Direxion Daily S&P Biotech Bear 3X Shares (LABD) Performance
LABD total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −61.4% since Dec 31, 2025
- 1 year
- −74.6% total return
- 5 years
- −47.0% a year
- 10 years
- −57.2% a year
- Since first price
- −54.8% a year since 2015
LABD trailing returns vs SPY, QQQ, AGG
| Period | LABD total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +8.3% | +8.3% | −1.0% | −5.0% | +0.9% |
| 3 months | −5.0% | −5.9% | +3.2% | +1.9% | −0.4% |
| 6 months | −41.3% | −42.3% | +7.8% | +8.4% | −1.5% |
| YTD | −61.4% | −62.2% | +12.3% | +15.1% | −1.0% |
| 1 year | −74.6% | −75.5% | +14.4% | +15.9% | −1.1% |
| 3 years | −96.8%−68.4%/yr | −97.2% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −95.8%−47.0%/yr | −96.4% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | −99.98%−57.2%/yr | −99.98% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionMay 28, 2015 | −99.99%−54.8%/yr | −99.99% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: LABD vs SPY
From May 28, 2015: LABD grew to $1, SPY to $43,219.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
LABD returns by calendar year
1 of 10 full years positive. Best 2021 (+1.9%), worst 2020 (−89.7%). 2026 is year to date.
LABD annual returns table
| Year | LABD | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −61.4% | −72.9% | +12.3% | +15.1% | −1.0% |
| 2025 | −70.1% | −86.2% | +17.7% | +20.8% | +7.2% |
| 2024 | −21.4% | −53.8% | +24.9% | +25.6% | +1.3% |
| 2023 | −41.8% | −68.6% | +26.2% | +54.9% | +5.7% |
| 2022 | −32.7% | −80.5% | −18.2% | −32.6% | −13.0% |
| 2021 | +1.9% | −50.7% | +28.7% | +27.4% | −1.8% |
| 2020 | −89.7% | −96.1% | +18.3% | +48.6% | +7.5% |
| 2019 | −70.8% | −74.4% | +31.2% | +39.0% | +8.5% |
| 2018 | −6.3% | −51.9% | −4.6% | −0.1% | +0.1% |
| 2017 | −75.7% | −76.8% | +21.7% | +32.7% | +3.6% |
| 2016 | −39.0% | −85.6% | +12.0% | +7.1% | +2.4% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
LABD largest drawdowns
Now 99.99% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 11, 2016 | −100.00% | Aug 25, 2026 | not yet | 10.5 years | 10.7 years so far |
| Sep 29, 2015 | −53.8% | Dec 29, 2015 | Jan 19, 2016 | 3 months | 4 months |
| Aug 24, 2015 | −41.6% | Sep 17, 2015 | Sep 28, 2015 | 24 days | 35 days |
| May 28, 2015 | −39.3% | Jul 17, 2015 | Aug 20, 2015 | 50 days | 3 months |
| Jan 19, 2016 | −14.7% | Jan 22, 2016 | Jan 27, 2016 | 3 days | 8 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
LABD risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2015 |
|---|---|---|---|---|
| Annualized return | −66.4% | −48.0% | −56.5% | −55.3% |
| Volatility (annualized) | 71.4% | 76.6% | 77.0% | 87.3% |
| Sharpe ratio | -1.15 | -0.50 | -0.69 | -0.52 |
| Sortino ratio | -1.32 | -0.70 | -0.89 | -0.75 |
| Best month | +38.0% | +63.8% | +63.8% | +130.6% |
| Worst month | −42.5% | −42.5% | −50.9% | −50.9% |
| Best 12 months | +35.7% | +37.3% | +183.2% | +183.2% |
| Worst 12 months | −89.4% | −89.4% | −93.6% | −93.6% |
| Positive months | 36% | 42% | 40% | 40% |
| Beta vs S&P 500 | -3.01 | -2.42 | -2.64 | — |
| Correlation with S&P 500 | -0.52 | -0.50 | -0.53 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
LABD rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 126 | −93.6% | −58.3% | +183.2% | 16% |
| 3-year (a year) | 102 | −70.0% | −55.5% | −17.5% | 0% |
| 5-year (a year) | 78 | −73.4% | −53.2% | −34.6% | 0% |
| 10-year (a year) | 18 | −59.4% | −56.6% | −48.4% | 0% |
Every holding period starting at a month-end since 2015. Returns for 3 years and longer are annualized.
LABD performance overview
Direxion Daily S&P Biotech Bear 3X Shares (LABD) returned −74.6% over the past year and −57.2% a year over ten years, with distributions reinvested. Since its first recorded price in 2015 it has returned −54.8% a year, turning $10,000 into about $1. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −100.00%, from Feb 11, 2016 to Aug 25, 2026; the fund has not yet regained that high. LABD finished 1 of its 10 full calendar years with a gain; the best year was 2021 (+1.9%) and the worst 2020 (−89.7%). Volatility has been 87.3% a year.
Related: LABD chart, LABD dividends. See the LABD overview for the latest quote and fund facts.
LABD performance FAQ
What is the LABD return over the past year?
LABD returned −74.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 75.5%.
What is the average annual return of LABD?
LABD has returned −47.0% a year over 5 years, −57.2% a year over 10 years, −54.8% a year since May 28, 2015 (total return, distributions reinvested).
How much would $10,000 invested in LABD be worth?
$10,000 invested in LABD at its first recorded close on May 28, 2015 would be worth about $1 on October 23, 2026 with distributions reinvested.
What was the worst year for LABD?
The worst calendar year was 2020, with a total return of −89.7%. The best was 2021 at +1.9%.
What is the biggest drawdown of LABD?
The largest peak-to-trough decline was −100.00% between February 11, 2016 and August 25, 2026. It has not yet recovered to that high; it is 99.99% below its peak.
How volatile is LABD?
Over the past 3 years LABD had an annualized volatility of 71.4% and a Sharpe ratio of -1.15 (excess return over 1–3 month T-bills per unit of risk).