DFEN vs. HEAL

Last updated Jun 4, 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%), 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 26.54%/yr vs -14.71%/yr for HEAL. At a 0.42 correlation, their price movements are largely independent. DFEN charges 0.99%/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 2.17% return, which is significantly higher than HEAL's -15.57% return.

DFEN

• 1D: -4.54%
• 1M: 12.97%
• YTD: 2.17%
• 6M: 21.41%
• 1Y: 59.57%
• 3Y*: 63.19%
• 5Y*: 26.54%
• 10Y*: —

HEAL

• 1D: -1.16%
• 1M: -2.59%
• YTD: -15.57%
• 6M: -20.78%
• 1Y: -22.08%
• 3Y*: -10.46%
• 5Y*: -14.71%
• 10Y*: —

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

DFEN vs. HEAL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	2.17%	156.62%	27.07%	24.70%	6.99%	12.72%	57.03%
HEAL Global X HealthTech ETF	-15.57%	-0.62%	-2.87%	-12.61%	-29.99%	-14.21%	23.87%

Correlation

The correlation between DFEN and HEAL is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jul 31, 2020	0.42

DFEN vs. HEAL - Sectors Allocation Comparison

Sectors	DFEN	HEAL
Industrials	19.7%	-
Technology	0.0%	3.2%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	96.0%
Real Estate	-	-
Utilities	-	-

Return for Risk

DFEN vs. HEAL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DFEN

DFEN Risk / Return Rank: 27
DFEN Sharpe Ratio Rank: 26
DFEN Sortino Ratio Rank: 29
DFEN Omega Ratio Rank: 27
DFEN Calmar Ratio Rank: 29
DFEN Martin Ratio Rank: 25

HEAL

HEAL Risk / Return Rank: 2
HEAL Sharpe Ratio Rank: 1
HEAL Sortino Ratio Rank: 2
HEAL Omega Ratio Rank: 2
HEAL Calmar Ratio Rank: 3
HEAL Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

	DFEN	HEAL	Difference
Sharpe ratio: Return per unit of total volatility	0.95	-1.01	+1.96
Sortino ratio: Return per unit of downside risk	1.59	-1.40	+2.99
Omega ratio: Gain probability vs. loss probability	1.19	0.85	+0.34
Calmar ratio: Return relative to maximum drawdown	1.43	-0.72	+2.16
Martin ratio: Return relative to average drawdown	3.44	-1.46	+4.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFEN vs. HEAL - Sharpe Ratio Comparison

The current DFEN Sharpe Ratio is 0.95, which is higher than the HEAL Sharpe Ratio of -1.01. 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.

Sharpe Ratios by Period

	DFEN	HEAL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.95	-1.01	+1.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	-0.56	+1.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	-0.39	+0.61

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%	-35.78%	-7.35%
Max Drawdown (5Y) Largest decline over 5 years	-56.23%	-60.36%	+4.13%
Current Drawdown Current decline from peak	-33.04%	-63.55%	+30.51%
Average Drawdown Average peak-to-trough decline	-45.27%	-43.02%	-2.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.36%	15.13%	+2.23%

Volatility

DFEN vs. HEAL - Volatility Comparison

Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a higher volatility of 22.35% compared to Global X HealthTech ETF (HEAL) at 5.21%. 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	22.35%	5.21%	+17.14%
Volatility (6M) Calculated over the trailing 6-month period	53.06%	15.69%	+37.37%
Volatility (1Y) Calculated over the trailing 1-year period	63.21%	21.89%	+41.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.16%	26.37%	+33.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.48%	26.18%	+45.30%

DFEN vs. HEAL - Expense Ratio Comparison

DFEN has a 0.99% 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 8.74%, more than HEAL's 0.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	8.74%	8.89%	14.12%	1.13%	0.46%	1.89%	0.48%	0.50%	1.07%	1.50%
HEAL Global X HealthTech ETF	0.39%	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 0.39, 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 (22.35%) compared to HEAL (5.21%). 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 26.54% vs -14.71% for HEAL. On fees, HEAL is cheaper at 0.50% per year. On volatility, HEAL has been the lower-risk option at 5.21%. 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 26.54% return vs -14.71%. 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 0.99% for DFEN.

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

DFEN has the higher dividend yield at 8.74%, compared with 0.39% 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%), while HEAL tracks Global X HealthTech Index. They also come from different issuers: Direxion and Global X. Their fees differ too: 0.99% for DFEN and 0.50% for HEAL.

Which has better risk-adjusted returns?

DFEN currently has the higher Sharpe Ratio (0.95 vs -1.01), 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.