BNO vs. COP
Compare and contrast key facts about United States Brent Oil Fund LP (BNO) and ConocoPhillips Company (COP).
BNO is a passively managed fund by Concierge Technologies that tracks the performance of the Front Month Brent Crude Oil. It was launched on Jun 2, 2010.
Performance
BNO vs. COP - Performance Comparison
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BNO vs. COP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 83.65% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | -38.23% | 36.01% | -15.30% | 15.43% |
COP ConocoPhillips Company | 42.11% | -2.34% | -12.02% | 1.98% | 71.69% | 86.60% | -36.04% | 6.63% | 15.63% | 11.95% |
Returns By Period
In the year-to-date period, BNO achieves a 83.65% return, which is significantly higher than COP's 42.11% return. Both investments have delivered pretty close results over the past 10 years, with BNO having a 16.00% annualized return and COP not far ahead at 16.28%.
BNO
- 1D
- -3.67%
- 1M
- 49.41%
- YTD
- 83.65%
- 6M
- 73.08%
- 1Y
- 67.18%
- 3Y*
- 25.08%
- 5Y*
- 26.10%
- 10Y*
- 16.00%
COP
- 1D
- -0.67%
- 1M
- 16.34%
- YTD
- 42.11%
- 6M
- 41.94%
- 1Y
- 30.00%
- 3Y*
- 13.58%
- 5Y*
- 23.95%
- 10Y*
- 16.28%
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Return for Risk
BNO vs. COP — Risk / Return Rank
BNO
COP
BNO vs. COP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United States Brent Oil Fund LP (BNO) and ConocoPhillips Company (COP). 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.
| BNO | COP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.84 | 0.88 | +0.96 |
Sortino ratioReturn per unit of downside risk | 2.48 | 1.32 | +1.16 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.18 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 3.91 | 1.51 | +2.40 |
Martin ratioReturn relative to average drawdown | 7.06 | 2.91 | +4.15 |
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
| BNO | COP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.84 | 0.88 | +0.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.77 | 0.74 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | 0.43 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.23 | -0.10 |
Correlation
The correlation between BNO and COP is 0.59, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
BNO vs. COP - Dividend Comparison
BNO has not paid dividends to shareholders, while COP's dividend yield for the trailing twelve months is around 2.45%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
COP ConocoPhillips Company | 2.45% | 3.40% | 3.35% | 3.37% | 4.23% | 2.70% | 4.23% | 2.05% | 1.86% | 1.93% | 1.99% | 6.30% |
Drawdowns
BNO vs. COP - Drawdown Comparison
The maximum BNO drawdown since its inception was -87.06%, roughly equal to the maximum COP drawdown of -84.55%. Use the drawdown chart below to compare losses from any high point for BNO and COP.
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Drawdown Indicators
| BNO | COP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.06% | -84.55% | -2.51% |
Max Drawdown (1Y)Largest decline over 1 year | -18.48% | -22.09% | +3.61% |
Max Drawdown (5Y)Largest decline over 5 years | -33.70% | -36.19% | +2.49% |
Max Drawdown (10Y)Largest decline over 10 years | -75.18% | -70.66% | -4.52% |
Current DrawdownCurrent decline from peak | -3.67% | -1.35% | -2.32% |
Average DrawdownAverage peak-to-trough decline | -40.53% | -25.55% | -14.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.25% | 11.45% | -1.20% |
Volatility
BNO vs. COP - Volatility Comparison
United States Brent Oil Fund LP (BNO) has a higher volatility of 20.01% compared to ConocoPhillips Company (COP) at 6.82%. This indicates that BNO's price experiences larger fluctuations and is considered to be riskier than COP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNO | COP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.01% | 6.82% | +13.19% |
Volatility (6M)Calculated over the trailing 6-month period | 27.75% | 20.55% | +7.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.79% | 34.39% | +2.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.90% | 32.78% | +1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.10% | 37.68% | -1.58% |