PST vs. LABD
PST (ProShares UltraShort 7-10 Year Treasury) and LABD (Direxion Daily S&P Biotech Bear 3x Shares) are both exchange-traded funds - PST is a Inverse Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while LABD is a Leveraged Equities fund tracking the S&P Biotechnology Select Industry Index (-300%). Both are passively managed. Over the past 10 years, PST returned 2.47%/yr vs -56.11%/yr for LABD. At a correlation of -0.04, they often move in opposite directions. PST charges 0.95%/yr vs 1.06%/yr for LABD.
Performance
PST vs. LABD - Performance Comparison
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Returns By Period
In the year-to-date period, PST achieves a 4.57% return, which is significantly higher than LABD's -29.83% return. Over the past 10 years, PST has outperformed LABD with an annualized return of 2.47%, while LABD has yielded a comparatively lower -56.11% annualized return.
PST
- 1D
- 0.51%
- 1M
- 0.80%
- YTD
- 4.57%
- 6M
- 6.73%
- 1Y
- 1.08%
- 3Y*
- 5.59%
- 5Y*
- 9.21%
- 10Y*
- 2.47%
LABD
- 1D
- -4.73%
- 1M
- 4.70%
- YTD
- -29.83%
- 6M
- -31.22%
- 1Y
- -80.27%
- 3Y*
- -49.85%
- 5Y*
- -41.45%
- 10Y*
- -56.11%
PST vs. LABD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PST ProShares UltraShort 7-10 Year Treasury | 4.57% | -4.42% | 12.27% | 3.17% | 38.55% | 4.01% | -18.67% | -11.03% | 1.72% | -4.52% |
LABD Direxion Daily S&P Biotech Bear 3x Shares | -29.83% | -70.07% | -21.43% | -41.77% | -32.68% | 1.86% | -89.75% | -70.80% | -6.26% | -75.67% |
Correlation
The correlation between PST and LABD is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | -0.04 |
The correlation between PST and LABD shifts across timeframes, from -0.04 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PST vs. LABD — Risk / Return Rank
PST
LABD
PST vs. LABD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort 7-10 Year Treasury (PST) and Direxion Daily S&P Biotech Bear 3x Shares (LABD). 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.
| PST | LABD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.17 | ||
| Sortino ratioReturn per unit of downside risk | +2.45 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 0.75 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.15 | -0.97 | +1.12 |
| Martin ratioReturn relative to average drawdown | 0.26 | -1.31 | +1.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PST | LABD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.11 | -1.06 | +1.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | -0.43 | +1.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | -0.59 | +0.77 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.37 | -0.54 | +0.17 |
Drawdowns
PST vs. LABD - Drawdown Comparison
The maximum PST drawdown since its inception was -79.25%, smaller than the maximum LABD drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for PST and LABD.
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Drawdown Indicators
| PST | LABD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.25% | -99.99% | +20.74% |
Max Drawdown (1Y)Largest decline over 1 year | -7.25% | -83.21% | +75.96% |
Max Drawdown (3Y)Largest decline over 3 years | -16.19% | -95.31% | +79.12% |
Max Drawdown (5Y)Largest decline over 5 years | -16.19% | -98.24% | +82.05% |
Max Drawdown (10Y)Largest decline over 10 years | -36.07% | -99.98% | +63.91% |
Current DrawdownCurrent decline from peak | -64.13% | -99.99% | +35.86% |
Average DrawdownAverage peak-to-trough decline | -61.48% | -90.92% | +29.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.16% | 61.36% | -57.20% |
Volatility
PST vs. LABD - Volatility Comparison
The current volatility for ProShares UltraShort 7-10 Year Treasury (PST) is 3.19%, while Direxion Daily S&P Biotech Bear 3x Shares (LABD) has a volatility of 27.46%. This indicates that PST experiences smaller price fluctuations and is considered to be less risky than LABD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PST | LABD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 27.46% | -24.27% |
Volatility (6M)Calculated over the trailing 6-month period | 6.75% | 61.67% | -54.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.62% | 75.77% | -66.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.60% | 96.26% | -80.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.32% | 95.93% | -82.61% |
PST vs. LABD - Expense Ratio Comparison
PST has a 0.95% expense ratio, which is lower than LABD's 1.06% expense ratio.
Dividends
PST vs. LABD - Dividend Comparison
PST's dividend yield for the trailing twelve months is around 3.08%, less than LABD's 6.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
LABD Direxion Daily S&P Biotech Bear 3x Shares | 6.45% | 6.67% | 4.68% | 6.13% | 0.53% | 0.00% | 3.94% | 1.75% | 0.81% |
PST ProShares UltraShort 7-10 Year Treasury | 3.08% | 3.47% | 3.61% | 3.69% | 0.02% | 0.00% | 0.11% | 1.85% | 0.66% |
Frequently Asked Questions
PST and LABD have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LABD has higher volatility (27.46%) compared to PST (3.19%). In terms of maximum drawdown, PST dropped -79.25% vs LABD's -99.99%.
On 10-year performance, PST leads with 2.47% vs -56.11% for LABD. On fees, PST is cheaper at 0.95% per year. On volatility, PST has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PST has performed better with a 2.47% return vs -56.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PST is cheaper with a 0.95% expense ratio, compared with 1.06% for LABD.
LABD has the higher dividend yield at 6.45%, compared with 3.08% for PST.
PST is categorized as Inverse Bonds, while LABD is Leveraged Equities. PST tracks ICE U.S. Treasury 7-10 Year Bond Index, while LABD tracks S&P Biotechnology Select Industry Index (-300%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for PST and 1.06% for LABD.
PST currently has the higher Sharpe Ratio (0.11 vs -1.06), 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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