CURE vs. QULL
CURE (Direxion Daily Healthcare Bull 3x Shares) and QULL (ETRACS 2x Leveraged MSCI US Quality Factor TR ETN) are both Leveraged Equities funds - CURE tracks the Health Care Select Sector Index (300%) while QULL tracks the MSCI USA Sector Neutral Quality Index. Both are passively managed. Over the past 5 years, CURE returned 1.51%/yr vs 16.17%/yr for QULL. A 0.61 correlation means they provide meaningful diversification when combined. CURE charges 1.08%/yr vs 0.95%/yr for QULL.
Performance
CURE vs. QULL - Performance Comparison
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Returns By Period
In the year-to-date period, CURE achieves a -7.96% return, which is significantly lower than QULL's 15.87% return.
CURE
- 1D
- -0.55%
- 1M
- 13.53%
- YTD
- -7.96%
- 6M
- -6.00%
- 1Y
- 26.46%
- 3Y*
- 3.05%
- 5Y*
- 1.51%
- 10Y*
- 13.49%
QULL
- 1D
- 0.83%
- 1M
- 4.92%
- YTD
- 15.87%
- 6M
- 15.39%
- 1Y
- 36.85%
- 3Y*
- 31.62%
- 5Y*
- 16.17%
- 10Y*
- —
CURE vs. QULL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CURE Direxion Daily Healthcare Bull 3x Shares | -7.96% | 22.55% | -8.47% | -9.40% | -20.51% | 80.16% |
QULL ETRACS 2x Leveraged MSCI US Quality Factor TR ETN | 15.87% | 17.61% | 38.03% | 57.07% | -42.00% | 51.36% |
Correlation
The correlation between CURE and QULL is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021 | 0.61 |
The correlation between CURE and QULL shifts across timeframes, from 0.44 (1 year) to 0.61 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CURE vs. QULL — Risk / Return Rank
CURE
QULL
CURE vs. QULL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Healthcare Bull 3x Shares (CURE) and ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CURE | QULL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.26 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.85 | 2.01 | -1.15 |
| Martin ratioReturn relative to average drawdown | 1.94 | 8.94 | -7.00 |
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Drawdowns
CURE vs. QULL - Drawdown Comparison
The maximum CURE drawdown since its inception was -69.19%, which is greater than QULL's maximum drawdown of -51.83%. Use the drawdown chart below to compare losses from any high point for CURE and QULL.
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Drawdown Indicators
| CURE | QULL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.19% | -51.83% | -17.36% |
Max Drawdown (1Y)Largest decline over 1 year | -31.10% | -18.43% | -12.67% |
Max Drawdown (3Y)Largest decline over 3 years | -51.93% | -36.82% | -15.11% |
Max Drawdown (5Y)Largest decline over 5 years | -52.23% | -51.83% | -0.40% |
Max Drawdown (10Y)Largest decline over 10 years | -69.19% | — | — |
Current DrawdownCurrent decline from peak | -26.94% | 0.00% | -26.94% |
Average DrawdownAverage peak-to-trough decline | -18.16% | -13.98% | -4.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.71% | 4.16% | +9.55% |
Volatility
CURE vs. QULL - Volatility Comparison
Direxion Daily Healthcare Bull 3x Shares (CURE) has a higher volatility of 14.30% compared to ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL) at 5.66%. This indicates that CURE's price experiences larger fluctuations and is considered to be riskier than QULL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CURE | QULL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.30% | 5.66% | +8.64% |
Volatility (6M)Calculated over the trailing 6-month period | 30.87% | 19.08% | +11.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.32% | 24.65% | +19.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.84% | 35.63% | +8.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.59% | 35.08% | +14.51% |
CURE vs. QULL - Expense Ratio Comparison
CURE has a 1.08% expense ratio, which is higher than QULL's 0.95% expense ratio.
Dividends
CURE vs. QULL - Dividend Comparison
CURE's dividend yield for the trailing twelve months is around 1.16%, while QULL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CURE Direxion Daily Healthcare Bull 3x Shares | 1.16% | 1.12% | 1.17% | 2.02% | 0.38% | 0.02% | 0.17% | 0.40% | 0.70% | 0.18% |
QULL ETRACS 2x Leveraged MSCI US Quality Factor TR ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CURE and QULL have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CURE has higher volatility (14.30%) compared to QULL (5.66%). In terms of maximum drawdown, CURE dropped -69.19% vs QULL's -51.83%.
On 5-year performance, QULL leads with 16.17% vs 1.51% for CURE. On fees, QULL is cheaper at 0.95% per year. On volatility, QULL has been the lower-risk option at 5.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QULL has performed better with a 16.17% return vs 1.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QULL is cheaper with a 0.95% expense ratio, compared with 1.08% for CURE.
CURE has the higher dividend yield at 1.16%, compared with 0.00% for QULL.
CURE tracks Health Care Select Sector Index (300%), while QULL tracks MSCI USA Sector Neutral Quality Index. They also come from different issuers: Direxion and UBS. Their fees differ too: 1.08% for CURE and 0.95% for QULL.
QULL currently has the higher Sharpe Ratio (1.50 vs 0.60), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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