BBIN vs. BNO
BBIN (JPMorgan BetaBuilders International Equity ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - BBIN is a Foreign Large Cap Equities fund tracking the Morningstar Developed Markets ex-North America Target Market Exposure Index, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. Both are passively managed. Over the past 5 years, BBIN returned 9.52%/yr vs 20.31%/yr for BNO. At a 0.14 correlation, their price movements are largely independent. BBIN charges 0.07%/yr vs 1.00%/yr for BNO.
Performance
BBIN vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, BBIN achieves a 10.52% return, which is significantly lower than BNO's 68.04% return.
BBIN
- 1D
- 0.54%
- 1M
- 0.43%
- 6M
- 6.58%
- YTD
- 10.52%
- 1Y
- 23.40%
- 3Y*
- 15.99%
- 5Y*
- 9.52%
- 10Y*
- —
BNO
- 1D
- 0.63%
- 1M
- 3.34%
- 6M
- 58.32%
- YTD
- 68.04%
- 1Y
- 57.58%
- 3Y*
- 20.81%
- 5Y*
- 20.31%
- 10Y*
- 12.83%
BBIN vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BBIN JPMorgan BetaBuilders International Equity ETF | 10.52% | 31.86% | 3.65% | 18.54% | -14.29% | 11.74% | 7.91% | 3.13% |
BNO United States Brent Oil Fund LP | 68.04% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | -38.23% | 6.05% |
Correlation
The correlation between BBIN and BNO is -0.33, 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 | -0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Dec 5, 2019 | 0.14 |
The correlation between BBIN and BNO shifts across timeframes, from -0.33 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BBIN vs. BNO — Risk / Return Rank
BBIN
BNO
BBIN vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders International Equity ETF (BBIN) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BBIN | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.25 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.03 | 1.68 | +0.35 |
| Martin ratioReturn relative to average drawdown | 7.49 | 4.90 | +2.59 |
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Drawdowns
BBIN vs. BNO - Drawdown Comparison
The maximum BBIN drawdown since its inception was -33.37%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for BBIN and BNO.
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Drawdown Indicators
| BBIN | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.37% | -87.06% | +53.69% |
Max Drawdown (1Y)Largest decline over 1 year | -11.57% | -34.46% | +22.89% |
Max Drawdown (3Y)Largest decline over 3 years | -13.98% | -34.46% | +20.48% |
Max Drawdown (5Y)Largest decline over 5 years | -29.24% | -34.46% | +5.22% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -0.92% | -20.85% | +19.93% |
Average DrawdownAverage peak-to-trough decline | -6.22% | -40.06% | +33.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.13% | 11.79% | -8.66% |
Volatility
BBIN vs. BNO - Volatility Comparison
The current volatility for JPMorgan BetaBuilders International Equity ETF (BBIN) is 4.06%, while United States Brent Oil Fund LP (BNO) has a volatility of 15.58%. This indicates that BBIN 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
| BBIN | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.06% | 15.58% | -11.52% |
Volatility (6M)Calculated over the trailing 6-month period | 13.70% | 39.15% | -25.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.05% | 42.70% | -26.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.68% | 36.10% | -19.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.09% | 36.78% | -17.69% |
BBIN vs. BNO - Expense Ratio Comparison
BBIN has a 0.07% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
BBIN vs. BNO - Dividend Comparison
BBIN's dividend yield for the trailing twelve months is around 3.65%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BBIN JPMorgan BetaBuilders International Equity ETF | 3.65% | 3.87% | 3.41% | 3.20% | 2.83% | 3.54% | 1.07% | 0.09% |
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
BBIN and BNO have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (15.58%) compared to BBIN (4.06%). In terms of maximum drawdown, BBIN dropped -33.37% vs BNO's -87.06%.
On 5-year performance, BNO leads with 20.31% vs 9.52% for BBIN. On fees, BBIN is cheaper at 0.07% per year. On volatility, BBIN has been the lower-risk option at 4.06%. 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 20.31% return vs 9.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBIN is cheaper with a 0.07% expense ratio, compared with 1.00% for BNO.
BBIN has the higher dividend yield at 3.65%, compared with 0.00% for BNO.
BBIN is categorized as Foreign Large Cap Equities, while BNO is Oil & Gas. BBIN tracks Morningstar Developed Markets ex-North America Target Market Exposure Index, while BNO tracks Crude Oil Brent ICE Near Term Futures. They also come from different issuers: JPMorgan and USCF Investments. Their fees differ too: 0.07% for BBIN and 1.00% for BNO.
BBIN currently has the higher Sharpe Ratio (1.47 vs 1.36), 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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