RETL vs. BNKU

Last updated Jun 13, 2026

RETL (Direxion Daily Retail Bull 3X Shares) and BNKU (MicroSectors U.S. Big Banks Index 3X Leveraged ETNs) are both Leveraged Equities funds - RETL tracks the Russell 1000 Retail Index (300%) while BNKU tracks the Solactive MicroSectors U.S. Big Banks Index (-300%). Both are passively managed. Over the past year, RETL returned 19.94% vs 111.56% for BNKU. A 0.59 correlation means they provide meaningful diversification when combined. RETL charges 0.99%/yr vs 0.95%/yr for BNKU.

Performance

RETL vs. BNKU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Retail Bull 3X Shares (RETL) 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, RETL achieves a -0.70% return, which is significantly lower than BNKU's 14.86% return.

RETL

• 1D: 0.11%
• 1M: 30.06%
• YTD: -0.70%
• 6M: -9.36%
• 1Y: 19.94%
• 3Y*: 10.78%
• 5Y*: -27.38%
• 10Y*: -3.60%

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)

RETL vs. BNKU - Yearly Performance Comparison

	2026 (YTD)	2025
RETL Direxion Daily Retail Bull 3X Shares	-0.70%	-0.54%
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	14.86%	34.97%

Correlation

The correlation between RETL and BNKU is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.59

The correlation between RETL and BNKU has been stable across timeframes, ranging from 0.52 to 0.59 - a consistent structural relationship.

RETL vs. BNKU - Sectors Allocation Comparison

Sectors	RETL	BNKU
Consumer Cyclical	14.0%	-
Consumer Defensive	3.9%	-
Communication Services	0.3%	-
Technology	0.3%	-
Healthcare	0.3%	-
Energy	0.3%	-
Basic Materials	-	-
Financial Services	-	100.0%
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

RETL vs. BNKU — Risk / Return Rank

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

RETL

RETL Risk / Return Rank: 17
RETL Sharpe Ratio Rank: 15
RETL Sortino Ratio Rank: 19
RETL Omega Ratio Rank: 18
RETL Calmar Ratio Rank: 16
RETL Martin Ratio Rank: 15

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.

RETL vs. BNKU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Retail Bull 3X Shares (RETL) 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.

	RETL	BNKU	Difference
Sharpe ratio: Return per unit of total volatility	0.33	1.94	-1.61
Sortino ratio: Return per unit of downside risk	0.92	2.30	-1.38
Omega ratio: Gain probability vs. loss probability	1.10	1.30	-0.20
Calmar ratio: Return relative to maximum drawdown	0.53	2.74	-2.21
Martin ratio: Return relative to average drawdown	1.08	7.20	-6.13

RETL vs. BNKU - Sharpe Ratio Comparison

The current RETL Sharpe Ratio is 0.33, which is lower than the BNKU Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of RETL 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

RETL vs. BNKU - Drawdown Comparison

The maximum RETL drawdown since its inception was -92.00%, which is greater than BNKU's maximum drawdown of -61.21%. Use the drawdown chart below to compare losses from any high point for RETL and BNKU.

Drawdown Indicators

	RETL	BNKU	Difference
Max Drawdown Largest peak-to-trough decline	-92.00%	-61.21%	-30.79%
Max Drawdown (1Y) Largest decline over 1 year	-38.08%	-40.97%	+2.89%
Max Drawdown (3Y) Largest decline over 3 years	-62.72%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-92.00%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-92.00%	—	—
Current Drawdown Current decline from peak	-82.95%	-2.63%	-80.32%
Average Drawdown Average peak-to-trough decline	-37.62%	-18.05%	-19.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.57%	15.55%	+3.02%

Volatility

RETL vs. BNKU - Volatility Comparison

Direxion Daily Retail Bull 3X Shares (RETL) has a higher volatility of 16.60% compared to MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) at 15.55%. This indicates that RETL'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

	RETL	BNKU	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.60%	15.55%	+1.05%
Volatility (6M) Calculated over the trailing 6-month period	40.99%	45.72%	-4.73%
Volatility (1Y) Calculated over the trailing 1-year period	60.71%	57.72%	+2.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	79.51%	73.10%	+6.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.80%	73.10%	+6.70%

RETL vs. BNKU - Expense Ratio Comparison

RETL has a 0.99% expense ratio, which is higher than BNKU's 0.95% expense ratio.

Dividends

RETL vs. BNKU - Dividend Comparison

RETL's dividend yield for the trailing twelve months is around 0.51%, while BNKU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RETL Direxion Daily Retail Bull 3X Shares	0.51%	0.58%	1.13%	1.35%	0.71%	0.22%	0.19%	0.92%	1.19%	0.01%	2.60%

Frequently Asked Questions

Can I hold both RETL and BNKU in my portfolio?

RETL and BNKU have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RETL or BNKU?

RETL has higher volatility (16.60%) compared to BNKU (15.55%). In terms of maximum drawdown, RETL dropped -92.00% vs BNKU's -61.21%.

Which ETF is better, RETL or BNKU?

On 1-year performance, BNKU leads with 111.56% vs 19.94% for RETL. On fees, BNKU is cheaper at 0.95% per year. 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, RETL or BNKU?

Over the 1-year period, BNKU has performed better with a 111.56% return vs 19.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RETL or BNKU?

BNKU is cheaper with a 0.95% expense ratio, compared with 0.99% for RETL.

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

RETL has the higher dividend yield at 0.51%, compared with 0.00% for BNKU.

What is the main difference between RETL and BNKU?

RETL tracks Russell 1000 Retail Index (300%), while BNKU tracks Solactive MicroSectors U.S. Big Banks Index (-300%). They also come from different issuers: Direxion and Bank of Montreal. Their fees differ too: 0.99% for RETL and 0.95% for BNKU.

Which has better risk-adjusted returns?

BNKU currently has the higher Sharpe Ratio (1.94 vs 0.33), 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.