BNKD vs. CARD
BNKD (MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs) and CARD (Max Auto Industry -3X Inverse Leveraged ETN) are both Inverse Equities funds - BNKD tracks the Solactive MicroSectors U.S. Big Banks Index (-300%) while CARD tracks the Prime Auto Industry Index - Benchmark TR Net (--300%). Both are passively managed. Over the past year, BNKD returned -67.73% vs -35.78% for CARD. A 0.60 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
BNKD vs. CARD - Performance Comparison
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Returns By Period
In the year-to-date period, BNKD achieves a -22.76% return, which is significantly lower than CARD's -2.60% return.
BNKD
- 1D
- -4.44%
- 1M
- -7.75%
- YTD
- -22.76%
- 6M
- -37.81%
- 1Y
- -67.73%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CARD
- 1D
- 1.10%
- 1M
- -13.67%
- YTD
- -2.60%
- 6M
- -2.07%
- 1Y
- -35.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BNKD vs. CARD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BNKD MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs | -22.76% | -62.08% |
CARD Max Auto Industry -3X Inverse Leveraged ETN | -2.60% | -55.41% |
Correlation
The correlation between BNKD and CARD is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025 | 0.60 |
The correlation between BNKD and CARD has been stable across timeframes, ranging from 0.51 to 0.60 - a consistent structural relationship.
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Return for Risk
BNKD vs. CARD — Risk / Return Rank
BNKD
CARD
BNKD vs. CARD - 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 Max Auto Industry -3X Inverse Leveraged ETN (CARD). 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.
| BNKD | CARD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.19 | -0.52 | -0.66 |
Sortino ratioReturn per unit of downside risk | -2.33 | -0.43 | -1.90 |
Omega ratioGain probability vs. loss probability | 0.76 | 0.95 | -0.20 |
Calmar ratioReturn relative to maximum drawdown | -1.00 | -0.72 | -0.27 |
Martin ratioReturn relative to average drawdown | -1.38 | -1.06 | -0.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BNKD | CARD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.19 | -0.52 | -0.66 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.83 | -0.65 | -0.18 |
Drawdowns
BNKD vs. CARD - Drawdown Comparison
The maximum BNKD drawdown since its inception was -84.82%, smaller than the maximum CARD drawdown of -93.51%. Use the drawdown chart below to compare losses from any high point for BNKD and CARD.
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Drawdown Indicators
| BNKD | CARD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.82% | -93.51% | +8.69% |
Max Drawdown (1Y)Largest decline over 1 year | -67.85% | -49.57% | -18.28% |
Current DrawdownCurrent decline from peak | -84.82% | -92.68% | +7.86% |
Average DrawdownAverage peak-to-trough decline | -63.95% | -68.13% | +4.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.12% | 33.93% | +15.19% |
Volatility
BNKD vs. CARD - Volatility Comparison
The current volatility for MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs (BNKD) is 15.02%, while Max Auto Industry -3X Inverse Leveraged ETN (CARD) has a volatility of 22.80%. This indicates that BNKD experiences smaller price fluctuations and is considered to be less risky than CARD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNKD | CARD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.02% | 22.80% | -7.78% |
Volatility (6M)Calculated over the trailing 6-month period | 45.28% | 50.05% | -4.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.26% | 68.70% | -11.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.21% | 80.53% | -6.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 74.21% | 80.53% | -6.32% |
BNKD vs. CARD - Expense Ratio Comparison
Both BNKD and CARD have an expense ratio of 0.95%.
Dividends
BNKD vs. CARD - Dividend Comparison
Neither BNKD nor CARD has paid dividends to shareholders.
Frequently Asked Questions
BNKD and CARD have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CARD has higher volatility (22.80%) compared to BNKD (15.02%). In terms of maximum drawdown, BNKD dropped -84.82% vs CARD's -93.51%.
On 1-year performance, CARD leads with -35.78% vs -67.73% for BNKD. Both ETFs have the same 0.95% expense ratio. On volatility, BNKD has been the lower-risk option at 15.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CARD has performed better with a -35.78% return vs -67.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BNKD and CARD have the same expense ratio: 0.95% per year.
BNKD and CARD have nearly identical dividend yields, around 0.00%.
BNKD tracks Solactive MicroSectors U.S. Big Banks Index (-300%), while CARD tracks Prime Auto Industry Index - Benchmark TR Net (--300%). They also come from different issuers: REX and Max.
CARD currently has the higher Sharpe Ratio (-0.52 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.
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