A magnetoresistive sensor having a novel free layer and a method of producing the same are disclosed. The magnetoresistive sensor comprises a pinned layer, a barrier layer disposed over the pinned layer, and a free layer disposed over the barrier layer. The free layer comprises a first magnetic layer disposed over the barrier layer. The first magnetic layer has a positive spin polarization, a positive magnetostriction, and a polycrystalline structure. The free layer further comprises a second magnetic layer disposed over the first magnetic layer. The second magnetic layer has a negative magnetostriction and comprises at least cobalt (Co) and boron (B).