Direxion Daily S&P Biotech Bear 3X ETF
DThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.
$8.59+0.73 (+9.36%)
- 1.08%
- $126M
- −76.8%
- 5.85%
- 16.3M sh
- $7.52
- low $5.81high $36.72
The ETF.net LABD Grade
D
Score 38 out of 100
- 10 of 14
Score 38 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C42 out of 100Rank 8 of 14Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.F15 out of 100Rank 13 of 14Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C49 out of 100Rank 8 of 14Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B56 out of 100Rank 5 of 14
Our read on LABD
DBiotech trades on binary headlines, and LABD is the downside lever: 300% of the inverse daily move of the S&P Biotechnology Select Industry Index, reset every session. Built for the trading day, not the year.
The fund seeks daily investment results equal to 300% of the inverse performance of the S&P Biotechnology Select Industry Index, before fees and expenses.
Why people hold it
- Runs 1.08% a year, under the typical leveraged or inverse fund's fee. Not cheap in absolute terms, but the low end of a pricey neighborhood.
- Aims at a modified equal-weight biotech index, so the short lands across dozens of small and mid-cap drug developers instead of two or three mega-caps.ssga.com
- One of the busier inverse sector funds, so fills and spreads are rarely the hard part on a day biotech is moving.
- Trading since 2015, with a 3x bull twin on the same index. Flipping direction doesn't mean switching benchmarks.direxion.com
Worth knowing
- The -3x target resets daily. Over longer stretches, compounding pulls results away from three times the index move; the prospectus frames it as a short-term trading vehicle.sec.gov
- Shorting biotech means a buyout or a trial readout can jolt the index against you, tripled. Risk sits at the extreme end even among leveraged funds.
- Distributions arrive quarterly and are incidental. This is a directional tool, not an income holding.
LABD Holdings
- Other
- 6
- 151%
- Spsibi Swap Asset Leg (Spsibimls)
LABD Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
LABD$2,315
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | LABD |
|---|---|
| Year to date | −61.8% |
| 1 month | +6.9% |
| 3 months | +5.8% |
| 1 year | −76.8% |
| 3 years | −67.0% |
| 5 years | −47.0% |
| 10 years | −57.0% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | LABD |
|---|---|---|
| 2026 YTD | −61.8% | |
| 2025 | −70.1% | |
| 2024 | −21.4% | |
| 2023 | −41.8% | |
| 2022 | −32.7% | |
| 2021 | +1.9% | |
| 2020 | −89.7% |
LABD in the news
LABD Dividends
- 5.85%
- $0.46
- $0.07 per share
- Quarterly
Distribution history
LABD Risk
This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.
- 71.4%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −1.15
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −99.2%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- −3.28
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
LABD Cost
1.08%
LABD1.08%
- The middle half of 3x Leveraged Inverse funds
- Median 1.05%
8 of the 14 3x Leveraged Inverse funds charge less.
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