TECL vs. BNKU

Last updated Jun 13, 2026

TECL (Direxion Daily Technology Bull 3X Shares) and BNKU (MicroSectors U.S. Big Banks Index 3X Leveraged ETNs) are both Leveraged Equities funds - TECL tracks the Technology Select Sector Index (300%) while BNKU tracks the Solactive MicroSectors U.S. Big Banks Index (-300%). Both are passively managed. Over the past year, TECL returned 177.82% vs 111.56% for BNKU. A 0.55 correlation means they provide meaningful diversification when combined. TECL charges 0.91%/yr vs 0.95%/yr for BNKU.

Performance

TECL vs. BNKU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Technology Bull 3X Shares (TECL) 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, TECL achieves a 83.60% return, which is significantly higher than BNKU's 14.86% return.

TECL

• 1D: 2.54%
• 1M: 9.30%
• YTD: 83.60%
• 6M: 83.93%
• 1Y: 177.82%
• 3Y*: 65.24%
• 5Y*: 36.48%
• 10Y*: 51.70%

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)

TECL vs. BNKU - Yearly Performance Comparison

	2026 (YTD)	2025
TECL Direxion Daily Technology Bull 3X Shares	83.60%	27.44%
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	14.86%	34.97%

Correlation

The correlation between TECL and BNKU is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.55

The correlation between TECL and BNKU shifts across timeframes, from 0.44 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.

TECL vs. BNKU - Sectors Allocation Comparison

Sectors	TECL	BNKU
Technology	20.6%	-
Energy	0.0%	-
Industrials	0.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	100.0%
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

TECL vs. BNKU — Risk / Return Rank

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

TECL

TECL Risk / Return Rank: 76
TECL Sharpe Ratio Rank: 90
TECL Sortino Ratio Rank: 69
TECL Omega Ratio Rank: 71
TECL Calmar Ratio Rank: 83
TECL Martin Ratio Rank: 67

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.

TECL vs. BNKU - Risk-Adjusted Trends Comparison

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

	TECL	BNKU	Difference
Sharpe ratio: Return per unit of total volatility	2.66	1.94	+0.71
Sortino ratio: Return per unit of downside risk	2.69	2.30	+0.39
Omega ratio: Gain probability vs. loss probability	1.36	1.30	+0.06
Calmar ratio: Return relative to maximum drawdown	3.84	2.74	+1.10
Martin ratio: Return relative to average drawdown	10.73	7.20	+3.53

TECL vs. BNKU - Sharpe Ratio Comparison

The current TECL Sharpe Ratio is 2.66, which is higher than the BNKU Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of TECL 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

TECL vs. BNKU - Drawdown Comparison

The maximum TECL drawdown since its inception was -77.96%, which is greater than BNKU's maximum drawdown of -61.21%. Use the drawdown chart below to compare losses from any high point for TECL and BNKU.

Drawdown Indicators

	TECL	BNKU	Difference
Max Drawdown Largest peak-to-trough decline	-77.96%	-61.21%	-16.75%
Max Drawdown (1Y) Largest decline over 1 year	-46.58%	-40.97%	-5.61%
Max Drawdown (3Y) Largest decline over 3 years	-66.58%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-77.96%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-77.96%	—	—
Current Drawdown Current decline from peak	-21.15%	-2.63%	-18.52%
Average Drawdown Average peak-to-trough decline	-18.38%	-18.05%	-0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.64%	15.55%	+1.09%

Volatility

TECL vs. BNKU - Volatility Comparison

Direxion Daily Technology Bull 3X Shares (TECL) has a higher volatility of 33.55% compared to MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) at 15.55%. This indicates that TECL'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

	TECL	BNKU	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.55%	15.55%	+18.00%
Volatility (6M) Calculated over the trailing 6-month period	57.14%	45.72%	+11.42%
Volatility (1Y) Calculated over the trailing 1-year period	67.39%	57.72%	+9.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.94%	73.10%	+1.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.79%	73.10%	-0.31%

TECL vs. BNKU - Expense Ratio Comparison

TECL has a 0.91% expense ratio, which is lower than BNKU's 0.95% expense ratio.

Dividends

TECL vs. BNKU - Dividend Comparison

TECL's dividend yield for the trailing twelve months is around 3.87%, while BNKU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
TECL Direxion Daily Technology Bull 3X Shares	3.87%	7.19%	0.29%	0.28%	0.22%	0.32%	0.52%	0.25%	0.47%	0.10%

Frequently Asked Questions

Can I hold both TECL and BNKU in my portfolio?

TECL and BNKU have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TECL or BNKU?

TECL has higher volatility (33.55%) compared to BNKU (15.55%). In terms of maximum drawdown, TECL dropped -77.96% vs BNKU's -61.21%.

Which ETF is better, TECL or BNKU?

On 1-year performance, TECL leads with 177.82% vs 111.56% for BNKU. On fees, TECL is cheaper at 0.91% 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, TECL or BNKU?

Over the 1-year period, TECL has performed better with a 177.82% return vs 111.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TECL or BNKU?

TECL is cheaper with a 0.91% expense ratio, compared with 0.95% for BNKU.

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

TECL has the higher dividend yield at 3.87%, compared with 0.00% for BNKU.

What is the main difference between TECL and BNKU?

TECL tracks Technology Select Sector 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: 0.91% for TECL and 0.95% for BNKU.

Which has better risk-adjusted returns?

TECL currently has the higher Sharpe Ratio (2.66 vs 1.94), 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.