# LABU (Direxion Daily S&P Biotech Bull 3X ETF)

Direxion · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: LABU returned +46.3% where its own daily promise gave +50.0%, 3.7 points short.

## Key facts

- LABU, what XBI did: +16.9%, as of Sep 11, 2026.
- LABU, what +3 times a day gives: +50.0%, as of Sep 11, 2026.
- LABU, what the fund returned: +46.3%, as of Sep 11, 2026.
- LABU, the fund itself cost: −3.7 pts, as of Sep 11, 2026.
- LABU, net assets: $519m (source, as filed for Apr 30, 2026).
- LABU, expense ratio: 0.96% (485BPOS XBRL, Feb 26, 2026).

## LABU over each window to Sep 11, 2026

| Window | Fund | XBI | +3x the move | Difference | XBI moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −8.9% | −2.0% | −6.0% | −2.9 pts | 32% |
| 3 months | +46.3% | +16.9% | +50.6% | −4.3 pts | 29% |
| 6 months | +75.5% | +28.3% | +85.0% | −9.4 pts | 31% |
| 1 year | +217.9% | +64.0% | +191.8% | +26.0 pts | 28% |
| 3 years | +172.2% | +98.6% | +295.9% | −123.7 pts | 28% |
| Since launch | −91.4% | +102.3% | not meaningful over this window | not meaningful over this window | 33% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +3 times the daily move of XBI, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.75 times, against +3 stated | ETFIQ |
| Underlying | XBI | ETFIQ |
| Segment | sector or country, sector | ETFIQ |
| Net assets | $519m | source, as filed for Apr 30, 2026 |
| Expense ratio | 0.96% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | May 28, 2015 | ETFIQ |
| Underlying volatility over the window | 29% annualized | ETFIQ |

## Questions

### Did LABU return +3 times XBI?

Over the window to Sep 11, 2026, XBI moved +16.9% and LABU returned +46.3%. 3 times that move is +50.6%, so the fund came out 4.3 points short of it.

### Why does LABU not return +3 times over a year?

Because it resets daily. LABU aims at +3 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +3 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, LABU, data as of Sep 11, 2026. https://etfiq.com/funds/LABU
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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