BNKU vs. ARMG

Last updated Jun 5, 2026

BNKU (MicroSectors U.S. Big Banks Index 3X Leveraged ETNs) and ARMG (Leverage Shares 2X Long ARM Daily ETF) are both Leveraged Equities funds. BNKU is passively managed, while ARMG is actively managed. Over the past year, BNKU returned 107.99% vs 443.95% for ARMG. At a 0.39 correlation, their price movements are largely independent. BNKU charges 0.95%/yr vs 0.75%/yr for ARMG.

Performance

BNKU vs. ARMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) and Leverage Shares 2X Long ARM Daily ETF (ARMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNKU achieves a 8.32% return, which is significantly lower than ARMG's 841.05% return.

BNKU

• 1D: 10.09%
• 1M: 13.36%
• YTD: 8.32%
• 6M: 19.85%
• 1Y: 107.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ARMG

• 1D: -9.19%
• 1M: 211.14%
• YTD: 841.05%
• 6M: 460.44%
• 1Y: 443.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BNKU vs. ARMG - Yearly Performance Comparison

	2026 (YTD)	2025
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	8.32%	46.04%
ARMG Leverage Shares 2X Long ARM Daily ETF	841.05%	-64.54%

Correlation

The correlation between BNKU and ARMG is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	0.39

Return for Risk

BNKU vs. ARMG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BNKU

BNKU Risk / Return Rank: 50
BNKU Sharpe Ratio Rank: 56
BNKU Sortino Ratio Rank: 46
BNKU Omega Ratio Rank: 48
BNKU Calmar Ratio Rank: 54
BNKU Martin Ratio Rank: 44

ARMG

ARMG Risk / Return Rank: 81
ARMG Sharpe Ratio Rank: 93
ARMG Sortino Ratio Rank: 78
ARMG Omega Ratio Rank: 74
ARMG Calmar Ratio Rank: 93
ARMG Martin Ratio Rank: 65

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.

BNKU vs. ARMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) and Leverage Shares 2X Long ARM Daily ETF (ARMG). 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.

	BNKU	ARMG	Difference
Sharpe ratio: Return per unit of total volatility	1.89	3.43	-1.54
Sortino ratio: Return per unit of downside risk	2.26	3.45	-1.19
Omega ratio: Gain probability vs. loss probability	1.30	1.43	-0.14
Calmar ratio: Return relative to maximum drawdown	2.65	6.57	-3.92
Martin ratio: Return relative to average drawdown	7.00	11.59	-4.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BNKU vs. ARMG - Sharpe Ratio Comparison

The current BNKU Sharpe Ratio is 1.89, which is lower than the ARMG Sharpe Ratio of 3.43. The chart below compares the historical Sharpe Ratios of BNKU and ARMG, 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

	BNKU	ARMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	3.43	-1.54
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	1.10	-0.52

Drawdowns

BNKU vs. ARMG - Drawdown Comparison

The maximum BNKU drawdown since its inception was -58.03%, smaller than the maximum ARMG drawdown of -80.28%. Use the drawdown chart below to compare losses from any high point for BNKU and ARMG.

Drawdown Indicators

	BNKU	ARMG	Difference
Max Drawdown Largest peak-to-trough decline	-58.03%	-80.28%	+22.25%
Max Drawdown (1Y) Largest decline over 1 year	-40.97%	-68.13%	+27.16%
Current Drawdown Current decline from peak	-8.18%	-9.19%	+1.01%
Average Drawdown Average peak-to-trough decline	-16.53%	-52.91%	+36.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.49%	38.55%	-23.06%

Volatility

BNKU vs. ARMG - Volatility Comparison

The current volatility for MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) is 16.53%, while Leverage Shares 2X Long ARM Daily ETF (ARMG) has a volatility of 66.47%. This indicates that BNKU experiences smaller price fluctuations and is considered to be less risky than ARMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNKU	ARMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.53%	66.47%	-49.94%
Volatility (6M) Calculated over the trailing 6-month period	46.00%	104.49%	-58.49%
Volatility (1Y) Calculated over the trailing 1-year period	57.51%	130.67%	-73.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.26%	138.36%	-65.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.26%	138.36%	-65.10%

BNKU vs. ARMG - Expense Ratio Comparison

BNKU has a 0.95% expense ratio, which is higher than ARMG's 0.75% expense ratio.

Dividends

BNKU vs. ARMG - Dividend Comparison

BNKU has not paid dividends to shareholders, while ARMG's dividend yield for the trailing twelve months is around 0.52%.

Position	TTM	2025
ARMG Leverage Shares 2X Long ARM Daily ETF	0.52%	4.86%
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	0.00%	0.00%

Frequently Asked Questions

Can I hold both BNKU and ARMG in my portfolio?

BNKU and ARMG have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BNKU or ARMG?

ARMG has higher volatility (66.47%) compared to BNKU (16.53%). In terms of maximum drawdown, BNKU dropped -58.03% vs ARMG's -80.28%.

Which ETF is better, BNKU or ARMG?

On 1-year performance, ARMG leads with 443.95% vs 107.99% for BNKU. On fees, ARMG is cheaper at 0.75% per year. On volatility, BNKU has been the lower-risk option at 16.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNKU or ARMG?

Over the 1-year period, ARMG has performed better with a 443.95% return vs 107.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNKU or ARMG?

ARMG is cheaper with a 0.75% expense ratio, compared with 0.95% for BNKU.

Which ETF pays a higher dividend yield, BNKU or ARMG?

ARMG has the higher dividend yield at 0.52%, compared with 0.00% for BNKU.

What is the main difference between BNKU and ARMG?

They also come from different issuers: Bank of Montreal and Leverage Shares. Their fees differ too: 0.95% for BNKU and 0.75% for ARMG.

Which has better risk-adjusted returns?

ARMG currently has the higher Sharpe Ratio (3.43 vs 1.89), 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.