BNKU vs. FNGU

Last updated Jun 24, 2026

BNKU (MicroSectors U.S. Big Banks Index 3X Leveraged ETNs) and FNGU (MicroSectors FANG+ 3X Leveraged ETNs) are both Leveraged Equities funds from Bank of Montreal - BNKU tracks the Solactive MicroSectors U.S. Big Banks Index (-300%) while FNGU tracks the NYSE FANG+ Index (Gross Total Return) (300%). Both are passively managed. Over the past year, BNKU returned 119.44% vs 17.53% for FNGU. At a 0.44 correlation, their price movements are largely independent. BNKU charges 0.95%/yr vs 2.60%/yr for FNGU.

Performance

BNKU vs. FNGU - 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 MicroSectors FANG+ 3X Leveraged ETNs (FNGU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNKU achieves a 24.58% return, which is significantly higher than FNGU's -0.99% return.

BNKU

• 1D: 2.43%
• 1M: 29.65%
• YTD: 24.58%
• 6M: 18.43%
• 1Y: 119.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FNGU

• 1D: -7.64%
• 1M: -12.95%
• YTD: -0.99%
• 6M: -5.84%
• 1Y: 17.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BNKU vs. FNGU - Yearly Performance Comparison

	2026 (YTD)	2025
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	24.58%	34.97%
FNGU MicroSectors FANG+ 3X Leveraged ETNs	-0.99%	3.02%

Correlation

The correlation between BNKU and FNGU 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 20, 2025	0.44

The correlation between BNKU and FNGU shifts across timeframes, from 0.30 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.

BNKU vs. FNGU - Sectors Allocation Comparison

Sectors	BNKU	FNGU
Financial Services	100.0%	-
Basic Materials	-	-
Communication Services	-	29.8%
Consumer Cyclical	-	9.6%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	60.6%
Utilities	-	-

Return for Risk

BNKU vs. FNGU — Risk / Return Rank

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

BNKU

BNKU Risk / Return Rank: 57
BNKU Sharpe Ratio Rank: 69
BNKU Sortino Ratio Rank: 53
BNKU Omega Ratio Rank: 54
BNKU Calmar Ratio Rank: 63
BNKU Martin Ratio Rank: 49

FNGU

FNGU Risk / Return Rank: 13
FNGU Sharpe Ratio Rank: 12
FNGU Sortino Ratio Rank: 16
FNGU Omega Ratio Rank: 16
FNGU Calmar Ratio Rank: 12
FNGU Martin Ratio Rank: 12

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. FNGU - 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 MicroSectors FANG+ 3X Leveraged ETNs (FNGU). 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	FNGU	Difference
Sharpe ratio: Return per unit of total volatility	2.08	0.27	+1.81
Sortino ratio: Return per unit of downside risk	2.40	0.81	+1.59
Omega ratio: Gain probability vs. loss probability	1.31	1.10	+0.21
Calmar ratio: Return relative to maximum drawdown	2.93	0.30	+2.64
Martin ratio: Return relative to average drawdown	7.71	0.70	+7.01

BNKU vs. FNGU - Sharpe Ratio Comparison

The current BNKU Sharpe Ratio is 2.08, which is higher than the FNGU Sharpe Ratio of 0.27. The chart below compares the historical Sharpe Ratios of BNKU and FNGU, 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. FNGU - Drawdown Comparison

The maximum BNKU drawdown since its inception was -61.21%, roughly equal to the maximum FNGU drawdown of -61.30%. Use the drawdown chart below to compare losses from any high point for BNKU and FNGU.

Drawdown Indicators

	BNKU	FNGU	Difference
Max Drawdown Largest peak-to-trough decline	-61.21%	-61.30%	+0.09%
Max Drawdown (1Y) Largest decline over 1 year	-40.97%	-59.55%	+18.58%
Current Drawdown Current decline from peak	0.00%	-30.82%	+30.82%
Average Drawdown Average peak-to-trough decline	-17.75%	-22.27%	+4.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.55%	25.17%	-9.62%

Volatility

BNKU vs. FNGU - Volatility Comparison

The current volatility for MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) is 16.22%, while MicroSectors FANG+ 3X Leveraged ETNs (FNGU) has a volatility of 33.21%. This indicates that BNKU experiences smaller price fluctuations and is considered to be less risky than FNGU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNKU	FNGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.22%	33.21%	-16.99%
Volatility (6M) Calculated over the trailing 6-month period	46.27%	52.56%	-6.29%
Volatility (1Y) Calculated over the trailing 1-year period	57.74%	64.46%	-6.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.83%	81.18%	-8.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.83%	81.18%	-8.35%

BNKU vs. FNGU - Expense Ratio Comparison

BNKU has a 0.95% expense ratio, which is lower than FNGU's 2.60% expense ratio.

Dividends

BNKU vs. FNGU - Dividend Comparison

Neither BNKU nor FNGU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BNKU and FNGU in my portfolio?

BNKU and FNGU 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 FNGU?

FNGU has higher volatility (33.21%) compared to BNKU (16.22%). In terms of maximum drawdown, BNKU dropped -61.21% vs FNGU's -61.30%.

Which ETF is better, BNKU or FNGU?

On 1-year performance, BNKU leads with 119.44% vs 17.53% for FNGU. On fees, BNKU is cheaper at 0.95% per year. On volatility, BNKU has been the lower-risk option at 16.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNKU or FNGU?

Over the 1-year period, BNKU has performed better with a 119.44% return vs 17.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNKU or FNGU?

BNKU is cheaper with a 0.95% expense ratio, compared with 2.60% for FNGU.

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

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

What is the main difference between BNKU and FNGU?

BNKU tracks Solactive MicroSectors U.S. Big Banks Index (-300%), while FNGU tracks NYSE FANG+ Index (Gross Total Return) (300%). Their fees differ too: 0.95% for BNKU and 2.60% for FNGU.

Which has better risk-adjusted returns?

BNKU currently has the higher Sharpe Ratio (2.08 vs 0.27), 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.