BNKU vs. GSIB

Last updated Apr 1, 2026

Compare and contrast key facts about MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) and Themes Global Systemically Important Banks ETF (GSIB).

BNKU and GSIB 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. GSIB is an actively managed fund by Themes. It was launched on Dec 14, 2023.

Performance

BNKU vs. GSIB - 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 Themes Global Systemically Important Banks ETF (GSIB). The values are adjusted to include any dividend payments, if applicable.

BNKU vs. GSIB - Yearly Performance Comparison

	2026 (YTD)	2025
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	-21.78%	46.04%
GSIB Themes Global Systemically Important Banks ETF	-3.15%	42.37%

Returns By Period

In the year-to-date period, BNKU achieves a -21.78% return, which is significantly lower than GSIB's -3.15% return.

BNKU

• 1D: 10.05%
• 1M: -5.87%
• YTD: -21.78%
• 6M: -6.06%
• 1Y: 63.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GSIB

• 1D: 4.01%
• 1M: -4.96%
• YTD: -3.15%
• 6M: 7.71%
• 1Y: 36.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BNKU vs. GSIB - Expense Ratio Comparison

BNKU has a 0.95% expense ratio, which is higher than GSIB's 0.35% expense ratio.

BNKU

MicroSectors U.S. Big Banks Index 3X Leveraged ETNs

GSIB

Themes Global Systemically Important Banks ETF

Return for Risk

BNKU vs. GSIB — Risk / Return Rank

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

BNKU

BNKU Risk / Return Rank: 56
BNKU Sharpe Ratio Rank: 49
BNKU Sortino Ratio Rank: 56
BNKU Omega Ratio Rank: 61
BNKU Calmar Ratio Rank: 67
BNKU Martin Ratio Rank: 48

GSIB

GSIB Risk / Return Rank: 86
GSIB Sharpe Ratio Rank: 88
GSIB Sortino Ratio Rank: 88
GSIB Omega Ratio Rank: 86
GSIB Calmar Ratio Rank: 86
GSIB Martin Ratio Rank: 82

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. GSIB - 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 Themes Global Systemically Important Banks ETF (GSIB). 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	GSIB	Difference
Sharpe ratio Return per unit of total volatility	0.86	1.79	-0.92
Sortino ratio Return per unit of downside risk	1.44	2.39	-0.96
Omega ratio Gain probability vs. loss probability	1.22	1.34	-0.12
Calmar ratio Return relative to maximum drawdown	1.66	2.51	-0.86
Martin ratio Return relative to average drawdown	4.49	8.62	-4.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BNKU vs. GSIB - Sharpe Ratio Comparison

The current BNKU Sharpe Ratio is 0.86, which is lower than the GSIB Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of BNKU and GSIB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BNKU	GSIB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	1.79	-0.92
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	2.15	-1.98

Correlation

The correlation between BNKU and GSIB is 0.77, 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.

Dividends

BNKU vs. GSIB - Dividend Comparison

BNKU has not paid dividends to shareholders, while GSIB's dividend yield for the trailing twelve months is around 1.97%.

	TTM	2025	2024
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	0.00%	0.00%	0.00%
GSIB Themes Global Systemically Important Banks ETF	1.97%	1.91%	1.67%

Drawdowns

BNKU vs. GSIB - Drawdown Comparison

The maximum BNKU drawdown since its inception was -58.03%, which is greater than GSIB's maximum drawdown of -17.71%. Use the drawdown chart below to compare losses from any high point for BNKU and GSIB.

Drawdown Indicators

	BNKU	GSIB	Difference
Max Drawdown Largest peak-to-trough decline	-58.03%	-17.71%	-40.32%
Max Drawdown (1Y) Largest decline over 1 year	-41.95%	-14.59%	-27.36%
Current Drawdown Current decline from peak	-33.69%	-9.87%	-23.82%
Average Drawdown Average peak-to-trough decline	-15.99%	-2.06%	-13.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.46%	4.25%	+11.21%

Volatility

BNKU vs. GSIB - Volatility Comparison

MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) has a higher volatility of 18.30% compared to Themes Global Systemically Important Banks ETF (GSIB) at 7.69%. This indicates that BNKU's price experiences larger fluctuations and is considered to be riskier than GSIB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNKU	GSIB	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.30%	7.69%	+10.61%
Volatility (6M) Calculated over the trailing 6-month period	46.11%	13.05%	+33.06%
Volatility (1Y) Calculated over the trailing 1-year period	73.78%	20.79%	+52.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.73%	18.39%	+57.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.73%	18.39%	+57.34%