BNKU +3x MicroSectors U.S. Big Banks 3x Leveraged ETNs due February 17, 2045

BULL ETN extreme · Issuer MicroSectors · Tracks Big Banks (KBE) · Listed 2019-04-03

Quote & options All leveraged ETFs

Implied AUM

—

shares out × price

Last close

$32.08

20261001

30-day avg volume

8,757

no listed options

BNKU realized

—

what holders actually earned

Theoretical +3x

—

+3x × Big Banks's return

Decay gap

—

realized minus theoretical

Realized vs theoretical +3x Big Banks

Cumulative return of BNKU against a clean +3x of Big Banks's return over the same window; the red line (right axis) is the gap between them.

Pair counterpart: BNKD (-3x bear, MicroSectors U.S. Big Banks -3x Inverse Leveraged ETNs due February 17, 2045)

Shorting both legs of a daily-reset bull/bear pair captures their combined decay over time. It isn't free money — the edge depends on borrow rates (often punitive on the bear leg) and assignment risk on hard-to-borrow shares.

Other leveraged products on Big Banks

Symbol	Factor	Direction	Issuer	Name	Implied AUM	30d volume	Options
BNKD	-3x	BEAR	MicroSectors	MicroSectors U.S. Big Banks -3x Inverse Leveraged ETNs due February 17, 2045	—	229

How BNKU works

BNKU targets +3x the daily return of Big Banks — not the return over longer windows. It rebalances every day, so over weeks and months its result drifts away from +3x × the index, usually downward when the market chops around.

The maths: the drag is roughly −½ × N × (N−1) × σ² per period (N = leverage, σ = the index's volatility). For a +3x fund on an index with 25% annual volatility that is several percent a year before fees — the red line above is that drag measured.

Short-term trades (a day or a few) are what these funds are built for. Premium sellers like their rich option IV — see the quote page. Multi-day directional bets work in strong trends and get eaten in chop.

Not investment advice.