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MicroSectorsTM U.S. Big Banks Index -3X Inverse Leveraged ETNs

BNKD
$--
Today’s Change
-- (--)

Snapshot
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Inception Date
Apr 03 2019
Expense Ratio
0.95%
Type
US Equities
Fund Owner
Bank of Montreal
Volume (1m avg. daily)
$361,479
AUM
$7,735,057
Associated Index
Solactive MicroSectors U.S. Big Banks Index
Inverse/Leveraged
Inverse (-3x)
Passive/Active
Passive
Fractionable on Composer
No
Prospectus

Top 10 Holdings

Invest with BNKD

What is BNKD?

The return on the MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs (-3X ETNs) is linked to a three times inverse leveraged participation the performance of the Index, compounded daily, minus the applicable fees. The ETNs provide inverse leveraged exposure to the Solactive MicroSectors U.S. Big Banks Index. The Solactive MicroSectors U.S. Big Banks Index, an equal-dollar weighted index, was created by Solactive AG in 2019 to provide exposure to the 10 largest U.S. banks and financial services companies. MicroSectors provide concentrated exposure to 10 stocks in a given sub-sector, or microsector .

ETFs related toBNKD

ETFs correlated to BNKD include FAZ, SEF, DOG

BNKD
Bank of Montreal - MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs
FAZ
Direxion Shares ETF Trust - Direxion Daily Financial Bear 3x Shares
SEF
ProShares Trust - ProShares Short Financials -1x Shares
DOG
ProShares Trust - ProShares Short Dow30 -1x Shares
SDOW
ProShares Trust - ProShares UltraPro Short Dow30 -3x Shares
DXD
ProShares Trust - ProShares UltraShort Dow 30-2X Shares
SPXS
Direxion Shares ETF Trust - Direxion Daily S&P 500 Bear -3X Shares
EPV
ProShares Trust - ProShares UltraShort FTSE Europe -2X Shares
EFZ
ProShares Trust - ProShares Short MSCI EAFE -1X Shares
SDS
ProShares Trust - ProShares UltraShort S&P500 -2x Shares
SPDN
Direxion Shares ETF Trust - Direxion Daily S&P 500 Bear 1X Shares

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Automated Strategies
Related toBNKD

#SPYMIN

SPY minimum drawdown

Category

Community

Risk Rating

Aggressive

Create your own algorithmic trading strategy with BNKD using Composer

FAQ

BNKD is a US Equities ETF. The return on the MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs (-3X ETNs) is linked to a three times inverse leveraged participation the performance of the Index, compounded daily, minus the applicable fees. The ETNs provide inverse leveraged exposure to the Solactive MicroSectors U.S. Big Banks Index. The Solactive MicroSectors U.S. Big Banks Index, an equal-dollar weighted index, was created by Solactive AG in 2019 to provide exposure to the 10 largest U.S. banks and financial services companies. MicroSectors provide concentrated exposure to 10 stocks in a given sub-sector, or microsector .

The top holdings for BNKD include

BNKD has total holdings.

BNKD tracks the Solactive MicroSectors U.S. Big Banks Index.

No, BNKD is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, BNKD is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on BNKD is -0.173%. This is the percent change in the value of BNKD over the most recent 1-month period. The 3-month return on BNKD is -0.2498%. This is the percent change in the value of BNKD over the most recent 3-month period.

The standard deviation of BNKD for the past year is 0.8258%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to BNKD include TNA, SH, and PSQ.

ETFs correlated to BNKD include FAZ, SEF, and DOG.

ETFs that are inversely correlated to BNKD include BNKU, KBWB, and XLF.

Yes, BNKD is a Inverse (-3x) ETF: This means that BNKD will try to match the performance of Solactive MicroSectors U.S. Big Banks Index, but with 3x the returns.

Yes, BNKD is a Inverse (-3x) leveraged ETF: This means that {characteristics.Identifier} will try to match the performance of Solactive MicroSectors U.S. Big Banks Index, but move 3x in the opposite direction.

Disclaimers

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We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.