VLLU vs. BNKD

Last updated Jun 3, 2026

VLLU (Harbor AlphaEdge Large Cap Value ETF) and BNKD (MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs) are both exchange-traded funds - VLLU is a Large Cap Value Equities fund tracking the Harbor AlphaEdge Large Cap Value Index, while BNKD is a Inverse Equities fund tracking the Solactive MicroSectors U.S. Big Banks Index (-300%). Both are passively managed. Over the past year, VLLU returned 26.23% vs -67.73% for BNKD. At a correlation of -0.78, they often move in opposite directions. VLLU charges 0.25%/yr vs 0.95%/yr for BNKD.

Performance

VLLU vs. BNKD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor AlphaEdge Large Cap Value ETF (VLLU) and MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs (BNKD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VLLU achieves a 11.14% return, which is significantly higher than BNKD's -22.76% return.

VLLU

• 1D: 0.59%
• 1M: 5.60%
• YTD: 11.14%
• 6M: 14.80%
• 1Y: 26.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNKD

• 1D: -4.44%
• 1M: -7.75%
• YTD: -22.76%
• 6M: -37.81%
• 1Y: -67.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VLLU vs. BNKD - Yearly Performance Comparison

	2026 (YTD)	2025
VLLU Harbor AlphaEdge Large Cap Value ETF	11.14%	11.57%
BNKD MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs	-22.76%	-62.08%

Correlation

The correlation between VLLU and BNKD is -0.76, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.76
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	-0.78

The correlation between VLLU and BNKD has been stable across timeframes, ranging from -0.78 to -0.76 - a consistent structural relationship.

VLLU vs. BNKD - Sectors Allocation Comparison

Sectors	VLLU	BNKD
Financial Services	27.0%	100.0%
Technology	23.8%	-
Healthcare	13.6%	-
Energy	9.4%	-
Industrials	7.3%	-
Communication Services	6.3%	-
Consumer Defensive	4.9%	-
Consumer Cyclical	4.8%	-
Basic Materials	3.0%	-
Real Estate	-	-
Utilities	-	-

Return for Risk

VLLU vs. BNKD — Risk / Return Rank

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

VLLU

VLLU Risk / Return Rank: 74
VLLU Sharpe Ratio Rank: 71
VLLU Sortino Ratio Rank: 76
VLLU Omega Ratio Rank: 68
VLLU Calmar Ratio Rank: 80
VLLU Martin Ratio Rank: 78

BNKD

BNKD Risk / Return Rank: 1
BNKD Sharpe Ratio Rank: 1
BNKD Sortino Ratio Rank: 0
BNKD Omega Ratio Rank: 0
BNKD Calmar Ratio Rank: 0
BNKD Martin Ratio Rank: 2

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.

VLLU vs. BNKD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor AlphaEdge Large Cap Value ETF (VLLU) and MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs (BNKD). 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.

	VLLU	BNKD	Difference
Sharpe ratio Return per unit of total volatility	2.39	-1.19	+3.58
Sortino ratio Return per unit of downside risk	3.48	-2.33	+5.82
Omega ratio Gain probability vs. loss probability	1.42	0.76	+0.66
Calmar ratio Return relative to maximum drawdown	4.20	-1.00	+5.20
Martin ratio Return relative to average drawdown	15.41	-1.38	+16.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VLLU vs. BNKD - Sharpe Ratio Comparison

The current VLLU Sharpe Ratio is 2.39, which is higher than the BNKD Sharpe Ratio of -1.19. The chart below compares the historical Sharpe Ratios of VLLU and BNKD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VLLU	BNKD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	-1.19	+3.58
Sharpe Ratio (All Time) Calculated using the full available price history	1.24	-0.83	+2.08

Drawdowns

VLLU vs. BNKD - Drawdown Comparison

The maximum VLLU drawdown since its inception was -16.62%, smaller than the maximum BNKD drawdown of -84.82%. Use the drawdown chart below to compare losses from any high point for VLLU and BNKD.

Drawdown Indicators

	VLLU	BNKD	Difference
Max Drawdown Largest peak-to-trough decline	-16.62%	-84.82%	+68.20%
Max Drawdown (1Y) Largest decline over 1 year	-6.33%	-67.85%	+61.52%
Current Drawdown Current decline from peak	0.00%	-84.82%	+84.82%
Average Drawdown Average peak-to-trough decline	-2.45%	-63.95%	+61.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	49.12%	-47.39%

Volatility

VLLU vs. BNKD - Volatility Comparison

The current volatility for Harbor AlphaEdge Large Cap Value ETF (VLLU) is 3.66%, while MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs (BNKD) has a volatility of 15.02%. This indicates that VLLU experiences smaller price fluctuations and is considered to be less risky than BNKD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VLLU	BNKD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.66%	15.02%	-11.36%
Volatility (6M) Calculated over the trailing 6-month period	8.21%	45.28%	-37.07%
Volatility (1Y) Calculated over the trailing 1-year period	11.01%	57.26%	-46.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.86%	74.21%	-59.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.86%	74.21%	-59.35%

VLLU vs. BNKD - Expense Ratio Comparison

VLLU has a 0.25% expense ratio, which is lower than BNKD's 0.95% expense ratio.

Dividends

VLLU vs. BNKD - Dividend Comparison

VLLU's dividend yield for the trailing twelve months is around 1.37%, while BNKD has not paid dividends to shareholders.

Position	TTM	2025	2024
BNKD MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs	0.00%	0.00%	0.00%
VLLU Harbor AlphaEdge Large Cap Value ETF	1.37%	1.52%	0.90%

Frequently Asked Questions

Can I hold both VLLU and BNKD in my portfolio?

VLLU and BNKD have a correlation of -0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VLLU or BNKD?

BNKD has higher volatility (15.02%) compared to VLLU (3.66%). In terms of maximum drawdown, VLLU dropped -16.62% vs BNKD's -84.82%.

Which ETF is better, VLLU or BNKD?

On 1-year performance, VLLU leads with 26.23% vs -67.73% for BNKD. On fees, VLLU is cheaper at 0.25% per year. On volatility, VLLU has been the lower-risk option at 3.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VLLU or BNKD?

Over the 1-year period, VLLU has performed better with a 26.23% return vs -67.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VLLU or BNKD?

VLLU is cheaper with a 0.25% expense ratio, compared with 0.95% for BNKD.

Which ETF pays a higher dividend yield, VLLU or BNKD?

VLLU has the higher dividend yield at 1.37%, compared with 0.00% for BNKD.

What is the main difference between VLLU and BNKD?

VLLU is categorized as Large Cap Value Equities, while BNKD is Inverse Equities. VLLU tracks Harbor AlphaEdge Large Cap Value Index, while BNKD tracks Solactive MicroSectors U.S. Big Banks Index (-300%). They also come from different issuers: Harbor and REX. Their fees differ too: 0.25% for VLLU and 0.95% for BNKD.

Which has better risk-adjusted returns?

VLLU currently has the higher Sharpe Ratio (2.39 vs -1.19), 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.