%	95.25%	+146.23%

LUNL vs. LABU - Expense Ratio Comparison

LUNL has a 1.31% expense ratio, which is higher than LABU's 0.96% expense ratio.

Dividends

LUNL vs. LABU - Dividend Comparison

LUNL has not paid dividends to shareholders, while LABU's dividend yield for the trailing twelve months is around 0.40%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
LABU Direxion Daily S&P Biotech Bull 3x Shares	0.40%	0.84%	0.35%	0.35%	0.00%	0.00%	0.00%	0.28%	0.64%	0.17%
LUNL Defiance Daily Target 2X Long LUNR ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LUNL and LABU in my portfolio?

LUNL and LABU have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LUNL or LABU?

On fees, LABU is cheaper at 0.96% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LUNL or LABU?

LABU is cheaper with a 0.96% expense ratio, compared with 1.31% for LUNL.

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

LABU has the higher dividend yield at 0.40%, compared with 0.00% for LUNL.

What is the main difference between LUNL and LABU?

LUNL tracks Intuitive Machines, Inc. (LUNR), while LABU tracks S&P Biotechnology Select Industry Index (300%). They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.31% for LUNL and 0.96% for LABU.