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Beacon

LABDDirexion Daily S&P Biotech Bear 3X Shares

Take a bet11y track recordRanked #157 of 775 in this goal

Seeks daily investment results that correspond to -300% of the daily performance of the S&P Biotechnology Select Industry Index.

By Direxion Funds · Launched 2015

Annual Cost

1.07%

#5,126 of 5,562 · expensive

Fund Size

$77M

#3,171 of 5,562 · mid-size

Return (1Y)Goal

-85.0%

Track Record

11 years

#1,298 of 5,562 · established

Performance

Total-return NAV · USD
Growth of $10,000
$1,606-83.9%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Equity

Region

North america

Strategy

Inverse

Index tracked

S&P Biotechnology Select Industry Index

What it actually holds

By weight

Concentration

Top 10 holdings = 99.6% of fundconcentrated

GOLDMAN FINANCIAL
70.0%
DREYFUS GOVERNMENT CASH MANAGE
43.9%
GOLDMAN SACHS LIQ ES FD A
33.5%
DREYFUS
2.5%
N/A
-0.3%
N/A
-3.4%
N/A
-3.4%
N/A
-8.4%
N/A
-15.2%
N/A
-19.5%

Asset allocation

Cash
115.9%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
78.0%High

Year-on-year price swings

Max drawdown
-100.0%Severe

Worst peak-to-trough loss

Sharpe (3Y)
-0.53Below average
Sortino (3Y)
-0.73Moderate downside risk

Where to buy

Listing

Exchange
NYSE Arca

Full fund details

Objective
Seeks daily investment results that correspond to -300% of the daily performance of the S&P Biotechnology Select Industry Index.
Strategy
Invests primarily in instruments that provide 3x inverse exposure to the S&P Biotechnology Select Industry Index. Designed for daily trading, the fund is not suitable for long-term holding due to compounding effects.
Inception date
May 28, 2015
Fund family
Direxion Funds

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Leveraged
Warning

Leveraged ETF — not a long-term hold

This fund uses leverage to amplify daily returns (e.g. 2x or 3x of an index). Daily rebalancing creates volatility decay — over weeks and months, the fund's return drifts from the stated multiple. In trending markets with low realised volatility, leveraged index ETFs can outperform their nominal multiple; in sideways or volatile markets they bleed. Designed for short-term tactical use, not buy-and-hold.

Source: Cheng & Madhavan, 'The Dynamics of Leveraged and Inverse ETFs' (2009)

Why we flagged this: strategy=inverse + leveraged_name_or_strategy

Inverse
Warning

Inverse ETF — daily tool only

Delivers the inverse of the benchmark's daily return. The compounding path makes multi-day holding unpredictable even when the benchmark's total move goes your way. Legitimate as a one-day hedge; dangerous as a view.

Source: Cheng & Madhavan (2009)

Why we flagged this: strategy=inverse + inverse_name_or_strategy

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-06-19