BMNZ vs. METD
BMNZ (Defiance Daily Target 2X Short BMNR ETF) and METD (Direxion Daily META Bear 1X ETF) are both Inverse Equities funds. BMNZ is passively managed, while METD is actively managed. At a 0.24 correlation, their price movements are largely independent. BMNZ charges 1.31%/yr vs 1.00%/yr for METD.
Performance
BMNZ vs. METD - Performance Comparison
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Returns By Period
In the year-to-date period, BMNZ achieves a 1.13% return, which is significantly lower than METD's 6.61% return.
BMNZ
- 1D
- 22.76%
- 1M
- 77.00%
- YTD
- 1.13%
- 6M
- 35.73%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
METD
- 1D
- 5.72%
- 1M
- 2.87%
- YTD
- 6.61%
- 6M
- 9.03%
- 1Y
- 8.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BMNZ vs. METD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BMNZ Defiance Daily Target 2X Short BMNR ETF | 1.13% | -0.49% |
METD Direxion Daily META Bear 1X ETF | 6.61% | -7.42% |
Correlation
The correlation between BMNZ and METD is 0.24, 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 Nov 14, 2025 | 0.24 |
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Return for Risk
BMNZ vs. METD — Risk / Return Rank
BMNZ
METD
BMNZ vs. METD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short BMNR ETF (BMNZ) and Direxion Daily META Bear 1X ETF (METD). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| BMNZ | METD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.25 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.01 | -0.38 | +0.39 |
Drawdowns
BMNZ vs. METD - Drawdown Comparison
The maximum BMNZ drawdown since its inception was -70.80%, which is greater than METD's maximum drawdown of -46.03%. Use the drawdown chart below to compare losses from any high point for BMNZ and METD.
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Drawdown Indicators
| BMNZ | METD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.80% | -46.03% | -24.77% |
Max Drawdown (1Y)Largest decline over 1 year | — | -24.38% | — |
Current DrawdownCurrent decline from peak | -43.38% | -31.48% | -11.90% |
Average DrawdownAverage peak-to-trough decline | -51.56% | -28.63% | -22.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 10.83% | — |
Volatility
BMNZ vs. METD - Volatility Comparison
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Volatility by Period
| BMNZ | METD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 10.43% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 27.56% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 190.13% | 35.89% | +154.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 190.13% | 36.57% | +153.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 190.13% | 36.57% | +153.56% |
BMNZ vs. METD - Expense Ratio Comparison
BMNZ has a 1.31% expense ratio, which is higher than METD's 1.00% expense ratio.
Dividends
BMNZ vs. METD - Dividend Comparison
BMNZ has not paid dividends to shareholders, while METD's dividend yield for the trailing twelve months is around 2.56%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BMNZ Defiance Daily Target 2X Short BMNR ETF | 0.00% | 0.00% | 0.00% |
METD Direxion Daily META Bear 1X ETF | 2.56% | 3.35% | 2.30% |
Frequently Asked Questions
BMNZ and METD have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, METD is cheaper at 1.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
METD is cheaper with a 1.00% expense ratio, compared with 1.31% for BMNZ.
METD has the higher dividend yield at 2.56%, compared with 0.00% for BMNZ.
They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.31% for BMNZ and 1.00% for METD.
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