DFEN vs. HEAL

Last updated Aug 2, 2026

DFEN (Direxion Daily Aerospace & Defense Bull 3X Shares) and HEAL (Global X HealthTech ETF) are both exchange-traded funds - DFEN is a Leveraged Equities fund tracking the Dow Jones U.S. Select Aerospace & Defense Index (300% Daily), while HEAL is a Health & Biotech Equities fund tracking the Global X HealthTech Index. Both are passively managed. Over the past 5 years, DFEN returned 33.44%/yr vs -13.37%/yr for HEAL. Their 0.42 correlation means their historical movements had little consistent relationship. DFEN charges 0.96%/yr vs 0.50%/yr for HEAL.

Performance

DFEN vs. HEAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) and Global X HealthTech ETF (HEAL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFEN achieves a 18.12% return, which is significantly higher than HEAL's -7.90% return.

DFEN

• 1D: 2.21%
• 1M: -12.11%
• 6M: -5.05%
• YTD: 18.12%
• 1Y: 45.63%
• 3Y*: 65.26%
• 5Y*: 33.44%
• 10Y*: —
• ALL TIME*: 16.64%

HEAL

• 1D: 0.07%
• 1M: -7.11%
• 6M: -5.44%
• YTD: -7.90%
• 1Y: -12.88%
• 3Y*: -8.61%
• 5Y*: -13.37%
• 10Y*: —
• ALL TIME*: -9.61%

*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)
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	$13.59M	$13.06M	$15.26M
HEAL Global X HealthTech ETF	$245.64K	$221.54K	$214.19K

DFEN vs. HEAL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	18.12%	156.62%	27.07%	24.70%	6.99%	12.72%	52.08%
HEAL Global X HealthTech ETF	-7.90%	-0.62%	-2.87%	-12.61%	-29.99%	-14.21%	16.89%

Correlation

The correlation between DFEN and HEAL is 0.41, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.41
Correlation (3Y) Balances recent behavior with more history.	0.41
Correlation (5Y) Shows whether the relationship held over a longer period.	0.45
Correlation (All Time) Calculated using the full available price history since Jul 30, 2020	0.42

DFEN vs. HEAL - Sectors Allocation Comparison

Sectors	DFEN	HEAL
Industrials	18.5%	-
Basic Materials	0.4%	-
Technology	0.0%	5.3%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	94.1%
Real Estate	-	-
Utilities	-	-

Return for Risk

DFEN vs. HEAL — Risk / Return Rank

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

DFEN

DFEN Risk / Return Rank: 30
DFEN Sharpe Ratio Rank: 27
DFEN Sortino Ratio Rank: 34
DFEN Omega Ratio Rank: 32
DFEN Calmar Ratio Rank: 32
DFEN Martin Ratio Rank: 27

HEAL

HEAL Risk / Return Rank: 5
HEAL Sharpe Ratio Rank: 4
HEAL Sortino Ratio Rank: 4
HEAL Omega Ratio Rank: 4
HEAL Calmar Ratio Rank: 6
HEAL Martin Ratio Rank: 6

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.

DFEN vs. HEAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) and Global X HealthTech ETF (HEAL). 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.

	DFEN	HEAL	Difference
Sharpe ratio: Return per unit of total volatility	0.64	-0.61	+1.25
Sortino ratio: Return per unit of downside risk	1.31	-0.76	+2.07
Omega ratio: Gain probability vs. loss probability	1.15	0.92	+0.24
Calmar ratio: Return relative to maximum drawdown	1.05	-0.45	+1.50
Martin ratio: Return relative to average drawdown	2.21	-0.82	+3.02

DFEN vs. HEAL - Sharpe Ratio Comparison

The current DFEN Sharpe Ratio is 0.64, which is higher than the HEAL Sharpe Ratio of -0.61. The chart below compares the historical Sharpe Ratios of DFEN and HEAL, 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

DFEN vs. HEAL - Drawdown Comparison

The maximum DFEN drawdown since its inception was -91.36%, which is greater than HEAL's maximum drawdown of -65.76%. Use the drawdown chart below to compare losses from any high point for DFEN and HEAL.

Drawdown Indicators

	DFEN	HEAL	Difference
Max Drawdown Largest peak-to-trough decline	-91.36%	-65.76%	-25.60%
Max Drawdown (1Y) Largest decline over 1 year	-41.75%	-30.71%	-11.04%
Max Drawdown (3Y) Largest decline over 3 years	-43.13%	-34.56%	-8.57%
Max Drawdown (5Y) Largest decline over 5 years	-51.96%	-59.14%	+7.18%
Current Drawdown Current decline from peak	-22.59%	-60.24%	+37.65%
Average Drawdown Average peak-to-trough decline	-44.87%	-43.48%	-1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.77%	16.87%	+2.90%

Volatility

DFEN vs. HEAL - Volatility Comparison

Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a higher volatility of 21.99% compared to Global X HealthTech ETF (HEAL) at 6.34%. This indicates that DFEN's price experiences larger fluctuations and is considered to be riskier than HEAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFEN	HEAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.99%	6.34%	+15.65%
Volatility (6M) Calculated over the trailing 6-month period	55.26%	17.24%	+38.02%
Volatility (1Y) Calculated over the trailing 1-year period	67.94%	22.70%	+45.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.84%	26.63%	+34.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.57%	26.25%	+45.32%

DFEN vs. HEAL - Expense Ratio Comparison

DFEN has a 0.96% expense ratio, which is higher than HEAL's 0.50% expense ratio.

Dividends

DFEN vs. HEAL - Dividend Comparison

DFEN's dividend yield for the trailing twelve months is around 7.51%, more than HEAL's 0.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	7.51%	8.89%	14.12%	1.13%	0.46%	1.89%	0.48%	0.50%	1.07%	1.50%
HEAL Global X HealthTech ETF	0.27%	0.33%	0.00%	0.00%	0.00%	0.00%	0.03%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFEN and HEAL in my portfolio?

DFEN and HEAL have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFEN or HEAL?

DFEN has higher volatility (21.99%) compared to HEAL (6.34%). In terms of maximum drawdown, DFEN dropped -91.36% vs HEAL's -65.76%.

Which ETF is better, DFEN or HEAL?

On 5-year performance, DFEN leads with 33.44% vs -13.37% for HEAL. On fees, HEAL is cheaper at 0.50% per year. On volatility, HEAL has been the lower-risk option at 6.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFEN or HEAL?

Over the 5-year period, DFEN has performed better with a 33.44% return vs -13.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFEN or HEAL?

HEAL is cheaper with a 0.50% expense ratio, compared with 0.96% for DFEN.

Which ETF pays a higher dividend yield, DFEN or HEAL?

DFEN has the higher dividend yield at 7.51%, compared with 0.27% for HEAL.

What is the main difference between DFEN and HEAL?

DFEN is categorized as Leveraged Equities, while HEAL is Health & Biotech Equities. DFEN tracks Dow Jones U.S. Select Aerospace & Defense Index (300% Daily), while HEAL tracks Global X HealthTech Index. They also come from different issuers: Direxion and Global X. Their fees differ too: 0.96% for DFEN and 0.50% for HEAL.

Which has better risk-adjusted returns?

DFEN currently has the higher Sharpe Ratio (0.64 vs -0.61), 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.