BEMB vs. BNO
BEMB (Ishares J.P. Morgan Broad USD Emerging Markets Bond ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - BEMB is a Emerging Markets Bonds fund actively managed by iShares, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. BEMB is actively managed, while BNO is passively managed. Over the past 3 years, BEMB returned 7.76%/yr vs 20.31%/yr for BNO. Their -0.14 correlation means they have often moved in opposite directions in the past. BEMB charges 0.18%/yr vs 1.00%/yr for BNO.
Performance
BEMB vs. BNO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BEMB achieves a 0.71% return, which is significantly lower than BNO's 77.90% return.
BEMB
- 1D
- -0.04%
- 1M
- -0.99%
- 6M
- 0.29%
- YTD
- 0.71%
- 1Y
- 5.84%
- 3Y*
- 7.76%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.92%
BNO
- 1D
- 1.45%
- 1M
- 27.00%
- 6M
- 52.90%
- YTD
- 77.90%
- 1Y
- 62.83%
- 3Y*
- 20.31%
- 5Y*
- 20.89%
- 10Y*
- 15.06%
- ALL TIME*
- 4.31%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $16.03K | $45.57K | $50.16K | |
| $107.13M | $97.34M | $147.52M |
BEMB vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BEMB Ishares J.P. Morgan Broad USD Emerging Markets Bond ETF | 0.71% | 12.27% | 5.51% | 8.88% |
BNO United States Brent Oil Fund LP | 77.90% | -5.44% | 9.67% | 0.40% |
Correlation
The correlation between BEMB and BNO is -0.45, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.45 |
Correlation (3Y) Balances recent behavior with more history. | -0.19 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2023 | -0.14 |
Over the past year, the inverse relationship between BEMB and BNO has strengthened: their correlation has moved from -0.14 to -0.45, meaning they now move in opposite directions more often than their long-term average.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BEMB vs. BNO — Risk / Return Rank
BEMB
BNO
BEMB vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ishares J.P. Morgan Broad USD Emerging Markets Bond ETF (BEMB) 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.
| BEMB | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.24 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 1.70 | +0.01 |
| Martin ratioReturn relative to average drawdown | 6.99 | 5.15 | +1.84 |
Loading charts...
Drawdowns
BEMB vs. BNO - Drawdown Comparison
The maximum BEMB drawdown since its inception was -6.17%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for BEMB and BNO.
Loading charts...
Drawdown Indicators
| BEMB | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.17% | -87.06% | +80.89% |
Max Drawdown (1Y)Largest decline over 1 year | -3.67% | -34.46% | +30.79% |
Max Drawdown (3Y)Largest decline over 3 years | -5.52% | -34.46% | +28.94% |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -1.28% | -16.21% | +14.93% |
Average DrawdownAverage peak-to-trough decline | -0.93% | -39.99% | +39.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 11.86% | -10.97% |
Volatility
BEMB vs. BNO - Volatility Comparison
The current volatility for Ishares J.P. Morgan Broad USD Emerging Markets Bond ETF (BEMB) is 1.22%, while United States Brent Oil Fund LP (BNO) has a volatility of 17.47%. This indicates that BEMB 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.
Loading charts...
Volatility by Period
| BEMB | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 17.47% | -16.25% |
Volatility (6M)Calculated over the trailing 6-month period | 3.68% | 40.96% | -37.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.37% | 44.54% | -40.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.82% | 36.41% | -30.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.82% | 36.98% | -31.16% |
BEMB vs. BNO - Expense Ratio Comparison
BEMB has a 0.18% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
BEMB vs. BNO - Dividend Comparison
BEMB's dividend yield for the trailing twelve months is around 6.95%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BEMB Ishares J.P. Morgan Broad USD Emerging Markets Bond ETF | 6.39% | 6.88% | 6.31% | 5.46% |
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BEMB and BNO have a correlation of -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (17.47%) compared to BEMB (1.22%). In terms of maximum drawdown, BEMB dropped -6.17% vs BNO's -87.06%.
On 3-year performance, BNO leads with 20.31% vs 7.76% for BEMB. On fees, BEMB is cheaper at 0.18% per year. On volatility, BEMB has been the lower-risk option at 1.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BNO has performed better with a 20.31% return vs 7.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BEMB is cheaper with a 0.18% expense ratio, compared with 1.00% for BNO.
BEMB has the higher dividend yield at 6.39%, compared with 0.00% for BNO.
BEMB is categorized as Emerging Markets Bonds, while BNO is Oil & Gas. They also come from different issuers: iShares and USCF. Their fees differ too: 0.18% for BEMB and 1.00% for BNO.
BEMB currently has the higher Sharpe Ratio (1.43 vs 1.32), 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.
Find the right allocation for BEMB and BNO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer