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LABD vs SRTY

Direxion Daily S&P Biotech Bear 3X ETF

LABDFNYSE Arca

ProShares UltraPro Short Russell2000

SRTYANYSE Arca

Overlap

Expense ratio

SRTY −0.12pt a year

LABD1.07%SRTY0.95%

Avg volume · 30D

LABD 11.7×the volume

LABD18.8MSRTY1.6M

10Y return · a year

SRTY +15.7pt

LABD−58.5%SRTY−42.8%

LABD vs SRTY Performance

Oct 29, 2021 – Oct 30, 2026

−96.2%LABD−82.0%SRTY

Oct 29, 2021 to Oct 30, 2026. LABD −96.2%. SRTY −82.0%. Use the arrow keys to read each point.0%50%100%150%200%Oct 2021Apr 2024Oct 2026
Expense ratio
LABD 1.07%
SRTY 0.95%, better
Fund size
LABD $78M
SRTY $68M
1Y total return
LABD −74.3%
SRTY −37.4%, better
Yield (12M)
LABD 6.59%, better
SRTY 5.87%
Holdings
LABD 6
SRTY 5
Avg volume (30D)
LABD 18.8M sh, better
SRTY 1.6M sh
NAV per share
LABD $6.74
SRTY $26.34
52W range

ETF.net Grade

LABD: Cost 5, Risk 15, Mission not scored, Tradability 46, Holdings not scored, Durability 46. SRTY: Cost 84, Risk 53, Mission 83, Tradability 70, Holdings not scored, Durability 56.
Pillar letters and Scores for LABD, SRTY, with each pillar’s weight
PillarLABDSRTY
Cost30% weightF5A84Higher
Mission25% weightNot scoredA83
Risk15% weightF15C53Higher
Tradability15% weightC46A70Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC46B56Higher

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 SRTY 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 ›

SRTY ranks 3rd 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 4BTZADirexion Daily Small Cap Bear 3X ETFScore 61
  5. Rank 13FWEBSDirexion Daily Dow Jones Internet Bear 3X ETFScore 22
  6. 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

SRTYAProShares UltraPro Short Russell2000

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.

SRTY A one-day instrument by design: SRTY aims for three times the inverse of the Russell 2000's daily move, and it has been the ProShares small-cap bear since 2010.

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.

SRTY SRTY seeks daily investment results, before fees and expenses, equal to three times the inverse daily performance of the Russell 2000 Index.

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.
  • SRTY 0.95% net of a waiver through September 30, 2027 (1.10% gross), which undercuts TZA at 0.99%, the only other 3x small-cap bear in the peer set, and sits below the category median.
  • The mechanism is plain: three times the inverse of the Russell 2000's daily performance, reset each day. That index covers roughly 2,000 of the smallest names in the Russell 3000.proshares.comfidelity.com
  • Listed since 2010 and actively traded, it rates as one of the stronger implementations in its bear-3x peer group.

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.
  • SRTY Daily reset means compounding. Hold past a single day and results can diverge widely from 3x the index's move over that stretch, especially through choppy markets.proshares.com
  • The fee steps toward the 1.10% gross rate if the waiver is not extended past September 30, 2027.
  • Small caps are the jumpier end of US equity, and a 3x inverse multiplies that daily swing in both directions.fidelity.com

Full LABD profile⁠

Full SRTY profile⁠

LABD vs SRTY 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 SRTY Cost

Overpaying LABD vs SRTY

$1,946

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

  • LABD 1.07%

    $19,815

  • SRTY 0.95%

    $17,869

$10,000
30 years

Cost over time

  • LABD 1.07%
  • SRTY 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 $19,815SRTY $17,869

Year by year

YearLABDSRTYOverpaying
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%SRTY, cheaper
  • Middle half of 3x Leveraged Inverse funds
  • Median 1.02%

SRTY 2nd cheapest of 14 funds

LABD 13th cheapest of 14 funds

LABD vs SRTY Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
LABD 6.59%, better
SRTY 5.87%
Payout (12M)
LABD $0.46
SRTY $1.55
Last payment
LABD $0.07
SRTY $0.27
Ex-dividend
LABD Sep 22, 2026
SRTY Sep 23, 2026
Paid on
LABD Sep 29, 2026
SRTY Sep 29, 2026
Frequency
LABD Quarterly
SRTY Quarterly

Distribution history

Per share, 2018 to 2026, same scale for both

LABDQuarterly · 25 paymentsAll LABD payments⁠
One bar per payment. 25 payments from 2018 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$25202020232026YTD
SRTYQuarterly · 10 paymentsAll SRTY payments⁠
One bar per payment. 10 payments from 2018 to 2026 YTD. Mar 20, 2024 $1.50; Jun 26, 2024 $1.99; Dec 23, 2024 $1.80; Mar 26, 2025 $0.89; Jun 25, 2025 $0.68; Sep 24, 2025 $0.63; Dec 24, 2025 $0.72; Mar 25, 2026 $0.27; Jun 24, 2026 $0.29; Sep 23, 2026 $0.27. Use the arrow keys to read each point.$0$25202020232026YTD

LABD vs SRTY Risk

Fall from peak · 5 years

  • LABD
  • SRTY
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%SRTY 54.0%, better
Return per unit of riskSharpe ratio, 3 years
LABD −1.36SRTY −1.04, better
Worst fallMax drawdown, 5 years
LABD −99.2%SRTY −92.8%, better
Market sensitivityBeta, 5 years
LABD −3.12SRTY −3.24

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