XBI vs. LABU

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR S&P Biotech ETF (XBI) and Direxion Daily S&P Biotech Bull 3x Shares (LABU).

XBI and LABU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XBI is a passively managed fund by State Street that tracks the performance of the S&P Biotechnology Select Industry Index. It was launched on Feb 6, 2006. LABU is a passively managed fund by Direxion that tracks the performance of the S&P Biotechnology Select Industry Index (300%). It was launched on May 28, 2015. Both XBI and LABU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XBI vs. LABU - Performance Comparison

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

XBI vs. LABU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XBI SPDR S&P Biotech ETF	4.76%	35.89%	1.01%	7.60%	-25.87%	-20.45%	48.33%	32.56%	-15.28%	43.77%
LABU Direxion Daily S&P Biotech Bull 3x Shares	4.20%	79.17%	-26.02%	-13.41%	-80.36%	-64.15%	74.66%	75.50%	-57.61%	149.12%

Returns By Period

In the year-to-date period, XBI achieves a 4.76% return, which is significantly higher than LABU's 4.20% return. Over the past 10 years, XBI has outperformed LABU with an annualized return of 9.32%, while LABU has yielded a comparatively lower -11.81% annualized return.

XBI

• 1D: 7.53%
• 1M: 0.28%
• YTD: 4.76%
• 6M: 27.90%
• 1Y: 58.08%
• 3Y*: 19.00%
• 5Y*: -1.29%
• 10Y*: 9.32%

LABU

• 1D: 22.31%
• 1M: -3.83%
• YTD: 4.20%
• 6M: 78.34%
• 1Y: 175.22%
• 3Y*: 19.86%
• 5Y*: -36.38%
• 10Y*: -11.81%

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

XBI vs. LABU - Expense Ratio Comparison

XBI has a 0.35% expense ratio, which is lower than LABU's 1.12% expense ratio.

LABU

Direxion Daily S&P Biotech Bull 3x Shares

XBI

SPDR S&P Biotech ETF

Return for Risk

XBI vs. LABU — Risk / Return Rank

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

XBI

XBI Risk / Return Rank: 92
XBI Sharpe Ratio Rank: 92
XBI Sortino Ratio Rank: 93
XBI Omega Ratio Rank: 87
XBI Calmar Ratio Rank: 95
XBI Martin Ratio Rank: 94

LABU

LABU Risk / Return Rank: 90
LABU Sharpe Ratio Rank: 92
LABU Sortino Ratio Rank: 90
LABU Omega Ratio Rank: 82
LABU Calmar Ratio Rank: 94
LABU Martin Ratio Rank: 91

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.

XBI vs. LABU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Biotech ETF (XBI) 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.

	XBI	LABU	Difference
Sharpe ratio Return per unit of total volatility	2.02	2.04	-0.02
Sortino ratio Return per unit of downside risk	2.70	2.48	+0.22
Omega ratio Gain probability vs. loss probability	1.34	1.31	+0.03
Calmar ratio Return relative to maximum drawdown	3.72	3.74	-0.01
Martin ratio Return relative to average drawdown	13.98	11.90	+2.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XBI vs. LABU - Sharpe Ratio Comparison

The current XBI Sharpe Ratio is 2.02, which is comparable to the LABU Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of XBI and LABU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XBI	LABU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.02	2.04	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.04	-0.38	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	-0.12	+0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	-0.24	+0.60

Correlation

The correlation between XBI and LABU is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XBI vs. LABU - Dividend Comparison

XBI's dividend yield for the trailing twelve months is around 0.34%, less than LABU's 0.74% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XBI SPDR S&P Biotech ETF	0.34%	0.37%	0.15%	0.02%	0.00%	0.04%	0.20%	0.00%	0.28%	0.24%	0.26%	0.61%
LABU Direxion Daily S&P Biotech Bull 3x Shares	0.74%	0.84%	0.35%	0.35%	0.00%	0.00%	0.00%	0.28%	0.64%	0.17%	0.00%	0.00%

Drawdowns

XBI vs. LABU - Drawdown Comparison

The maximum XBI drawdown since its inception was -63.89%, smaller than the maximum LABU drawdown of -99.18%. Use the drawdown chart below to compare losses from any high point for XBI and LABU.

Drawdown Indicators

	XBI	LABU	Difference
Max Drawdown Largest peak-to-trough decline	-63.89%	-99.18%	+35.29%
Max Drawdown (1Y) Largest decline over 1 year	-13.39%	-36.66%	+23.27%
Max Drawdown (5Y) Largest decline over 5 years	-55.04%	-97.75%	+42.71%
Max Drawdown (10Y) Largest decline over 10 years	-63.89%	-98.96%	+35.07%
Current Drawdown Current decline from peak	-26.17%	-96.33%	+70.16%
Average Drawdown Average peak-to-trough decline	-20.91%	-81.45%	+60.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.71%	12.01%	-8.30%

Volatility

XBI vs. LABU - Volatility Comparison

The current volatility for SPDR S&P Biotech ETF (XBI) is 11.60%, while Direxion Daily S&P Biotech Bull 3x Shares (LABU) has a volatility of 33.99%. This indicates that XBI 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

	XBI	LABU	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.60%	33.99%	-22.39%
Volatility (6M) Calculated over the trailing 6-month period	19.25%	56.88%	-37.63%
Volatility (1Y) Calculated over the trailing 1-year period	29.24%	87.36%	-58.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.23%	95.74%	-63.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.15%	95.91%	-63.76%