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FAS vs LABU

Direxion Daily Financial Bull 3X ETF

FASANYSE Arca

Direxion Daily S&P Biotech Bull 3X Shares

LABUBNYSE Arca

Overlap

Expense ratio

FAS −0.08pt a year

FAS0.88%LABU0.96%

Avg volume · 30D

LABU 1.00×the volume

FAS413KLABU415K

10Y return · a year

FAS +28.8pt

FAS+20.9%LABU−7.9%

FAS vs LABU Performance

Oct 29, 2021 – Oct 30, 2026

+31.4%FAS−76.4%LABU

Oct 29, 2021 to Oct 30, 2026. FAS +31.4%. LABU −76.4%. Use the arrow keys to read each point.−100%−50%−25%0%50%Oct 2021Apr 2024Oct 2026
Expense ratio
FAS 0.88%, better
LABU 0.96%
Fund size
FAS $2.17B
LABU $673M
1Y total return
FAS +12.3%
LABU +89.6%, better
Yield (12M)
FAS 8.87%, better
LABU 0.37%
Holdings
FAS 87
LABU 168
Avg volume (30D)
FAS 413K sh
LABU 415K sh, better
NAV per share
FAS $168.18
LABU $256.47
52W range

ETF.net Grade

FAS: Cost 92, Risk 69, Mission not scored, Tradability 73, Holdings not scored, Durability 66. LABU: Cost 62, Risk 45, Mission not scored, Tradability 49, Holdings not scored, Durability 59.
Pillar letters and Scores for FAS, LABU, with each pillar’s weight
PillarFASLABU
Cost30% weightA92HigherB62
Mission25% weightNot scoredNot scored
Risk15% weightB69HigherC45
Tradability15% weightA73HigherC49
Holdings10% weightNot scoredNot scored
Durability5% weightB66HigherB59

Rank among 3x Leveraged Long funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. FAS and LABU are both graded against the same 30 3x Leveraged Long funds, so their Grades compare head to head.

3x Leveraged Long⁠

Category · 30 funds
See all 30 ›

FAS ranks 3rd and LABU 11th of 30 funds in the 3x Leveraged Long Category.

  1. Rank 1ATQQQProShares UltraPro QQQScore 86
  2. Rank 2AUDOWProShares UltraPro Dow30Score 81
  3. Rank 3AFASDirexion Daily Financial Bull 3X ETFScore 80
  4. Rank 4ASOXLDirexion Daily Semiconductor Bull 3X ETFScore 76
  5. Rank 10BUMDDProShares UltraPro MidCap 400Score 56
  6. Rank 11BLABUDirexion Daily S&P Biotech Bull 3X SharesScore 54
  7. Rank 12CDFENDirexion Daily Aerospace & Defense Bull 3X SharesScore 51

Our read on each fund

ETF.net Research

FASADirexion Daily Financial Bull 3X ETF

LABUBDirexion Daily S&P Biotech Bull 3X Shares

In short

FAS Born in November 2008 with the banking system on fire, FAS aims to deliver three times the daily move of the Financial Select Sector Index. A one-day tool on roughly 80 financial stocks, built around a single-day objective.

LABU Three times the daily move of an index of roughly 160 biotech stocks, the corner of the market where one trial readout resets the tape. Direxion's 2015-vintage bull leg, with a bear twin wired to the same benchmark.

Stated mandate

FAS The fund seeks a daily return equal to three times the performance of the Financial Select Sector Index, before fees and expenses. It is designed for a single-day objective rather than a multiple of the index’s cumulative return over longer periods.

LABU The fund seeks daily investment results, before fees and expenses, equal to 300% of the performance of the S&P Biotechnology Select Industry Index.

Why people hold it

  • FAS Launched in November 2008, into the crisis itself, and still one of the strongest implementations in its 3x peer group.
  • Costs 0.88% net of a waiver through September 1, 2027 (0.92% gross), below the median for 3x leveraged funds.
  • A multi-billion-dollar fund that trades steadily, so the leverage arrives in a reasonably liquid wrapper.
  • Straightforward plumbing: 3x the daily move of one named large-cap financials index, about 80 stocks, no stock-picking overlay.
  • LABU Fee is 0.96%, under the typical 3x fund's. Leverage is the pricey shelf in ETF land, and this one sits on the cheaper side of it.
  • The 3x rides a basket of roughly 160 biotech names, not one drug story, so no single approval or rejection owns the day.direxion.com
  • Trading since 2015 and actively traded, and it stands in the upper tier of the leveraged bull funds we cover.
  • A bear twin runs -300% of the same index daily, so the other side of the biotech view uses identical plumbing.direxion.com

Worth knowing

  • FAS The 3x goal resets every day. Hold longer and compounding can push results away from three times the index's move over that stretch, especially in choppy markets.
  • Leverage runs both directions: down days are magnified just as sharply, and this is one sector in one direction with no diversification cushion.
  • Not the cheapest 3x on the shelf: SOXL runs 0.75% and TQQQ 0.78%, each net of waivers through September 1, 2027 and September 30, 2027.
  • LABU The 300% target resets every day. Hold past that and compounding takes the wheel, so multi-day results can land far from 3x the index move over the same stretch.direxion.com
  • Leverage is pointed at one volatile industry, so daily swings arrive tripled in both directions. Position sizing does a lot of work here.
  • Distributions land annually or semiannually at most. This is built as a trading tool, not an income stream.

