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ETFs

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

BNKU
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Today’s Change
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Snapshot
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Inception Date
Apr 3, 2019
Expense Ratio
0.95%
Type
US Equities
Fund Owner
MicroSectors
Volume (1m avg. daily)
$12,505,243
AUM
$137,384,322
Associated Index
Solactive MicroSectors U.S. Big Banks Index
Inverse/Leveraged
Leveraged (3x)
Passive/Active
Passive
Fractionable on Composer
Yes
Prospectus
View
Invest with BNKU

What is BNKU?

The return on the MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (3X ETNs) is linked to a three times leveraged participation in the performance of the Index, compounded daily, minus the applicable fees. The ETNs provide levered 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 .

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ETFs related toBNKU

ETFs correlated to BNKU include KBWB, IYF, FNCL

BNKU
Bank of Montreal - MicroSectorsTM U.S. Big Banks Index 3X Leveraged ETNs
KBWB
Invesco Capital Management LLC - Invesco KBW Bank ETF
IYF
BlackRock Institutional Trust Company N.A. - iShares U.S. Financials ETF
FNCL
Fidelity Covington Trust - Fidelity MSCI Financials Index ETF
VFH
Vanguard Group, Inc. - Vanguard Financials ETF
FXO
First Trust Exchange-Traded Fund III - First Trust Financials AlphaDEX Fund
IYG
BlackRock Institutional Trust Company N.A. - iShares U.S. Financial Services ETF
FAS
Direxion Shares ETF Trust - Direxion Daily Financial Bull 3x Shares
XLF
SSgA Active Trust - Financial Select Sector SPDR
IAT
BlackRock Institutional Trust Company N.A. - iShares U.S. Regional Banks ETF
KBE
SPDR Series Trust - SPDR S&P Bank ETF

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.

FAQ

BNKU is a US Equities ETF. The return on the MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (3X ETNs) is linked to a three times leveraged participation in the performance of the Index, compounded daily, minus the applicable fees. The ETNs provide levered 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 .

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

No, BNKU 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, BNKU 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 BNKU is -0.0445%. This is the percent change in the value of BNKU over the most recent 1-month period. The 3-month return on BNKU is -0.0285%. This is the percent change in the value of BNKU over the most recent 3-month period.

The standard deviation of BNKU for the past year is 0.7682%. 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 BNKU include SSO, QID, and SDS.

ETFs correlated to BNKU include KBWB, IYF, and FNCL.

ETFs that are inversely correlated to BNKU include BNKD, FAZ, and RWM.

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

No, BNKU is not an inverse ETF.

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.

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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.

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