BU vs. BMNG

Last updated Jun 4, 2026

BU (Defiance Daily Target 2X Long B ETF) and BMNG (Leverage Shares 2X Long BMNR Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.30 correlation, their price movements are largely independent. BU charges 1.29%/yr vs 0.75%/yr for BMNG.

Performance

BU vs. BMNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long B ETF (BU) and Leverage Shares 2X Long BMNR Daily ETF (BMNG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BU achieves a -20.39% return, which is significantly higher than BMNG's -75.13% return.

BU

• 1D: -5.94%
• 1M: 15.42%
• YTD: -20.39%
• 6M: -9.66%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BMNG

• 1D: -12.21%
• 1M: -48.30%
• YTD: -75.13%
• 6M: -85.16%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BU vs. BMNG - Yearly Performance Comparison

	2026 (YTD)	2025
BU Defiance Daily Target 2X Long B ETF	-20.39%	29.45%
BMNG Leverage Shares 2X Long BMNR Daily ETF	-75.13%	-28.05%

Correlation

The correlation between BU and BMNG is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025	0.30

Return for Risk

BU vs. BMNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long B ETF (BU) and Leverage Shares 2X Long BMNR Daily ETF (BMNG). 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.

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

Sharpe Ratios by Period

	BU	BMNG	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	-0.52	+0.58

Drawdowns

BU vs. BMNG - Drawdown Comparison

The maximum BU drawdown since its inception was -53.98%, smaller than the maximum BMNG drawdown of -95.36%. Use the drawdown chart below to compare losses from any high point for BU and BMNG.

Drawdown Indicators

	BU	BMNG	Difference
Max Drawdown Largest peak-to-trough decline	-53.98%	-95.36%	+41.38%
Current Drawdown Current decline from peak	-45.10%	-95.36%	+50.26%
Average Drawdown Average peak-to-trough decline	-25.32%	-81.38%	+56.06%

Volatility

Volatility by Period

	BU	BMNG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	97.59%	191.58%	-93.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.59%	191.58%	-93.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.59%	191.58%	-93.99%

BU vs. BMNG - Expense Ratio Comparison

BU has a 1.29% expense ratio, which is higher than BMNG's 0.75% expense ratio.

Dividends

BU vs. BMNG - Dividend Comparison

Neither BU nor BMNG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BU and BMNG in my portfolio?

BU and BMNG have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BU or BMNG?

On fees, BMNG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BU or BMNG?

BMNG is cheaper with a 0.75% expense ratio, compared with 1.29% for BU.

Which ETF pays a higher dividend yield, BU or BMNG?

BU and BMNG have nearly identical dividend yields, around 0.00%.

What is the main difference between BU and BMNG?

They also come from different issuers: Defiance and Leverage Shares. Their fees differ too: 1.29% for BU and 0.75% for BMNG.