- ISIN
- US0636796171
- CUSIP
- 63679617
- Issuer
- BMO
- Inception Date
- Aug 17, 2021
- Region
- North America (U.S.)
- Category
- Leveraged Equities, Technology Equities
- Leveraged
- 3x
- Index Tracked
- Solactive FANG Innovation Index (300%)
- Domicile
- United States
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Assets Under Management
- $5B
Share Price Chart
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Performance
BULZ Performance Chart
MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) is up 36.9% since the beginning of the year. BULZ is currently trading at $36 per share.
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Returns By Period
MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) has returned 36.93% so far this year and 111.52% over the past 12 months.
MicroSectors FANG & Innovation 3X Leveraged ETNs
- 1D
- -3.61%
- 1M
- -18.62%
- YTD
- 36.93%
- 6M
- 29.06%
- 1Y
- 111.52%
- 3Y*
- 72.50%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.10%
- 1M
- -1.54%
- YTD
- 7.49%
- 6M
- 6.15%
- 1Y
- 20.78%
- 3Y*
- 19.17%
- 5Y*
- 11.44%
- 10Y*
- 13.70%
BULZ Monthly Returns History
Based on dividend-adjusted daily data since Aug 18, 2021, BULZ's average daily return is +0.20%, while the average monthly return is +4.08%. At this rate, an investment would double in approximately 1.4 years.
Historically, 53% of months were positive and 47% were negative. The best month was Apr 2026 with a return of +86.8%, while the worst month was Apr 2022 at -51.1%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 5 months.
On a daily basis, BULZ closed higher 54% of trading days. The best single day was Apr 9, 2025 with a return of +43.0%, while the worst single day was Apr 4, 2025 at -21.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -1.56% | -18.43% | -15.60% | 86.75% | 64.32% | -34.16% | 36.93% | ||||||
| 2025 | 3.70% | -14.98% | -27.10% | -3.57% | 36.08% | 28.98% | 6.57% | 1.93% | 34.62% | 22.75% | -16.61% | -1.69% | 60.09% |
| 2024 | 8.69% | 19.33% | 0.89% | -19.14% | 12.92% | 28.47% | -11.88% | -6.42% | 10.28% | -7.46% | 18.98% | 0.27% | 54.09% |
| 2023 | 58.06% | -3.30% | 41.36% | -9.70% | 44.15% | 20.12% | 15.85% | -8.65% | -17.85% | -5.39% | 48.85% | 19.49% | 394.22% |
| 2022 | -33.79% | -19.51% | 0.61% | -51.09% | -11.79% | -39.94% | 46.86% | -25.13% | -37.86% | 3.64% | 17.01% | -32.73% | -92.26% |
| 2021 | 13.19% | -15.68% | 25.26% | 2.72% | -11.09% | 9.17% |
Benchmark Metrics
MicroSectors FANG & Innovation 3X Leveraged ETNs has an annualized alpha of -7.29%, beta of 4.78, and R2 of 0.80 versus S&P 500 Index. Calculated based on daily prices since August 18, 2021.
- This ETF captured 884.34% of S&P 500 Index gains and 250.48% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- This ETF had an annualized alpha of -7.29% versus S&P 500 Index - delivering less than market exposure alone would predict.
- Beta of 4.78 means this ETF moves significantly more than S&P 500 Index - expect amplified gains in rallies and amplified losses in downturns.
- Alpha
- -7.29%
- Beta
- 4.78
- R²
- 0.80
- Upside Capture
- 884.34%
- Downside Capture
- 250.48%
Expense Ratio
BULZ has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
BULZ ranks 42 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.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) 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.
| BULZ | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.30 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 2.29 | -0.23 |
| Martin ratioReturn relative to average drawdown | 5.31 | 10.15 | -4.84 |
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 FANG & Innovation 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 FANG & Innovation 3X Leveraged ETNs was 94.44%, occurring on Dec 28, 2022. Recovery took 837 trading sessions.
The current MicroSectors FANG & Innovation 3X Leveraged ETNs drawdown is 35.49%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -94.44%Dec 2022 | 1y 1mo | 3y 4mo | 4y 5moNov 2021 - May 2026 |
2026 bear market2026 | -35.49%Jun 2026 | 22d | — | 23d 8hJun 2026 - now |
2021 bear market2021 | -22.71%Oct 2021 | 1mo 4d | 24d | 1mo 28dAug 2021 - Oct 2021 |
2026 correction2026 | -14.04%May 2026 | 7d | 7d | 14dMay 2026 - May 2026 |
2021 correction2021 | -10.77%Nov 2021 | 1d | 9d | 10dNov 2021 - Nov 2021 |
Drawdown Indicators
| BULZ | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.44% | -56.78% | -37.66% |
Max Drawdown (1Y)Largest decline over 1 year | -54.22% | -9.10% | -45.12% |
Max Drawdown (3Y)Largest decline over 3 years | -67.96% | -18.90% | -49.06% |
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 | -35.49% | -3.31% | -32.18% |
Average DrawdownAverage peak-to-trough decline | -58.00% | -10.71% | -47.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.10% | 2.05% | +19.05% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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