NOWL vs. BMNG
NOWL (GraniteShares 2x Long NOW Daily ETF) and BMNG (Leverage Shares 2X Long BMNR Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.14 correlation, their price movements are largely independent. NOWL charges 1.50%/yr vs 0.75%/yr for BMNG.
Performance
NOWL vs. BMNG - Performance Comparison
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Returns By Period
In the year-to-date period, NOWL achieves a -59.43% return, which is significantly higher than BMNG's -78.43% return.
NOWL
- 1D
- -11.84%
- 1M
- 48.59%
- YTD
- -59.43%
- 6M
- -68.75%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BMNG
- 1D
- -22.44%
- 1M
- -55.66%
- YTD
- -78.43%
- 6M
- -87.34%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NOWL vs. BMNG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NOWL GraniteShares 2x Long NOW Daily ETF | -59.43% | -38.17% |
BMNG Leverage Shares 2X Long BMNR Daily ETF | -78.43% | -81.37% |
Correlation
The correlation between NOWL and BMNG is 0.14, 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 | 0.14 |
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Return for Risk
NOWL vs. BMNG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long NOW Daily ETF (NOWL) 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.
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Sharpe Ratios by Period
| NOWL | BMNG | Difference | |
|---|---|---|---|
Sharpe Ratio (All Time)Calculated using the full available price history | -0.78 | -0.52 | -0.26 |
Drawdowns
NOWL vs. BMNG - Drawdown Comparison
The maximum NOWL drawdown since its inception was -86.57%, smaller than the maximum BMNG drawdown of -95.98%. Use the drawdown chart below to compare losses from any high point for NOWL and BMNG.
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Drawdown Indicators
| NOWL | BMNG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.57% | -95.98% | +9.41% |
Current DrawdownCurrent decline from peak | -78.38% | -95.98% | +17.60% |
Average DrawdownAverage peak-to-trough decline | -47.79% | -81.57% | +33.78% |
Volatility
NOWL vs. BMNG - Volatility Comparison
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Volatility by Period
| NOWL | BMNG | Difference | |
|---|---|---|---|
Volatility (1Y)Calculated over the trailing 1-year period | 103.63% | 193.00% | -89.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 103.63% | 193.00% | -89.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 103.63% | 193.00% | -89.37% |
NOWL vs. BMNG - Expense Ratio Comparison
NOWL has a 1.50% expense ratio, which is higher than BMNG's 0.75% expense ratio.
Dividends
NOWL vs. BMNG - Dividend Comparison
Neither NOWL nor BMNG has paid dividends to shareholders.
Frequently Asked Questions
NOWL and BMNG have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
BMNG is cheaper with a 0.75% expense ratio, compared with 1.50% for NOWL.
NOWL and BMNG have nearly identical dividend yields, around 0.00%.
They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.50% for NOWL and 0.75% for BMNG.
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