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BNKD vs. EUFN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BNKD vs. EUFN

Last updated Aug 2, 2026
Documentation

BNKD (MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs) and EUFN (iShares MSCI Europe Financials ETF) are both exchange-traded funds - BNKD is a Inverse Equities fund tracking the Solactive MicroSectors U.S. Big Banks Index (-300%), while EUFN is a Financials Equities fund tracking the MSCI Europe Financials Index (Net). Both are passively managed. Over the past year, BNKD returned -68.89% vs 37.30% for EUFN. Their -0.55 correlation means they have often moved in opposite directions in the past. BNKD charges 0.95%/yr vs 0.49%/yr for EUFN.

Performance

BNKD vs. EUFN - 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 iShares MSCI Europe Financials ETF (EUFN). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BNKD achieves a -44.22% return, which is significantly lower than EUFN's 15.76% return.

BNKD

1D
-1.37%
1M
-9.38%
6M
-40.18%
YTD
-44.22%
1Y
-68.89%
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
-64.39%

EUFN

1D
-0.05%
1M
4.57%
6M
12.34%
YTD
15.76%
1Y
37.30%
3Y*
34.07%
5Y*
21.90%
10Y*
14.87%
ALL TIME*
7.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

BNKD

MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs
$12.77K$10.66K$9.79K

EUFN

iShares MSCI Europe Financials ETF
$57.65M$60.11M$50.38M

BNKD vs. EUFN - Yearly Performance Comparison

2026 (YTD)2025
BNKD
MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs		-44.22%-59.47%
EUFN
iShares MSCI Europe Financials ETF		15.76%45.39%

Correlation

The correlation between BNKD and EUFN is -0.60, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

-0.60

Correlation (All Time)
Calculated using the full available price history since Feb 20, 2025

-0.55

The correlation between BNKD and EUFN has been stable across timeframes, ranging from -0.60 to -0.55 - a consistent structural relationship.

BNKD vs. EUFN - Sectors Allocation Comparison

Sectors
BNKD
EUFN

Financial Services

100.0%
98.1%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

0.2%

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

0.4%

Real Estate

-

-

Technology

-

0.9%

Utilities

-

-

Financial Services

BNKD
100.0%
EUFN
98.1%

Basic Materials

BNKD

-

EUFN

-

Communication Services

BNKD

-

EUFN

-

Consumer Cyclical

BNKD

-

EUFN
0.2%

Consumer Defensive

BNKD

-

EUFN

-

Energy

BNKD

-

EUFN

-

Healthcare

BNKD

-

EUFN

-

Industrials

BNKD

-

EUFN
0.4%

Real Estate

BNKD

-

EUFN

-

Technology

BNKD

-

EUFN
0.9%

Utilities

BNKD

-

EUFN

-

Compare stocks, funds, or ETFs

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

iShares MSCI Europe Financials ETF

Often compared with BNKD:
BNKD vs. FAZBNKD vs. PIC.AXBNKD vs. FNGDBNKD vs. CARDBNKD vs. CEPIBNKD vs. BMNUBNKD vs. VLLU
Often compared with EUFN:
EUFN vs. XLFEUFN vs. FDDEUFN vs. GSIBEUFN vs. SPYEUFN vs. EURLEUFN vs. EIRLEUFN vs. IEUR

Return for Risk

BNKD vs. EUFN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
BNKD
BNKD Risk / Return Rank: 11
Overall Rank
BNKD Sharpe Ratio Rank: 11
Sharpe Ratio Rank
BNKD Sortino Ratio Rank: 00
Sortino Ratio Rank
BNKD Omega Ratio Rank: 11
Omega Ratio Rank
BNKD Calmar Ratio Rank: 11
Calmar Ratio Rank
BNKD Martin Ratio Rank: 00
Martin Ratio Rank
EUFN
EUFN Risk / Return Rank: 7474
Overall Rank
EUFN Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
EUFN Sortino Ratio Rank: 7878
Sortino Ratio Rank
EUFN Omega Ratio Rank: 7272
Omega Ratio Rank
EUFN Calmar Ratio Rank: 7171
Calmar Ratio Rank
EUFN Martin Ratio Rank: 7070
Martin Ratio Rank
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. EUFN - 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 iShares MSCI Europe Financials ETF (EUFN). 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.

