AESR vs. BNO
AESR (Anfield U.S. Equity Sector Rotation ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - AESR is a Large Cap Growth Equities fund actively managed by Regents Park Funds, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. AESR is actively managed, while BNO is passively managed. Over the past 5 years, AESR returned 15.50%/yr vs 23.77%/yr for BNO. At a 0.13 correlation, their price movements are largely independent. AESR charges 1.46%/yr vs 0.90%/yr for BNO.
Performance
AESR vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, AESR achieves a 21.04% return, which is significantly lower than BNO's 86.76% return.
AESR
- 1D
- 1.33%
- 1M
- 7.32%
- YTD
- 21.04%
- 6M
- 22.36%
- 1Y
- 39.98%
- 3Y*
- 26.85%
- 5Y*
- 15.50%
- 10Y*
- —
BNO
- 1D
- 0.76%
- 1M
- -7.65%
- YTD
- 86.76%
- 6M
- 83.45%
- 1Y
- 89.50%
- 3Y*
- 27.10%
- 5Y*
- 23.77%
- 10Y*
- 13.38%
AESR vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
AESR Anfield U.S. Equity Sector Rotation ETF | 21.04% | 20.34% | 25.37% | 21.03% | -17.52% | 25.26% | 19.58% | 0.76% |
BNO United States Brent Oil Fund LP | 86.76% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | -38.23% | 1.12% |
Correlation
The correlation between AESR and BNO is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Dec 18, 2019 | 0.13 |
The correlation between AESR and BNO shifts across timeframes, from -0.29 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
AESR vs. BNO — Risk / Return Rank
AESR
BNO
AESR vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Anfield U.S. Equity Sector Rotation ETF (AESR) and United States Brent Oil Fund LP (BNO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| AESR | BNO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.45 | 2.17 | +0.28 |
Sortino ratioReturn per unit of downside risk | 3.25 | 2.68 | +0.58 |
Omega ratioGain probability vs. loss probability | 1.43 | 1.37 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 4.11 | 5.39 | -1.29 |
Martin ratioReturn relative to average drawdown | 17.33 | 10.23 | +7.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AESR | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.45 | 2.17 | +0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.87 | 0.68 | +0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 0.14 | +0.70 |
Drawdowns
AESR vs. BNO - Drawdown Comparison
The maximum AESR drawdown since its inception was -31.06%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for AESR and BNO.
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Drawdown Indicators
| AESR | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.06% | -87.06% | +56.00% |
Max Drawdown (1Y)Largest decline over 1 year | -9.82% | -17.87% | +8.05% |
Max Drawdown (3Y)Largest decline over 3 years | -19.85% | -23.75% | +3.90% |
Max Drawdown (5Y)Largest decline over 5 years | -25.04% | -33.70% | +8.66% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | 0.00% | -12.04% | +12.04% |
Average DrawdownAverage peak-to-trough decline | -6.02% | -40.18% | +34.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.33% | 9.43% | -7.10% |
Volatility
AESR vs. BNO - Volatility Comparison
The current volatility for Anfield U.S. Equity Sector Rotation ETF (AESR) is 5.60%, while United States Brent Oil Fund LP (BNO) has a volatility of 15.03%. This indicates that AESR experiences smaller price fluctuations and is considered to be less risky than BNO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AESR | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 15.03% | -9.43% |
Volatility (6M)Calculated over the trailing 6-month period | 12.76% | 36.08% | -23.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.39% | 41.56% | -25.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.83% | 35.37% | -17.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.45% | 36.68% | -16.23% |
AESR vs. BNO - Expense Ratio Comparison
AESR has a 1.46% expense ratio, which is higher than BNO's 0.90% expense ratio.
Dividends
AESR vs. BNO - Dividend Comparison
AESR's dividend yield for the trailing twelve months is around 19.02%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
AESR Anfield U.S. Equity Sector Rotation ETF | 19.02% | 23.02% | 0.17% | 0.33% | 0.73% | 6.59% | 1.06% | 0.33% |
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AESR and BNO have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (15.03%) compared to AESR (5.60%). In terms of maximum drawdown, AESR dropped -31.06% vs BNO's -87.06%.
On 5-year performance, BNO leads with 23.77% vs 15.50% for AESR. On fees, BNO is cheaper at 0.90% per year. On volatility, AESR has been the lower-risk option at 5.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BNO has performed better with a 23.77% return vs 15.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BNO is cheaper with a 0.90% expense ratio, compared with 1.46% for AESR.
AESR has the higher dividend yield at 19.02%, compared with 0.00% for BNO.
AESR is categorized as Large Cap Growth Equities, while BNO is Oil & Gas. They also come from different issuers: Regents Park Funds and Concierge Technologies. Their fees differ too: 1.46% for AESR and 0.90% for BNO.
AESR currently has the higher Sharpe Ratio (2.45 vs 2.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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