LABD vs SPY
Direxion Daily S&P Biotech Bear 3X ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | LABD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.07% | 0.09% | |
| AUM | $61M | $821.1B | |
| Dividend Yield | 4.50% | 1.01% | |
| Holdings | 10 | 505 | |
| YTD Return | -68.57% | +13.21% | |
| 1Y Return | -87.99% | +19.87% | |
| 3Y Return (annualized) | -64.69% | +21.16% | |
| 5Y Return (annualized) | -47.94% | +12.74% | |
| Volatility (annualized) | 87.4% | 15.3% | |
| Max Drawdown | -100.0% | -56.5% | |
| Fund Family | Direxion Shares ETF Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | May 28, 2015 | Jan 22, 1993 |
LABD vs SPY Performance
Direxion Daily S&P Biotech Bear 3X ETF (LABD) is a ETF from Direxion Shares ETF Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year LABD returned -87.99% while SPY returned +19.87%. Year to date, LABD is down 68.57% versus a gain of 13.21% for SPY.
Over three years, LABD compounded at -64.69% per year against +21.16% for SPY; over five years the annualized figures are -47.94% and +12.74% respectively. Across the full 11-year window we track, SPY has the edge at +8.82% annualized vs -56.25%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
LABD has been the more volatile fund, with annualized monthly volatility of 87.4% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -100.0% for LABD and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.53. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
LABD charges 1.07% per year while SPY charges 0.09%. On a $10,000 position that is $107 vs $9 annually, a gap of $98 per year that compounds over a long holding period. On income, LABD currently yields 4.50% against 1.01% for SPY.
Holdings Overlap
LABD and SPY share 0 holdings out of 508 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, LABD or SPY?
LABD has an expense ratio of 1.07% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $98 per year of difference.
Which performed better, LABD or SPY?
Over the past year LABD returned -87.99% vs +19.87% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (11 years), LABD annualized -56.25% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, LABD or SPY?
LABD has been the more volatile fund at 87.4% annualized versus 15.3% for SPY. Worst drawdown: LABD -100.0% vs SPY -56.5%.
Should I hold both LABD and SPY?
LABD and SPY have a monthly-return correlation of -0.53, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between LABD and SPY?
LABD and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 508 unique securities.
Which pays a higher dividend, LABD or SPY?
LABD yields 4.50% while SPY yields 1.01%, so LABD currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.