- ISIN
- US0636798235
- CUSIP
- 063679823
- Issuer
- Bank of Montreal
- Inception Date
- Apr 2, 2019
- Region
- North America (U.S.)
- Category
- Leveraged Equities
- Leveraged
- 3x
- Index Tracked
- Solactive MicroSectors U.S. Big Banks Index (-300%)
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
- Assets Under Management
- $33M
Highlights
- Avg. Volume (1M)
- 15K
- Avg. Volume Value (1M)
- $674.42K
Share Price Chart
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Performance
BNKU Performance Chart
MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) is up 21.1% since the beginning of the year. BNKU is currently trading at $41 per share.
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Returns By Period
MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) has returned 21.07% so far this year and 65.92% over the past 12 months.
MicroSectors U.S. Big Banks Index 3X Leveraged ETNs
- 1D
- -9.09%
- 1M
- 2.88%
- 6M
- 22.04%
- YTD
- 21.07%
- 1Y
- 65.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 40.81%
Benchmark (S&P 500 Index)
- 1D
- -1.52%
- 1M
- -1.67%
- 6M
- 4.85%
- YTD
- 6.88%
- 1Y
- 14.84%
- 3Y*
- 16.88%
- 5Y*
- 10.73%
- 10Y*
- 12.90%
- ALL TIME*
- 8.04%
BNKU Monthly Returns History
Based on dividend-adjusted daily data since Feb 20, 2025, BNKU's average daily return is +0.24%, while the average monthly return is +3.98%. At this rate, an investment would double in approximately 1.5 years.
Historically, 61% of months were positive and 39% were negative. The best month was May 2025 with a return of +26.6%, while the worst month was Mar 2025 at -27.7%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 3 months.
On a daily basis, BNKU closed higher 57% of trading days. The best single day was Apr 9, 2025 with a return of +26.3%, while the worst single day was Apr 3, 2025 at -26.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.25% | -19.51% | -5.87% | 26.24% | -2.44% | 19.49% | 5.17% | 21.07% | |||||
| 2025 | -10.64% | -27.67% | -14.47% | 26.57% | 24.87% | 8.84% | 11.69% | 5.81% | -4.15% | 4.44% | 19.96% | 34.97% |
Benchmark Metrics
MicroSectors U.S. Big Banks Index 3X Leveraged ETNs has an annualized alpha of 18.74%, beta of 3.19, and R2 of 0.60 versus S&P 500 Index. Calculated based on daily prices since February 20, 2025.
- This ETF captured 381.32% of S&P 500 Index gains and 196.29% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- This ETF generated an annualized alpha of 18.74% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 3.19 means this ETF moves significantly more than S&P 500 Index - expect amplified gains in rallies and amplified losses in downturns.
- Alpha
- 18.74%
- Beta
- 3.19
- R²
- 0.60
- Upside Capture
- 381.32%
- Downside Capture
- 196.29%
Expense Ratio
BNKU has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
BNKU ranks 45 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) and compare them to S&P 500 Index.
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.
| BNKU | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.21 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 1.64 | -0.02 |
| Martin ratioReturn relative to average drawdown | 4.24 | 6.95 | -2.71 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the MicroSectors U.S. Big Banks Index 3X Leveraged ETNs. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the MicroSectors U.S. Big Banks Index 3X Leveraged ETNs was 61.21%, occurring on Apr 4, 2025. Recovery took 76 trading sessions.
The current MicroSectors U.S. Big Banks Index 3X Leveraged ETNs drawdown is 13.51%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-61.21%Apr 2025 | 1mo 13d | 3mo 22d | 5mo 5dFeb 2025 - Jul 2025 | 2025 selloff2025 |
-40.97%Mar 2026 | 1mo 1d | 3mo 5d | 4mo 6dFeb 2026 - Jun 2026 | — |
-19.21%Oct 2025 | 18d | 1mo 3d | 1mo 21dSep 2025 - Nov 2025 | — |
-15.65%Nov 2025 | 7d | 13d | 20dNov 2025 - Dec 2025 | — |
-15.51%Jan 2026 | 16d | 14d | 1moJan 2026 - Feb 2026 | — |
Drawdown Indicators
| BNKU | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.21% | -56.78% | -4.43% |
Max Drawdown (1Y)Largest decline over 1 year | -40.97% | -9.10% | -31.87% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -13.51% | -3.86% | -9.65% |
Average DrawdownAverage peak-to-trough decline | -16.81% | -10.70% | -6.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.58% | 2.14% | +13.44% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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