YCL vs. BNKU

Last updated Aug 2, 2026

YCL (ProShares Ultra Yen) and BNKU (MicroSectors U.S. Big Banks Index 3X Leveraged ETNs) are both exchange-traded funds - YCL is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%), 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, YCL returned -18.77% vs 97.48% for BNKU. Their -0.06 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.

Performance

YCL vs. BNKU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Yen (YCL) 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, YCL achieves a -5.82% return, which is significantly lower than BNKU's 29.42% return.

YCL

• 1D: 0.22%
• 1M: 1.24%
• 6M: -7.85%
• YTD: -5.82%
• 1Y: -18.77%
• 3Y*: -13.30%
• 5Y*: -19.30%
• 10Y*: -13.42%
• ALL TIME*: -9.77%

BNKU

• 1D: 1.30%
• 1M: 5.51%
• 6M: 25.35%
• YTD: 29.42%
• 1Y: 97.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 47.30%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	$317.79K	$636.80K	$487.95K
YCL ProShares Ultra Yen	$965.32K	$858.06K	$714.31K

YCL vs. BNKU - Yearly Performance Comparison

	2026 (YTD)	2025
YCL ProShares Ultra Yen	-5.82%	-11.84%
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	29.42%	34.97%

Correlation

The correlation between YCL and BNKU is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.08
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	-0.06

The correlation between YCL and BNKU shifts across timeframes, from -0.06 (all time) to 0.08 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

YCL vs. BNKU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

YCL

YCL Risk / Return Rank: 3
YCL Sharpe Ratio Rank: 2
YCL Sortino Ratio Rank: 2
YCL Omega Ratio Rank: 2
YCL Calmar Ratio Rank: 4
YCL Martin Ratio Rank: 4

BNKU

BNKU Risk / Return Rank: 55
BNKU Sharpe Ratio Rank: 60
BNKU Sortino Ratio Rank: 54
BNKU Omega Ratio Rank: 55
BNKU Calmar Ratio Rank: 59
BNKU Martin Ratio Rank: 47

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

YCL vs. BNKU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Yen (YCL) 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.

	YCL	BNKU	Difference
Sharpe ratio: Return per unit of total volatility	-0.91	1.41	-2.32
Sortino ratio: Return per unit of downside risk	-1.40	1.90	-3.29
Omega ratio: Gain probability vs. loss probability	0.85	1.24	-0.40
Calmar ratio: Return relative to maximum drawdown	-0.65	2.05	-2.70
Martin ratio: Return relative to average drawdown	-1.03	5.41	-6.44

YCL vs. BNKU - Sharpe Ratio Comparison

The current YCL Sharpe Ratio is -0.91, which is lower than the BNKU Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of YCL 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

YCL vs. BNKU - Drawdown Comparison

The maximum YCL drawdown since its inception was -88.74%, which is greater than BNKU's maximum drawdown of -61.21%. Use the drawdown chart below to compare losses from any high point for YCL and BNKU.

Drawdown Indicators

	YCL	BNKU	Difference
Max Drawdown Largest peak-to-trough decline	-88.74%	-61.21%	-27.53%
Max Drawdown (1Y) Largest decline over 1 year	-23.28%	-40.97%	+17.69%
Max Drawdown (3Y) Largest decline over 3 years	-39.44%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-67.75%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-77.87%	—	—
Current Drawdown Current decline from peak	-88.15%	-7.55%	-80.60%
Average Drawdown Average peak-to-trough decline	-53.42%	-16.77%	-36.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.60%	15.55%	-0.95%

Volatility

YCL vs. BNKU - Volatility Comparison

The current volatility for ProShares Ultra Yen (YCL) is 5.60%, while MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) has a volatility of 18.44%. This indicates that YCL 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

	YCL	BNKU	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.60%	18.44%	-12.84%
Volatility (6M) Calculated over the trailing 6-month period	11.00%	46.92%	-35.92%
Volatility (1Y) Calculated over the trailing 1-year period	16.66%	59.78%	-43.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.60%	72.00%	-51.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.20%	72.00%	-53.80%

YCL vs. BNKU - Expense Ratio Comparison

Both YCL and BNKU have an expense ratio of 0.95%.

Dividends

YCL vs. BNKU - Dividend Comparison

Neither YCL nor BNKU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both YCL and BNKU in my portfolio?

YCL and BNKU have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YCL or BNKU?

BNKU has higher volatility (18.44%) compared to YCL (5.60%). In terms of maximum drawdown, YCL dropped -88.74% vs BNKU's -61.21%.

Which ETF is better, YCL or BNKU?

On 1-year performance, BNKU leads with 97.48% vs -18.77% for YCL. Both ETFs have the same 0.95% expense ratio. On volatility, YCL has been the lower-risk option at 5.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YCL or BNKU?

Over the 1-year period, BNKU has performed better with a 97.48% return vs -18.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YCL or BNKU?

YCL and BNKU have the same expense ratio: 0.95% per year.

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

YCL and BNKU have nearly identical dividend yields, around 0.00%.

What is the main difference between YCL and BNKU?

YCL is categorized as Leveraged Currency, while BNKU is Leveraged Equities. YCL tracks USD/JPY Exchange Rate (-200%), while BNKU tracks Solactive MicroSectors U.S. Big Banks Index (-300%). They also come from different issuers: ProShares and BMO.

Which has better risk-adjusted returns?

BNKU currently has the higher Sharpe Ratio (1.41 vs -0.91), 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.