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BFOR vs. BNO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BFOR vs. BNO

Last updated Jun 3, 2026

BFOR (ALPS Barron's 400 ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - BFOR is a Mid Cap Blend Equities fund tracking the Barron's 400 Index, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 10 years, BFOR returned 12.42%/yr vs 13.38%/yr for BNO. At a 0.25 correlation, their price movements are largely independent. BFOR charges 0.65%/yr vs 0.90%/yr for BNO.

Performance

BFOR vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Barron's 400 ETF (BFOR) and United States Brent Oil Fund LP (BNO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BFOR achieves a 10.43% return, which is significantly lower than BNO's 86.76% return. Over the past 10 years, BFOR has underperformed BNO with an annualized return of 12.42%, while BNO has yielded a comparatively higher 13.38% annualized return.

BFOR

1D
0.42%
1M
2.06%
YTD
10.43%
6M
12.30%
1Y
23.81%
3Y*
19.54%
5Y*
10.24%
10Y*
12.42%

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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BFOR vs. BNO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
BFOR
ALPS Barron's 400 ETF		10.43%13.85%17.81%18.19%-15.92%30.71%17.60%21.30%-13.86%19.37%
BNO
United States Brent Oil Fund LP		86.76%-5.44%9.67%-3.43%35.25%62.34%-38.23%36.01%-15.30%15.43%

Correlation

The correlation between BFOR and BNO is -0.25, 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

-0.25

Correlation (3Y)
Calculated over the trailing 3-year period

-0.01

Correlation (5Y)
Calculated over the trailing 5-year period

0.15

Correlation (10Y)
Calculated over the trailing 10-year period

0.23

Correlation (All Time)
Calculated using the full available price history since Jun 5, 2013

0.25

The correlation between BFOR and BNO shifts across timeframes, from -0.25 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.

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ALPS Barron's 400 ETF

United States Brent Oil Fund LP

Often compared with BFOR:
BFOR vs. FFTYBFOR vs. SPYBFOR vs. VOOBFOR vs. MOATBFOR vs. SYLDBFOR vs. VTWOBFOR vs. SCHG
Often compared with BNO:
BNO vs. USOBNO vs. XLEBNO vs. USLBNO vs. BOILBNO vs. UNGBNO vs. UCOBNO vs. XOM

Return for Risk

BFOR vs. BNO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BFOR
BFOR Risk / Return Rank: 4949
Overall Rank
BFOR Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
BFOR Sortino Ratio Rank: 4848
Sortino Ratio Rank
BFOR Omega Ratio Rank: 4444
Omega Ratio Rank
BFOR Calmar Ratio Rank: 5252
Calmar Ratio Rank
BFOR Martin Ratio Rank: 5555
Martin Ratio Rank
BNO
BNO Risk / Return Rank: 6565
Overall Rank
BNO Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
BNO Sortino Ratio Rank: 5656
Sortino Ratio Rank
BNO Omega Ratio Rank: 6060
Omega Ratio Rank
BNO Calmar Ratio Rank: 8989
Calmar Ratio Rank
BNO Martin Ratio Rank: 5757
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BFOR vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Barron's 400 ETF (BFOR) 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.

BFORBNODifference

Sharpe ratio

Return per unit of total volatility

1.62

2.17

-0.56

Sortino ratio

Return per unit of downside risk

2.39

2.68

-0.29

Omega ratio

Gain probability vs. loss probability

1.28

1.37

-0.08

Calmar ratio

Return relative to maximum drawdown

2.63

5.39

-2.76

Martin ratio

Return relative to average drawdown

9.66

10.23

-0.57

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BFOR vs. BNO - Sharpe Ratio Comparison

The current BFOR Sharpe Ratio is 1.62, which is comparable to the BNO Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of BFOR and BNO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

BFORBNODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.62

2.17

-0.56

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.53

0.68

-0.15

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.61

0.37

+0.24

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

0.14

+0.46

Drawdowns

BFOR vs. BNO - Drawdown Comparison

The maximum BFOR drawdown since its inception was -41.27%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for BFOR and BNO.

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Drawdown Indicators

BFORBNODifference

Max Drawdown

Largest peak-to-trough decline

-41.27%

-87.06%

+45.79%

Max Drawdown (1Y)

Largest decline over 1 year

-8.98%

-17.87%

+8.89%

Max Drawdown (3Y)

Largest decline over 3 years

-21.91%

-23.75%

+1.84%

Max Drawdown (5Y)

Largest decline over 5 years

-25.93%

-33.70%

+7.77%

Max Drawdown (10Y)

Largest decline over 10 years

-41.27%

-75.18%

+33.91%

Current Drawdown

Current decline from peak

0.00%

-12.04%

+12.04%

Average Drawdown

Average peak-to-trough decline

-6.43%

-40.18%

+33.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.45%

9.43%

-6.98%

Volatility

BFOR vs. BNO - Volatility Comparison

The current volatility for ALPS Barron's 400 ETF (BFOR) is 3.56%, while United States Brent Oil Fund LP (BNO) has a volatility of 15.03%. This indicates that BFOR 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

BFORBNODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.56%

15.03%

-11.47%

Volatility (6M)

Calculated over the trailing 6-month period

10.63%

36.08%

-25.45%

Volatility (1Y)

Calculated over the trailing 1-year period

14.79%

41.56%

-26.77%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.41%

35.37%

-15.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.42%

36.68%

-16.26%

BFOR vs. BNO - Expense Ratio Comparison

BFOR has a 0.65% expense ratio, which is lower than BNO's 0.90% expense ratio.

Dividends

BFOR vs. BNO - Dividend Comparison

BFOR's dividend yield for the trailing twelve months is around 0.54%, while BNO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
BFOR
ALPS Barron's 400 ETF		0.54%0.60%0.69%1.26%1.68%0.92%0.98%0.69%0.94%0.60%0.78%0.86%
BNO
United States Brent Oil Fund LP		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

BFOR and BNO have a correlation of -0.25, 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 BFOR (3.56%). In terms of maximum drawdown, BFOR dropped -41.27% vs BNO's -87.06%.

On 10-year performance, BNO leads with 13.38% vs 12.42% for BFOR. On fees, BFOR is cheaper at 0.65% per year. On volatility, BFOR has been the lower-risk option at 3.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, BNO has performed better with a 13.38% return vs 12.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BFOR is cheaper with a 0.65% expense ratio, compared with 0.90% for BNO.

BFOR has the higher dividend yield at 0.54%, compared with 0.00% for BNO.

BFOR is categorized as Mid Cap Blend Equities, while BNO is Oil & Gas. BFOR tracks Barron's 400 Index, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: SS&C and Concierge Technologies. Their fees differ too: 0.65% for BFOR and 0.90% for BNO.

BNO currently has the higher Sharpe Ratio (2.17 vs 1.62), 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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