BNKD vs. DOG

Last updated Aug 5, 2026

BNKD (MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs) and DOG (ProShares Short Dow30) are both Inverse Equities funds - BNKD tracks the Solactive MicroSectors U.S. Big Banks Index (-300%) while DOG tracks the DJ Industrial Average (-100%). Both are passively managed. Over the past year, BNKD returned -69.49% vs -15.27% for DOG. Their 0.73 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.95% expense ratio.

Performance

BNKD vs. DOG - 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 ProShares Short Dow30 (DOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNKD achieves a -47.45% return, which is significantly lower than DOG's -9.55% return.

BNKD

• 1D: -4.14%
• 1M: -14.63%
• 6M: -40.41%
• YTD: -47.45%
• 1Y: -69.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -65.56%

DOG

• 1D: -1.78%
• 1M: -2.01%
• 6M: -7.74%
• YTD: -9.55%
• 1Y: -15.27%
• 3Y*: -9.29%
• 5Y*: -6.15%
• 10Y*: -11.28%
• ALL TIME*: -10.47%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BNKD MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs	$13.59K	$10.52K	$9.72K
DOG ProShares Short Dow30	$44.96M	$38.77M	$42.13M

BNKD vs. DOG - Yearly Performance Comparison

	2026 (YTD)	2025
BNKD MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs	-47.45%	-59.47%
DOG ProShares Short Dow30	-9.55%	-4.70%

Correlation

The correlation between BNKD and DOG is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.73

The correlation between BNKD and DOG has been stable across timeframes, ranging from 0.71 to 0.73 - a consistent structural relationship.

BNKD vs. DOG - Sectors Allocation Comparison

Sectors	BNKD	DOG
Financial Services	100.0%	82.8%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BNKD vs. DOG — Risk / Return Rank

Compare historical risk-adjusted metric ranks 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

DOG

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BNKD vs. DOG - 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 ProShares Short Dow30 (DOG). 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	DOG	Difference
Sharpe ratio: Return per unit of total volatility	-1.17	-1.22	+0.05
Sortino ratio: Return per unit of downside risk	-2.31	-1.67	-0.63
Omega ratio: Gain probability vs. loss probability	0.76	0.81	-0.06
Calmar ratio: Return relative to maximum drawdown	-0.99	-0.97	-0.02
Martin ratio: Return relative to average drawdown	-1.59	-1.90	+0.31

BNKD vs. DOG - Sharpe Ratio Comparison

The current BNKD Sharpe Ratio is -1.17, which is comparable to the DOG Sharpe Ratio of -1.22. The chart below compares the historical Sharpe Ratios of BNKD and DOG, 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. DOG - Drawdown Comparison

The maximum BNKD drawdown since its inception was -89.67%, roughly equal to the maximum DOG drawdown of -93.02%. Use the drawdown chart below to compare losses from any high point for BNKD and DOG.

Drawdown Indicators

	BNKD	DOG	Difference
Max Drawdown Largest peak-to-trough decline	-89.67%	-93.02%	+3.35%
Max Drawdown (1Y) Largest decline over 1 year	-70.39%	-15.77%	-54.62%
Max Drawdown (3Y) Largest decline over 3 years	—	-32.03%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-37.01%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-70.57%	—
Current Drawdown Current decline from peak	-89.67%	-93.02%	+3.35%
Average Drawdown Average peak-to-trough decline	-66.59%	-66.60%	+0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.77%	8.04%	+35.73%

Volatility

BNKD vs. DOG - Volatility Comparison

MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs (BNKD) has a higher volatility of 16.93% compared to ProShares Short Dow30 (DOG) at 4.20%. This indicates that BNKD's price experiences larger fluctuations and is considered to be riskier than DOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNKD	DOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.93%	4.20%	+12.73%
Volatility (6M) Calculated over the trailing 6-month period	47.31%	10.11%	+37.20%
Volatility (1Y) Calculated over the trailing 1-year period	59.67%	12.66%	+47.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.91%	14.86%	+58.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.91%	17.51%	+55.40%

BNKD vs. DOG - Expense Ratio Comparison

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

Dividends

BNKD vs. DOG - Dividend Comparison

BNKD has not paid dividends to shareholders, while DOG's dividend yield for the trailing twelve months is around 3.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BNKD MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DOG ProShares Short Dow30	3.49%	3.65%	5.72%	4.54%	0.41%	0.00%	0.14%	1.54%	0.86%	0.04%

Frequently Asked Questions

Can I hold both BNKD and DOG in my portfolio?

BNKD and DOG have a correlation of 0.71, 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 DOG?

BNKD has higher volatility (16.93%) compared to DOG (4.20%). In terms of maximum drawdown, BNKD dropped -89.67% vs DOG's -93.02%.

Which ETF is better, BNKD or DOG?

On 1-year performance, DOG leads with -15.27% vs -69.49% for BNKD. Both ETFs have the same 0.95% expense ratio. On volatility, DOG has been the lower-risk option at 4.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNKD or DOG?

Over the 1-year period, DOG has performed better with a -15.27% return vs -69.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNKD or DOG?

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

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

DOG has the higher dividend yield at 3.49%, compared with 0.00% for BNKD.

What is the main difference between BNKD and DOG?

BNKD tracks Solactive MicroSectors U.S. Big Banks Index (-300%), while DOG tracks DJ Industrial Average (-100%). They also come from different issuers: REX and ProShares.

Which has better risk-adjusted returns?

BNKD currently has the higher Sharpe Ratio (-1.17 vs -1.22), 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.