Full FAS profile⁠

Full LABU profile⁠

FAS vs LABU Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FAS vs LABU Cost

Overpaying LABU vs FAS

$1,329

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FAS 0.88%

    $16,705

  • LABU 0.96%

    $18,034

$10,000
30 years

Cost over time

  • FAS 0.88%
  • LABU 0.96%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530LABU $18,034FAS $16,705

Year by year

YearFASLABUOverpaying
10$1,559$1,695$136
20$5,891$6,383$492
30$16,705$18,034$1,329

Expense ratio

  • 0.88%FAS, cheaper
  • 0.96%LABU
  • Middle half of 3x Leveraged Long funds
  • Median 0.96%

FAS 4th cheapest of 30 funds

LABU 11th cheapest of 30 funds

FAS vs LABU Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
FAS 8.87%, better
LABU 0.37%
Payout (12M)
FAS $14.62
LABU $0.91
Last payment
FAS $1.00
LABU $0.91
Ex-dividend
FAS Sep 22, 2026
LABU Dec 23, 2025
Paid on
FAS Sep 29, 2026
LABU Dec 31, 2025
Frequency
FAS Quarterly
LABU Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FASQuarterly · 36 paymentsAll FAS payments⁠
One bar per payment. 36 payments from 2017 to 2026 YTD. Dec 19, 2017 $0.08; Mar 20, 2018 $0.13; Jun 19, 2018 $0.16; Sep 25, 2018 $0.19; Dec 27, 2018 $0.16; Mar 19, 2019 $0.16; Jun 25, 2019 $0.17; Sep 24, 2019 $0.15; Dec 23, 2019 $0.11; Mar 24, 2020 $0.12; Jun 23, 2020 $0.04; Sep 22, 2020 $0.05; Dec 22, 2020 $0.08; Mar 23, 2021 $0.13; Jun 22, 2021 $0.14; Sep 21, 2021 $0.15; Dec 21, 2021 $0.36; Jun 22, 2022 $0.12; Sep 20, 2022 $0.22; Dec 20, 2022 $0.33; Mar 21, 2023 $0.17; Jun 21, 2023 $0.62; Sep 19, 2023 $0.29; Dec 21, 2023 $0.38; Mar 19, 2024 $0.36; Jun 25, 2024 $0.27; Sep 24, 2024 $0.32; Dec 23, 2024 $0.19; Mar 25, 2025 $0.46; Jun 24, 2025 $0.50; Sep 23, 2025 $0.39; Dec 10, 2025 $12.09; Dec 23, 2025 $0.39; Mar 24, 2026 $0.60; Jun 23, 2026 $0.53; Sep 22, 2026 $1.00. Use the arrow keys to read each point.$0$102017202020232026YTD
LABUQuarterly · 17 paymentsAll LABU payments⁠
One bar per payment. 17 payments from 2017 to 2026 YTD. Dec 13, 2017 $2.66; Jun 19, 2018 $0.39; Sep 25, 2018 $1.91; Dec 27, 2018 $1.92; Mar 19, 2019 $2.19; Jun 25, 2019 $0.74; Sep 24, 2019 $0.22; Dec 23, 2019 $0.11; Jun 21, 2023 $0.18; Sep 19, 2023 $0.04; Dec 21, 2023 $0.21; Mar 19, 2024 $0.16; Jun 25, 2024 $0.15; Mar 25, 2025 $0.11; Jun 24, 2025 $0.22; Sep 23, 2025 $0.10; Dec 23, 2025 $0.91. Use the arrow keys to read each point.$0$102017202020232026YTD

FAS vs LABU Risk

Fall from peak · 5 years

  • FAS
  • LABU
Oct 29, 2021 to Oct 30, 2026. Worst fall: LABU −97.1% · Apr 2025. Use the arrow keys to read each point.−100%−75%−50%−25%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
FAS 46.3%, betterLABU 76.7%
Return per unit of riskSharpe ratio, 3 years
FAS 1.03, betterLABU 0.96
Worst fallMax drawdown, 5 years
FAS −66.9%, betterLABU −97.1%
Market sensitivityBeta, 5 years
FAS 2.63LABU 3.16

FAS and LABU in the news

All news⁠

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