RKLZ vs. BMNZ

Last updated Jun 26, 2026

RKLZ (Defiance Daily Target 2X Short RKLB ETF) and BMNZ (Defiance Daily Target 2X Short BMNR ETF) are both Inverse Equities funds from Defiance. RKLZ is actively managed, while BMNZ is passively managed. A 0.56 correlation means they provide meaningful diversification when combined. RKLZ charges 1.29%/yr vs 1.31%/yr for BMNZ.

Performance

RKLZ vs. BMNZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Short RKLB ETF (RKLZ) 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, RKLZ achieves a -89.18% return, which is significantly lower than BMNZ's 29.97% return.

RKLZ

• 1D: 10.97%
• 1M: 137.97%
• YTD: -89.18%
• 6M: -87.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BMNZ

• 1D: 9.79%
• 1M: 76.32%
• YTD: 29.97%
• 6M: 50.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RKLZ vs. BMNZ - Yearly Performance Comparison

	2026 (YTD)	2025
RKLZ Defiance Daily Target 2X Short RKLB ETF	-89.18%	-75.89%
BMNZ Defiance Daily Target 2X Short BMNR ETF	29.97%	-25.65%

Correlation

The correlation between RKLZ and BMNZ is 0.56, 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 18, 2025	0.56

Return for Risk

RKLZ vs. BMNZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short RKLB ETF (RKLZ) 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

RKLZ vs. BMNZ - Drawdown Comparison

The maximum RKLZ drawdown since its inception was -99.10%, which is greater than BMNZ's maximum drawdown of -70.80%. Use the drawdown chart below to compare losses from any high point for RKLZ and BMNZ.

Drawdown Indicators

	RKLZ	BMNZ	Difference
Max Drawdown Largest peak-to-trough decline	-99.10%	-70.80%	-28.30%
Current Drawdown Current decline from peak	-97.63%	-27.23%	-70.40%
Average Drawdown Average peak-to-trough decline	-81.58%	-50.65%	-30.93%

Volatility

Volatility by Period

	RKLZ	BMNZ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	207.29%	187.04%	+20.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	207.29%	187.04%	+20.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	207.29%	187.04%	+20.25%

RKLZ vs. BMNZ - Expense Ratio Comparison

RKLZ has a 1.29% expense ratio, which is lower than BMNZ's 1.31% expense ratio.

Dividends

RKLZ vs. BMNZ - Dividend Comparison

Neither RKLZ nor BMNZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both RKLZ and BMNZ in my portfolio?

RKLZ and BMNZ have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RKLZ or BMNZ?

On fees, RKLZ is cheaper at 1.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RKLZ or BMNZ?

RKLZ is cheaper with a 1.29% expense ratio, compared with 1.31% for BMNZ.

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

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

What is the main difference between RKLZ and BMNZ?

Their fees differ too: 1.29% for RKLZ and 1.31% for BMNZ.