OKLS vs. BMNZ

Last updated Jun 27, 2026

OKLS (Defiance Daily Target 2X Short OKLO ETF) and BMNZ (Defiance Daily Target 2X Short BMNR ETF) are both Inverse Equities funds from Defiance. OKLS is actively managed, while BMNZ is passively managed. A 0.64 correlation means they provide meaningful diversification when combined. Both charge a 1.31% expense ratio.

Performance

OKLS vs. BMNZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Short OKLO ETF (OKLS) and Defiance Daily Target 2X Short BMNR ETF (BMNZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OKLS achieves a -57.45% return, which is significantly lower than BMNZ's 25.58% return.

OKLS

• 1D: 3.84%
• 1M: 50.03%
• YTD: -57.45%
• 6M: -51.50%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BMNZ

• 1D: -3.38%
• 1M: 63.31%
• YTD: 25.58%
• 6M: 35.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OKLS vs. BMNZ - Yearly Performance Comparison

	2026 (YTD)	2025
OKLS Defiance Daily Target 2X Short OKLO ETF	-57.45%	12.18%
BMNZ Defiance Daily Target 2X Short BMNR ETF	25.58%	-18.27%

Correlation

The correlation between OKLS and BMNZ is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 26, 2025	0.64

Return for Risk

OKLS vs. BMNZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short OKLO ETF (OKLS) and Defiance Daily Target 2X Short BMNR ETF (BMNZ). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

OKLS vs. BMNZ - Drawdown Comparison

The maximum OKLS drawdown since its inception was -81.03%, which is greater than BMNZ's maximum drawdown of -70.80%. Use the drawdown chart below to compare losses from any high point for OKLS and BMNZ.

Drawdown Indicators

	OKLS	BMNZ	Difference
Max Drawdown Largest peak-to-trough decline	-81.03%	-70.80%	-10.23%
Current Drawdown Current decline from peak	-65.31%	-29.69%	-35.62%
Average Drawdown Average peak-to-trough decline	-42.29%	-50.51%	+8.22%

Volatility

Volatility by Period

	OKLS	BMNZ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	195.27%	186.51%	+8.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	195.27%	186.51%	+8.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	195.27%	186.51%	+8.76%

OKLS vs. BMNZ - Expense Ratio Comparison

Both OKLS and BMNZ have an expense ratio of 1.31%.

Dividends

OKLS vs. BMNZ - Dividend Comparison

Neither OKLS nor BMNZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both OKLS and BMNZ in my portfolio?

OKLS and BMNZ have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OKLS or BMNZ?

Both ETFs have the same 1.31% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OKLS or BMNZ?

OKLS and BMNZ have the same expense ratio: 1.31% per year.

Which ETF pays a higher dividend yield, OKLS or BMNZ?

OKLS and BMNZ have nearly identical dividend yields, around 0.00%.