BNKD vs. SEF
Compare and contrast key facts about MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs (BNKD) and ProShares Short Financials (SEF).
BNKD and SEF 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. SEF is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Financials Index (-100%). It was launched on Jun 12, 2008. Both BNKD and SEF 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. SEF - Performance Comparison
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BNKD vs. SEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BNKD MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs | 7.72% | -62.08% |
SEF ProShares Short Financials | 11.27% | -4.78% |
Returns By Period
In the year-to-date period, BNKD achieves a 7.72% return, which is significantly lower than SEF's 11.27% return.
BNKD
- 1D
- -10.54%
- 1M
- 1.51%
- YTD
- 7.72%
- 6M
- -19.30%
- 1Y
- -68.53%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SEF
- 1D
- -2.13%
- 1M
- 3.96%
- YTD
- 11.27%
- 6M
- 10.38%
- 1Y
- 2.76%
- 3Y*
- -10.01%
- 5Y*
- -6.70%
- 10Y*
- -11.67%
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BNKD vs. SEF - Expense Ratio Comparison
Both BNKD and SEF have an expense ratio of 0.95%.
Return for Risk
BNKD vs. SEF — Risk / Return Rank
BNKD
SEF
BNKD vs. SEF - 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 Financials (SEF). 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 | SEF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.91 | 0.14 | -1.06 |
Sortino ratioReturn per unit of downside risk | -1.72 | 0.36 | -2.08 |
Omega ratioGain probability vs. loss probability | 0.80 | 1.05 | -0.25 |
Calmar ratioReturn relative to maximum drawdown | -0.83 | 0.08 | -0.90 |
Martin ratioReturn relative to average drawdown | -1.02 | 0.11 | -1.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BNKD | SEF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.91 | 0.14 | -1.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.37 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.57 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.72 | -0.49 | -0.24 |
Correlation
The correlation between BNKD and SEF is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
BNKD vs. SEF - Dividend Comparison
BNKD has not paid dividends to shareholders, while SEF's dividend yield for the trailing twelve months is around 3.27%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% |
SEF ProShares Short Financials | 3.27% | 4.33% | 5.72% | 4.43% | 0.39% | 0.00% | 0.12% | 1.25% | 0.41% |
Drawdowns
BNKD vs. SEF - Drawdown Comparison
The maximum BNKD drawdown since its inception was -84.27%, smaller than the maximum SEF drawdown of -96.51%. Use the drawdown chart below to compare losses from any high point for BNKD and SEF.
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Drawdown Indicators
| BNKD | SEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.27% | -96.51% | +12.24% |
Max Drawdown (1Y)Largest decline over 1 year | -84.27% | -20.21% | -64.06% |
Max Drawdown (5Y)Largest decline over 5 years | — | -41.62% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.66% | — |
Current DrawdownCurrent decline from peak | -78.83% | -96.00% | +17.17% |
Average DrawdownAverage peak-to-trough decline | -61.01% | -82.58% | +21.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 68.67% | 14.44% | +54.23% |
Volatility
BNKD vs. SEF - Volatility Comparison
MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs (BNKD) has a higher volatility of 19.01% compared to ProShares Short Financials (SEF) at 4.86%. This indicates that BNKD's price experiences larger fluctuations and is considered to be riskier than SEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNKD | SEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.01% | 4.86% | +14.15% |
Volatility (6M)Calculated over the trailing 6-month period | 45.69% | 11.37% | +34.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.20% | 19.28% | +55.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 77.02% | 17.99% | +59.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 77.02% | 20.55% | +56.47% |