FLYD vs. BMNU

Last updated Apr 3, 2026

Compare and contrast key facts about MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) and T-REX 2X Long BMNR Daily Target ETF (BMNU).

FLYD and BMNU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FLYD is a passively managed fund by REX that tracks the performance of the MerQube MicroSectors U.S. Travel Index. It was launched on Jun 22, 2022. BMNU is an actively managed fund by REX. It was launched on Sep 26, 2025.

Performance

FLYD vs. BMNU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) and T-REX 2X Long BMNR Daily Target ETF (BMNU). The values are adjusted to include any dividend payments, if applicable.

FLYD vs. BMNU - Yearly Performance Comparison

	2026 (YTD)	2025
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs	28.95%	-11.70%
BMNU T-REX 2X Long BMNR Daily Target ETF	-64.44%	-81.57%

Returns By Period

In the year-to-date period, FLYD achieves a 28.95% return, which is significantly higher than BMNU's -64.44% return.

FLYD

• 1D: 2.05%
• 1M: 8.63%
• YTD: 28.95%
• 6M: 9.97%
• 1Y: -59.41%
• 3Y*: -52.23%
• 5Y*: —
• 10Y*: —

BMNU

• 1D: -2.86%
• 1M: -10.76%
• YTD: -64.44%
• 6M: -94.62%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLYD vs. BMNU - Expense Ratio Comparison

FLYD has a 0.95% expense ratio, which is lower than BMNU's 1.50% expense ratio.

BMNU

T-REX 2X Long BMNR Daily Target ETF

FLYD

MicroSectors Travel -3X Inverse Leveraged ETNs

Return for Risk

FLYD vs. BMNU — Risk / Return Rank

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

FLYD

FLYD Risk / Return Rank: 3
FLYD Sharpe Ratio Rank: 3
FLYD Sortino Ratio Rank: 4
FLYD Omega Ratio Rank: 3
FLYD Calmar Ratio Rank: 1
FLYD Martin Ratio Rank: 5

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.

FLYD vs. BMNU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) and T-REX 2X Long BMNR Daily Target ETF (BMNU). 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.

	FLYD	BMNU	Difference
Sharpe ratio Return per unit of total volatility	-0.64	—	—
Sortino ratio Return per unit of downside risk	-0.62	—	—
Omega ratio Gain probability vs. loss probability	0.92	—	—
Calmar ratio Return relative to maximum drawdown	-0.75	—	—
Martin ratio Return relative to average drawdown	-0.85	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FLYD	BMNU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.72	-0.49	-0.24

Correlation

The correlation between FLYD and BMNU is -0.35. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

FLYD vs. BMNU - Dividend Comparison

Neither FLYD nor BMNU has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

FLYD vs. BMNU - Drawdown Comparison

The maximum FLYD drawdown since its inception was -97.96%, roughly equal to the maximum BMNU drawdown of -96.12%. Use the drawdown chart below to compare losses from any high point for FLYD and BMNU.

Drawdown Indicators

	FLYD	BMNU	Difference
Max Drawdown Largest peak-to-trough decline	-97.96%	-96.12%	-1.84%
Max Drawdown (1Y) Largest decline over 1 year	-82.41%	—	—
Current Drawdown Current decline from peak	-97.03%	-95.66%	-1.37%
Average Drawdown Average peak-to-trough decline	-82.48%	-74.65%	-7.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	72.68%	—	—

Volatility

Volatility by Period

	FLYD	BMNU	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.33%	—	—
Volatility (6M) Calculated over the trailing 6-month period	54.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	92.89%	205.45%	-112.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.44%	205.45%	-122.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.44%	205.45%	-122.01%