BNKU vs. JEPQ

Last updated Jun 5, 2026

BNKU (MicroSectors U.S. Big Banks Index 3X Leveraged ETNs) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - BNKU is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Banks Index (-300%), while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Both are passively managed. Over the past year, BNKU returned 107.99% vs 28.59% for JEPQ. A 0.61 correlation means they provide meaningful diversification when combined. BNKU charges 0.95%/yr vs 0.35%/yr for JEPQ.

Performance

BNKU vs. JEPQ - 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 JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNKU achieves a 8.32% return, which is significantly lower than JEPQ's 9.42% return.

BNKU

• 1D: 10.09%
• 1M: 13.36%
• YTD: 8.32%
• 6M: 19.85%
• 1Y: 107.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: -0.12%
• 1M: 3.79%
• YTD: 9.42%
• 6M: 9.57%
• 1Y: 28.59%
• 3Y*: 20.81%
• 5Y*: —
• 10Y*: —

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

BNKU vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	8.32%	46.04%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.42%	10.32%

Correlation

The correlation between BNKU and JEPQ is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	0.61

The correlation between BNKU and JEPQ has been stable across timeframes, ranging from 0.52 to 0.61 - a consistent structural relationship.

BNKU vs. JEPQ - Sectors Allocation Comparison

Sectors	BNKU	JEPQ
Financial Services	100.0%	0.4%
Basic Materials	-	1.0%
Communication Services	-	15.4%
Consumer Cyclical	-	12.8%
Consumer Defensive	-	7.1%
Energy	-	0.4%
Healthcare	-	4.4%
Industrials	-	3.1%
Real Estate	-	0.2%
Technology	-	54.0%
Utilities	-	1.3%

Return for Risk

BNKU vs. JEPQ — Risk / Return Rank

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

BNKU

BNKU Risk / Return Rank: 50
BNKU Sharpe Ratio Rank: 56
BNKU Sortino Ratio Rank: 46
BNKU Omega Ratio Rank: 48
BNKU Calmar Ratio Rank: 54
BNKU Martin Ratio Rank: 44

JEPQ

JEPQ Risk / Return Rank: 76
JEPQ Sharpe Ratio Rank: 77
JEPQ Sortino Ratio Rank: 73
JEPQ Omega Ratio Rank: 81
JEPQ Calmar Ratio Rank: 66
JEPQ 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. JEPQ - 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 JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). 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	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	1.89	2.45	-0.56
Sortino ratio: Return per unit of downside risk	2.26	3.25	-0.99
Omega ratio: Gain probability vs. loss probability	1.30	1.48	-0.19
Calmar ratio: Return relative to maximum drawdown	2.65	3.26	-0.61
Martin ratio: Return relative to average drawdown	7.00	15.99	-8.99
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. JEPQ - Sharpe Ratio Comparison

The current BNKU Sharpe Ratio is 1.89, which is comparable to the JEPQ Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of BNKU and JEPQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BNKU	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	2.45	-0.56
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	1.00	-0.41

Drawdowns

BNKU vs. JEPQ - Drawdown Comparison

The maximum BNKU drawdown since its inception was -58.03%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for BNKU and JEPQ.

Drawdown Indicators

	BNKU	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-58.03%	-20.07%	-37.96%
Max Drawdown (1Y) Largest decline over 1 year	-40.97%	-8.82%	-32.15%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-8.18%	-0.21%	-7.97%
Average Drawdown Average peak-to-trough decline	-16.53%	-3.42%	-13.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.49%	1.79%	+13.70%

Volatility

BNKU vs. JEPQ - Volatility Comparison

MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) has a higher volatility of 16.53% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 1.28%. This indicates that BNKU's price experiences larger fluctuations and is considered to be riskier than JEPQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNKU	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.53%	1.28%	+15.25%
Volatility (6M) Calculated over the trailing 6-month period	46.00%	9.06%	+36.94%
Volatility (1Y) Calculated over the trailing 1-year period	57.51%	11.72%	+45.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.26%	16.60%	+56.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.26%	16.60%	+56.66%

BNKU vs. JEPQ - Expense Ratio Comparison

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

Dividends

BNKU vs. JEPQ - Dividend Comparison

BNKU has not paid dividends to shareholders, while JEPQ's dividend yield for the trailing twelve months is around 10.08%.

Position	TTM	2025	2024	2023	2022
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	0.00%	0.00%	0.00%	0.00%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.08%	10.53%	9.65%	10.03%	9.44%

Frequently Asked Questions

Can I hold both BNKU and JEPQ in my portfolio?

BNKU and JEPQ have a correlation of 0.52, 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 JEPQ?

BNKU has higher volatility (16.53%) compared to JEPQ (1.28%). In terms of maximum drawdown, BNKU dropped -58.03% vs JEPQ's -20.07%.

Which ETF is better, BNKU or JEPQ?

On 1-year performance, BNKU leads with 107.99% vs 28.59% for JEPQ. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 1.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNKU or JEPQ?

Over the 1-year period, BNKU has performed better with a 107.99% return vs 28.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNKU or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.95% for BNKU.

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

JEPQ has the higher dividend yield at 10.08%, compared with 0.00% for BNKU.

What is the main difference between BNKU and JEPQ?

BNKU is categorized as Leveraged Equities, while JEPQ is Nasdaq-100. BNKU tracks Solactive MicroSectors U.S. Big Banks Index (-300%), while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: Bank of Montreal and JPMorgan. Their fees differ too: 0.95% for BNKU and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.45 vs 1.89), 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.