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BNKD vs. FAZ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

BNKD vs. FAZ - 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 Direxion Daily Financial Bear 3X Shares (FAZ). 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 -19.99% return, which is significantly lower than FAZ's 22.66% return.


BNKD

1D
3.59%
1M
-8.82%
YTD
-19.99%
6M
-30.69%
1Y
-65.56%
3Y*
5Y*
10Y*

FAZ

1D
3.45%
1M
5.24%
YTD
22.66%
6M
14.22%
1Y
0.55%
3Y*
-36.72%
5Y*
-26.05%
10Y*
-42.81%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BNKD vs. FAZ - Yearly Performance Comparison


Correlation

The correlation between BNKD and FAZ is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.85

Correlation (All Time)
Calculated using the full available price history since Feb 21, 2025

0.87

The correlation between BNKD and FAZ has been stable across timeframes, ranging from 0.85 to 0.87 - a consistent structural relationship.

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Return for Risk

BNKD vs. FAZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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: 22
Martin Ratio Rank

FAZ
FAZ Risk / Return Rank: 99
Overall Rank
FAZ Sharpe Ratio Rank: 99
Sharpe Ratio Rank
FAZ Sortino Ratio Rank: 1010
Sortino Ratio Rank
FAZ Omega Ratio Rank: 1010
Omega Ratio Rank
FAZ Calmar Ratio Rank: 99
Calmar Ratio Rank
FAZ Martin Ratio Rank: 99
Martin Ratio Rank
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. FAZ - 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 Direxion Daily Financial Bear 3X Shares (FAZ). 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.


BNKDFAZDifference
Sharpe ratioReturn per unit of total volatility

-1.16

Sortino ratioReturn per unit of downside risk

-2.53

Omega ratioGain probability vs. loss probability

0.77

1.04

-0.27

Calmar ratioReturn relative to maximum drawdown

-0.97

0.02

-0.99

Martin ratioReturn relative to average drawdown

-1.33

0.03

-1.36

BNKD vs. FAZ - Sharpe Ratio Comparison

The current BNKD Sharpe Ratio is -1.15, which is lower than the FAZ Sharpe Ratio of 0.01. The chart below compares the historical Sharpe Ratios of BNKD and FAZ, 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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Sharpe Ratios by Period


BNKDFAZDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-1.15

0.01

-1.16

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.47

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.69

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.82

-0.72

-0.10

Drawdowns

BNKD vs. FAZ - Drawdown Comparison

The maximum BNKD drawdown since its inception was -84.82%, smaller than the maximum FAZ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for BNKD and FAZ.


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Drawdown Indicators


BNKDFAZDifference

Max Drawdown

Largest peak-to-trough decline

-84.82%

-100.00%

+15.18%

Max Drawdown (1Y)

Largest decline over 1 year

-67.85%

-30.20%

-37.65%

Max Drawdown (3Y)

Largest decline over 3 years

-83.61%

Max Drawdown (5Y)

Largest decline over 5 years

-87.53%

Max Drawdown (10Y)

Largest decline over 10 years

-99.78%

Current Drawdown

Current decline from peak

-84.28%

-100.00%

+15.72%

Average Drawdown

Average peak-to-trough decline

-64.01%

-99.14%

+35.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

49.30%

16.58%

+32.72%

Volatility

BNKD vs. FAZ - Volatility Comparison

MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs (BNKD) has a higher volatility of 14.65% compared to Direxion Daily Financial Bear 3X Shares (FAZ) at 9.30%. This indicates that BNKD's price experiences larger fluctuations and is considered to be riskier than FAZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


BNKDFAZDifference

Volatility (1M)

Calculated over the trailing 1-month period

14.65%

9.30%

+5.35%

Volatility (6M)

Calculated over the trailing 6-month period

45.42%

32.18%

+13.24%

Volatility (1Y)

Calculated over the trailing 1-year period

57.40%

43.09%

+14.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

74.17%

55.83%

+18.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

74.17%

62.07%

+12.10%

BNKD vs. FAZ - Expense Ratio Comparison

BNKD has a 0.95% expense ratio, which is lower than FAZ's 1.07% expense ratio.


Dividends

BNKD vs. FAZ - Dividend Comparison

BNKD has not paid dividends to shareholders, while FAZ's dividend yield for the trailing twelve months is around 2.77%.


PositionTTM20252024202320222021202020192018
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%
FAZ
Direxion Daily Financial Bear 3X Shares
2.77%5.07%7.34%4.88%0.00%0.00%0.62%1.63%0.56%

Frequently Asked Questions


BNKD and FAZ have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BNKD has higher volatility (14.65%) compared to FAZ (9.30%). In terms of maximum drawdown, BNKD dropped -84.82% vs FAZ's -100.00%.

On 1-year performance, FAZ leads with 0.55% vs -65.56% for BNKD. On fees, BNKD is cheaper at 0.95% per year. On volatility, FAZ has been the lower-risk option at 9.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, FAZ has performed better with a 0.55% return vs -65.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BNKD is cheaper with a 0.95% expense ratio, compared with 1.07% for FAZ.

FAZ has the higher dividend yield at 2.77%, compared with 0.00% for BNKD.

BNKD is categorized as Inverse Equities, while FAZ is Leveraged Equities. BNKD tracks Solactive MicroSectors U.S. Big Banks Index (-300%), while FAZ tracks Russell 1000 Financial Services Index (-300%). They also come from different issuers: REX and Direxion. Their fees differ too: 0.95% for BNKD and 1.07% for FAZ.

FAZ currently has the higher Sharpe Ratio (0.01 vs -1.15), 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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