BNKU vs. BLSG

Last updated Jun 4, 2026

BNKU (MicroSectors U.S. Big Banks Index 3X Leveraged ETNs) and BLSG (Leverage Shares 2X Long BLSH Daily ETF) are both Leveraged Equities funds. BNKU is passively managed, while BLSG is actively managed. At a 0.34 correlation, their price movements are largely independent. BNKU charges 0.95%/yr vs 0.75%/yr for BLSG.

Performance

BNKU vs. BLSG - 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 BLSH Daily ETF (BLSG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNKU achieves a -1.60% return, which is significantly higher than BLSG's -58.79% return.

BNKU

• 1D: -3.18%
• 1M: 6.20%
• YTD: -1.60%
• 6M: 10.64%
• 1Y: 85.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BLSG

• 1D: -15.77%
• 1M: -55.27%
• YTD: -58.79%
• 6M: -73.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BNKU vs. BLSG - Yearly Performance Comparison

	2026 (YTD)	2025
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	-1.60%	24.92%
BLSG Leverage Shares 2X Long BLSH Daily ETF	-58.79%	-60.00%

Correlation

The correlation between BNKU and BLSG is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 28, 2025	0.34

Return for Risk

BNKU vs. BLSG — Risk / Return Rank

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

BNKU

BNKU Risk / Return Rank: 39
BNKU Sharpe Ratio Rank: 43
BNKU Sortino Ratio Rank: 37
BNKU Omega Ratio Rank: 39
BNKU Calmar Ratio Rank: 43
BNKU Martin Ratio Rank: 36

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. BLSG - 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 BLSH Daily ETF (BLSG). 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	BLSG	Difference
Sharpe ratio: Return per unit of total volatility	1.52	—	—
Sortino ratio: Return per unit of downside risk	1.96	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	2.10	—	—
Martin ratio: Return relative to average drawdown	5.55	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BNKU	BLSG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	-0.66	+1.11

Drawdowns

BNKU vs. BLSG - Drawdown Comparison

The maximum BNKU drawdown since its inception was -58.03%, smaller than the maximum BLSG drawdown of -83.67%. Use the drawdown chart below to compare losses from any high point for BNKU and BLSG.

Drawdown Indicators

	BNKU	BLSG	Difference
Max Drawdown Largest peak-to-trough decline	-58.03%	-83.67%	+25.64%
Max Drawdown (1Y) Largest decline over 1 year	-40.97%	—	—
Current Drawdown Current decline from peak	-16.59%	-83.52%	+66.93%
Average Drawdown Average peak-to-trough decline	-16.56%	-60.12%	+43.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.48%	—	—

Volatility

Volatility by Period

	BNKU	BLSG	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.86%	—	—
Volatility (6M) Calculated over the trailing 6-month period	45.02%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	56.70%	145.44%	-88.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.86%	145.44%	-72.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.86%	145.44%	-72.58%

BNKU vs. BLSG - Expense Ratio Comparison

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

Dividends

BNKU vs. BLSG - Dividend Comparison

Neither BNKU nor BLSG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BNKU and BLSG in my portfolio?

BNKU and BLSG have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BNKU or BLSG?

On fees, BLSG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BNKU or BLSG?

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

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

BNKU and BLSG have nearly identical dividend yields, around 0.00%.

What is the main difference between BNKU and BLSG?

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