TBXU vs. BMNG

Last updated Jul 12, 2026

TBXU (Direxion Daily Biotech Top 5 Bull 2X ETF) and BMNG (Leverage Shares 2X Long BMNR Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.15 correlation, their price movements are largely independent. TBXU charges 0.98%/yr vs 0.75%/yr for BMNG.

Performance

TBXU vs. BMNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Biotech Top 5 Bull 2X ETF (TBXU) and Leverage Shares 2X Long BMNR Daily ETF (BMNG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TBXU achieves a 4.27% return, which is significantly higher than BMNG's -82.31% return.

TBXU

• 1D: -4.09%
• 1M: 7.73%
• 6M: 5.69%
• YTD: 4.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BMNG

• 1D: 3.88%
• 1M: -22.57%
• 6M: -85.04%
• YTD: -82.31%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TBXU vs. BMNG - Yearly Performance Comparison

	2026 (YTD)	2025
TBXU Direxion Daily Biotech Top 5 Bull 2X ETF	4.27%	15.32%
BMNG Leverage Shares 2X Long BMNR Daily ETF	-82.31%	-80.50%

Correlation

The correlation between TBXU and BMNG is 0.15, 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 27, 2025	0.15

Return for Risk

TBXU vs. BMNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Biotech Top 5 Bull 2X ETF (TBXU) 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.

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

TBXU vs. BMNG - Drawdown Comparison

The maximum TBXU drawdown since its inception was -26.53%, smaller than the maximum BMNG drawdown of -97.32%. Use the drawdown chart below to compare losses from any high point for TBXU and BMNG.

Drawdown Indicators

	TBXU	BMNG	Difference
Max Drawdown Largest peak-to-trough decline	-26.53%	-97.32%	+70.79%
Current Drawdown Current decline from peak	-12.54%	-96.70%	+84.16%
Average Drawdown Average peak-to-trough decline	-9.53%	-83.05%	+73.52%

Volatility

Volatility by Period

	TBXU	BMNG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	42.42%	186.37%	-143.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.42%	186.37%	-143.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.42%	186.37%	-143.95%

TBXU vs. BMNG - Expense Ratio Comparison

TBXU has a 0.98% expense ratio, which is higher than BMNG's 0.75% expense ratio.

Dividends

TBXU vs. BMNG - Dividend Comparison

TBXU's dividend yield for the trailing twelve months is around 1.94%, while BMNG has not paid dividends to shareholders.

Position	TTM	2025
BMNG Leverage Shares 2X Long BMNR Daily ETF	0.00%	0.00%
TBXU Direxion Daily Biotech Top 5 Bull 2X ETF	1.94%	1.33%

Frequently Asked Questions

Can I hold both TBXU and BMNG in my portfolio?

TBXU and BMNG have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TBXU or BMNG?

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.

Which ETF is cheaper, TBXU or BMNG?

BMNG is cheaper with a 0.75% expense ratio, compared with 0.98% for TBXU.

Which ETF pays a higher dividend yield, TBXU or BMNG?

TBXU has the higher dividend yield at 1.94%, compared with 0.00% for BMNG.

What is the main difference between TBXU and BMNG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 0.98% for TBXU and 0.75% for BMNG.