BRKU vs. SHNY

Last updated Jun 5, 2026

BRKU (Direxion Daily BRKB Bull 2X Shares) and SHNY (MicroSectors Gold 3X Leveraged ETN) are both exchange-traded funds - BRKU is a Leveraged Equities fund actively managed by Direxion, while SHNY is a Leveraged Commodities fund managed by BMO. Over the past year, BRKU returned -15.80% vs 50.54% for SHNY. At a correlation of -0.01, they often move in opposite directions. BRKU charges 0.97%/yr vs 0.95%/yr for SHNY.

Performance

BRKU vs. SHNY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily BRKB Bull 2X Shares (BRKU) 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, BRKU achieves a -13.68% return, which is significantly lower than SHNY's -12.24% return.

BRKU

• 1D: 1.28%
• 1M: 4.82%
• YTD: -13.68%
• 6M: -14.64%
• 1Y: -15.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHNY

• 1D: 2.59%
• 1M: -7.28%
• YTD: -12.24%
• 6M: -8.19%
• 1Y: 50.54%
• 3Y*: 60.05%
• 5Y*: —
• 10Y*: —

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

BRKU vs. SHNY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BRKU Direxion Daily BRKB Bull 2X Shares	-13.68%	6.44%	-3.96%
SHNY MicroSectors Gold 3X Leveraged ETN	-12.24%	214.54%	-11.48%

Correlation

The correlation between BRKU and SHNY is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.03
Correlation (All Time) Calculated using the full available price history since Dec 12, 2024	-0.01

Return for Risk

BRKU vs. SHNY — Risk / Return Rank

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

BRKU

BRKU Risk / Return Rank: 3
BRKU Sharpe Ratio Rank: 4
BRKU Sortino Ratio Rank: 4
BRKU Omega Ratio Rank: 4
BRKU Calmar Ratio Rank: 3
BRKU Martin Ratio Rank: 1

SHNY

SHNY Risk / Return Rank: 23
SHNY Sharpe Ratio Rank: 20
SHNY Sortino Ratio Rank: 24
SHNY Omega Ratio Rank: 28
SHNY Calmar Ratio Rank: 22
SHNY Martin Ratio Rank: 19

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.

BRKU vs. SHNY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily BRKB Bull 2X Shares (BRKU) 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.

	BRKU	SHNY	Difference
Sharpe ratio: Return per unit of total volatility	-0.57	0.64	-1.22
Sortino ratio: Return per unit of downside risk	-0.65	1.25	-1.90
Omega ratio: Gain probability vs. loss probability	0.92	1.19	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.72	0.92	-1.64
Martin ratio: Return relative to average drawdown	-1.45	1.96	-3.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BRKU vs. SHNY - Sharpe Ratio Comparison

The current BRKU Sharpe Ratio is -0.57, which is lower than the SHNY Sharpe Ratio of 0.64. The chart below compares the historical Sharpe Ratios of BRKU 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.

Sharpe Ratios by Period

	BRKU	SHNY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.57	0.64	-1.22
Sharpe Ratio (All Time) Calculated using the full available price history	-0.24	1.03	-1.27

Drawdowns

BRKU vs. SHNY - Drawdown Comparison

The maximum BRKU drawdown since its inception was -35.37%, smaller than the maximum SHNY drawdown of -54.99%. Use the drawdown chart below to compare losses from any high point for BRKU and SHNY.

Drawdown Indicators

	BRKU	SHNY	Difference
Max Drawdown Largest peak-to-trough decline	-35.37%	-54.99%	+19.62%
Max Drawdown (1Y) Largest decline over 1 year	-22.06%	-54.99%	+32.93%
Max Drawdown (3Y) Largest decline over 3 years	—	-54.99%	—
Current Drawdown Current decline from peak	-32.26%	-53.82%	+21.56%
Average Drawdown Average peak-to-trough decline	-18.91%	-14.99%	-3.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.93%	25.89%	-14.96%

Volatility

BRKU vs. SHNY - Volatility Comparison

The current volatility for Direxion Daily BRKB Bull 2X Shares (BRKU) is 7.11%, while MicroSectors Gold 3X Leveraged ETN (SHNY) has a volatility of 16.42%. This indicates that BRKU experiences smaller price fluctuations and is considered to be less risky than SHNY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRKU	SHNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.11%	16.42%	-9.31%
Volatility (6M) Calculated over the trailing 6-month period	20.71%	70.90%	-50.19%
Volatility (1Y) Calculated over the trailing 1-year period	27.76%	78.78%	-51.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.39%	58.33%	-23.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.39%	58.33%	-23.94%

BRKU vs. SHNY - Expense Ratio Comparison

BRKU has a 0.97% expense ratio, which is higher than SHNY's 0.95% expense ratio.

Dividends

BRKU vs. SHNY - Dividend Comparison

BRKU's dividend yield for the trailing twelve months is around 2.95%, while SHNY has not paid dividends to shareholders.

Position	TTM	2025
BRKU Direxion Daily BRKB Bull 2X Shares	2.95%	2.44%
SHNY MicroSectors Gold 3X Leveraged ETN	0.00%	0.00%

Frequently Asked Questions

Can I hold both BRKU and SHNY in my portfolio?

BRKU and SHNY have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BRKU or SHNY?

SHNY has higher volatility (16.42%) compared to BRKU (7.11%). In terms of maximum drawdown, BRKU dropped -35.37% vs SHNY's -54.99%.

Which ETF is better, BRKU or SHNY?

On 1-year performance, SHNY leads with 50.54% vs -15.80% for BRKU. On fees, SHNY is cheaper at 0.95% per year. On volatility, BRKU has been the lower-risk option at 7.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BRKU or SHNY?

Over the 1-year period, SHNY has performed better with a 50.54% return vs -15.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BRKU or SHNY?

SHNY is cheaper with a 0.95% expense ratio, compared with 0.97% for BRKU.

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

BRKU has the higher dividend yield at 2.95%, compared with 0.00% for SHNY.

What is the main difference between BRKU and SHNY?

BRKU is categorized as Leveraged Equities, while SHNY is Leveraged Commodities. They also come from different issuers: Direxion and BMO. Their fees differ too: 0.97% for BRKU and 0.95% for SHNY.

Which has better risk-adjusted returns?

SHNY currently has the higher Sharpe Ratio (0.64 vs -0.57), 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.