RXL vs. CURE

Last updated Jun 3, 2026

RXL (ProShares Ultra Health Care) and CURE (Direxion Daily Healthcare Bull 3x Shares) are both Leveraged Equities funds - RXL tracks the Dow Jones U.S. Health Care Index (200%) while CURE tracks the Health Care Select Sector Index (300%). Both are passively managed. Over the past 10 years, RXL returned 11.26%/yr vs 11.41%/yr for CURE. With a 0.97 correlation, they move nearly in lockstep. RXL charges 0.95%/yr vs 1.08%/yr for CURE.

Performance

RXL vs. CURE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Health Care (RXL) 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, RXL achieves a -12.60% return, which is significantly higher than CURE's -20.11% return. Both investments have delivered pretty close results over the past 10 years, with RXL having a 11.26% annualized return and CURE not far ahead at 11.41%.

RXL

• 1D: -1.74%
• 1M: 0.70%
• YTD: -12.60%
• 6M: -11.87%
• 1Y: 16.52%
• 3Y*: 2.96%
• 5Y*: 1.75%
• 10Y*: 11.26%

CURE

• 1D: -2.92%
• 1M: 1.15%
• YTD: -20.11%
• 6M: -19.30%
• 1Y: 19.67%
• 3Y*: -0.86%
• 5Y*: -0.04%
• 10Y*: 11.41%

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

RXL vs. CURE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RXL ProShares Ultra Health Care	-12.60%	19.76%	-2.72%	-3.15%	-15.26%	48.06%	19.24%	40.40%	3.38%	46.92%
CURE Direxion Daily Healthcare Bull 3x Shares	-20.11%	22.55%	-8.47%	-9.40%	-20.51%	88.30%	5.02%	55.66%	2.82%	69.32%

Correlation

The correlation between RXL and CURE is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jun 16, 2011	0.97

The correlation between RXL and CURE has been stable across timeframes, ranging from 0.97 to 1.00 - a consistent structural relationship.

RXL vs. CURE - Sectors Allocation Comparison

Sectors	RXL	CURE
Healthcare	78.5%	100.0%
Financial Services	12.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

RXL vs. CURE — Risk / Return Rank

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

RXL

RXL Risk / Return Rank: 18
RXL Sharpe Ratio Rank: 18
RXL Sortino Ratio Rank: 20
RXL Omega Ratio Rank: 19
RXL Calmar Ratio Rank: 18
RXL Martin Ratio Rank: 17

CURE

CURE Risk / Return Rank: 17
CURE Sharpe Ratio Rank: 16
CURE Sortino Ratio Rank: 19
CURE Omega Ratio Rank: 18
CURE Calmar Ratio Rank: 16
CURE Martin Ratio Rank: 16

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.

RXL vs. CURE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Health Care (RXL) 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.

	RXL	CURE	Difference
Sharpe ratio Return per unit of total volatility	0.56	0.46	+0.10
Sortino ratio Return per unit of downside risk	1.03	0.98	+0.06
Omega ratio Gain probability vs. loss probability	1.12	1.11	+0.01
Calmar ratio Return relative to maximum drawdown	0.76	0.64	+0.12
Martin ratio Return relative to average drawdown	1.82	1.49	+0.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RXL vs. CURE - Sharpe Ratio Comparison

The current RXL Sharpe Ratio is 0.56, which is comparable to the CURE Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of RXL 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.

Sharpe Ratios by Period

	RXL	CURE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.56	0.46	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	-0.00	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.23	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.46	-0.06

Drawdowns

RXL vs. CURE - Drawdown Comparison

The maximum RXL drawdown since its inception was -67.70%, roughly equal to the maximum CURE drawdown of -69.19%. Use the drawdown chart below to compare losses from any high point for RXL and CURE.

Drawdown Indicators

	RXL	CURE	Difference
Max Drawdown Largest peak-to-trough decline	-67.70%	-69.19%	+1.49%
Max Drawdown (1Y) Largest decline over 1 year	-21.33%	-31.10%	+9.77%
Max Drawdown (3Y) Largest decline over 3 years	-36.08%	-51.93%	+15.85%
Max Drawdown (5Y) Largest decline over 5 years	-36.08%	-52.23%	+16.15%
Max Drawdown (10Y) Largest decline over 10 years	-51.00%	-69.19%	+18.19%
Current Drawdown Current decline from peak	-20.57%	-36.59%	+16.02%
Average Drawdown Average peak-to-trough decline	-15.85%	-18.14%	+2.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.96%	13.34%	-4.38%

Volatility

RXL vs. CURE - Volatility Comparison

The current volatility for ProShares Ultra Health Care (RXL) is 8.43%, while Direxion Daily Healthcare Bull 3x Shares (CURE) has a volatility of 11.87%. This indicates that RXL 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

	RXL	CURE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.43%	11.87%	-3.44%
Volatility (6M) Calculated over the trailing 6-month period	20.78%	30.02%	-9.24%
Volatility (1Y) Calculated over the trailing 1-year period	29.49%	43.14%	-13.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.60%	43.68%	-14.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.23%	49.51%	-16.28%

RXL vs. CURE - Expense Ratio Comparison

RXL has a 0.95% expense ratio, which is lower than CURE's 1.08% expense ratio.

Dividends

RXL vs. CURE - Dividend Comparison

RXL's dividend yield for the trailing twelve months is around 1.66%, more than CURE's 1.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CURE Direxion Daily Healthcare Bull 3x Shares	1.34%	1.12%	1.17%	2.02%	0.38%	0.02%	0.17%	0.40%	0.70%	0.18%	0.00%	0.00%
RXL ProShares Ultra Health Care	1.66%	1.43%	1.22%	0.18%	0.32%	0.10%	0.15%	0.27%	0.32%	0.11%	0.12%	0.93%

Frequently Asked Questions

Can I hold both RXL and CURE in my portfolio?

With a correlation of 1.00, RXL and CURE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, RXL or CURE?

CURE has higher volatility (11.87%) compared to RXL (8.43%). In terms of maximum drawdown, RXL dropped -67.70% vs CURE's -69.19%.

Which ETF is better, RXL or CURE?

On 10-year performance, CURE leads with 11.41% vs 11.26% for RXL. On fees, RXL is cheaper at 0.95% per year. On volatility, RXL has been the lower-risk option at 8.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RXL or CURE?

Over the 10-year period, CURE has performed better with a 11.41% return vs 11.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RXL or CURE?

RXL is cheaper with a 0.95% expense ratio, compared with 1.08% for CURE.

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

RXL has the higher dividend yield at 1.66%, compared with 1.34% for CURE.

What is the main difference between RXL and CURE?

RXL tracks Dow Jones U.S. Health Care Index (200%), while CURE tracks Health Care Select Sector Index (300%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for RXL and 1.08% for CURE.

Which has better risk-adjusted returns?

RXL currently has the higher Sharpe Ratio (0.56 vs 0.46), 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.