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LABD vs SDOW

Direxion Daily S&P Biotech Bear 3X ETF

LABDFNYSE Arca

ProShares UltraPro Short Dow30

SDOWANYSE Arca

Overlap

Expense ratio

SDOW −0.12pt a year

LABD1.07%SDOW0.95%

Avg volume · 30D

LABD 4.9×the volume

LABD18.8MSDOW3.85M

10Y return · a year

SDOW +20.9pt

LABD−58.5%SDOW−37.6%

LABD vs SDOW Performance

Oct 29, 2021 – Oct 30, 2026

−96.2%LABD−73.1%SDOW

Oct 29, 2021 to Oct 30, 2026. LABD −96.2%. SDOW −73.1%. Use the arrow keys to read each point.0%50%100%150%200%Oct 2021Apr 2024Oct 2026
Expense ratio
LABD 1.07%
SDOW 0.95%, better
Fund size
LABD $78M
SDOW $154M
1Y total return
LABD −74.3%
SDOW −21.9%, better
Yield (12M)
LABD 6.59%, better
SDOW 4.76%
Holdings
LABD 6
SDOW 10
Avg volume (30D)
LABD 18.8M sh, better
SDOW 3.85M sh
NAV per share
LABD $6.74
SDOW $25.01
52W range

ETF.net Grade

LABD: Cost 5, Risk 15, Mission not scored, Tradability 46, Holdings not scored, Durability 46. SDOW: Cost 84, Risk 69, Mission 78, Tradability 81, Holdings 0, Durability 67.
Pillar letters and Scores for LABD, SDOW, with each pillar’s weight
PillarLABDSDOW
Cost30% weightF5A84Higher
Mission25% weightNot scoredA78
Risk15% weightF15B69Higher
Tradability15% weightC46A81Higher
Holdings10% weightNot scoredF0
Durability5% weightC46B67Higher

Rank among 3x Leveraged Inverse funds

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

Same Category. LABD and SDOW are both graded against the same 14 3x Leveraged Inverse funds, so their Grades compare head to head.

3x Leveraged Inverse⁠

Category · 14 funds
See all 14 ›

SDOW ranks 2nd and LABD 14th of 14 funds in the 3x Leveraged Inverse Category.

  1. Rank 1ASQQQProShares UltraPro Short QQQScore 83
  2. Rank 2ASDOWProShares UltraPro Short Dow30Score 78
  3. Rank 3ASRTYProShares UltraPro Short Russell2000Score 71
  4. Rank 13FWEBSDirexion Daily Dow Jones Internet Bear 3X ETFScore 22
  5. Rank 14FLABDDirexion Daily S&P Biotech Bear 3X ETFScore 19

Our read on each fund

ETF.net Research

LABDFDirexion Daily S&P Biotech Bear 3X ETF

SDOWAProShares UltraPro Short Dow30

In short

LABD Biotech headlines cut both ways, and LABD takes the short side at triple speed: it aims for 300% of the inverse daily move in the S&P Biotechnology Select Industry Index, reset every close.

SDOW The only -3x ETF pointed at the Dow. SDOW aims to deliver three times the inverse of the index's daily move, reset at each close, for 0.95% net of a waiver through September 30, 2027.

Stated mandate

LABD 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.

SDOW SDOW seeks daily investment results, before fees and expenses, corresponding to three times the inverse of the daily performance of the Dow Jones Industrial Average.

Why people hold it

  • LABD One ticker, no margin account and no borrowing shares, for a bearish biotech view: the fund targets 300% of the index's inverse daily return, before fees and expenses.direxion.com
  • The underlying S&P Select Industry index is equal or capped market-cap weighted, so clinical-stage small caps carry weight alongside big names and sector news hits harder.spglobal.com
  • 1.07% a year (1.08% gross, net of a waiver through September 1, 2027) sits near the typical 3x bear fee, above SQQQ at 0.94% and SOXS at 1.00%.
  • Listed in 2015 and traded actively since, through several biotech boom-and-bust stretches, so there is a long intraday record to study.
  • SDOW ProShares calls it the only -3x ETF built to move against the Dow's daily price, so a bearish view on the 30 blue chips has one address, not a Nasdaq or small-cap stand-in.proshares.com
  • 0.95% net of a waiver through September 30, 2027 (0.98% gross) lands below the 3x bear median, next to SQQQ at 0.94% and SRTY at 0.95% net of a waiver through the same date.
  • Running since 2010 and actively traded, it sits among the stronger implementations in the 3x bear group, which matters for a tool used in days rather than years.

