BNKD vs. CARD

Last updated Apr 1, 2026

Compare and contrast key facts about MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs (BNKD) and Max Auto Industry -3X Inverse Leveraged ETN (CARD).

BNKD and CARD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BNKD is a passively managed fund by REX that tracks the performance of the Solactive MicroSectors U.S. Big Banks Index (-300%). It was launched on Apr 2, 2019. CARD is a passively managed fund by Max that tracks the performance of the Prime Auto Industry Index - Benchmark TR Net (--300%). It was launched on Jun 27, 2023. Both BNKD and CARD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

BNKD vs. CARD - 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 Max Auto Industry -3X Inverse Leveraged ETN (CARD). The values are adjusted to include any dividend payments, if applicable.

BNKD vs. CARD - Yearly Performance Comparison

	2026 (YTD)	2025
BNKD MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs	7.72%	-62.08%
CARD Max Auto Industry -3X Inverse Leveraged ETN	27.01%	-55.41%

Returns By Period

In the year-to-date period, BNKD achieves a 7.72% return, which is significantly lower than CARD's 27.01% return.

BNKD

• 1D: -10.54%
• 1M: 1.51%
• YTD: 7.72%
• 6M: -19.30%
• 1Y: -68.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CARD

• 1D: -10.04%
• 1M: 20.30%
• YTD: 27.01%
• 6M: 23.34%
• 1Y: -54.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BNKD vs. CARD - Expense Ratio Comparison

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

BNKD

MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs

CARD

Max Auto Industry -3X Inverse Leveraged ETN

Return for Risk

BNKD vs. CARD — Risk / Return Rank

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

BNKD

BNKD Risk / Return Rank: 1
BNKD Sharpe Ratio Rank: 1
BNKD Sortino Ratio Rank: 0
BNKD Omega Ratio Rank: 1
BNKD Calmar Ratio Rank: 1
BNKD Martin Ratio Rank: 4

CARD

CARD Risk / Return Rank: 3
CARD Sharpe Ratio Rank: 2
CARD Sortino Ratio Rank: 3
CARD Omega Ratio Rank: 3
CARD Calmar Ratio Rank: 2
CARD Martin Ratio Rank: 5

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. 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 ratio Return per unit of total volatility	-0.91	-0.66	-0.25
Sortino ratio Return per unit of downside risk	-1.72	-0.70	-1.03
Omega ratio Gain probability vs. loss probability	0.80	0.91	-0.11
Calmar ratio Return relative to maximum drawdown	-0.83	-0.72	-0.11
Martin ratio Return relative to average drawdown	-1.02	-0.85	-0.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BNKD vs. CARD - Sharpe Ratio Comparison

The current BNKD Sharpe Ratio is -0.91, which is lower than the CARD Sharpe Ratio of -0.66. The chart below compares the historical Sharpe Ratios of BNKD and CARD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BNKD	CARD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.91	-0.66	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	-0.72	-0.62	-0.10

Correlation

The correlation between BNKD and CARD is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BNKD vs. CARD - Dividend Comparison

Neither BNKD nor CARD has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

BNKD vs. CARD - Drawdown Comparison

The maximum BNKD drawdown since its inception was -84.27%, 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.

Drawdown Indicators

	BNKD	CARD	Difference
Max Drawdown Largest peak-to-trough decline	-84.27%	-93.51%	+9.24%
Max Drawdown (1Y) Largest decline over 1 year	-84.27%	-77.41%	-6.86%
Current Drawdown Current decline from peak	-78.83%	-90.46%	+11.63%
Average Drawdown Average peak-to-trough decline	-61.01%	-66.62%	+5.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	68.67%	65.55%	+3.12%

Volatility

BNKD vs. CARD - Volatility Comparison

The current volatility for MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs (BNKD) is 19.01%, while Max Auto Industry -3X Inverse Leveraged ETN (CARD) has a volatility of 25.18%. 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.

Volatility by Period

	BNKD	CARD	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.01%	25.18%	-6.17%
Volatility (6M) Calculated over the trailing 6-month period	45.69%	52.70%	-7.01%
Volatility (1Y) Calculated over the trailing 1-year period	75.20%	82.47%	-7.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	77.02%	80.97%	-3.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	77.02%	80.97%	-3.95%