CWEB vs. CURE

Last updated Aug 2, 2026

CWEB (Direxion Daily CSI China Internet Index Bull 2x Shares) and CURE (Direxion Daily Healthcare Bull 3x Shares) are both exchange-traded funds - CWEB is a China Equities fund tracking the CSI China Overseas Internet Index (200%), while CURE is a Leveraged Equities fund tracking the Health Care Select Sector Index (300%). Both are passively managed. Over the past 5 years, CWEB returned -34.28%/yr vs 0.86%/yr for CURE. Their 0.27 correlation means their historical movements had little consistent relationship. CWEB charges 1.30%/yr vs 0.94%/yr for CURE.

Performance

CWEB vs. CURE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) and Direxion Daily Healthcare Bull 3x Shares (CURE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CWEB achieves a -36.03% return, which is significantly lower than CURE's 6.99% return.

CWEB

• 1D: 3.09%
• 1M: 28.79%
• 6M: -39.78%
• YTD: -36.03%
• 1Y: -33.46%
• 3Y*: -15.58%
• 5Y*: -34.28%
• 10Y*: —
• ALL TIME*: -19.66%

CURE

• 1D: -1.72%
• 1M: -3.56%
• 6M: 9.07%
• YTD: 6.99%
• 1Y: 68.66%
• 3Y*: 7.13%
• 5Y*: 0.86%
• 10Y*: 13.35%
• ALL TIME*: 24.24%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CURE Direxion Daily Healthcare Bull 3x Shares	$8.40M	$9.61M	$9.25M
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares	$13.22M	$13.80M	$17.15M

CWEB vs. CURE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares	-36.03%	29.04%	0.12%	-32.85%	-59.43%	-79.35%	116.38%	51.24%	-63.01%	166.27%
CURE Direxion Daily Healthcare Bull 3x Shares	6.99%	22.55%	-8.47%	-9.40%	-20.51%	88.30%	5.02%	55.66%	2.82%	69.32%

Correlation

The correlation between CWEB and CURE is 0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.10
Correlation (3Y) Balances recent behavior with more history.	0.16
Correlation (5Y) Shows whether the relationship held over a longer period.	0.19
Correlation (All Time) Calculated using the full available price history since Nov 2, 2016	0.27

The correlation between CWEB and CURE shifts across timeframes, from 0.10 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.

CWEB vs. CURE - Sectors Allocation Comparison

Sectors	CWEB	CURE
Communication Services	46.2%	-
Consumer Cyclical	34.0%	-
Healthcare	5.8%	20.5%
Technology	4.2%	0.1%
Consumer Defensive	4.0%	-
Real Estate	3.9%	-
Financial Services	2.0%	-
Basic Materials	-	-
Energy	-	-
Industrials	-	-
Utilities	-	-

Return for Risk

CWEB vs. CURE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CWEB

CWEB Risk / Return Rank: 4
CWEB Sharpe Ratio Rank: 4
CWEB Sortino Ratio Rank: 4
CWEB Omega Ratio Rank: 4
CWEB Calmar Ratio Rank: 5
CWEB Martin Ratio Rank: 5

CURE

CURE Risk / Return Rank: 63
CURE Sharpe Ratio Rank: 69
CURE Sortino Ratio Rank: 73
CURE Omega Ratio Rank: 60
CURE Calmar Ratio Rank: 66
CURE Martin Ratio Rank: 46

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CWEB vs. CURE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) and Direxion Daily Healthcare Bull 3x Shares (CURE). 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.

	CWEB	CURE	Difference
Sharpe ratio: Return per unit of total volatility	-0.67	1.56	-2.23
Sortino ratio: Return per unit of downside risk	-0.78	2.34	-3.12
Omega ratio: Gain probability vs. loss probability	0.91	1.26	-0.34
Calmar ratio: Return relative to maximum drawdown	-0.53	2.31	-2.85
Martin ratio: Return relative to average drawdown	-0.92	5.20	-6.12

CWEB vs. CURE - Sharpe Ratio Comparison

The current CWEB Sharpe Ratio is -0.67, which is lower than the CURE Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of CWEB and CURE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CWEB vs. CURE - Drawdown Comparison

The maximum CWEB drawdown since its inception was -98.18%, which is greater than CURE's maximum drawdown of -69.19%. Use the drawdown chart below to compare losses from any high point for CWEB and CURE.

Drawdown Indicators

	CWEB	CURE	Difference
Max Drawdown Largest peak-to-trough decline	-98.18%	-69.19%	-28.99%
Max Drawdown (1Y) Largest decline over 1 year	-69.36%	-31.10%	-38.26%
Max Drawdown (3Y) Largest decline over 3 years	-69.36%	-51.93%	-17.43%
Max Drawdown (5Y) Largest decline over 5 years	-92.51%	-52.23%	-40.28%
Max Drawdown (10Y) Largest decline over 10 years	—	-69.19%	—
Current Drawdown Current decline from peak	-97.39%	-15.08%	-82.31%
Average Drawdown Average peak-to-trough decline	-66.00%	-18.17%	-47.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.38%	13.82%	+26.56%

Volatility

CWEB vs. CURE - Volatility Comparison

The current volatility for Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) is 15.76%, while Direxion Daily Healthcare Bull 3x Shares (CURE) has a volatility of 17.62%. This indicates that CWEB experiences smaller price fluctuations and is considered to be less risky than CURE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CWEB	CURE	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.76%	17.62%	-1.86%
Volatility (6M) Calculated over the trailing 6-month period	41.53%	35.23%	+6.30%
Volatility (1Y) Calculated over the trailing 1-year period	55.64%	46.92%	+8.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	93.18%	44.69%	+48.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.32%	49.85%	+30.47%

CWEB vs. CURE - Expense Ratio Comparison

CWEB has a 1.30% expense ratio, which is higher than CURE's 0.94% expense ratio.

Dividends

CWEB vs. CURE - Dividend Comparison

CWEB's dividend yield for the trailing twelve months is around 5.68%, more than CURE's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CURE Direxion Daily Healthcare Bull 3x Shares	1.06%	1.12%	1.17%	2.02%	0.38%	0.02%	0.17%	0.40%	0.70%	0.18%
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares	5.68%	2.77%	4.59%	2.63%	0.00%	0.00%	0.00%	0.64%	1.59%	2.98%

Frequently Asked Questions

Can I hold both CWEB and CURE in my portfolio?

CWEB and CURE have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CWEB or CURE?

CURE has higher volatility (17.62%) compared to CWEB (15.76%). In terms of maximum drawdown, CWEB dropped -98.18% vs CURE's -69.19%.

Which ETF is better, CWEB or CURE?

On 5-year performance, CURE leads with 0.86% vs -34.28% for CWEB. On fees, CURE is cheaper at 0.94% per year. On volatility, CWEB has been the lower-risk option at 15.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CWEB or CURE?

Over the 5-year period, CURE has performed better with a 0.86% return vs -34.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CWEB or CURE?

CURE is cheaper with a 0.94% expense ratio, compared with 1.30% for CWEB.

Which ETF pays a higher dividend yield, CWEB or CURE?

CWEB has the higher dividend yield at 5.68%, compared with 1.06% for CURE.

What is the main difference between CWEB and CURE?

CWEB is categorized as China Equities, while CURE is Leveraged Equities. CWEB tracks CSI China Overseas Internet Index (200%), while CURE tracks Health Care Select Sector Index (300%). Their fees differ too: 1.30% for CWEB and 0.94% for CURE.

Which has better risk-adjusted returns?

CURE currently has the higher Sharpe Ratio (1.56 vs -0.67), 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.