Worth knowing

  • LABD Daily reset: the stated objective covers one day only, and over longer holds compounding can push results well away from -3x the index move, especially in choppy tape.direxion.com
  • Triple inverse on one of the market's twitchiest sectors means losses stack up fast on biotech rallies; the structure assumes active, hands-on monitoring.direxion.com
  • Across our 3x bear review group it lands in the lower tier, mostly on cost and the volatility baked into its underlying sector.
  • SDOW The -3x target is a one-day target. Held longer, compounding can push results away from -3x the Dow's move over the same stretch, especially after choppy markets.proshares.com
  • Leverage cuts both ways: on a day the Dow rises, the fund is designed to lose roughly three times as much.proshares.com
  • Exposure comes from swaps and futures rather than Dow shares, and the fee runs above a plain Dow index fund.proshares.com

Full LABD profile⁠

Full SDOW profile⁠

LABD vs SDOW 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.

LABD vs SDOW Cost

Overpaying LABD vs SDOW

$1,946

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

  • LABD 1.07%

    $19,815

  • SDOW 0.95%

    $17,869

$10,000
30 years

Cost over time

  • LABD 1.07%
  • SDOW 0.95%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530LABD $19,815SDOW $17,869

Year by year

YearLABDSDOWOverpaying
10$1,881$1,678$203
20$7,046$6,322$724
30$19,815$17,869$1,946

Expense ratio

  • 1.07%LABD
  • 0.95%SDOW, cheaper
  • Middle half of 3x Leveraged Inverse funds
  • Median 1.02%

SDOW 2nd cheapest of 14 funds

LABD 13th cheapest of 14 funds

LABD vs SDOW Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
LABD 6.59%, better
SDOW 4.76%
Payout (12M)
LABD $0.46
SDOW $1.19
Last payment
LABD $0.07
SDOW $0.29
Ex-dividend
LABD Sep 22, 2026
SDOW Sep 23, 2026
Paid on
LABD Sep 29, 2026
SDOW Sep 29, 2026
Frequency
LABD Quarterly
SDOW Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

LABDQuarterly · 25 paymentsAll LABD payments⁠
One bar per payment. 25 payments from 2017 to 2026 YTD. Mar 20, 2018 $8.88; Jun 19, 2018 $4.88; Sep 25, 2018 $17.16; Dec 27, 2018 $38.27; Mar 19, 2019 $11.29; Jun 25, 2019 $17.48; Sep 24, 2019 $11.71; Dec 23, 2019 $2.78; Mar 24, 2020 $9.95; Dec 20, 2022 $0.92; Mar 21, 2023 $2.18; Jun 21, 2023 $1.00; Sep 19, 2023 $1.92; Dec 21, 2023 $0.85; Mar 19, 2024 $0.66; Jun 25, 2024 $0.89; Sep 24, 2024 $0.58; Dec 23, 2024 $1.26; Mar 25, 2025 $0.55; Jun 24, 2025 $0.37; Sep 23, 2025 $0.26; Dec 23, 2025 $0.23; Mar 24, 2026 $0.09; Jun 23, 2026 $0.08; Sep 22, 2026 $0.07. Use the arrow keys to read each point.$0$252017202020232026YTD
SDOWQuarterly · 26 paymentsAll SDOW payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $1.10; Mar 21, 2018 $2.04; Jun 20, 2018 $2.87; Sep 26, 2018 $3.60; Dec 26, 2018 $6.62; Mar 20, 2019 $2.73; Jun 25, 2019 $4.55; Sep 25, 2019 $3.69; Dec 24, 2019 $2.27; Mar 25, 2020 $1.06; Dec 22, 2022 $0.39; Mar 22, 2023 $0.88; Jun 21, 2023 $1.03; Sep 20, 2023 $1.03; Dec 20, 2023 $1.01; Mar 20, 2024 $1.01; Jun 26, 2024 $1.10; Sep 25, 2024 $0.93; Dec 23, 2024 $1.17; Mar 26, 2025 $0.61; Jun 25, 2025 $0.39; Sep 24, 2025 $0.41; Dec 24, 2025 $0.44; Mar 25, 2026 $0.24; Jun 24, 2026 $0.22; Sep 23, 2026 $0.29. Use the arrow keys to read each point.$0$252017202020232026YTD

LABD vs SDOW Risk

Fall from peak · 5 years

  • LABD
  • SDOW
Oct 29, 2021 to Oct 30, 2026. Worst fall: LABD −99.2% · Aug 2026. Use the arrow keys to read each point.−100%−75%−50%−25%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
LABD 68.2%SDOW 34.4%, better
Return per unit of riskSharpe ratio, 3 years
LABD −1.36SDOW −1.22, better
Worst fallMax drawdown, 5 years
LABD −99.2%SDOW −85.1%, better
Market sensitivityBeta, 5 years
LABD −3.12SDOW −2.46

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