AVXX vs. BMNG

Last updated Jul 12, 2026

AVXX (Defiance Daily Target 2X Long AVAV ETF) and BMNG (Leverage Shares 2X Long BMNR Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.40 correlation, their price movements are largely independent. AVXX charges 1.31%/yr vs 0.75%/yr for BMNG.

Performance

AVXX vs. BMNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long AVAV ETF (AVXX) and Leverage Shares 2X Long BMNR Daily ETF (BMNG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with AVXX having a -78.85% return and BMNG slightly lower at -82.31%.

AVXX

• 1D: -5.25%
• 1M: -44.01%
• 6M: -90.37%
• YTD: -78.85%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BMNG

• 1D: 3.88%
• 1M: -18.49%
• 6M: -85.04%
• YTD: -82.31%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVXX vs. BMNG - Yearly Performance Comparison

	2026 (YTD)	2025
AVXX Defiance Daily Target 2X Long AVAV ETF	-78.85%	-63.02%
BMNG Leverage Shares 2X Long BMNR Daily ETF	-82.31%	-80.50%

Correlation

The correlation between AVXX and BMNG is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 27, 2025	0.40

Return for Risk

AVXX vs. BMNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long AVAV ETF (AVXX) and Leverage Shares 2X Long BMNR Daily ETF (BMNG). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

AVXX vs. BMNG - Drawdown Comparison

The maximum AVXX drawdown since its inception was -92.58%, roughly equal to the maximum BMNG drawdown of -97.32%. Use the drawdown chart below to compare losses from any high point for AVXX and BMNG.

Drawdown Indicators

	AVXX	BMNG	Difference
Max Drawdown Largest peak-to-trough decline	-92.58%	-97.32%	+4.74%
Current Drawdown Current decline from peak	-92.24%	-96.70%	+4.46%
Average Drawdown Average peak-to-trough decline	-65.29%	-83.05%	+17.76%

Volatility

Volatility by Period

	AVXX	BMNG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	160.67%	186.37%	-25.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	160.67%	186.37%	-25.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	160.67%	186.37%	-25.70%

AVXX vs. BMNG - Expense Ratio Comparison

AVXX has a 1.31% expense ratio, which is higher than BMNG's 0.75% expense ratio.

Dividends

AVXX vs. BMNG - Dividend Comparison

AVXX's dividend yield for the trailing twelve months is around 1.70%, while BMNG has not paid dividends to shareholders.

Position	TTM	2025
AVXX Defiance Daily Target 2X Long AVAV ETF	1.70%	0.36%
BMNG Leverage Shares 2X Long BMNR Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVXX and BMNG in my portfolio?

AVXX and BMNG have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AVXX or BMNG?

On fees, BMNG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AVXX or BMNG?

BMNG is cheaper with a 0.75% expense ratio, compared with 1.31% for AVXX.

Which ETF pays a higher dividend yield, AVXX or BMNG?

AVXX has the higher dividend yield at 1.70%, compared with 0.00% for BMNG.

What is the main difference between AVXX and BMNG?

They also come from different issuers: Defiance ETFs and Leverage Shares. Their fees differ too: 1.31% for AVXX and 0.75% for BMNG.