TMF vs. CURE
TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) and CURE (Direxion Daily Healthcare Bull 3x Shares) are both exchange-traded funds - TMF is a Leveraged Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (300%), while CURE is a Leveraged Equities fund tracking the Health Care Select Sector Index (300%). Both are passively managed. Over the past 10 years, TMF returned -16.87%/yr vs 13.49%/yr for CURE. At a correlation of -0.13, they often move in opposite directions. TMF charges 1.01%/yr vs 1.08%/yr for CURE.
Performance
TMF vs. CURE - Performance Comparison
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Returns By Period
In the year-to-date period, TMF achieves a -5.18% return, which is significantly higher than CURE's -7.96% return. Over the past 10 years, TMF has underperformed CURE with an annualized return of -16.87%, while CURE has yielded a comparatively higher 13.49% annualized return.
TMF
- 1D
- -0.93%
- 1M
- 7.62%
- YTD
- -5.18%
- 6M
- -5.04%
- 1Y
- -1.79%
- 3Y*
- -19.82%
- 5Y*
- -31.10%
- 10Y*
- -16.87%
CURE
- 1D
- -0.55%
- 1M
- 17.48%
- YTD
- -7.96%
- 6M
- -6.00%
- 1Y
- 28.51%
- 3Y*
- 3.05%
- 5Y*
- 1.51%
- 10Y*
- 13.49%
TMF vs. CURE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | -5.18% | -2.94% | -35.95% | -13.01% | -72.60% | -19.80% | 39.02% | 34.75% | -11.01% | 22.72% |
CURE Direxion Daily Healthcare Bull 3x Shares | -7.96% | 22.55% | -8.47% | -9.40% | -20.51% | 88.30% | 5.02% | 55.66% | 2.82% | 69.32% |
Correlation
The correlation between TMF and CURE is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2011 | -0.13 |
The correlation between TMF and CURE shifts across timeframes, from -0.13 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TMF vs. CURE — Risk / Return Rank
TMF
CURE
TMF vs. CURE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) 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.
| TMF | CURE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.13 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.19 | 0.85 | -1.04 |
| Martin ratioReturn relative to average drawdown | -0.41 | 1.94 | -2.35 |
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Drawdowns
TMF vs. CURE - Drawdown Comparison
The maximum TMF drawdown since its inception was -92.89%, which is greater than CURE's maximum drawdown of -69.19%. Use the drawdown chart below to compare losses from any high point for TMF and CURE.
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Drawdown Indicators
| TMF | CURE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.89% | -69.19% | -23.70% |
Max Drawdown (1Y)Largest decline over 1 year | -26.51% | -31.10% | +4.59% |
Max Drawdown (3Y)Largest decline over 3 years | -56.31% | -51.93% | -4.38% |
Max Drawdown (5Y)Largest decline over 5 years | -88.81% | -52.23% | -36.58% |
Max Drawdown (10Y)Largest decline over 10 years | -92.89% | -69.19% | -23.70% |
Current DrawdownCurrent decline from peak | -92.15% | -26.94% | -65.21% |
Average DrawdownAverage peak-to-trough decline | -43.70% | -18.16% | -25.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.96% | 13.71% | -1.75% |
Volatility
TMF vs. CURE - Volatility Comparison
The current volatility for Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) is 8.43%, while Direxion Daily Healthcare Bull 3x Shares (CURE) has a volatility of 14.30%. This indicates that TMF 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
| TMF | CURE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.43% | 14.30% | -5.87% |
Volatility (6M)Calculated over the trailing 6-month period | 19.46% | 30.87% | -11.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.49% | 44.32% | -15.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.72% | 43.84% | +2.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.92% | 49.59% | -5.67% |
TMF vs. CURE - Expense Ratio Comparison
TMF has a 1.01% expense ratio, which is lower than CURE's 1.08% expense ratio.
Dividends
TMF vs. CURE - Dividend Comparison
TMF's dividend yield for the trailing twelve months is around 4.11%, more than CURE's 1.16% yield.
| 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% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | 4.11% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
Frequently Asked Questions
TMF and CURE have a correlation of 0.26, 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 TMF (8.43%). In terms of maximum drawdown, TMF dropped -92.89% vs CURE's -69.19%.
On 10-year performance, CURE leads with 13.49% vs -16.87% for TMF. On fees, TMF is cheaper at 1.01% per year. On volatility, TMF has been the lower-risk option at 8.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, CURE has performed better with a 13.49% return vs -16.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TMF is cheaper with a 1.01% expense ratio, compared with 1.08% for CURE.
TMF has the higher dividend yield at 4.11%, compared with 1.16% for CURE.
TMF is categorized as Leveraged Bonds, while CURE is Leveraged Equities. TMF tracks ICE U.S. Treasury 20+ Year Bond Index (300%), while CURE tracks Health Care Select Sector Index (300%). Their fees differ too: 1.01% for TMF and 1.08% for CURE.
CURE currently has the higher Sharpe Ratio (0.60 vs -0.17), 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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