BNKU vs. GDXU

Last updated Jun 13, 2026

BNKU (MicroSectors U.S. Big Banks Index 3X Leveraged ETNs) and GDXU (MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040) are both Leveraged Equities funds - BNKU tracks the Solactive MicroSectors U.S. Big Banks Index (-300%) while GDXU tracks the S-Network MicroSectors Gold Miners Index. Both are passively managed. Over the past year, BNKU returned 111.56% vs 30.95% for GDXU. At a 0.13 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

BNKU vs. GDXU - 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 Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNKU achieves a 14.86% return, which is significantly higher than GDXU's -56.00% return.

BNKU

• 1D: 5.30%
• 1M: 29.28%
• YTD: 14.86%
• 6M: 15.82%
• 1Y: 111.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GDXU

• 1D: 8.84%
• 1M: -50.11%
• YTD: -56.00%
• 6M: -55.92%
• 1Y: 30.95%
• 3Y*: 37.87%
• 5Y*: -14.73%
• 10Y*: —

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

BNKU vs. GDXU - Yearly Performance Comparison

	2026 (YTD)	2025
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	14.86%	34.97%
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040	-56.00%	428.55%

Correlation

The correlation between BNKU and GDXU is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.13

The correlation between BNKU and GDXU shifts across timeframes, from 0.13 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.

BNKU vs. GDXU - Sectors Allocation Comparison

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

Return for Risk

BNKU vs. GDXU — Risk / Return Rank

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

BNKU

BNKU Risk / Return Rank: 58
BNKU Sharpe Ratio Rank: 68
BNKU Sortino Ratio Rank: 54
BNKU Omega Ratio Rank: 55
BNKU Calmar Ratio Rank: 62
BNKU Martin Ratio Rank: 49

GDXU

GDXU Risk / Return Rank: 19
GDXU Sharpe Ratio Rank: 13
GDXU Sortino Ratio Rank: 26
GDXU Omega Ratio Rank: 29
GDXU Calmar Ratio Rank: 14
GDXU Martin Ratio Rank: 14

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. GDXU - 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 Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU). 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	GDXU	Difference
Sharpe ratio: Return per unit of total volatility	1.94	0.22	+1.72
Sortino ratio: Return per unit of downside risk	2.30	1.27	+1.02
Omega ratio: Gain probability vs. loss probability	1.30	1.18	+0.12
Calmar ratio: Return relative to maximum drawdown	2.74	0.37	+2.37
Martin ratio: Return relative to average drawdown	7.20	0.80	+6.40

BNKU vs. GDXU - Sharpe Ratio Comparison

The current BNKU Sharpe Ratio is 1.94, which is higher than the GDXU Sharpe Ratio of 0.22. The chart below compares the historical Sharpe Ratios of BNKU and GDXU, 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. GDXU - Drawdown Comparison

The maximum BNKU drawdown since its inception was -61.21%, smaller than the maximum GDXU drawdown of -94.39%. Use the drawdown chart below to compare losses from any high point for BNKU and GDXU.

Drawdown Indicators

	BNKU	GDXU	Difference
Max Drawdown Largest peak-to-trough decline	-61.21%	-94.39%	+33.18%
Max Drawdown (1Y) Largest decline over 1 year	-40.97%	-83.97%	+43.00%
Max Drawdown (3Y) Largest decline over 3 years	—	-83.97%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-92.44%	—
Current Drawdown Current decline from peak	-2.63%	-79.58%	+76.95%
Average Drawdown Average peak-to-trough decline	-18.05%	-69.77%	+51.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.55%	38.59%	-23.04%

Volatility

BNKU vs. GDXU - Volatility Comparison

The current volatility for MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) is 15.55%, while MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) has a volatility of 54.28%. This indicates that BNKU experiences smaller price fluctuations and is considered to be less risky than GDXU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNKU	GDXU	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.55%	54.28%	-38.73%
Volatility (6M) Calculated over the trailing 6-month period	45.72%	123.72%	-78.00%
Volatility (1Y) Calculated over the trailing 1-year period	57.72%	142.00%	-84.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.10%	111.92%	-38.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.10%	110.82%	-37.72%

BNKU vs. GDXU - Expense Ratio Comparison

Both BNKU and GDXU have an expense ratio of 0.95%.

Dividends

BNKU vs. GDXU - Dividend Comparison

Neither BNKU nor GDXU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BNKU and GDXU in my portfolio?

BNKU and GDXU have a correlation of 0.25, 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 GDXU?

GDXU has higher volatility (54.28%) compared to BNKU (15.55%). In terms of maximum drawdown, BNKU dropped -61.21% vs GDXU's -94.39%.

Which ETF is better, BNKU or GDXU?

On 1-year performance, BNKU leads with 111.56% vs 30.95% for GDXU. Both ETFs have the same 0.95% expense ratio. On volatility, BNKU has been the lower-risk option at 15.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNKU or GDXU?

Over the 1-year period, BNKU has performed better with a 111.56% return vs 30.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNKU or GDXU?

BNKU and GDXU have the same expense ratio: 0.95% per year.

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

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

What is the main difference between BNKU and GDXU?

BNKU tracks Solactive MicroSectors U.S. Big Banks Index (-300%), while GDXU tracks S-Network MicroSectors Gold Miners Index. They also come from different issuers: Bank of Montreal and BMO.

Which has better risk-adjusted returns?

BNKU currently has the higher Sharpe Ratio (1.94 vs 0.22), 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.