BMNZ vs. PLTD

Last updated Jun 26, 2026

BMNZ (Defiance Daily Target 2X Short BMNR ETF) and PLTD (Direxion Daily PLTR Bear 1X Shares) are both Inverse Equities funds - BMNZ tracks the BitMine Immersion Technologies, Inc. while PLTD tracks the Palantir Technologies Inc. (-100%). Both are passively managed. At a 0.43 correlation, their price movements are largely independent. BMNZ charges 1.31%/yr vs 0.98%/yr for PLTD.

Performance

BMNZ vs. PLTD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Short BMNR ETF (BMNZ) and Direxion Daily PLTR Bear 1X Shares (PLTD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BMNZ achieves a 29.97% return, which is significantly lower than PLTD's 48.30% return.

BMNZ

• 1D: 9.79%
• 1M: 76.32%
• YTD: 29.97%
• 6M: 50.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PLTD

• 1D: 5.23%
• 1M: 23.15%
• YTD: 48.30%
• 6M: 62.34%
• 1Y: 10.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BMNZ vs. PLTD - Yearly Performance Comparison

	2026 (YTD)	2025
BMNZ Defiance Daily Target 2X Short BMNR ETF	29.97%	15.30%
PLTD Direxion Daily PLTR Bear 1X Shares	48.30%	2.37%

Correlation

The correlation between BMNZ and PLTD is 0.43, 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 13, 2025	0.43

Return for Risk

BMNZ vs. PLTD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BMNZ

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

PLTD

PLTD Risk / Return Rank: 12
PLTD Sharpe Ratio Rank: 11
PLTD Sortino Ratio Rank: 14
PLTD Omega Ratio Rank: 13
PLTD Calmar Ratio Rank: 12
PLTD Martin Ratio Rank: 11

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BMNZ vs. PLTD - 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 PLTR Bear 1X Shares (PLTD). 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.

	BMNZ	PLTD	Difference
Sharpe ratio: Return per unit of total volatility	—	0.20	—
Sortino ratio: Return per unit of downside risk	—	0.69	—
Omega ratio: Gain probability vs. loss probability	—	1.08	—
Calmar ratio: Return relative to maximum drawdown	—	0.27	—
Martin ratio: Return relative to average drawdown	—	0.44	—

Drawdowns

BMNZ vs. PLTD - Drawdown Comparison

The maximum BMNZ drawdown since its inception was -70.80%, smaller than the maximum PLTD drawdown of -77.34%. Use the drawdown chart below to compare losses from any high point for BMNZ and PLTD.

Drawdown Indicators

	BMNZ	PLTD	Difference
Max Drawdown Largest peak-to-trough decline	-70.80%	-77.34%	+6.54%
Max Drawdown (1Y) Largest decline over 1 year	—	-39.15%	—
Current Drawdown Current decline from peak	-27.23%	-62.02%	+34.79%
Average Drawdown Average peak-to-trough decline	-50.65%	-59.60%	+8.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	23.83%	—

Volatility

Volatility by Period

	BMNZ	PLTD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	20.18%	—
Volatility (6M) Calculated over the trailing 6-month period	—	38.34%	—
Volatility (1Y) Calculated over the trailing 1-year period	187.04%	51.89%	+135.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	187.04%	63.31%	+123.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	187.04%	63.31%	+123.73%

BMNZ vs. PLTD - Expense Ratio Comparison

BMNZ has a 1.31% expense ratio, which is higher than PLTD's 0.98% expense ratio.

Dividends

BMNZ vs. PLTD - Dividend Comparison

BMNZ has not paid dividends to shareholders, while PLTD's dividend yield for the trailing twelve months is around 2.36%.

Position	TTM	2025
BMNZ Defiance Daily Target 2X Short BMNR ETF	0.00%	0.00%
PLTD Direxion Daily PLTR Bear 1X Shares	2.36%	5.17%

Frequently Asked Questions

Can I hold both BMNZ and PLTD in my portfolio?

BMNZ and PLTD have a correlation of 0.43, 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 PLTD?

On fees, PLTD is cheaper at 0.98% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BMNZ or PLTD?

PLTD is cheaper with a 0.98% expense ratio, compared with 1.31% for BMNZ.

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

PLTD has the higher dividend yield at 2.36%, compared with 0.00% for BMNZ.

What is the main difference between BMNZ and PLTD?

BMNZ tracks BitMine Immersion Technologies, Inc., while PLTD tracks Palantir Technologies Inc. (-100%). They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.31% for BMNZ and 0.98% for PLTD.