BMNG vs. NFXS

Last updated Aug 2, 2026

BMNG (Leverage Shares 2X Long BMNR Daily ETF) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both exchange-traded funds - BMNG is a Leveraged Equities fund actively managed by Leverage Shares, while NFXS is a Inverse Equities fund actively managed by Direxion. Both are actively managed. Their -0.13 correlation means they have often moved in opposite directions in the past. BMNG charges 0.75%/yr vs 1.03%/yr for NFXS.

Performance

BMNG vs. NFXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long BMNR Daily ETF (BMNG) and Direxion Daily NFLX Bear 1X Shares (NFXS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BMNG achieves a -78.09% return, which is significantly lower than NFXS's 24.98% return.

BMNG

• 1D: -9.09%
• 1M: 32.74%
• 6M: -71.67%
• YTD: -78.09%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

NFXS

• 1D: 2.11%
• 1M: 7.73%
• 6M: 11.04%
• YTD: 24.98%
• 1Y: 52.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -5.77%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BMNG Leverage Shares 2X Long BMNR Daily ETF	$9.15M	$12.05M	$13.09M
NFXS Direxion Daily NFLX Bear 1X Shares	$587.15K	$968.11K	$646.26K

BMNG vs. NFXS - Yearly Performance Comparison

	2026 (YTD)	2025
BMNG Leverage Shares 2X Long BMNR Daily ETF	-78.09%	-80.50%
NFXS Direxion Daily NFLX Bear 1X Shares	24.98%	16.14%

Correlation

The correlation between BMNG and NFXS is -0.13, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 27, 2025	-0.13

Return for Risk

BMNG vs. NFXS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BMNG

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

NFXS

NFXS Risk / Return Rank: 58
NFXS Sharpe Ratio Rank: 65
NFXS Sortino Ratio Rank: 64
NFXS Omega Ratio Rank: 72
NFXS Calmar Ratio Rank: 47
NFXS Martin Ratio Rank: 42

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BMNG vs. NFXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long BMNR Daily ETF (BMNG) and Direxion Daily NFLX Bear 1X Shares (NFXS). 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.

	BMNG	NFXS	Difference
Sharpe ratio: Return per unit of total volatility	—	1.52	—
Sortino ratio: Return per unit of downside risk	—	2.13	—
Omega ratio: Gain probability vs. loss probability	—	1.30	—
Calmar ratio: Return relative to maximum drawdown	—	1.70	—
Martin ratio: Return relative to average drawdown	—	4.60	—

Drawdowns

BMNG vs. NFXS - Drawdown Comparison

The maximum BMNG drawdown since its inception was -97.32%, which is greater than NFXS's maximum drawdown of -50.37%. Use the drawdown chart below to compare losses from any high point for BMNG and NFXS.

Drawdown Indicators

	BMNG	NFXS	Difference
Max Drawdown Largest peak-to-trough decline	-97.32%	-50.37%	-46.95%
Max Drawdown (1Y) Largest decline over 1 year	—	-31.31%	—
Current Drawdown Current decline from peak	-95.92%	-12.34%	-83.58%
Average Drawdown Average peak-to-trough decline	-84.08%	-30.81%	-53.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.54%	—

Volatility

Volatility by Period

	BMNG	NFXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.93%	—
Volatility (6M) Calculated over the trailing 6-month period	—	28.44%	—
Volatility (1Y) Calculated over the trailing 1-year period	187.45%	35.05%	+152.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	187.45%	34.93%	+152.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	187.45%	34.93%	+152.52%

BMNG vs. NFXS - Expense Ratio Comparison

BMNG has a 0.75% expense ratio, which is lower than NFXS's 1.03% expense ratio.

Dividends

BMNG vs. NFXS - Dividend Comparison

BMNG has not paid dividends to shareholders, while NFXS's dividend yield for the trailing twelve months is around 2.83%.

Position	TTM	2025	2024
BMNG Leverage Shares 2X Long BMNR Daily ETF	0.00%	0.00%	0.00%
NFXS Direxion Daily NFLX Bear 1X Shares	2.83%	3.53%	0.87%

Frequently Asked Questions

Can I hold both BMNG and NFXS in my portfolio?

BMNG and NFXS have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BMNG or NFXS?

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, BMNG or NFXS?

BMNG is cheaper with a 0.75% expense ratio, compared with 1.03% for NFXS.

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

NFXS has the higher dividend yield at 2.83%, compared with 0.00% for BMNG.

What is the main difference between BMNG and NFXS?

BMNG is categorized as Leveraged Equities, while NFXS is Inverse Equities. They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for BMNG and 1.03% for NFXS.