LMTL vs. BMNG

Last updated Jun 5, 2026

LMTL (Direxion Daily LMT Bull 2X ETF) and BMNG (Leverage Shares 2X Long BMNR Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.13 correlation, their price movements are largely independent. LMTL charges 1.07%/yr vs 0.75%/yr for BMNG.

Performance

LMTL vs. BMNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily LMT Bull 2X ETF (LMTL) 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, LMTL achieves a 8.57% return, which is significantly higher than BMNG's -72.19% return.

LMTL

• 1D: 2.29%
• 1M: 4.14%
• YTD: 8.57%
• 6M: 25.50%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BMNG

• 1D: 11.82%
• 1M: -43.79%
• YTD: -72.19%
• 6M: -85.64%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LMTL vs. BMNG - Yearly Performance Comparison

	2026 (YTD)	2025
LMTL Direxion Daily LMT Bull 2X ETF	8.57%	-2.28%
BMNG Leverage Shares 2X Long BMNR Daily ETF	-72.19%	-81.37%

Correlation

The correlation between LMTL and BMNG is 0.13, 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 Oct 28, 2025	0.13

Return for Risk

LMTL vs. BMNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily LMT Bull 2X ETF (LMTL) 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

	LMTL	BMNG	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	-0.52	+1.31

Drawdowns

LMTL vs. BMNG - Drawdown Comparison

The maximum LMTL drawdown since its inception was -45.74%, smaller than the maximum BMNG drawdown of -95.36%. Use the drawdown chart below to compare losses from any high point for LMTL and BMNG.

Drawdown Indicators

	LMTL	BMNG	Difference
Max Drawdown Largest peak-to-trough decline	-45.74%	-95.36%	+49.62%
Current Drawdown Current decline from peak	-43.02%	-94.82%	+51.80%
Average Drawdown Average peak-to-trough decline	-13.72%	-81.47%	+67.75%

Volatility

Volatility by Period

	LMTL	BMNG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	48.78%	191.69%	-142.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.78%	191.69%	-142.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.78%	191.69%	-142.91%

LMTL vs. BMNG - Expense Ratio Comparison

LMTL has a 1.07% expense ratio, which is higher than BMNG's 0.75% expense ratio.

Dividends

LMTL vs. BMNG - Dividend Comparison

LMTL's dividend yield for the trailing twelve months is around 3.47%, while BMNG has not paid dividends to shareholders.

Position	TTM	2025
BMNG Leverage Shares 2X Long BMNR Daily ETF	0.00%	0.00%
LMTL Direxion Daily LMT Bull 2X ETF	3.47%	3.18%

Frequently Asked Questions

Can I hold both LMTL and BMNG in my portfolio?

LMTL and BMNG have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LMTL 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, LMTL or BMNG?

BMNG is cheaper with a 0.75% expense ratio, compared with 1.07% for LMTL.

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

LMTL has the higher dividend yield at 3.47%, compared with 0.00% for BMNG.

What is the main difference between LMTL and BMNG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.07% for LMTL and 0.75% for BMNG.