BMNZ vs. SVIX
BMNZ (Defiance Daily Target 2X Short BMNR ETF) and SVIX (Volatility Shares -1x Short VIX Futures ETF) are both Inverse Equities funds. At a correlation of -0.41, they often move in opposite directions. BMNZ charges 1.31%/yr vs 1.47%/yr for SVIX.
Performance
BMNZ vs. SVIX - Performance Comparison
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Returns By Period
In the year-to-date period, BMNZ achieves a 1.13% return, which is significantly higher than SVIX's -11.60% return.
BMNZ
- 1D
- 22.76%
- 1M
- 77.00%
- YTD
- 1.13%
- 6M
- 35.73%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SVIX
- 1D
- -6.75%
- 1M
- 10.30%
- YTD
- -11.60%
- 6M
- 1.32%
- 1Y
- 48.34%
- 3Y*
- -4.33%
- 5Y*
- —
- 10Y*
- —
BMNZ vs. SVIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BMNZ Defiance Daily Target 2X Short BMNR ETF | 1.13% | -0.49% |
SVIX Volatility Shares -1x Short VIX Futures ETF | -11.60% | 28.40% |
Correlation
The correlation between BMNZ and SVIX is -0.41, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 14, 2025 | -0.41 |
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Return for Risk
BMNZ vs. SVIX — Risk / Return Rank
BMNZ
SVIX
BMNZ vs. SVIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short BMNR ETF (BMNZ) and Volatility Shares -1x Short VIX Futures ETF (SVIX). 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 | SVIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.88 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.01 | 0.14 | -0.13 |
Drawdowns
BMNZ vs. SVIX - Drawdown Comparison
The maximum BMNZ drawdown since its inception was -70.80%, smaller than the maximum SVIX drawdown of -79.30%. Use the drawdown chart below to compare losses from any high point for BMNZ and SVIX.
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Drawdown Indicators
| BMNZ | SVIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.80% | -79.30% | +8.50% |
Max Drawdown (1Y)Largest decline over 1 year | — | -42.69% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -79.30% | — |
Current DrawdownCurrent decline from peak | -43.38% | -57.78% | +14.40% |
Average DrawdownAverage peak-to-trough decline | -51.56% | -31.64% | -19.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 14.78% | — |
Volatility
BMNZ vs. SVIX - Volatility Comparison
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Volatility by Period
| BMNZ | SVIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 10.97% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 41.74% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 190.13% | 55.23% | +134.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 190.13% | 66.31% | +123.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 190.13% | 66.31% | +123.82% |
BMNZ vs. SVIX - Expense Ratio Comparison
BMNZ has a 1.31% expense ratio, which is lower than SVIX's 1.47% expense ratio.
Dividends
BMNZ vs. SVIX - Dividend Comparison
Neither BMNZ nor SVIX has paid dividends to shareholders.
Frequently Asked Questions
BMNZ and SVIX have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
BMNZ is cheaper with a 1.31% expense ratio, compared with 1.47% for SVIX.
BMNZ and SVIX have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Defiance and Volatility Shares. Their fees differ too: 1.31% for BMNZ and 1.47% for SVIX.
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