LABD
·NYSE
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Key Stats
Assets Under Management
77.12MUSD
Fund Flows (1Y)
50.07MUSD
Dividend Yield
10.96%
Discount/Premium to NAV
-0.16%
Shares Outstanding
3.71M
Expense Ratio
0.96%
About Direxion Daily S&P Biotech Bear 3X Shares
Issuer
Rafferty Asset Management, LLC
Brand
Direxion
Inception Date
May 28, 2015
Structure
Open-Ended Fund
Index Tracked
S&P Biotechnology Select Industry Index
Management Style
Passive
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
Asset Class
Equity
Category
Sector
Focus
Health Care
Niche
Biotechnology
Strategy
Equal
Geography
U.S.
Weighting Scheme
Equal
Selection Criteria
Market cap
Returns
1-Month | 3-Month | YTD | 1-Year | 3-Year | 5-Year | |
|---|---|---|---|---|---|---|
Price Performance | -18.52% | -54.01% | -68.38% | -66.12% | -87.90% | -90.58% |
NAV Total Return | -21.38% | -57.22% | -68.83% | -66.50% | -86.84% | -89.85% |
Ratings
No data is currently available
Ainvest’s AI-powered ETF Scoring Algorithm, built to help retail investors make smarter, data-driven decisions. Leveraging deep learning, reinforcement learning, and large language models, the algorithm scores ETFs across five key dimensions: Fund Flow, Momentum, Safety, Fundamentals, and Performance. Each factor is weighted by its correlation to future returns, resulting in a single, actionable score. Backtested over five years with consistently strong predictive accuracy. Ainvest brings institutional-grade artificial intelligence to everyday investors—transforming complexity into clarity with every score.
Holdings Analysis
Sector
No data is currently available
Asset
No data is currently available
Region
No data is currently available
Investment Style
No data is currently available
Top 10 Holdings
Symbol
Ratio
GOLDMAN FINL SQ TRSRY INST 506
46.39%
DREYFUS GOVT CASH MAN INS
44.42%
GOLDMAN SACHS FIN GOV 465 INSTITUT
40.47%
DREYFUS TRSRY SECURITIES CASH MGMT
4.22%
S&P BIOTECHNOLOGY SELECT INDUSTRY INDEX SWAP
-15.07%
S&P BIOTECHNOLOGY SELECT INDUSTRY INDEX SWAP-1
-19.62%
S&P BIOTECHNOLOGY SELECT INDUSTRY INDEX SWAP-2
-27.19%
S&P BIOTECHNOLOGY SELECT INDUSTRY INDEX SWAP-3
-59.69%
S&P BIOTECHNOLOGY SELECT INDUSTRY INDEX SWAP-4
-77.16%
S&P BIOTECHNOLOGY SELECT INDUSTRY INDEX SWAP-5
-101.28%
Top 10 Weight -164.5%
10 Total Holdings
Dividends
Dividend Payout History
Declaration Date | Record Date | Payment Date | Amount |
|---|---|---|---|
| 2025-09-23 | 2025-09-23 | 2025-09-30 | 0.026 |
| 2025-06-24 | 2025-06-24 | 2025-07-01 | 0.037 |
| 2025-03-25 | 2025-03-25 | 2025-04-01 | 0.055 |
| 2024-12-23 | 2024-12-23 | 2024-12-31 | 0.126 |
| 2024-09-24 | 2024-09-24 | 2024-10-01 | 0.058 |
| 2024-06-25 | 2024-06-25 | 2024-07-02 | 0.089 |
| 2024-03-19 | 2024-03-20 | 2024-03-26 | 0.066 |
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Premium/Discount Chart
Premium/Discount to NAV
Price
1M
Assets Under Management
Assets Under Management
1M
Fund Flows
Inflows
Outflows
1M
