BNKDMicroSectors™ U.S. Big Banks -3x Inverse Leveraged ETNs
Seeks to provide -3x inverse leveraged exposure to the Solactive MicroSectors™ U.S. Big Banks Index.
By BMO Capital Markets · Launched 2025
0.35%
#1,651 of 5,861 · low cost
$1M
#5,640 of 5,861 · small
-65.3%
1 year
#4,095 of 5,861 · young
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundAsset class
EquityRegion
North americaStrategy
Inverse
Sector
FinancialsIndex tracked
Solactive MicroSectors US Big Banks Index
What it actually holds
By weightConcentration
synthetic exposure — holdings shown are derivatives collateral, not the fund's positions
Asset allocation
By sector
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Listing
- Exchange
- NYSE Arca
Full fund details
- Objective
- Seeks to provide -3x inverse leveraged exposure to the Solactive MicroSectors™ U.S. Big Banks Index.
- Strategy
- Provides -3x inverse leveraged exposure to an equally-weighted index of the largest U.S. banking and investment services stocks, resetting daily. The index includes 10 stocks based on free-float market capitalization.
- Inception date
- February 20, 2025
- Fund family
- BMO Capital Markets
Similar funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Your return drifts the longer you hold
Leverage amplifies the index's daily move, by 2x or 3x. The fund resets every day, so over weeks and months your real return drifts from that multiple. It can run ahead in a smooth climb and bleed in a choppy one. Hold one for months and you own a different bet than the label suggests.
You can be right and still lose
This fund returns the opposite of its benchmark's daily move, then resets. Hold it longer and the daily compounding takes over: the market can move your way over a week and you still finish down. It works as a one-day hedge and nothing beyond that.
Sources: Cheng & Madhavan, 'The Dynamics of Leveraged and Inverse ETFs' (2009)
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
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Data updated on 2026-08-04