HEAL vs. DFEN

Last updated Aug 2, 2026

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

Performance

HEAL vs. DFEN - Performance Comparison

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

Returns By Period

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

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%

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%

*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

HEAL vs. DFEN - Yearly Performance Comparison

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

Correlation

The correlation between HEAL and DFEN 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

HEAL vs. DFEN - Sectors Allocation Comparison

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

Return for Risk

HEAL vs. DFEN — Risk / Return Rank

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

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

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

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.

HEAL vs. DFEN - Risk-Adjusted Trends Comparison

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

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

HEAL vs. DFEN - Sharpe Ratio Comparison

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

HEAL vs. DFEN - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

HEAL vs. DFEN - Volatility Comparison

The current volatility for Global X HealthTech ETF (HEAL) is 6.34%, while Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a volatility of 21.99%. This indicates that HEAL experiences smaller price fluctuations and is considered to be less risky than DFEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

HEAL vs. DFEN - Expense Ratio Comparison

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

Dividends

HEAL vs. DFEN - Dividend Comparison

HEAL's dividend yield for the trailing twelve months is around 0.27%, less than DFEN's 7.51% 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 HEAL and DFEN in my portfolio?

HEAL and DFEN 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, HEAL or DFEN?

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

Which ETF is better, HEAL or DFEN?

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, HEAL or DFEN?

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, HEAL or DFEN?

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

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

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

What is the main difference between HEAL and DFEN?

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

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.