BNKDEUFNDifference
Sharpe ratioReturn per unit of total volatility
-1.11
1.76

-2.88

Sortino ratioReturn per unit of downside risk
-2.10
2.50

-4.60

Omega ratioGain probability vs. loss probability

0.78

1.30

-0.52

Calmar ratioReturn relative to maximum drawdown

-0.95

2.43

-3.38

Martin ratioReturn relative to average drawdown

-1.52

8.55

-10.07

BNKD vs. EUFN - Sharpe Ratio Comparison

The current BNKD Sharpe Ratio is -1.11, which is lower than the EUFN Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of BNKD and EUFN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

BNKD vs. EUFN - Drawdown Comparison

The maximum BNKD drawdown since its inception was -89.57%, which is greater than EUFN's maximum drawdown of -53.25%. Use the drawdown chart below to compare losses from any high point for BNKD and EUFN.

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Drawdown Indicators

BNKDEUFNDifference

Max Drawdown

Largest peak-to-trough decline

-89.57%

-53.25%

-36.32%

Max Drawdown (1Y)

Largest decline over 1 year

-70.40%

-14.77%

-55.63%

Max Drawdown (3Y)

Largest decline over 3 years

—

-15.95%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-35.15%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-53.25%

—

Current Drawdown

Current decline from peak

-89.04%

-0.05%

-88.99%

Average Drawdown

Average peak-to-trough decline

-66.47%

-14.42%

-52.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

43.82%

4.20%

+39.62%

Volatility

BNKD vs. EUFN - Volatility Comparison

MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs (BNKD) has a higher volatility of 17.97% compared to iShares MSCI Europe Financials ETF (EUFN) at 6.32%. This indicates that BNKD's price experiences larger fluctuations and is considered to be riskier than EUFN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BNKDEUFNDifference

Volatility (1M)

Calculated over the trailing 1-month period

17.97%

6.32%

+11.65%

Volatility (6M)

Calculated over the trailing 6-month period

47.29%

17.74%

+29.55%

Volatility (1Y)

Calculated over the trailing 1-year period

60.18%

20.39%

+39.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

73.03%

21.81%

+51.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

73.03%

23.71%

+49.32%

BNKD vs. EUFN - Expense Ratio Comparison

BNKD has a 0.95% expense ratio, which is higher than EUFN's 0.49% expense ratio.

Dividends

BNKD vs. EUFN - Dividend Comparison

BNKD has not paid dividends to shareholders, while EUFN's dividend yield for the trailing twelve months is around 3.96%.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%0.00%
EUFN
iShares MSCI Europe Financials ETF		3.96%3.57%5.36%5.00%4.24%4.15%1.38%4.55%6.48%3.04%4.03%3.65%

Frequently Asked Questions

BNKD and EUFN have a correlation of -0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BNKD has higher volatility (17.97%) compared to EUFN (6.32%). In terms of maximum drawdown, BNKD dropped -89.57% vs EUFN's -53.25%.

On 1-year performance, EUFN leads with 37.30% vs -68.89% for BNKD. On fees, EUFN is cheaper at 0.49% per year. On volatility, EUFN has been the lower-risk option at 6.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, EUFN has performed better with a 37.30% return vs -68.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EUFN is cheaper with a 0.49% expense ratio, compared with 0.95% for BNKD.

EUFN has the higher dividend yield at 3.96%, compared with 0.00% for BNKD.

BNKD is categorized as Inverse Equities, while EUFN is Financials Equities. BNKD tracks Solactive MicroSectors U.S. Big Banks Index (-300%), while EUFN tracks MSCI Europe Financials Index (Net). They also come from different issuers: REX and iShares. Their fees differ too: 0.95% for BNKD and 0.49% for EUFN.

EUFN currently has the higher Sharpe Ratio (1.76 vs -1.11), 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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