BNKU vs. NFXS

Last updated Jun 24, 2026

BNKU (MicroSectors U.S. Big Banks Index 3X Leveraged ETNs) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both exchange-traded funds - BNKU is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Banks Index (-300%), while NFXS is a Inverse Equities fund actively managed by Direxion. BNKU is passively managed, while NFXS is actively managed. Over the past year, BNKU returned 119.44% vs 64.26% for NFXS. At a correlation of -0.25, they often move in opposite directions. BNKU charges 0.95%/yr vs 1.03%/yr for NFXS.

Performance

BNKU vs. NFXS - 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 NFLX Bear 1X Shares (NFXS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with BNKU having a 24.58% return and NFXS slightly lower at 24.21%.

BNKU

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

NFXS

• 1D: 0.09%
• 1M: 21.28%
• YTD: 24.21%
• 6M: 24.00%
• 1Y: 64.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BNKU vs. NFXS - Yearly Performance Comparison

	2026 (YTD)	2025
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	24.58%	34.97%
NFXS Direxion Daily NFLX Bear 1X Shares	24.21%	7.60%

Correlation

The correlation between BNKU and NFXS is -0.10, 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 (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	-0.25

The correlation between BNKU and NFXS shifts across timeframes, from -0.25 (all time) to -0.10 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BNKU vs. NFXS — 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

NFXS

NFXS Risk / Return Rank: 55
NFXS Sharpe Ratio Rank: 65
NFXS Sortino Ratio Rank: 60
NFXS Omega Ratio Rank: 68
NFXS Calmar Ratio Rank: 45
NFXS Martin Ratio Rank: 39

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. NFXS - 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 NFLX Bear 1X Shares (NFXS). 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	NFXS	Difference
Sharpe ratio: Return per unit of total volatility	2.08	1.91	+0.17
Sortino ratio: Return per unit of downside risk	2.40	2.55	-0.15
Omega ratio: Gain probability vs. loss probability	1.31	1.36	-0.05
Calmar ratio: Return relative to maximum drawdown	2.93	2.06	+0.87
Martin ratio: Return relative to average drawdown	7.71	5.64	+2.07

BNKU vs. NFXS - Sharpe Ratio Comparison

The current BNKU Sharpe Ratio is 2.08, which is comparable to the NFXS Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of BNKU and NFXS, 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. NFXS - Drawdown Comparison

The maximum BNKU drawdown since its inception was -61.21%, which is greater than NFXS's maximum drawdown of -50.37%. Use the drawdown chart below to compare losses from any high point for BNKU and NFXS.

Drawdown Indicators

	BNKU	NFXS	Difference
Max Drawdown Largest peak-to-trough decline	-61.21%	-50.37%	-10.84%
Max Drawdown (1Y) Largest decline over 1 year	-40.97%	-31.31%	-9.66%
Current Drawdown Current decline from peak	0.00%	-12.88%	+12.88%
Average Drawdown Average peak-to-trough decline	-17.75%	-31.93%	+14.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.55%	11.45%	+4.10%

Volatility

BNKU vs. NFXS - Volatility Comparison

MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) has a higher volatility of 16.22% compared to Direxion Daily NFLX Bear 1X Shares (NFXS) at 7.74%. This indicates that BNKU's price experiences larger fluctuations and is considered to be riskier than NFXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNKU	NFXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.22%	7.74%	+8.48%
Volatility (6M) Calculated over the trailing 6-month period	46.27%	26.22%	+20.05%
Volatility (1Y) Calculated over the trailing 1-year period	57.74%	33.81%	+23.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.83%	34.65%	+38.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.83%	34.65%	+38.18%

BNKU vs. NFXS - Expense Ratio Comparison

BNKU has a 0.95% expense ratio, which is lower than NFXS's 1.03% expense ratio.

Dividends

BNKU vs. NFXS - Dividend Comparison

BNKU has not paid dividends to shareholders, while NFXS's dividend yield for the trailing twelve months is around 3.23%.

Position	TTM	2025	2024
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	0.00%	0.00%	0.00%
NFXS Direxion Daily NFLX Bear 1X Shares	3.23%	3.53%	0.87%

Frequently Asked Questions

Can I hold both BNKU and NFXS in my portfolio?

BNKU and NFXS have a correlation of -0.10, 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 NFXS?

BNKU has higher volatility (16.22%) compared to NFXS (7.74%). In terms of maximum drawdown, BNKU dropped -61.21% vs NFXS's -50.37%.

Which ETF is better, BNKU or NFXS?

On 1-year performance, BNKU leads with 119.44% vs 64.26% for NFXS. On fees, BNKU is cheaper at 0.95% per year. On volatility, NFXS has been the lower-risk option at 7.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNKU or NFXS?

Over the 1-year period, BNKU has performed better with a 119.44% return vs 64.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNKU or NFXS?

BNKU is cheaper with a 0.95% expense ratio, compared with 1.03% for NFXS.

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

NFXS has the higher dividend yield at 3.23%, compared with 0.00% for BNKU.

What is the main difference between BNKU and NFXS?

BNKU is categorized as Leveraged Equities, while NFXS is Inverse Equities. They also come from different issuers: Bank of Montreal and Direxion. Their fees differ too: 0.95% for BNKU and 1.03% for NFXS.

Which has better risk-adjusted returns?

BNKU currently has the higher Sharpe Ratio (2.08 vs 1.91), 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.