ARKF vs. BNO
ARKF (ARK Fintech Innovation ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - ARKF is a Blockchain fund actively managed by ARK, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. ARKF is actively managed, while BNO is passively managed. Over the past 5 years, ARKF returned -4.19%/yr vs 24.16%/yr for BNO. At a 0.10 correlation, their price movements are largely independent. ARKF charges 0.75%/yr vs 0.90%/yr for BNO.
Performance
ARKF vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, ARKF achieves a -16.17% return, which is significantly lower than BNO's 90.47% return.
ARKF
- 1D
- -3.76%
- 1M
- -7.12%
- YTD
- -16.17%
- 6M
- -20.39%
- 1Y
- -4.73%
- 3Y*
- 26.10%
- 5Y*
- -4.19%
- 10Y*
- —
BNO
- 1D
- 1.99%
- 1M
- -10.29%
- YTD
- 90.47%
- 6M
- 86.00%
- 1Y
- 91.89%
- 3Y*
- 27.93%
- 5Y*
- 24.16%
- 10Y*
- 13.60%
ARKF vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ARKF ARK Fintech Innovation ETF | -16.17% | 28.67% | 34.34% | 93.27% | -65.07% | -17.82% | 108.03% | 19.04% |
BNO United States Brent Oil Fund LP | 90.47% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | -38.23% | 17.53% |
Correlation
The correlation between ARKF and BNO is -0.16, 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 | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2019 | 0.10 |
The correlation between ARKF and BNO shifts across timeframes, from -0.16 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ARKF vs. BNO — Risk / Return Rank
ARKF
BNO
ARKF vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ARK Fintech Innovation ETF (ARKF) 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.
| ARKF | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.37 | ||
| Sortino ratioReturn per unit of downside risk | -2.69 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.38 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.12 | 5.17 | -5.29 |
| Martin ratioReturn relative to average drawdown | -0.23 | 9.76 | -9.99 |
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
| ARKF | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.14 | 2.23 | -2.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.10 | 0.69 | -0.78 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.14 | +0.11 |
Drawdowns
ARKF vs. BNO - Drawdown Comparison
The maximum ARKF drawdown since its inception was -78.63%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for ARKF and BNO.
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Drawdown Indicators
| ARKF | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.63% | -87.06% | +8.43% |
Max Drawdown (1Y)Largest decline over 1 year | -38.50% | -17.87% | -20.63% |
Max Drawdown (3Y)Largest decline over 3 years | -38.50% | -23.75% | -14.75% |
Max Drawdown (5Y)Largest decline over 5 years | -75.30% | -33.70% | -41.60% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -37.16% | -10.29% | -26.87% |
Average DrawdownAverage peak-to-trough decline | -34.96% | -40.17% | +5.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.22% | 9.45% | +10.77% |
Volatility
ARKF vs. BNO - Volatility Comparison
The current volatility for ARK Fintech Innovation ETF (ARKF) is 8.36%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that ARKF 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
| ARKF | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.36% | 14.22% | -5.86% |
Volatility (6M)Calculated over the trailing 6-month period | 24.47% | 36.10% | -11.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.66% | 41.46% | -7.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.79% | 35.38% | +7.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.77% | 36.68% | +3.09% |
ARKF vs. BNO - Expense Ratio Comparison
ARKF has a 0.75% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
ARKF vs. BNO - Dividend Comparison
ARKF's dividend yield for the trailing twelve months is around 0.11%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
ARKF ARK Fintech Innovation ETF | 0.11% | 0.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.37% | 1.25% |
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
ARKF and BNO have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (14.22%) compared to ARKF (8.36%). In terms of maximum drawdown, ARKF dropped -78.63% vs BNO's -87.06%.
On 5-year performance, BNO leads with 24.16% vs -4.19% for ARKF. On fees, ARKF is cheaper at 0.75% per year. On volatility, ARKF has been the lower-risk option at 8.36%. 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 24.16% return vs -4.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ARKF is cheaper with a 0.75% expense ratio, compared with 0.90% for BNO.
ARKF has the higher dividend yield at 0.11%, compared with 0.00% for BNO.
ARKF is categorized as Blockchain, while BNO is Oil & Gas. They also come from different issuers: ARK and Concierge Technologies. Their fees differ too: 0.75% for ARKF and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.23 vs -0.14), 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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