YCL vs. BNKU

Last updated Apr 1, 2026

Compare and contrast key facts about ProShares Ultra Yen (YCL) and MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU).

YCL and BNKU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. YCL is a passively managed fund by ProShares that tracks the performance of the USD/JPY Exchange Rate (-200%). It was launched on Nov 24, 2008. BNKU is a passively managed fund by Bank of Montreal that tracks the performance of the Solactive MicroSectors U.S. Big Banks Index (-300%). It was launched on Apr 2, 2019. Both YCL and BNKU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

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.

YCL vs. BNKU - Yearly Performance Comparison

	2026 (YTD)	2025
YCL ProShares Ultra Yen	-3.59%	-13.85%
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	-21.78%	46.04%

Returns By Period

In the year-to-date period, YCL achieves a -3.59% return, which is significantly higher than BNKU's -21.78% return.

YCL

• 1D: 1.08%
• 1M: -3.33%
• YTD: -3.59%
• 6M: -15.53%
• 1Y: -16.05%
• 3Y*: -17.74%
• 5Y*: -18.74%
• 10Y*: -11.45%

BNKU

• 1D: 10.05%
• 1M: -5.87%
• YTD: -21.78%
• 6M: -6.06%
• 1Y: 63.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YCL vs. BNKU - Expense Ratio Comparison

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

YCL

ProShares Ultra Yen

BNKU

MicroSectors U.S. Big Banks Index 3X Leveraged ETNs

Return for Risk

YCL vs. BNKU — Risk / Return Rank

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

YCL

YCL Risk / Return Rank: 2
YCL Sharpe Ratio Rank: 1
YCL Sortino Ratio Rank: 1
YCL Omega Ratio Rank: 2
YCL Calmar Ratio Rank: 3
YCL Martin Ratio Rank: 4

BNKU

BNKU Risk / Return Rank: 56
BNKU Sharpe Ratio Rank: 49
BNKU Sortino Ratio Rank: 56
BNKU Omega Ratio Rank: 61
BNKU Calmar Ratio Rank: 67
BNKU Martin Ratio Rank: 48

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.

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.

	YCL	BNKU	Difference
Sharpe ratio Return per unit of total volatility	-0.80	0.86	-1.66
Sortino ratio Return per unit of downside risk	-1.09	1.44	-2.52
Omega ratio Gain probability vs. loss probability	0.88	1.22	-0.34
Calmar ratio Return relative to maximum drawdown	-0.59	1.66	-2.24
Martin ratio Return relative to average drawdown	-0.96	4.49	-5.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

YCL vs. BNKU - Sharpe Ratio Comparison

The current YCL Sharpe Ratio is -0.80, which is lower than the BNKU Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of YCL and BNKU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	YCL	BNKU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.80	0.86	-1.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.92	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.50	0.17	-0.67

Correlation

The correlation between YCL and BNKU is -0.14. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

YCL vs. BNKU - Dividend Comparison

Neither YCL nor BNKU has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

YCL vs. BNKU - Drawdown Comparison

The maximum YCL drawdown since its inception was -88.10%, which is greater than BNKU's maximum drawdown of -58.03%. 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	-88.10%	-58.03%	-30.07%
Max Drawdown (1Y) Largest decline over 1 year	-27.44%	-41.95%	+14.51%
Max Drawdown (5Y) Largest decline over 5 years	-66.93%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-76.61%	—	—
Current Drawdown Current decline from peak	-87.87%	-33.69%	-54.18%
Average Drawdown Average peak-to-trough decline	-52.76%	-15.99%	-36.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.82%	15.46%	+1.36%

Volatility

YCL vs. BNKU - Volatility Comparison

The current volatility for ProShares Ultra Yen (YCL) is 4.83%, while MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) has a volatility of 18.30%. 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	4.83%	18.30%	-13.47%
Volatility (6M) Calculated over the trailing 6-month period	12.21%	46.11%	-33.90%
Volatility (1Y) Calculated over the trailing 1-year period	20.25%	73.78%	-53.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.42%	75.73%	-55.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.85%	75.73%	-56.88%