BNKD vs. BNKU

Last updated Jun 26, 2026

BNKD (MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs) and BNKU (MicroSectors U.S. Big Banks Index 3X Leveraged ETNs) are both exchange-traded funds - BNKD is a Inverse Equities fund tracking the Solactive MicroSectors U.S. Big Banks Index (-300%), while BNKU is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Banks Index (-300%). Both are passively managed. Over the past year, BNKD returned -68.88% vs 101.11% for BNKU. At a correlation of -0.98, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

BNKD vs. BNKU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs (BNKD) and MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNKD achieves a -37.77% return, which is significantly lower than BNKU's 22.19% return.

BNKD

• 1D: -1.23%
• 1M: -23.52%
• YTD: -37.77%
• 6M: -33.35%
• 1Y: -68.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNKU

• 1D: 0.94%
• 1M: 25.27%
• YTD: 22.19%
• 6M: 13.05%
• 1Y: 101.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BNKD vs. BNKU - Yearly Performance Comparison

	2026 (YTD)	2025
BNKD MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs	-37.77%	-59.47%
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	22.19%	34.97%

Correlation

The correlation between BNKD and BNKU is -0.99, 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 (1Y) Calculated over the trailing 1-year period	-0.99
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	-0.98

The correlation between BNKD and BNKU has been stable across timeframes, ranging from -0.99 to -0.98 - a consistent structural relationship.

BNKD vs. BNKU - Sectors Allocation Comparison

Sectors	BNKD	BNKU
Financial Services	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BNKD vs. BNKU — Risk / Return Rank

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

BNKD

BNKD Risk / Return Rank: 0
BNKD Sharpe Ratio Rank: 1
BNKD Sortino Ratio Rank: 0
BNKD Omega Ratio Rank: 0
BNKD Calmar Ratio Rank: 0
BNKD Martin Ratio Rank: 1

BNKU

BNKU Risk / Return Rank: 53
BNKU Sharpe Ratio Rank: 61
BNKU Sortino Ratio Rank: 50
BNKU Omega Ratio Rank: 50
BNKU Calmar Ratio Rank: 58
BNKU Martin Ratio Rank: 45

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.

BNKD vs. BNKU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs (BNKD) and MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU). 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.

	BNKD	BNKU	Difference
Sharpe ratio: Return per unit of total volatility	-1.19	1.76	-2.95
Sortino ratio: Return per unit of downside risk	-2.34	2.17	-4.52
Omega ratio: Gain probability vs. loss probability	0.75	1.28	-0.53
Calmar ratio: Return relative to maximum drawdown	-1.01	2.48	-3.50
Martin ratio: Return relative to average drawdown	-1.65	6.53	-8.18

BNKD vs. BNKU - Sharpe Ratio Comparison

The current BNKD Sharpe Ratio is -1.19, which is lower than the BNKU Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of BNKD and BNKU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BNKD vs. BNKU - Drawdown Comparison

The maximum BNKD drawdown since its inception was -87.96%, which is greater than BNKU's maximum drawdown of -61.21%. Use the drawdown chart below to compare losses from any high point for BNKD and BNKU.

Drawdown Indicators

	BNKD	BNKU	Difference
Max Drawdown Largest peak-to-trough decline	-87.96%	-61.21%	-26.75%
Max Drawdown (1Y) Largest decline over 1 year	-68.06%	-40.97%	-27.09%
Current Drawdown Current decline from peak	-87.77%	-1.92%	-85.85%
Average Drawdown Average peak-to-trough decline	-64.83%	-17.66%	-47.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.72%	15.55%	+28.17%

Volatility

BNKD vs. BNKU - Volatility Comparison

MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs (BNKD) and MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) have volatilities of 17.41% and 16.75%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNKD	BNKU	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.41%	16.75%	+0.66%
Volatility (6M) Calculated over the trailing 6-month period	46.55%	45.99%	+0.56%
Volatility (1Y) Calculated over the trailing 1-year period	58.11%	57.66%	+0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.83%	72.67%	+1.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.83%	72.67%	+1.16%

BNKD vs. BNKU - Expense Ratio Comparison

Both BNKD and BNKU have an expense ratio of 0.95%.

Dividends

BNKD vs. BNKU - Dividend Comparison

Neither BNKD nor BNKU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BNKD and BNKU in my portfolio?

BNKD and BNKU have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BNKD or BNKU?

BNKD has higher volatility (17.41%) compared to BNKU (16.75%). In terms of maximum drawdown, BNKD dropped -87.96% vs BNKU's -61.21%.

Which ETF is better, BNKD or BNKU?

On 1-year performance, BNKU leads with 101.11% vs -68.88% for BNKD. Both ETFs have the same 0.95% expense ratio. On volatility, BNKU has been the lower-risk option at 16.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNKD or BNKU?

Over the 1-year period, BNKU has performed better with a 101.11% return vs -68.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNKD or BNKU?

BNKD and BNKU have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, BNKD or BNKU?

BNKD and BNKU have nearly identical dividend yields, around 0.00%.

What is the main difference between BNKD and BNKU?

BNKD is categorized as Inverse Equities, while BNKU is Leveraged Equities. Both ETFs track Solactive MicroSectors U.S. Big Banks Index (-300%). They also come from different issuers: REX and Bank of Montreal.

Which has better risk-adjusted returns?

BNKU currently has the higher Sharpe Ratio (1.76 vs -1.19), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.