FLYU vs. BNKU

Last updated Jun 13, 2026

FLYU (MicroSectors Travel 3X Leveraged ETNs) and BNKU (MicroSectors U.S. Big Banks Index 3X Leveraged ETNs) are both Leveraged Equities funds - FLYU tracks the MerQube MicroSectors U.S. Travel Index while BNKU tracks the Solactive MicroSectors U.S. Big Banks Index (-300%). Both are passively managed. Over the past year, FLYU returned 1.53% vs 111.56% for BNKU. A 0.68 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.

Performance

FLYU vs. BNKU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Travel 3X Leveraged ETNs (FLYU) and MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLYU achieves a -18.15% return, which is significantly lower than BNKU's 14.86% return.

FLYU

• 1D: 2.56%
• 1M: 19.09%
• YTD: -18.15%
• 6M: -16.93%
• 1Y: 1.53%
• 3Y*: 4.85%
• 5Y*: —
• 10Y*: —

BNKU

• 1D: 5.30%
• 1M: 29.28%
• YTD: 14.86%
• 6M: 15.82%
• 1Y: 111.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLYU vs. BNKU - Yearly Performance Comparison

	2026 (YTD)	2025
FLYU MicroSectors Travel 3X Leveraged ETNs	-18.15%	-20.68%
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	14.86%	34.97%

Correlation

The correlation between FLYU and BNKU is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.68

The correlation between FLYU and BNKU has been stable across timeframes, ranging from 0.61 to 0.68 - a consistent structural relationship.

FLYU vs. BNKU - Sectors Allocation Comparison

Sectors	FLYU	BNKU
Consumer Cyclical	52.6%	-
Industrials	17.7%	-
Technology	16.4%	-
Communication Services	13.2%	-
Real Estate	0.1%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	100.0%
Healthcare	-	-
Utilities	-	-

Return for Risk

FLYU vs. BNKU — Risk / Return Rank

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

FLYU

FLYU Risk / Return Rank: 11
FLYU Sharpe Ratio Rank: 10
FLYU Sortino Ratio Rank: 14
FLYU Omega Ratio Rank: 14
FLYU Calmar Ratio Rank: 10
FLYU Martin Ratio Rank: 10

BNKU

BNKU Risk / Return Rank: 58
BNKU Sharpe Ratio Rank: 68
BNKU Sortino Ratio Rank: 54
BNKU Omega Ratio Rank: 55
BNKU Calmar Ratio Rank: 62
BNKU Martin Ratio Rank: 49

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.

FLYU vs. BNKU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Travel 3X Leveraged ETNs (FLYU) 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.

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.

	FLYU	BNKU	Difference
Sharpe ratio: Return per unit of total volatility	0.02	1.94	-1.92
Sortino ratio: Return per unit of downside risk	0.59	2.30	-1.71
Omega ratio: Gain probability vs. loss probability	1.07	1.30	-0.23
Calmar ratio: Return relative to maximum drawdown	0.03	2.74	-2.71
Martin ratio: Return relative to average drawdown	0.06	7.20	-7.14

FLYU vs. BNKU - Sharpe Ratio Comparison

The current FLYU Sharpe Ratio is 0.02, which is lower than the BNKU Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of FLYU and BNKU, 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

FLYU vs. BNKU - Drawdown Comparison

The maximum FLYU drawdown since its inception was -69.00%, which is greater than BNKU's maximum drawdown of -61.21%. Use the drawdown chart below to compare losses from any high point for FLYU and BNKU.

Drawdown Indicators

	FLYU	BNKU	Difference
Max Drawdown Largest peak-to-trough decline	-69.00%	-61.21%	-7.79%
Max Drawdown (1Y) Largest decline over 1 year	-52.33%	-40.97%	-11.36%
Max Drawdown (3Y) Largest decline over 3 years	-69.00%	—	—
Current Drawdown Current decline from peak	-35.07%	-2.63%	-32.44%
Average Drawdown Average peak-to-trough decline	-26.53%	-18.05%	-8.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.05%	15.55%	+9.50%

Volatility

FLYU vs. BNKU - Volatility Comparison

MicroSectors Travel 3X Leveraged ETNs (FLYU) has a higher volatility of 23.60% compared to MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) at 15.55%. This indicates that FLYU's price experiences larger fluctuations and is considered to be riskier than BNKU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLYU	BNKU	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.60%	15.55%	+8.05%
Volatility (6M) Calculated over the trailing 6-month period	59.07%	45.72%	+13.35%
Volatility (1Y) Calculated over the trailing 1-year period	75.07%	57.72%	+17.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.21%	73.10%	+10.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.21%	73.10%	+10.11%

FLYU vs. BNKU - Expense Ratio Comparison

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

Dividends

FLYU vs. BNKU - Dividend Comparison

Neither FLYU nor BNKU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FLYU and BNKU in my portfolio?

FLYU and BNKU have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLYU or BNKU?

FLYU has higher volatility (23.60%) compared to BNKU (15.55%). In terms of maximum drawdown, FLYU dropped -69.00% vs BNKU's -61.21%.

Which ETF is better, FLYU or BNKU?

On 1-year performance, BNKU leads with 111.56% vs 1.53% for FLYU. Both ETFs have the same 0.95% expense ratio. On volatility, BNKU has been the lower-risk option at 15.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLYU or BNKU?

Over the 1-year period, BNKU has performed better with a 111.56% return vs 1.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLYU or BNKU?

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

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

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

What is the main difference between FLYU and BNKU?

FLYU tracks MerQube MicroSectors U.S. Travel Index, while BNKU tracks Solactive MicroSectors U.S. Big Banks Index (-300%). They also come from different issuers: REX and Bank of Montreal.

Which has better risk-adjusted returns?

BNKU currently has the higher Sharpe Ratio (1.94 vs 0.02), 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.