GDXU vs. BNKU

Last updated Jun 13, 2026

GDXU (MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040) and BNKU (MicroSectors U.S. Big Banks Index 3X Leveraged ETNs) are both Leveraged Equities funds - GDXU tracks the S-Network MicroSectors Gold Miners Index while BNKU tracks the Solactive MicroSectors U.S. Big Banks Index (-300%). Both are passively managed. Over the past year, GDXU returned 30.95% vs 111.56% for BNKU. At a 0.13 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

GDXU vs. BNKU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) 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, GDXU achieves a -56.00% return, which is significantly lower than BNKU's 14.86% return.

GDXU

• 1D: 8.84%
• 1M: -50.11%
• YTD: -56.00%
• 6M: -55.92%
• 1Y: 30.95%
• 3Y*: 37.87%
• 5Y*: -14.73%
• 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)

GDXU vs. BNKU - Yearly Performance Comparison

	2026 (YTD)	2025
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040	-56.00%	428.55%
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	14.86%	34.97%

Correlation

The correlation between GDXU and BNKU is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.13

The correlation between GDXU and BNKU shifts across timeframes, from 0.13 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.

GDXU vs. BNKU - Sectors Allocation Comparison

Sectors	GDXU	BNKU
Basic Materials	100.0%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	100.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

GDXU vs. BNKU — Risk / Return Rank

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

GDXU

GDXU Risk / Return Rank: 19
GDXU Sharpe Ratio Rank: 13
GDXU Sortino Ratio Rank: 26
GDXU Omega Ratio Rank: 29
GDXU Calmar Ratio Rank: 14
GDXU Martin Ratio Rank: 14

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.

GDXU vs. BNKU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) 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.

	GDXU	BNKU	Difference
Sharpe ratio: Return per unit of total volatility	0.22	1.94	-1.72
Sortino ratio: Return per unit of downside risk	1.27	2.30	-1.02
Omega ratio: Gain probability vs. loss probability	1.18	1.30	-0.12
Calmar ratio: Return relative to maximum drawdown	0.37	2.74	-2.37
Martin ratio: Return relative to average drawdown	0.80	7.20	-6.40

GDXU vs. BNKU - Sharpe Ratio Comparison

The current GDXU Sharpe Ratio is 0.22, which is lower than the BNKU Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of GDXU 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

GDXU vs. BNKU - Drawdown Comparison

The maximum GDXU drawdown since its inception was -94.39%, which is greater than BNKU's maximum drawdown of -61.21%. Use the drawdown chart below to compare losses from any high point for GDXU and BNKU.

Drawdown Indicators

	GDXU	BNKU	Difference
Max Drawdown Largest peak-to-trough decline	-94.39%	-61.21%	-33.18%
Max Drawdown (1Y) Largest decline over 1 year	-83.97%	-40.97%	-43.00%
Max Drawdown (3Y) Largest decline over 3 years	-83.97%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-92.44%	—	—
Current Drawdown Current decline from peak	-79.58%	-2.63%	-76.95%
Average Drawdown Average peak-to-trough decline	-69.77%	-18.05%	-51.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.59%	15.55%	+23.04%

Volatility

GDXU vs. BNKU - Volatility Comparison

MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) has a higher volatility of 54.28% compared to MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) at 15.55%. This indicates that GDXU'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

	GDXU	BNKU	Difference
Volatility (1M) Calculated over the trailing 1-month period	54.28%	15.55%	+38.73%
Volatility (6M) Calculated over the trailing 6-month period	123.72%	45.72%	+78.00%
Volatility (1Y) Calculated over the trailing 1-year period	142.00%	57.72%	+84.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	111.92%	73.10%	+38.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	110.82%	73.10%	+37.72%

GDXU vs. BNKU - Expense Ratio Comparison

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

Dividends

GDXU vs. BNKU - Dividend Comparison

Neither GDXU nor BNKU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GDXU and BNKU in my portfolio?

GDXU and BNKU have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GDXU or BNKU?

GDXU has higher volatility (54.28%) compared to BNKU (15.55%). In terms of maximum drawdown, GDXU dropped -94.39% vs BNKU's -61.21%.

Which ETF is better, GDXU or BNKU?

On 1-year performance, BNKU leads with 111.56% vs 30.95% for GDXU. 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, GDXU or BNKU?

Over the 1-year period, BNKU has performed better with a 111.56% return vs 30.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXU or BNKU?

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

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

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

What is the main difference between GDXU and BNKU?

GDXU tracks S-Network MicroSectors Gold Miners Index, while BNKU tracks Solactive MicroSectors U.S. Big Banks Index (-300%). They also come from different issuers: BMO and Bank of Montreal.

Which has better risk-adjusted returns?

BNKU currently has the higher Sharpe Ratio (1.94 vs 0.22), 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.