BNKU vs. MUU

Last updated Jun 24, 2026

BNKU (MicroSectors U.S. Big Banks Index 3X Leveraged ETNs) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds - BNKU tracks the Solactive MicroSectors U.S. Big Banks Index (-300%) while MUU tracks the Micron Technology, Inc. (200% Daily). Both are passively managed. At a correlation of -0.50, they often move in opposite directions. BNKU charges 0.95%/yr vs 1.01%/yr for MUU.

Performance

BNKU vs. MUU - 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 Direxion Daily MU Bull 2X Shares (MUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BNKU

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

MUU

• 1D: -26.28%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BNKU vs. MUU - Yearly Performance Comparison

	2026 (YTD)
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	9.59%
MUU Direxion Daily MU Bull 2X Shares	-12.11%

Correlation

The correlation between BNKU and MUU is -0.50, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 16, 2026	-0.50

Return for Risk

BNKU vs. MUU — 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

MUU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. MUU - 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 Direxion Daily MU Bull 2X Shares (MUU). 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	MUU	Difference
Sharpe ratio: Return per unit of total volatility	2.08	—	—
Sortino ratio: Return per unit of downside risk	2.40	—	—
Omega ratio: Gain probability vs. loss probability	1.31	—	—
Calmar ratio: Return relative to maximum drawdown	2.93	—	—
Martin ratio: Return relative to average drawdown	7.71	—	—

Drawdowns

BNKU vs. MUU - Drawdown Comparison

The maximum BNKU drawdown since its inception was -61.21%, which is greater than MUU's maximum drawdown of -26.28%. Use the drawdown chart below to compare losses from any high point for BNKU and MUU.

Drawdown Indicators

	BNKU	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-61.21%	-26.28%	-34.93%
Max Drawdown (1Y) Largest decline over 1 year	-40.97%	—	—
Current Drawdown Current decline from peak	0.00%	-26.28%	+26.28%
Average Drawdown Average peak-to-trough decline	-17.75%	-10.19%	-7.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.55%	—	—

Volatility

Volatility by Period

	BNKU	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.22%	—	—
Volatility (6M) Calculated over the trailing 6-month period	46.27%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	57.74%	295.32%	-237.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.83%	295.32%	-222.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.83%	295.32%	-222.49%

BNKU vs. MUU - Expense Ratio Comparison

BNKU has a 0.95% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

BNKU vs. MUU - Dividend Comparison

Neither BNKU nor MUU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BNKU and MUU in my portfolio?

BNKU and MUU have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BNKU or MUU?

On fees, BNKU is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BNKU or MUU?

BNKU is cheaper with a 0.95% expense ratio, compared with 1.01% for MUU.

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

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

What is the main difference between BNKU and MUU?

BNKU tracks Solactive MicroSectors U.S. Big Banks Index (-300%), while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: Bank of Montreal and Direxion. Their fees differ too: 0.95% for BNKU and 1.01% for MUU.