QULL vs. CURE
QULL (ETRACS 2x Leveraged MSCI US Quality Factor TR ETN) and CURE (Direxion Daily Healthcare Bull 3x Shares) are both Leveraged Equities funds - QULL tracks the MSCI USA Sector Neutral Quality Index while CURE tracks the Health Care Select Sector Index (300%). Both are passively managed. Over the past 5 years, QULL returned 16.17%/yr vs 1.51%/yr for CURE. A 0.61 correlation means they provide meaningful diversification when combined. QULL charges 0.95%/yr vs 1.08%/yr for CURE.
Performance
QULL vs. CURE - Performance Comparison
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Returns By Period
In the year-to-date period, QULL achieves a 15.87% return, which is significantly higher than CURE's -7.96% return.
QULL
- 1D
- 0.83%
- 1M
- 4.92%
- YTD
- 15.87%
- 6M
- 15.39%
- 1Y
- 36.85%
- 3Y*
- 31.62%
- 5Y*
- 16.17%
- 10Y*
- —
CURE
- 1D
- -0.55%
- 1M
- 13.53%
- YTD
- -7.96%
- 6M
- -6.00%
- 1Y
- 26.46%
- 3Y*
- 3.05%
- 5Y*
- 1.51%
- 10Y*
- 13.49%
QULL vs. CURE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
QULL ETRACS 2x Leveraged MSCI US Quality Factor TR ETN | 15.87% | 17.61% | 38.03% | 57.07% | -42.00% | 51.36% |
CURE Direxion Daily Healthcare Bull 3x Shares | -7.96% | 22.55% | -8.47% | -9.40% | -20.51% | 80.16% |
Correlation
The correlation between QULL and CURE is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021 | 0.61 |
The correlation between QULL and CURE shifts across timeframes, from 0.44 (1 year) to 0.61 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
QULL vs. CURE — Risk / Return Rank
QULL
CURE
QULL vs. CURE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL) 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.
| QULL | CURE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.13 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 0.85 | +1.15 |
| Martin ratioReturn relative to average drawdown | 8.94 | 1.94 | +7.00 |
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Drawdowns
QULL vs. CURE - Drawdown Comparison
The maximum QULL drawdown since its inception was -51.83%, smaller than the maximum CURE drawdown of -69.19%. Use the drawdown chart below to compare losses from any high point for QULL and CURE.
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Drawdown Indicators
| QULL | CURE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.83% | -69.19% | +17.36% |
Max Drawdown (1Y)Largest decline over 1 year | -18.43% | -31.10% | +12.67% |
Max Drawdown (3Y)Largest decline over 3 years | -36.82% | -51.93% | +15.11% |
Max Drawdown (5Y)Largest decline over 5 years | -51.83% | -52.23% | +0.40% |
Max Drawdown (10Y)Largest decline over 10 years | — | -69.19% | — |
Current DrawdownCurrent decline from peak | 0.00% | -26.94% | +26.94% |
Average DrawdownAverage peak-to-trough decline | -13.98% | -18.16% | +4.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.16% | 13.71% | -9.55% |
Volatility
QULL vs. CURE - Volatility Comparison
The current volatility for ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL) is 5.66%, while Direxion Daily Healthcare Bull 3x Shares (CURE) has a volatility of 14.30%. This indicates that QULL 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.
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Volatility by Period
| QULL | CURE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.66% | 14.30% | -8.64% |
Volatility (6M)Calculated over the trailing 6-month period | 19.08% | 30.87% | -11.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.65% | 44.32% | -19.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.63% | 43.84% | -8.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.08% | 49.59% | -14.51% |
QULL vs. CURE - Expense Ratio Comparison
QULL has a 0.95% expense ratio, which is lower than CURE's 1.08% expense ratio.
Dividends
QULL vs. CURE - Dividend Comparison
QULL has not paid dividends to shareholders, while CURE's dividend yield for the trailing twelve months is around 1.16%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CURE Direxion Daily Healthcare Bull 3x Shares | 1.16% | 1.12% | 1.17% | 2.02% | 0.38% | 0.02% | 0.17% | 0.40% | 0.70% | 0.18% |
QULL ETRACS 2x Leveraged MSCI US Quality Factor TR ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QULL and CURE have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CURE has higher volatility (14.30%) compared to QULL (5.66%). In terms of maximum drawdown, QULL dropped -51.83% vs CURE's -69.19%.
On 5-year performance, QULL leads with 16.17% vs 1.51% for CURE. On fees, QULL is cheaper at 0.95% per year. On volatility, QULL has been the lower-risk option at 5.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QULL has performed better with a 16.17% return vs 1.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QULL is cheaper with a 0.95% expense ratio, compared with 1.08% for CURE.
CURE has the higher dividend yield at 1.16%, compared with 0.00% for QULL.
QULL tracks MSCI USA Sector Neutral Quality Index, while CURE tracks Health Care Select Sector Index (300%). They also come from different issuers: UBS and Direxion. Their fees differ too: 0.95% for QULL and 1.08% for CURE.
QULL currently has the higher Sharpe Ratio (1.50 vs 0.60), 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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