Key stats
About Direxion Daily S&P Biotech Bear 3X Shares
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Inception date
May 28, 2015
Structure
Open-Ended Fund
Replication method
Synthetic
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Rafferty Asset Management LLC
Distributor
Foreside Fund Services LLC
LABD is a daily leveraged inverse (-3x) bet on an equal-weighted index of US biotech stocks. The vast majority of the fund's exposure is to biotechnology and medical research but also captures significant exposure to pharmaceuticals as well. As a leveraged product, the fund is not a buy-and-hold investment. It gets its leverage exposure through a through a portfolio of swaps that gets rebalanced at the end of each trading day. Because of that, the fund's return for periods longer than a day becomes path-dependent and is likely to be different from -3x the return of the index for the same period. This makes LABD suitable primarily for short-term traders. Over time, compounding effects can lead to profound differences in expected returns relative to the index.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Cash
Bonds, Cash & Other100.00%
Cash100.00%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
LABD last dividends amounted to 0.05 USD. The quarter before, the issuer paid 0.13 USD in dividends, which shows a 131.36% decrease.
LABD assets under management is 49.52 M USD. It's risen 3.19% over the last month.
LABD fund flows account for −100.88 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, LABD pays dividends to its holders with the dividend yield of 3.79%. The last dividend (Apr 1, 2025) amounted to 0.05 USD. The dividends are paid quarterly.
LABD shares are issued by Rafferty Asset Management LLC under the brand Direxion. The ETF was launched on May 28, 2015, and its management style is Passive.
LABD expense ratio is 1.07% meaning you'd have to pay 1.07% of your investment to help manage the fund.
LABD follows the S&P Biotechnology Select Industry. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
LABD invests in cash.
LABD price has risen by 2.49% over the last month, and its yearly performance shows a −4.33% decrease. See more dynamics on LABD price chart.
NAV returns, another gauge of an ETF dynamics, showed a 16.99% increase in three-month performance and has increased by 0.85% in a year.
NAV returns, another gauge of an ETF dynamics, showed a 16.99% increase in three-month performance and has increased by 0.85% in a year.
LABD trades at a premium (0.13%) meaning the ETF is trading at a higher price than the calculated NAV.