PLTD vs. BMNZ

Last updated Jun 25, 2026

PLTD (Direxion Daily PLTR Bear 1X Shares) and BMNZ (Defiance Daily Target 2X Short BMNR ETF) are both Inverse Equities funds - PLTD tracks the Palantir Technologies Inc. (-100%) while BMNZ tracks the BitMine Immersion Technologies, Inc.. Both are passively managed. At a 0.42 correlation, their price movements are largely independent. PLTD charges 0.98%/yr vs 1.31%/yr for BMNZ.

Performance

PLTD vs. BMNZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily PLTR Bear 1X Shares (PLTD) 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, PLTD achieves a 40.92% return, which is significantly higher than BMNZ's 18.38% return.

PLTD

• 1D: 3.03%
• 1M: 17.18%
• YTD: 40.92%
• 6M: 54.26%
• 1Y: 5.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BMNZ

• 1D: 14.03%
• 1M: 53.95%
• YTD: 18.38%
• 6M: 37.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PLTD vs. BMNZ - Yearly Performance Comparison

	2026 (YTD)	2025
PLTD Direxion Daily PLTR Bear 1X Shares	40.92%	2.37%
BMNZ Defiance Daily Target 2X Short BMNR ETF	18.38%	15.30%

Correlation

The correlation between PLTD and BMNZ is 0.42, 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 Nov 13, 2025	0.42

Return for Risk

PLTD vs. BMNZ — Risk / Return Rank

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

PLTD

PLTD Risk / Return Rank: 11
PLTD Sharpe Ratio Rank: 10
PLTD Sortino Ratio Rank: 12
PLTD Omega Ratio Rank: 12
PLTD Calmar Ratio Rank: 11
PLTD Martin Ratio Rank: 10

BMNZ

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

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.

PLTD vs. BMNZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily PLTR Bear 1X Shares (PLTD) 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.

	PLTD	BMNZ	Difference
Sharpe ratio: Return per unit of total volatility	0.10	—	—
Sortino ratio: Return per unit of downside risk	0.54	—	—
Omega ratio: Gain probability vs. loss probability	1.06	—	—
Calmar ratio: Return relative to maximum drawdown	0.14	—	—
Martin ratio: Return relative to average drawdown	0.22	—	—

Drawdowns

PLTD vs. BMNZ - Drawdown Comparison

The maximum PLTD drawdown since its inception was -77.34%, which is greater than BMNZ's maximum drawdown of -70.80%. Use the drawdown chart below to compare losses from any high point for PLTD and BMNZ.

Drawdown Indicators

	PLTD	BMNZ	Difference
Max Drawdown Largest peak-to-trough decline	-77.34%	-70.80%	-6.54%
Max Drawdown (1Y) Largest decline over 1 year	-39.15%	—	—
Current Drawdown Current decline from peak	-63.91%	-33.72%	-30.19%
Average Drawdown Average peak-to-trough decline	-59.60%	-50.81%	-8.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.83%	—	—

Volatility

Volatility by Period

	PLTD	BMNZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.73%	—	—
Volatility (6M) Calculated over the trailing 6-month period	38.05%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	51.69%	187.31%	-135.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.24%	187.31%	-124.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.24%	187.31%	-124.07%

PLTD vs. BMNZ - Expense Ratio Comparison

PLTD has a 0.98% expense ratio, which is lower than BMNZ's 1.31% expense ratio.

Dividends

PLTD vs. BMNZ - Dividend Comparison

PLTD's dividend yield for the trailing twelve months is around 2.49%, while BMNZ has not paid dividends to shareholders.

Position	TTM	2025
BMNZ Defiance Daily Target 2X Short BMNR ETF	0.00%	0.00%
PLTD Direxion Daily PLTR Bear 1X Shares	2.49%	5.17%

Frequently Asked Questions

Can I hold both PLTD and BMNZ in my portfolio?

PLTD and BMNZ have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PLTD or BMNZ?

On fees, PLTD is cheaper at 0.98% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PLTD or BMNZ?

PLTD is cheaper with a 0.98% expense ratio, compared with 1.31% for BMNZ.

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

PLTD has the higher dividend yield at 2.49%, compared with 0.00% for BMNZ.

What is the main difference between PLTD and BMNZ?

PLTD tracks Palantir Technologies Inc. (-100%), while BMNZ tracks BitMine Immersion Technologies, Inc.. They also come from different issuers: Direxion and Defiance. Their fees differ too: 0.98% for PLTD and 1.31% for BMNZ.