BNO vs. EWZ
Compare and contrast key facts about United States Brent Oil Fund LP (BNO) and iShares MSCI Brazil ETF (EWZ).
BNO and EWZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. EWZ is a passively managed fund by iShares that tracks the performance of the MSCI Brazil 25/50 Index. It was launched on Jul 10, 2000. Both BNO and EWZ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BNO or EWZ.
Key characteristics
| BNO | EWZ | |
|---|---|---|
| YTD Return | 7.84% | -18.12% |
| 1Y Return | 4.06% | -6.82% |
| 3Y Return (Ann) | 9.35% | 6.53% |
| 5Y Return (Ann) | 8.89% | -2.15% |
| 10Y Return (Ann) | -0.89% | 0.76% |
| Sharpe Ratio | 0.16 | -0.35 |
| Sortino Ratio | 0.40 | -0.37 |
| Omega Ratio | 1.05 | 0.96 |
| Calmar Ratio | 0.10 | -0.16 |
| Martin Ratio | 0.54 | -0.60 |
| Ulcer Index | 7.71% | 12.30% |
| Daily Std Dev | 26.27% | 20.63% |
| Max Drawdown | -87.06% | -77.27% |
| Current Drawdown | -36.60% | -44.98% |
Correlation
The correlation between BNO and EWZ is 0.31, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
BNO vs. EWZ - Performance Comparison
In the year-to-date period, BNO achieves a 7.84% return, which is significantly higher than EWZ's -18.12% return. Over the past 10 years, BNO has underperformed EWZ with an annualized return of -0.89%, while EWZ has yielded a comparatively higher 0.76% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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BNO vs. EWZ - Expense Ratio Comparison
BNO has a 0.90% expense ratio, which is higher than EWZ's 0.59% expense ratio.
Risk-Adjusted Performance
BNO vs. EWZ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for United States Brent Oil Fund LP (BNO) and iShares MSCI Brazil ETF (EWZ). 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.
Dividends
BNO vs. EWZ - Dividend Comparison
BNO has not paid dividends to shareholders, while EWZ's dividend yield for the trailing twelve months is around 7.70%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
EWZ iShares MSCI Brazil ETF | 7.70% | 5.66% | 12.59% | 9.87% | 1.71% | 2.54% | 2.89% | 1.71% | 1.81% | 4.08% | 3.78% | 3.23% |
Drawdowns
BNO vs. EWZ - Drawdown Comparison
The maximum BNO drawdown since its inception was -87.06%, which is greater than EWZ's maximum drawdown of -77.27%. Use the drawdown chart below to compare losses from any high point for BNO and EWZ. For additional features, visit the drawdowns tool.
Volatility
BNO vs. EWZ - Volatility Comparison
United States Brent Oil Fund LP (BNO) has a higher volatility of 9.50% compared to iShares MSCI Brazil ETF (EWZ) at 6.36%. This indicates that BNO's price experiences larger fluctuations and is considered to be riskier than EWZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.