BMNZ vs. BEZ

Last updated Jul 17, 2026

BMNZ (Defiance Daily Target 2X Short BMNR ETF) and BEZ (Tradr 2X Short BE Daily ETF) are both Inverse Equities funds - BMNZ tracks the BitMine Immersion Technologies, Inc. while BEZ tracks the Bloom Energy Corporation (BE). Both are passively managed. At a 0.34 correlation, their price movements are largely independent. BMNZ charges 1.31%/yr vs 1.49%/yr for BEZ.

Performance

BMNZ vs. BEZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Short BMNR ETF (BMNZ) and Tradr 2X Short BE Daily ETF (BEZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BMNZ

• 1D: 4.39%
• 1M: -5.35%
• 6M: 28.59%
• YTD: -13.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BEZ

• 1D: 28.30%
• 1M: 23.72%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BMNZ vs. BEZ - Yearly Performance Comparison

	2026 (YTD)
BMNZ Defiance Daily Target 2X Short BMNR ETF	-24.60%
BEZ Tradr 2X Short BE Daily ETF	-91.65%

Correlation

The correlation between BMNZ and BEZ is 0.34, 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 Feb 11, 2026	0.34

Return for Risk

BMNZ vs. BEZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short BMNR ETF (BMNZ) and Tradr 2X Short BE Daily ETF (BEZ). 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

BMNZ vs. BEZ - Drawdown Comparison

The maximum BMNZ drawdown since its inception was -70.80%, smaller than the maximum BEZ drawdown of -96.31%. Use the drawdown chart below to compare losses from any high point for BMNZ and BEZ.

Drawdown Indicators

	BMNZ	BEZ	Difference
Max Drawdown Largest peak-to-trough decline	-70.80%	-96.31%	+25.51%
Current Drawdown Current decline from peak	-51.51%	-92.46%	+40.95%
Average Drawdown Average peak-to-trough decline	-49.97%	-68.64%	+18.67%

Volatility

Volatility by Period

	BMNZ	BEZ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	184.15%	229.77%	-45.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	184.15%	229.77%	-45.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	184.15%	229.77%	-45.62%

BMNZ vs. BEZ - Expense Ratio Comparison

BMNZ has a 1.31% expense ratio, which is lower than BEZ's 1.49% expense ratio.

Dividends

BMNZ vs. BEZ - Dividend Comparison

Neither BMNZ nor BEZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BMNZ and BEZ in my portfolio?

BMNZ and BEZ have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BMNZ or BEZ?

On fees, BMNZ is cheaper at 1.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BMNZ or BEZ?

BMNZ is cheaper with a 1.31% expense ratio, compared with 1.49% for BEZ.

Which ETF pays a higher dividend yield, BMNZ or BEZ?

BMNZ and BEZ have nearly identical dividend yields, around 0.00%.

What is the main difference between BMNZ and BEZ?

BMNZ tracks BitMine Immersion Technologies, Inc., while BEZ tracks Bloom Energy Corporation (BE). They also come from different issuers: Defiance and Tradr. Their fees differ too: 1.31% for BMNZ and 1.49% for BEZ.