VTIP vs. BNKU

Last updated Jul 17, 2026

VTIP (Vanguard Short-Term Inflation-Protected Securities ETF) and BNKU (MicroSectors U.S. Big Banks Index 3X Leveraged ETNs) are both exchange-traded funds - VTIP is a Inflation-Protected Bonds fund tracking the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index, while BNKU is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Banks Index (-300%). Both are passively managed. Over the past year, VTIP returned 3.42% vs 103.74% for BNKU. At a correlation of -0.13, they often move in opposite directions. VTIP charges 0.03%/yr vs 0.95%/yr for BNKU.

Performance

VTIP vs. BNKU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) 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, VTIP achieves a 1.77% return, which is significantly lower than BNKU's 34.54% return.

VTIP

• 1D: 0.00%
• 1M: -0.03%
• 6M: 1.73%
• YTD: 1.77%
• 1Y: 3.42%
• 3Y*: 5.10%
• 5Y*: 3.18%
• 10Y*: 3.06%

BNKU

• 1D: -3.89%
• 1M: 11.65%
• 6M: 28.33%
• YTD: 34.54%
• 1Y: 103.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VTIP vs. BNKU - Yearly Performance Comparison

	2026 (YTD)	2025
VTIP Vanguard Short-Term Inflation-Protected Securities ETF	1.77%	4.66%
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	34.54%	34.97%

Correlation

The correlation between VTIP and BNKU is -0.11, 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	-0.11
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	-0.13

Return for Risk

VTIP vs. BNKU — Risk / Return Rank

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

VTIP

VTIP Risk / Return Rank: 89
VTIP Sharpe Ratio Rank: 85
VTIP Sortino Ratio Rank: 90
VTIP Omega Ratio Rank: 89
VTIP Calmar Ratio Rank: 92
VTIP Martin Ratio Rank: 89

BNKU

BNKU Risk / Return Rank: 59
BNKU Sharpe Ratio Rank: 69
BNKU Sortino Ratio Rank: 56
BNKU Omega Ratio Rank: 56
BNKU Calmar Ratio Rank: 63
BNKU Martin Ratio Rank: 50

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.

VTIP vs. BNKU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) 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.

	VTIP	BNKU	Difference
Sharpe ratio: Return per unit of total volatility	2.20	1.78	+0.42
Sortino ratio: Return per unit of downside risk	3.43	2.19	+1.24
Omega ratio: Gain probability vs. loss probability	1.45	1.28	+0.17
Calmar ratio: Return relative to maximum drawdown	4.81	2.55	+2.27
Martin ratio: Return relative to average drawdown	15.42	6.70	+8.72

VTIP vs. BNKU - Sharpe Ratio Comparison

The current VTIP Sharpe Ratio is 2.20, which is comparable to the BNKU Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of VTIP 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

VTIP vs. BNKU - Drawdown Comparison

The maximum VTIP drawdown since its inception was -6.27%, smaller than the maximum BNKU drawdown of -61.21%. Use the drawdown chart below to compare losses from any high point for VTIP and BNKU.

Drawdown Indicators

	VTIP	BNKU	Difference
Max Drawdown Largest peak-to-trough decline	-6.27%	-61.21%	+54.94%
Max Drawdown (1Y) Largest decline over 1 year	-0.71%	-40.97%	+40.26%
Max Drawdown (3Y) Largest decline over 3 years	-0.98%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-5.50%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-6.27%	—	—
Current Drawdown Current decline from peak	-0.29%	-3.89%	+3.60%
Average Drawdown Average peak-to-trough decline	-1.03%	-17.06%	+16.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.22%	15.55%	-15.33%

Volatility

VTIP vs. BNKU - Volatility Comparison

The current volatility for Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) is 0.63%, while MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) has a volatility of 17.67%. This indicates that VTIP experiences smaller price fluctuations and is considered to be less risky than BNKU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTIP	BNKU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.63%	17.67%	-17.04%
Volatility (6M) Calculated over the trailing 6-month period	1.20%	46.40%	-45.20%
Volatility (1Y) Calculated over the trailing 1-year period	1.57%	58.70%	-57.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.77%	72.33%	-69.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.74%	72.33%	-69.59%

VTIP vs. BNKU - Expense Ratio Comparison

VTIP has a 0.03% expense ratio, which is lower than BNKU's 0.95% expense ratio.

Dividends

VTIP vs. BNKU - Dividend Comparison

VTIP's dividend yield for the trailing twelve months is around 4.16%, 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%
VTIP Vanguard Short-Term Inflation-Protected Securities ETF	4.16%	3.81%	2.70%	2.86%	6.84%	4.68%	1.20%	1.95%	2.45%	1.52%	0.76%

Frequently Asked Questions

Can I hold both VTIP and BNKU in my portfolio?

VTIP and BNKU have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTIP or BNKU?

BNKU has higher volatility (17.67%) compared to VTIP (0.63%). In terms of maximum drawdown, VTIP dropped -6.27% vs BNKU's -61.21%.

Which ETF is better, VTIP or BNKU?

On 1-year performance, BNKU leads with 103.74% vs 3.42% for VTIP. On fees, VTIP is cheaper at 0.03% per year. On volatility, VTIP has been the lower-risk option at 0.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VTIP or BNKU?

Over the 1-year period, BNKU has performed better with a 103.74% return vs 3.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VTIP or BNKU?

VTIP is cheaper with a 0.03% expense ratio, compared with 0.95% for BNKU.

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

VTIP has the higher dividend yield at 4.16%, compared with 0.00% for BNKU.

What is the main difference between VTIP and BNKU?

VTIP is categorized as Inflation-Protected Bonds, while BNKU is Leveraged Equities. VTIP tracks Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index, while BNKU tracks Solactive MicroSectors U.S. Big Banks Index (-300%). They also come from different issuers: Vanguard and Bank of Montreal. Their fees differ too: 0.03% for VTIP and 0.95% for BNKU.

Which has better risk-adjusted returns?

VTIP currently has the higher Sharpe Ratio (2.20 vs 1.78), 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.