FAS vs. BNKU
Compare and contrast key facts about Direxion Daily Financial Bull 3X Shares (FAS) and MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU).
FAS and BNKU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FAS is a passively managed fund by Direxion that tracks the performance of the Russell 1000 Financial Services Index (300%). It was launched on Nov 6, 2008. BNKU is a passively managed fund by Bank of Montreal that tracks the performance of the Solactive MicroSectors U.S. Big Banks Index (-300%). It was launched on Apr 2, 2019. Both FAS and BNKU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FAS or BNKU.
Key characteristics
| FAS | BNKU | |
|---|---|---|
| YTD Return | 29.59% | 33.00% |
| 1Y Return | 98.35% | 158.35% |
| 3Y Return (Ann) | -2.94% | -18.38% |
| 5Y Return (Ann) | 10.91% | -8.20% |
| Sharpe Ratio | 2.61 | 2.51 |
| Daily Std Dev | 36.75% | 62.11% |
| Max Drawdown | -94.81% | -91.10% |
| Current Drawdown | -27.60% | -60.38% |
Correlation
The correlation between FAS and BNKU is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
FAS vs. BNKU - Performance Comparison
In the year-to-date period, FAS achieves a 29.59% return, which is significantly lower than BNKU's 33.00% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FAS vs. BNKU - Expense Ratio Comparison
FAS has a 1.00% expense ratio, which is higher than BNKU's 0.95% expense ratio.
Risk-Adjusted Performance
FAS vs. BNKU - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Financial Bull 3X Shares (FAS) and MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU). 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.
Dividends
FAS vs. BNKU - Dividend Comparison
FAS's dividend yield for the trailing twelve months is around 1.56%, while BNKU has not paid dividends to shareholders.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
FAS Direxion Daily Financial Bull 3X Shares | 1.56% | 1.77% | 0.91% | 0.60% | 0.47% | 0.62% | 1.43% | 0.11% |
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FAS vs. BNKU - Drawdown Comparison
The maximum FAS drawdown since its inception was -94.81%, roughly equal to the maximum BNKU drawdown of -91.10%. Use the drawdown chart below to compare losses from any high point for FAS and BNKU. For additional features, visit the drawdowns tool.
Volatility
FAS vs. BNKU - Volatility Comparison
The current volatility for Direxion Daily Financial Bull 3X Shares (FAS) is 8.61%, while MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) has a volatility of 11.79%. This indicates that FAS experiences smaller price fluctuations and is considered to be less risky than BNKU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.