CURE vs. SPXS
CURE (Direxion Daily Healthcare Bull 3x Shares) and SPXS (Direxion Daily S&P 500 Bear 3X Shares) are both exchange-traded funds - CURE is a Leveraged Equities fund tracking the Health Care Select Sector Index (300%), while SPXS is a Inverse Equities fund tracking the S&P 500 Index (-300%). Both are passively managed. Over the past 10 years, CURE returned 13.12%/yr vs -41.33%/yr for SPXS. At a correlation of -0.69, they often move in opposite directions. Both charge a 1.08% expense ratio.
Performance
CURE vs. SPXS - Performance Comparison
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Returns By Period
In the year-to-date period, CURE achieves a -0.14% return, which is significantly higher than SPXS's -25.28% return. Over the past 10 years, CURE has outperformed SPXS with an annualized return of 13.12%, while SPXS has yielded a comparatively lower -41.33% annualized return.
CURE
- 1D
- -5.67%
- 1M
- 8.49%
- 6M
- -3.29%
- YTD
- -0.14%
- 1Y
- 42.28%
- 3Y*
- 5.85%
- 5Y*
- 1.16%
- 10Y*
- 13.12%
SPXS
- 1D
- -1.03%
- 1M
- -4.29%
- 6M
- -21.61%
- YTD
- -25.28%
- 1Y
- -40.98%
- 3Y*
- -39.81%
- 5Y*
- -33.39%
- 10Y*
- -41.33%
CURE vs. SPXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CURE Direxion Daily Healthcare Bull 3x Shares | -0.14% | 22.55% | -8.47% | -9.40% | -20.51% | 88.30% | 5.02% | 55.66% | 2.82% | 69.32% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | -25.28% | -41.53% | -42.84% | -45.97% | 36.14% | -58.11% | -70.47% | -56.40% | 3.44% | -44.52% |
Correlation
The correlation between CURE and SPXS is -0.23, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.64 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2011 | -0.69 |
Over the past year, the inverse relationship between CURE and SPXS has weakened: their correlation has moved from -0.69 to -0.23, meaning they move in opposite directions less often than they have historically.
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Return for Risk
CURE vs. SPXS — Risk / Return Rank
CURE
SPXS
CURE vs. SPXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Healthcare Bull 3x Shares (CURE) and Direxion Daily S&P 500 Bear 3X Shares (SPXS). 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 | SPXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.00 | ||
| Sortino ratioReturn per unit of downside risk | +3.27 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.82 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | -0.94 | +2.31 |
| Martin ratioReturn relative to average drawdown | 3.04 | -1.63 | +4.68 |
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Drawdowns
CURE vs. SPXS - Drawdown Comparison
The maximum CURE drawdown since its inception was -69.19%, smaller than the maximum SPXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for CURE and SPXS.
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Drawdown Indicators
| CURE | SPXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.19% | -100.00% | +30.81% |
Max Drawdown (1Y)Largest decline over 1 year | -31.10% | -43.64% | +12.54% |
Max Drawdown (3Y)Largest decline over 3 years | -51.93% | -84.13% | +32.20% |
Max Drawdown (5Y)Largest decline over 5 years | -52.23% | -90.11% | +37.88% |
Max Drawdown (10Y)Largest decline over 10 years | -69.19% | -99.56% | +30.37% |
Current DrawdownCurrent decline from peak | -20.74% | -100.00% | +79.26% |
Average DrawdownAverage peak-to-trough decline | -18.17% | -96.30% | +78.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.95% | 25.12% | -11.17% |
Volatility
CURE vs. SPXS - Volatility Comparison
Direxion Daily Healthcare Bull 3x Shares (CURE) has a higher volatility of 18.02% compared to Direxion Daily S&P 500 Bear 3X Shares (SPXS) at 11.89%. This indicates that CURE's price experiences larger fluctuations and is considered to be riskier than SPXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CURE | SPXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.02% | 11.89% | +6.13% |
Volatility (6M)Calculated over the trailing 6-month period | 34.09% | 30.01% | +4.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.74% | 37.64% | +9.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.47% | 50.75% | -6.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.72% | 53.52% | -3.80% |
CURE vs. SPXS - Expense Ratio Comparison
Both CURE and SPXS have an expense ratio of 1.08%.
Dividends
CURE vs. SPXS - Dividend Comparison
CURE's dividend yield for the trailing twelve months is around 1.14%, less than SPXS's 4.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CURE Direxion Daily Healthcare Bull 3x Shares | 1.14% | 1.12% | 1.17% | 2.02% | 0.38% | 0.02% | 0.17% | 0.40% | 0.70% | 0.18% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | 4.54% | 4.93% | 6.18% | 5.66% | 0.00% | 0.00% | 0.51% | 1.74% | 0.58% | 0.00% |
Frequently Asked Questions
CURE and SPXS have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CURE has higher volatility (18.02%) compared to SPXS (11.89%). In terms of maximum drawdown, CURE dropped -69.19% vs SPXS's -100.00%.
On 10-year performance, CURE leads with 13.12% vs -41.33% for SPXS. Both ETFs have the same 1.08% expense ratio. On volatility, SPXS has been the lower-risk option at 11.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, CURE has performed better with a 13.12% return vs -41.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CURE and SPXS have the same expense ratio: 1.08% per year.
SPXS has the higher dividend yield at 4.54%, compared with 1.14% for CURE.
CURE is categorized as Leveraged Equities, while SPXS is Inverse Equities. CURE tracks Health Care Select Sector Index (300%), while SPXS tracks S&P 500 Index (-300%).
CURE currently has the higher Sharpe Ratio (0.91 vs -1.09), 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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