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

BNKU
$--
Today’s Change
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Snapshot
*

Inception Date
Apr 03 2019
Expense Ratio
0.95%
Type
US Equities
Fund Owner
Bank of Montreal
Volume (1m avg. daily)
$1,111,447
AUM
$77,180,233
Associated Index
Solactive MicroSectors U.S. Big Banks Index
Inverse/Leveraged
Leveraged (3x)
Passive/Active
Passive
Dividend
No
Prospectus

Top 10 Holdings

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 .

ETFs related toBNKU

ETFs correlated to BNKU include CLOZ, PPIE, KBWB

BNKUBank of Montreal - MicroSectorsTM U.S. Big Banks Index 3X Leveraged ETNs
CLOZSeries Portfolios Trust - Panagram BBB-B CLO ETF
Expense Ratio0.50%
Correlation (1yr)1.00
Return (3mo)0.00%
Volume (avg daily 1m)NaN
PPIEPutnam ETF Trust - Putnam PanAgora ESG International Equity ETF
KBWBInvesco Capital Management LLC - Invesco KBW Bank ETF
XLFSSgA Active Trust - Financial Select Sector SPDR
FNCLFidelity Covington Trust - Fidelity MSCI Financials Index ETF
VFHVanguard Group, Inc. - Vanguard Financials ETF
FASDirexion Shares ETF Trust - Direxion Daily Financial Bull 3x Shares
IYFBlackRock Institutional Trust Company N.A. - iShares U.S. Financials ETF
DFNLDavis Selected Advisers L.P - Davis Select Financial ETF
IYGBlackRock Institutional Trust Company N.A. - iShares U.S. Financial Services 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.

Disclaimers

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We show information directly obtained from our data provider, XigniteData 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 providerInformation 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.