BNKD vs. FNGD

Last updated Jun 4, 2026

BNKD (MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs) and FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) are both exchange-traded funds - BNKD is a Inverse Equities fund tracking the Solactive MicroSectors U.S. Big Banks Index (-300%), while FNGD is a Leveraged Equities fund tracking the NYSE FANG+ Index (-300%). Both are passively managed. Over the past year, BNKD returned -65.56% vs -60.64% for FNGD. At a 0.49 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

BNKD vs. FNGD - 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 MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNKD achieves a -19.99% return, which is significantly higher than FNGD's -41.82% return.

BNKD

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

FNGD

• 1D: 3.34%
• 1M: -28.48%
• YTD: -41.82%
• 6M: -33.35%
• 1Y: -60.64%
• 3Y*: -69.29%
• 5Y*: -65.57%
• 10Y*: —

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

BNKD vs. FNGD - Yearly Performance Comparison

	2026 (YTD)	2025
BNKD MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs	-19.99%	-62.08%
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN	-41.82%	-54.09%

Correlation

The correlation between BNKD and FNGD is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	0.49

The correlation between BNKD and FNGD shifts across timeframes, from 0.36 (1 year) to 0.49 (all time), reflecting how their relationship changes across market environments.

BNKD vs. FNGD - Sectors Allocation Comparison

Sectors	BNKD	FNGD
Financial Services	100.0%	10.0%
Basic Materials	-	-
Communication Services	-	28.8%
Consumer Cyclical	-	11.3%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	59.9%
Utilities	-	-

Return for Risk

BNKD vs. FNGD — 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: 2

FNGD

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

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. FNGD - 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 MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD). 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	FNGD	Difference
Sharpe ratio Return per unit of total volatility	-1.15	-1.04	-0.11
Sortino ratio Return per unit of downside risk	-2.18	-1.75	-0.43
Omega ratio Gain probability vs. loss probability	0.77	0.81	-0.04
Calmar ratio Return relative to maximum drawdown	-0.97	-0.92	-0.05
Martin ratio Return relative to average drawdown	-1.33	-1.84	+0.51
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. FNGD - Sharpe Ratio Comparison

The current BNKD Sharpe Ratio is -1.15, which is comparable to the FNGD Sharpe Ratio of -1.04. The chart below compares the historical Sharpe Ratios of BNKD and FNGD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BNKD	FNGD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.15	-1.04	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.82	-0.78	-0.04

Drawdowns

BNKD vs. FNGD - Drawdown Comparison

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

Drawdown Indicators

	BNKD	FNGD	Difference
Max Drawdown Largest peak-to-trough decline	-84.82%	-100.00%	+15.18%
Max Drawdown (1Y) Largest decline over 1 year	-67.85%	-65.92%	-1.93%
Max Drawdown (3Y) Largest decline over 3 years	—	-97.37%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-99.67%	—
Current Drawdown Current decline from peak	-84.28%	-100.00%	+15.72%
Average Drawdown Average peak-to-trough decline	-64.01%	-87.25%	+23.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	49.30%	32.99%	+16.31%

Volatility

BNKD vs. FNGD - Volatility Comparison

The current volatility for MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs (BNKD) is 14.65%, while MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has a volatility of 17.47%. This indicates that BNKD experiences smaller price fluctuations and is considered to be less risky than FNGD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNKD	FNGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.65%	17.47%	-2.82%
Volatility (6M) Calculated over the trailing 6-month period	45.42%	45.91%	-0.49%
Volatility (1Y) Calculated over the trailing 1-year period	57.40%	58.70%	-1.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.17%	88.78%	-14.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.17%	91.00%	-16.83%

BNKD vs. FNGD - Expense Ratio Comparison

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

Dividends

BNKD vs. FNGD - Dividend Comparison

Neither BNKD nor FNGD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BNKD and FNGD in my portfolio?

BNKD and FNGD have a correlation of 0.36, 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 FNGD?

FNGD has higher volatility (17.47%) compared to BNKD (14.65%). In terms of maximum drawdown, BNKD dropped -84.82% vs FNGD's -100.00%.

Which ETF is better, BNKD or FNGD?

On 1-year performance, FNGD leads with -60.64% vs -65.56% for BNKD. Both ETFs have the same 0.95% expense ratio. On volatility, BNKD has been the lower-risk option at 14.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNKD or FNGD?

Over the 1-year period, FNGD has performed better with a -60.64% return vs -65.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNKD or FNGD?

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

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

BNKD and FNGD have nearly identical dividend yields, around 0.00%.

What is the main difference between BNKD and FNGD?

BNKD is categorized as Inverse Equities, while FNGD is Leveraged Equities. BNKD tracks Solactive MicroSectors U.S. Big Banks Index (-300%), while FNGD tracks NYSE FANG+ Index (-300%). They also come from different issuers: REX and BMO.

Which has better risk-adjusted returns?

FNGD currently has the higher Sharpe Ratio (-1.04 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.