USAX vs. LABU

Last updated Jul 17, 2026

USAX (Tradr 2X Long USAR Daily ETF) and LABU (Direxion Daily S&P Biotech Bull 3x Shares) are both Leveraged Equities funds - USAX tracks the USA Rare Earth, Inc. (USAR) while LABU tracks the S&P Biotechnology Select Industry Index (300%). Both are passively managed. At a 0.42 correlation, their price movements are largely independent. USAX charges 1.49%/yr vs 0.96%/yr for LABU.

Performance

USAX vs. LABU - Performance Comparison

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

Returns By Period

USAX

• 1D: -15.75%
• 1M: -49.62%
• 6M: -54.17%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

LABU

• 1D: -8.20%
• 1M: 38.01%
• 6M: 52.81%
• YTD: 59.86%
• 1Y: 286.59%
• 3Y*: 26.50%
• 5Y*: -26.07%
• 10Y*: -9.00%

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

USAX vs. LABU - Yearly Performance Comparison

	2026 (YTD)
USAX Tradr 2X Long USAR Daily ETF	-63.03%
LABU Direxion Daily S&P Biotech Bull 3x Shares	54.13%

Correlation

The correlation between USAX and LABU is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026	0.42

Return for Risk

USAX vs. LABU — Risk / Return Rank

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

USAX

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

LABU

LABU Risk / Return Rank: 93
LABU Sharpe Ratio Rank: 97
LABU Sortino Ratio Rank: 90
LABU Omega Ratio Rank: 85
LABU Calmar Ratio Rank: 97
LABU Martin Ratio Rank: 96

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.

USAX vs. LABU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long USAR Daily ETF (USAX) 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.

	USAX	LABU	Difference
Sharpe ratio: Return per unit of total volatility	—	3.64	—
Sortino ratio: Return per unit of downside risk	—	3.41	—
Omega ratio: Gain probability vs. loss probability	—	1.41	—
Calmar ratio: Return relative to maximum drawdown	—	9.40	—
Martin ratio: Return relative to average drawdown	—	26.08	—

Drawdowns

USAX vs. LABU - Drawdown Comparison

The maximum USAX drawdown since its inception was -80.81%, smaller than the maximum LABU drawdown of -99.18%. Use the drawdown chart below to compare losses from any high point for USAX and LABU.

Drawdown Indicators

	USAX	LABU	Difference
Max Drawdown Largest peak-to-trough decline	-80.81%	-99.18%	+18.37%
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	-80.81%	-94.37%	+13.56%
Average Drawdown Average peak-to-trough decline	-50.06%	-81.78%	+31.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.05%	—

Volatility

Volatility by Period

	USAX	LABU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	25.26%	—
Volatility (6M) Calculated over the trailing 6-month period	—	63.83%	—
Volatility (1Y) Calculated over the trailing 1-year period	218.46%	79.41%	+139.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	218.46%	96.05%	+122.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	218.46%	95.22%	+123.24%

USAX vs. LABU - Expense Ratio Comparison

USAX has a 1.49% expense ratio, which is higher than LABU's 0.96% expense ratio.

Dividends

USAX vs. LABU - Dividend Comparison

USAX 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%
USAX Tradr 2X Long USAR Daily 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 USAX and LABU in my portfolio?

USAX and LABU have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USAX 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, USAX or LABU?

LABU is cheaper with a 0.96% expense ratio, compared with 1.49% for USAX.

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

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

What is the main difference between USAX and LABU?

USAX tracks USA Rare Earth, Inc. (USAR), while LABU tracks S&P Biotechnology Select Industry Index (300%). They also come from different issuers: Tradr and Direxion. Their fees differ too: 1.49% for USAX and 0.96% for LABU.