BNKU vs. FAS
Compare and contrast key facts about MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) and Direxion Daily Financial Bull 3X Shares (FAS).
BNKU and FAS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BNKU is a passively managed fund by Bank of Montreal that tracks the performance of the Solactive MicroSectors U.S. Big Banks Index (-300%). It was launched on Apr 2, 2019. FAS is a passively managed fund by Direxion that tracks the performance of the Russell 1000 Financial Services Index (300%). It was launched on Nov 6, 2008. Both BNKU and FAS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BNKU or FAS.
Key characteristics
| BNKU | FAS | |
|---|---|---|
| YTD Return | 23.79% | 20.00% |
| 1Y Return | 145.95% | 88.78% |
| 3Y Return (Ann) | -17.07% | -2.79% |
| 5Y Return (Ann) | -13.16% | 7.17% |
| Sharpe Ratio | 1.97 | 2.18 |
| Daily Std Dev | 63.46% | 37.43% |
| Max Drawdown | -91.10% | -94.81% |
| Current Drawdown | -63.13% | -32.96% |
Correlation
The correlation between BNKU and FAS is 0.90, 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.
Performance
BNKU vs. FAS - Performance Comparison
In the year-to-date period, BNKU achieves a 23.79% return, which is significantly higher than FAS's 20.00% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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BNKU vs. FAS - Expense Ratio Comparison
BNKU has a 0.95% expense ratio, which is lower than FAS's 1.00% expense ratio.
Risk-Adjusted Performance
BNKU vs. FAS - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) and Direxion Daily Financial Bull 3X Shares (FAS). 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.
Dividends
BNKU vs. FAS - Dividend Comparison
BNKU has not paid dividends to shareholders, while FAS's dividend yield for the trailing twelve months is around 1.68%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
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% |
FAS Direxion Daily Financial Bull 3X Shares | 1.68% | 1.77% | 0.91% | 0.60% | 0.47% | 0.62% | 1.43% | 0.11% |
Drawdowns
BNKU vs. FAS - Drawdown Comparison
The maximum BNKU drawdown since its inception was -91.10%, roughly equal to the maximum FAS drawdown of -94.81%. Use the drawdown chart below to compare losses from any high point for BNKU and FAS. For additional features, visit the drawdowns tool.
Volatility
BNKU vs. FAS - Volatility Comparison
MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) has a higher volatility of 16.17% compared to Direxion Daily Financial Bull 3X Shares (FAS) at 10.65%. This indicates that BNKU's price experiences larger fluctuations and is considered to be riskier than FAS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.