ZETX vs. LABU

Last updated Jul 24, 2026

ZETX (Defiance Daily Target 2X Long ZETA ETF) and LABU (Direxion Daily S&P Biotech Bull 3x Shares) are both Leveraged Equities funds. ZETX is actively managed, while LABU is passively managed. At a 0.20 correlation, their price movements are largely independent. ZETX charges 1.31%/yr vs 0.96%/yr for LABU.

Performance

ZETX vs. LABU - Performance Comparison

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

Returns By Period

ZETX

• 1D: -8.91%
• 1M: -6.45%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

LABU

• 1D: 0.04%
• 1M: 7.89%
• 6M: 29.51%
• YTD: 59.21%
• 1Y: 280.38%
• 3Y*: 29.87%
• 5Y*: -26.30%
• 10Y*: -9.90%
• ALL TIME*: -19.87%

*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	$112.35M	$136.66M	$119.92M
ZETX Defiance Daily Target 2X Long ZETA ETF	$583.26K	$1.08M	$1.15M

ZETX vs. LABU - Yearly Performance Comparison

	2026 (YTD)
ZETX Defiance Daily Target 2X Long ZETA ETF	-5.01%
LABU Direxion Daily S&P Biotech Bull 3x Shares	43.12%

Correlation

The correlation between ZETX and LABU is 0.20, 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 Feb 4, 2026	0.20

Return for Risk

ZETX vs. LABU — Risk / Return Rank

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

ZETX

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: 97
LABU Sortino Ratio Rank: 91
LABU Omega Ratio Rank: 86
LABU Calmar Ratio Rank: 98
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.

ZETX vs. LABU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long ZETA ETF (ZETX) 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.

	ZETX	LABU	Difference
Sharpe ratio: Return per unit of total volatility	—	3.55	—
Sortino ratio: Return per unit of downside risk	—	3.37	—
Omega ratio: Gain probability vs. loss probability	—	1.40	—
Calmar ratio: Return relative to maximum drawdown	—	9.20	—
Martin ratio: Return relative to average drawdown	—	24.87	—

Drawdowns

ZETX vs. LABU - Drawdown Comparison

The maximum ZETX drawdown since its inception was -52.42%, smaller than the maximum LABU drawdown of -99.18%. Use the drawdown chart below to compare losses from any high point for ZETX and LABU.

Drawdown Indicators

	ZETX	LABU	Difference
Max Drawdown Largest peak-to-trough decline	-52.42%	-99.18%	+46.76%
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	-46.12%	-94.39%	+48.27%
Average Drawdown Average peak-to-trough decline	-24.01%	-81.81%	+57.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.40%	—

Volatility

Volatility by Period

	ZETX	LABU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	24.53%	—
Volatility (6M) Calculated over the trailing 6-month period	—	63.82%	—
Volatility (1Y) Calculated over the trailing 1-year period	137.11%	79.61%	+57.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	137.11%	96.09%	+41.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	137.11%	95.22%	+41.89%

ZETX vs. LABU - Expense Ratio Comparison

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

Dividends

ZETX vs. LABU - Dividend Comparison

ZETX 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%
ZETX Defiance Daily Target 2X Long ZETA 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 ZETX and LABU in my portfolio?

ZETX and LABU have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZETX 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, ZETX or LABU?

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

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

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

What is the main difference between ZETX and LABU?

They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.31% for ZETX and 0.96% for LABU.