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

Direxion · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: LABU returned −5.8% where its own daily promise gave −4.0%, 1.9 points short.

## Key facts

- LABU, what XBI did: +0.7%, as of Sep 30, 2026.
- LABU, what 3 times a day gives: −4.0%, as of Sep 30, 2026.
- LABU, what the fund returned: −5.8%, as of Sep 30, 2026.
- LABU, the fund itself cost: −1.9 pts, as of Sep 30, 2026.
- LABU, net assets: $603m (issuer page, as of Sep 30, 2026).
- LABU, expense ratio: 0.96% (485BPOS XBRL, Feb 26, 2026).

## LABU over each window to Sep 30, 2026

| Window | Fund | XBI | +3x the move | Difference | XBI moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −10.3% | −3.0% | −8.9% | −1.4 pts | 24% |
| 3 months | −5.8% | +0.7% | +2.2% | −8.0 pts | 29% |
| 6 months | +56.7% | +22.8% | +68.3% | −11.7 pts | 29% |
| 1 year | +185.4% | +58.0% | +174.1% | +11.4 pts | 28% |
| 3 years | +254.5% | +117.3% | not meaningful over this window | not meaningful over this window | 28% |
| Since launch | −91.3% | +104.2% | 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 | XBI moved +0.7% over this window, too little to read a multiple from | ETFIQ |
| Underlying | XBI | ETFIQ |
| Segment | sector or country, sector | ETFIQ |
| Net assets | $603m | issuer page, as of Sep 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 30, 2026, XBI moved +0.7% and LABU returned −5.8%. 3 times that move is +2.2%, so the fund came out 8.0 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 30, 2026. https://etfiq.com/funds/labu
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/labu  ·  JSON: https://etfiq.com/funds/labu.json