A tunneling magnetoresistance (TMR) read sensor with a Co—Fe—B lower sense layer and a Co—Hf upper sense layer is disclosed. In order for the dual sense layers to exhibit a negative saturation magnetostriction (λS), their Fe contents are either substantially reduced or even eliminated, instead of adding a conventional Ni—Fe film as an additional sense layer. By optimizing compositions and thicknesses of the dual sense layers, the dual sense layers indeed exhibit a negative λS, while the TMR sensor exhibits a TMR coefficient (ΔRT/RJ) of greater than 80% at a junction resistance-area product (RJAJ) of less than 2 Ω-μm2.