TSLL vs. LABU

Last updated Jun 13, 2026

TSLL (Direxion Daily TSLA Bull 2X ETF) and LABU (Direxion Daily S&P Biotech Bull 3x Shares) are both Leveraged Equities funds from Direxion. TSLL is actively managed, while LABU is passively managed. Over the past 3 years, TSLL returned -3.31%/yr vs 6.07%/yr for LABU. At a 0.37 correlation, their price movements are largely independent. TSLL charges 0.83%/yr vs 1.12%/yr for LABU.

Performance

TSLL vs. LABU - Performance Comparison

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

Returns By Period

In the year-to-date period, TSLL achieves a -28.34% return, which is significantly lower than LABU's 12.06% return.

TSLL

• 1D: 3.58%
• 1M: -19.30%
• YTD: -28.34%
• 6M: -32.14%
• 1Y: 17.57%
• 3Y*: -3.31%
• 5Y*: —
• 10Y*: —

LABU

• 1D: 2.37%
• 1M: -8.14%
• YTD: 12.06%
• 6M: 8.94%
• 1Y: 198.09%
• 3Y*: 6.07%
• 5Y*: -34.35%
• 10Y*: -11.11%

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

TSLL vs. LABU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TSLL Direxion Daily TSLA Bull 2X ETF	-28.34%	-26.80%	99.63%	139.86%	-74.99%
LABU Direxion Daily S&P Biotech Bull 3x Shares	12.06%	79.17%	-26.02%	-13.41%	-44.42%

Correlation

The correlation between TSLL and LABU is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022	0.37

TSLL vs. LABU - Sectors Allocation Comparison

Sectors	TSLL	LABU
Consumer Cyclical	100.0%	-
Basic Materials	-	0.0%
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.2%
Healthcare	-	99.8%
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

TSLL vs. LABU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TSLL

TSLL Risk / Return Rank: 15
TSLL Sharpe Ratio Rank: 13
TSLL Sortino Ratio Rank: 19
TSLL Omega Ratio Rank: 18
TSLL Calmar Ratio Rank: 13
TSLL Martin Ratio Rank: 13

LABU

LABU Risk / Return Rank: 83
LABU Sharpe Ratio Rank: 89
LABU Sortino Ratio Rank: 75
LABU Omega Ratio Rank: 66
LABU Calmar Ratio Rank: 95
LABU Martin Ratio Rank: 90

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TSLL vs. LABU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSLA Bull 2X ETF (TSLL) 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.

	TSLL	LABU	Difference
Sharpe ratio: Return per unit of total volatility	0.20	2.57	-2.37
Sortino ratio: Return per unit of downside risk	0.92	2.89	-1.97
Omega ratio: Gain probability vs. loss probability	1.10	1.34	-0.24
Calmar ratio: Return relative to maximum drawdown	0.32	6.49	-6.17
Martin ratio: Return relative to average drawdown	0.65	18.31	-17.65

TSLL vs. LABU - Sharpe Ratio Comparison

The current TSLL Sharpe Ratio is 0.20, which is lower than the LABU Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of TSLL and LABU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TSLL vs. LABU - Drawdown Comparison

The maximum TSLL drawdown since its inception was -82.88%, smaller than the maximum LABU drawdown of -99.18%. Use the drawdown chart below to compare losses from any high point for TSLL and LABU.

Drawdown Indicators

	TSLL	LABU	Difference
Max Drawdown Largest peak-to-trough decline	-82.88%	-99.18%	+16.30%
Max Drawdown (1Y) Largest decline over 1 year	-54.75%	-30.70%	-24.05%
Max Drawdown (3Y) Largest decline over 3 years	-82.88%	-78.30%	-4.58%
Max Drawdown (5Y) Largest decline over 5 years	—	-97.59%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-98.96%	—
Current Drawdown Current decline from peak	-63.81%	-96.05%	+32.24%
Average Drawdown Average peak-to-trough decline	-53.85%	-81.69%	+27.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.01%	10.91%	+16.10%

Volatility

TSLL vs. LABU - Volatility Comparison

The current volatility for Direxion Daily TSLA Bull 2X ETF (TSLL) is 28.50%, while Direxion Daily S&P Biotech Bull 3x Shares (LABU) has a volatility of 31.31%. This indicates that TSLL experiences smaller price fluctuations and is considered to be less risky than LABU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLL	LABU	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.50%	31.31%	-2.81%
Volatility (6M) Calculated over the trailing 6-month period	57.37%	61.52%	-4.15%
Volatility (1Y) Calculated over the trailing 1-year period	88.62%	77.69%	+10.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	107.00%	95.70%	+11.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	107.00%	95.45%	+11.55%

TSLL vs. LABU - Expense Ratio Comparison

TSLL has a 0.83% expense ratio, which is lower than LABU's 1.12% expense ratio.

Dividends

TSLL vs. LABU - Dividend Comparison

TSLL's dividend yield for the trailing twelve months is around 7.14%, more than LABU's 0.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
LABU Direxion Daily S&P Biotech Bull 3x Shares	0.69%	0.84%	0.35%	0.35%	0.00%	0.00%	0.00%	0.28%	0.64%	0.17%
TSLL Direxion Daily TSLA Bull 2X ETF	7.14%	5.00%	2.47%	4.44%	1.57%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSLL and LABU in my portfolio?

TSLL and LABU have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLL or LABU?

LABU has higher volatility (31.31%) compared to TSLL (28.50%). In terms of maximum drawdown, TSLL dropped -82.88% vs LABU's -99.18%.

Which ETF is better, TSLL or LABU?

On 3-year performance, LABU leads with 6.07% vs -3.31% for TSLL. On fees, TSLL is cheaper at 0.83% per year. On volatility, TSLL has been the lower-risk option at 28.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLL or LABU?

Over the 3-year period, LABU has performed better with a 6.07% return vs -3.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLL or LABU?

TSLL is cheaper with a 0.83% expense ratio, compared with 1.12% for LABU.

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

TSLL has the higher dividend yield at 7.14%, compared with 0.69% for LABU.

What is the main difference between TSLL and LABU?

Their fees differ too: 0.83% for TSLL and 1.12% for LABU.

Which has better risk-adjusted returns?

LABU currently has the higher Sharpe Ratio (2.57 vs 0.20), 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.