CURE vs. TMF
CURE (Direxion Daily Healthcare Bull 3x Shares) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - CURE is a Leveraged Equities fund tracking the Health Care Select Sector Index (300%), while TMF is a Leveraged Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (300%). Both are passively managed. Over the past 10 years, CURE returned 15.35%/yr vs -17.10%/yr for TMF. At a correlation of -0.13, they often move in opposite directions. CURE charges 1.08%/yr vs 1.01%/yr for TMF.
Performance
CURE vs. TMF - Performance Comparison
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Returns By Period
In the year-to-date period, CURE achieves a -3.98% return, which is significantly lower than TMF's -0.03% return. Over the past 10 years, CURE has outperformed TMF with an annualized return of 15.35%, while TMF has yielded a comparatively lower -17.10% annualized return.
CURE
- 1D
- 4.52%
- 1M
- 14.41%
- YTD
- -3.98%
- 6M
- -6.03%
- 1Y
- 39.34%
- 3Y*
- 4.46%
- 5Y*
- 1.58%
- 10Y*
- 15.35%
TMF
- 1D
- -0.11%
- 1M
- 8.39%
- YTD
- -0.03%
- 6M
- -2.97%
- 1Y
- -0.36%
- 3Y*
- -19.98%
- 5Y*
- -30.26%
- 10Y*
- -17.10%
CURE vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CURE Direxion Daily Healthcare Bull 3x Shares | -3.98% | 22.55% | -8.47% | -9.40% | -20.51% | 88.30% | 5.02% | 55.66% | 2.82% | 69.32% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | -0.03% | -2.94% | -35.95% | -13.01% | -72.60% | -19.80% | 39.02% | 34.75% | -11.01% | 22.72% |
Correlation
The correlation between CURE and TMF is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2011 | -0.13 |
The correlation between CURE and TMF shifts across timeframes, from -0.13 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CURE vs. TMF — Risk / Return Rank
CURE
TMF
CURE vs. TMF - 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 20+ Year Treasury Bull 3X ETF (TMF). 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 | TMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.02 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.27 | -0.01 | +1.28 |
| Martin ratioReturn relative to average drawdown | 2.81 | -0.03 | +2.84 |
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Drawdowns
CURE vs. TMF - Drawdown Comparison
The maximum CURE drawdown since its inception was -69.19%, smaller than the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for CURE and TMF.
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Drawdown Indicators
| CURE | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.19% | -92.89% | +23.70% |
Max Drawdown (1Y)Largest decline over 1 year | -31.10% | -26.51% | -4.59% |
Max Drawdown (3Y)Largest decline over 3 years | -51.93% | -56.09% | +4.16% |
Max Drawdown (5Y)Largest decline over 5 years | -52.23% | -88.81% | +36.58% |
Max Drawdown (10Y)Largest decline over 10 years | -69.19% | -92.89% | +23.70% |
Current DrawdownCurrent decline from peak | -23.78% | -91.72% | +67.94% |
Average DrawdownAverage peak-to-trough decline | -18.18% | -43.79% | +25.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.04% | 12.32% | +1.72% |
Volatility
CURE vs. TMF - Volatility Comparison
Direxion Daily Healthcare Bull 3x Shares (CURE) has a higher volatility of 15.54% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 7.19%. This indicates that CURE's price experiences larger fluctuations and is considered to be riskier than TMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CURE | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.54% | 7.19% | +8.35% |
Volatility (6M)Calculated over the trailing 6-month period | 31.42% | 19.68% | +11.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.65% | 28.08% | +16.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.97% | 46.61% | -2.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.58% | 43.86% | +5.72% |
CURE vs. TMF - Expense Ratio Comparison
CURE has a 1.08% expense ratio, which is higher than TMF's 1.01% expense ratio.
Dividends
CURE vs. TMF - Dividend Comparison
CURE's dividend yield for the trailing twelve months is around 1.18%, less than TMF's 3.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CURE Direxion Daily Healthcare Bull 3x Shares | 1.18% | 1.12% | 1.17% | 2.02% | 0.38% | 0.02% | 0.17% | 0.40% | 0.70% | 0.18% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | 3.95% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
Frequently Asked Questions
CURE and TMF have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CURE has higher volatility (15.54%) compared to TMF (7.19%). In terms of maximum drawdown, CURE dropped -69.19% vs TMF's -92.89%.
On 10-year performance, CURE leads with 15.35% vs -17.10% for TMF. On fees, TMF is cheaper at 1.01% per year. On volatility, TMF has been the lower-risk option at 7.19%. 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 15.35% return vs -17.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TMF is cheaper with a 1.01% expense ratio, compared with 1.08% for CURE.
TMF has the higher dividend yield at 3.95%, compared with 1.18% for CURE.
CURE is categorized as Leveraged Equities, while TMF is Leveraged Bonds. CURE tracks Health Care Select Sector Index (300%), while TMF tracks ICE U.S. Treasury 20+ Year Bond Index (300%). Their fees differ too: 1.08% for CURE and 1.01% for TMF.
CURE currently has the higher Sharpe Ratio (0.89 vs -0.01), 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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