BNKU vs. DBO

Last updated Aug 4, 2026

BNKU (MicroSectors U.S. Big Banks Index 3X Leveraged ETNs) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - BNKU is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Banks Index (-300%), while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. Both are passively managed. Over the past year, BNKU returned 100.75% vs 51.44% for DBO. Their -0.06 correlation means they have often moved in opposite directions in the past. BNKU charges 0.95%/yr vs 0.78%/yr for DBO.

Performance

BNKU vs. DBO - 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 Invesco DB Oil Fund (DBO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNKU achieves a 31.56% return, which is significantly lower than DBO's 66.72% return.

BNKU

• 1D: 1.66%
• 1M: 7.26%
• 6M: 22.79%
• YTD: 31.56%
• 1Y: 100.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 48.65%

DBO

• 1D: -5.53%
• 1M: 17.71%
• 6M: 53.16%
• YTD: 66.72%
• 1Y: 51.44%
• 3Y*: 12.33%
• 5Y*: 13.64%
• 10Y*: 11.43%
• ALL TIME*: 0.22%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	$287.92K	$638.07K	$490.60K
DBO Invesco DB Oil Fund	$11.34M	$10.71M	$13.49M

BNKU vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	31.56%	34.97%
DBO Invesco DB Oil Fund	66.72%	-13.52%

Correlation

The correlation between BNKU and DBO is -0.18, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.18
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	-0.06

The correlation between BNKU and DBO shifts across timeframes, from -0.18 (1 year) to -0.06 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BNKU vs. DBO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BNKU

BNKU Risk / Return Rank: 63
BNKU Sharpe Ratio Rank: 72
BNKU Sortino Ratio Rank: 61
BNKU Omega Ratio Rank: 62
BNKU Calmar Ratio Rank: 68
BNKU Martin Ratio Rank: 53

DBO

DBO Risk / Return Rank: 51
DBO Sharpe Ratio Rank: 53
DBO Sortino Ratio Rank: 53
DBO Omega Ratio Rank: 50
DBO Calmar Ratio Rank: 51
DBO Martin Ratio Rank: 48

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BNKU vs. DBO - 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 Invesco DB Oil Fund (DBO). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BNKU	DBO	Difference
Sharpe ratio: Return per unit of total volatility	1.71	1.33	+0.38
Sortino ratio: Return per unit of downside risk	2.14	1.92	+0.22
Omega ratio: Gain probability vs. loss probability	1.28	1.23	+0.04
Calmar ratio: Return relative to maximum drawdown	2.47	1.86	+0.61
Martin ratio: Return relative to average drawdown	6.51	5.64	+0.86

BNKU vs. DBO - Sharpe Ratio Comparison

The current BNKU Sharpe Ratio is 1.71, which is comparable to the DBO Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of BNKU and DBO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BNKU vs. DBO - Drawdown Comparison

The maximum BNKU drawdown since its inception was -61.21%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for BNKU and DBO.

Drawdown Indicators

	BNKU	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-61.21%	-90.18%	+28.97%
Max Drawdown (1Y) Largest decline over 1 year	-40.97%	-27.73%	-13.24%
Max Drawdown (3Y) Largest decline over 3 years	—	-28.20%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-37.68%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-61.69%	—
Current Drawdown Current decline from peak	-6.02%	-56.13%	+50.11%
Average Drawdown Average peak-to-trough decline	-16.74%	-62.20%	+45.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.54%	9.16%	+6.38%

Volatility

BNKU vs. DBO - Volatility Comparison

MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) and Invesco DB Oil Fund (DBO) have volatilities of 18.49% and 18.99%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNKU	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.49%	18.99%	-0.50%
Volatility (6M) Calculated over the trailing 6-month period	46.92%	34.30%	+12.62%
Volatility (1Y) Calculated over the trailing 1-year period	59.32%	38.86%	+20.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.91%	33.43%	+38.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.91%	32.24%	+39.67%

BNKU vs. DBO - Expense Ratio Comparison

BNKU has a 0.95% expense ratio, which is higher than DBO's 0.78% expense ratio.

Dividends

BNKU vs. DBO - Dividend Comparison

BNKU has not paid dividends to shareholders, while DBO's dividend yield for the trailing twelve months is around 2.11%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DBO Invesco DB Oil Fund	2.11%	3.51%	4.68%	4.59%	0.66%	0.00%	0.00%	1.63%	1.58%

Frequently Asked Questions

Can I hold both BNKU and DBO in my portfolio?

BNKU and DBO have a correlation of -0.18, 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 DBO?

DBO has higher volatility (18.99%) compared to BNKU (18.49%). In terms of maximum drawdown, BNKU dropped -61.21% vs DBO's -90.18%.

Which ETF is better, BNKU or DBO?

On 1-year performance, BNKU leads with 100.75% vs 51.44% for DBO. On fees, DBO is cheaper at 0.78% per year. On volatility, BNKU has been the lower-risk option at 18.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNKU or DBO?

Over the 1-year period, BNKU has performed better with a 100.75% return vs 51.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNKU or DBO?

DBO is cheaper with a 0.78% expense ratio, compared with 0.95% for BNKU.

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

DBO has the higher dividend yield at 2.11%, compared with 0.00% for BNKU.

What is the main difference between BNKU and DBO?

BNKU is categorized as Leveraged Equities, while DBO is Oil & Gas. BNKU tracks Solactive MicroSectors U.S. Big Banks Index (-300%), while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: BMO and Invesco. Their fees differ too: 0.95% for BNKU and 0.78% for DBO.

Which has better risk-adjusted returns?

BNKU currently has the higher Sharpe Ratio (1.71 vs 1.33), 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.