BMNZ vs. NFXS
BMNZ (Defiance Daily Target 2X Short BMNR ETF) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both Inverse Equities funds. BMNZ is passively managed, while NFXS is actively managed. At a 0.08 correlation, their price movements are largely independent. BMNZ charges 1.31%/yr vs 1.03%/yr for NFXS.
Performance
BMNZ vs. NFXS - 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 NFXS's 10.42% return.
BMNZ
- 1D
- 22.76%
- 1M
- 77.00%
- YTD
- 1.13%
- 6M
- 35.73%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NFXS
- 1D
- -0.76%
- 1M
- 7.36%
- YTD
- 10.42%
- 6M
- 17.80%
- 1Y
- 46.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BMNZ vs. NFXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BMNZ Defiance Daily Target 2X Short BMNR ETF | 1.13% | -0.49% |
NFXS Direxion Daily NFLX Bear 1X Shares | 10.42% | 22.25% |
Correlation
The correlation between BMNZ and NFXS is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 14, 2025 | 0.08 |
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Return for Risk
BMNZ vs. NFXS — Risk / Return Rank
BMNZ
NFXS
BMNZ vs. NFXS - 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 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.
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 | NFXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.40 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.01 | -0.37 | +0.38 |
Drawdowns
BMNZ vs. NFXS - Drawdown Comparison
The maximum BMNZ drawdown since its inception was -70.80%, which is greater than NFXS's maximum drawdown of -50.37%. Use the drawdown chart below to compare losses from any high point for BMNZ and NFXS.
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Drawdown Indicators
| BMNZ | NFXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.80% | -50.37% | -20.43% |
Max Drawdown (1Y)Largest decline over 1 year | — | -31.31% | — |
Current DrawdownCurrent decline from peak | -43.38% | -22.55% | -20.83% |
Average DrawdownAverage peak-to-trough decline | -51.56% | -32.34% | -19.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 11.42% | — |
Volatility
BMNZ vs. NFXS - Volatility Comparison
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Volatility by Period
| BMNZ | NFXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.64% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 25.94% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 190.13% | 33.08% | +157.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 190.13% | 34.61% | +155.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 190.13% | 34.61% | +155.52% |
BMNZ vs. NFXS - Expense Ratio Comparison
BMNZ has a 1.31% expense ratio, which is higher than NFXS's 1.03% expense ratio.
Dividends
BMNZ vs. NFXS - Dividend Comparison
BMNZ has not paid dividends to shareholders, while NFXS's dividend yield for the trailing twelve months is around 2.83%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BMNZ Defiance Daily Target 2X Short BMNR ETF | 0.00% | 0.00% | 0.00% |
NFXS Direxion Daily NFLX Bear 1X Shares | 2.83% | 3.53% | 0.87% |
Frequently Asked Questions
BMNZ and NFXS have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NFXS is cheaper at 1.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NFXS is cheaper with a 1.03% expense ratio, compared with 1.31% for BMNZ.
NFXS has the higher dividend yield at 2.83%, compared with 0.00% for BMNZ.
They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.31% for BMNZ and 1.03% for NFXS.
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