BNKU vs. SHNY

Last updated Aug 4, 2026

BNKU (MicroSectors U.S. Big Banks Index 3X Leveraged ETNs) and SHNY (MicroSectors Gold 3X Leveraged ETN) are both exchange-traded funds - BNKU is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Banks Index (-300%), while SHNY is a Leveraged Commodities fund tracking the SPDR Gold Shares ETF (GLD). Both are passively managed. Over the past year, BNKU returned 100.75% vs 10.61% for SHNY. Their 0.05 correlation means their historical movements had little consistent relationship. Both charge a 0.95% expense ratio.

Performance

BNKU vs. SHNY - 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 3X Leveraged ETN (SHNY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNKU achieves a 31.56% return, which is significantly higher than SHNY's -39.40% return.

BNKU

• 1D: 1.66%
• 1M: 7.26%
• 6M: 22.79%
• YTD: 31.56%
• 1Y: 100.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 48.65%

SHNY

• 1D: 0.00%
• 1M: -7.48%
• 6M: -47.72%
• YTD: -39.40%
• 1Y: 10.61%
• 3Y*: 45.14%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 39.91%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	$287.92K	$638.07K	$490.60K
SHNY MicroSectors Gold 3X Leveraged ETN	$5.68M	$4.49M	$6.07M

BNKU vs. SHNY - Yearly Performance Comparison

	2026 (YTD)	2025
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	31.56%	34.97%
SHNY MicroSectors Gold 3X Leveraged ETN	-39.40%	132.75%

Correlation

The correlation between BNKU and SHNY is 0.21, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.21
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.05

The correlation between BNKU and SHNY shifts across timeframes, from 0.05 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BNKU vs. SHNY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BNKU

BNKU Risk / Return Rank: 63
BNKU Sharpe Ratio Rank: 72
BNKU Sortino Ratio Rank: 61
BNKU Omega Ratio Rank: 62
BNKU Calmar Ratio Rank: 68
BNKU Martin Ratio Rank: 53

SHNY

SHNY Risk / Return Rank: 17
SHNY Sharpe Ratio Rank: 14
SHNY Sortino Ratio Rank: 21
SHNY Omega Ratio Rank: 23
SHNY Calmar Ratio Rank: 14
SHNY Martin Ratio Rank: 13

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BNKU vs. SHNY - 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 3X Leveraged ETN (SHNY). 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	SHNY	Difference
Sharpe ratio: Return per unit of total volatility	1.71	0.13	+1.58
Sortino ratio: Return per unit of downside risk	2.14	0.73	+1.40
Omega ratio: Gain probability vs. loss probability	1.28	1.11	+0.17
Calmar ratio: Return relative to maximum drawdown	2.47	0.15	+2.32
Martin ratio: Return relative to average drawdown	6.51	0.29	+6.22

BNKU vs. SHNY - Sharpe Ratio Comparison

The current BNKU Sharpe Ratio is 1.71, which is higher than the SHNY Sharpe Ratio of 0.13. The chart below compares the historical Sharpe Ratios of BNKU and SHNY, 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. SHNY - Drawdown Comparison

The maximum BNKU drawdown since its inception was -61.21%, smaller than the maximum SHNY drawdown of -69.36%. Use the drawdown chart below to compare losses from any high point for BNKU and SHNY.

Drawdown Indicators

	BNKU	SHNY	Difference
Max Drawdown Largest peak-to-trough decline	-61.21%	-69.36%	+8.15%
Max Drawdown (1Y) Largest decline over 1 year	-40.97%	-69.36%	+28.39%
Max Drawdown (3Y) Largest decline over 3 years	—	-69.36%	—
Current Drawdown Current decline from peak	-6.02%	-68.12%	+62.10%
Average Drawdown Average peak-to-trough decline	-16.74%	-17.32%	+0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.54%	36.55%	-21.01%

Volatility

BNKU vs. SHNY - Volatility Comparison

MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) and MicroSectors Gold 3X Leveraged ETN (SHNY) have volatilities of 18.49% and 18.04%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNKU	SHNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.49%	18.04%	+0.45%
Volatility (6M) Calculated over the trailing 6-month period	46.92%	62.24%	-15.32%
Volatility (1Y) Calculated over the trailing 1-year period	59.32%	83.21%	-23.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.91%	59.43%	+12.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.91%	59.43%	+12.48%

BNKU vs. SHNY - Expense Ratio Comparison

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

Dividends

BNKU vs. SHNY - Dividend Comparison

Neither BNKU nor SHNY has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BNKU and SHNY in my portfolio?

BNKU and SHNY have a correlation of 0.21, 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 SHNY?

BNKU has higher volatility (18.49%) compared to SHNY (18.04%). In terms of maximum drawdown, BNKU dropped -61.21% vs SHNY's -69.36%.

Which ETF is better, BNKU or SHNY?

On 1-year performance, BNKU leads with 100.75% vs 10.61% for SHNY. Both ETFs have the same 0.95% expense ratio. On volatility, SHNY has been the lower-risk option at 18.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNKU or SHNY?

Over the 1-year period, BNKU has performed better with a 100.75% return vs 10.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNKU or SHNY?

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

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

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

What is the main difference between BNKU and SHNY?

BNKU is categorized as Leveraged Equities, while SHNY is Leveraged Commodities. BNKU tracks Solactive MicroSectors U.S. Big Banks Index (-300%), while SHNY tracks SPDR Gold Shares ETF (GLD).

Which has better risk-adjusted returns?

BNKU currently has the higher Sharpe Ratio (1.71 vs 0.13), 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.