BNO vs. UDI
BNO (United States Brent Oil Fund LP) and UDI (USCF ESG Dividend Income Fund) are both exchange-traded funds - BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures, while UDI is a Large Cap Value Equities fund actively managed by USCF. BNO is passively managed, while UDI is actively managed. Over the past 3 years, BNO returned 17.84%/yr vs 17.36%/yr for UDI. Their 0.06 correlation means their historical movements had little consistent relationship. BNO charges 1.00%/yr vs 0.65%/yr for UDI.
Performance
BNO vs. UDI - Performance Comparison
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Returns By Period
In the year-to-date period, BNO achieves a 68.89% return, which is significantly higher than UDI's 16.33% return.
BNO
- 1D
- -5.06%
- 1M
- 20.57%
- 6M
- 52.91%
- YTD
- 68.89%
- 1Y
- 54.59%
- 3Y*
- 17.84%
- 5Y*
- 21.29%
- 10Y*
- 13.80%
- ALL TIME*
- 3.97%
UDI
- 1D
- -0.38%
- 1M
- 2.44%
- 6M
- 11.52%
- YTD
- 16.33%
- 1Y
- 27.24%
- 3Y*
- 17.36%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 13.73%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $109.23M | $101.30M | $143.17M | |
| $32.26K | $57.57K | $43.82K |
BNO vs. UDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 68.89% | -5.44% | 9.67% | -3.43% | -20.09% |
UDI USCF ESG Dividend Income Fund | 16.33% | 14.23% | 17.07% | 6.35% | 3.14% |
Correlation
The correlation between BNO and UDI is -0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.10 |
Correlation (3Y) Balances recent behavior with more history. | -0.04 |
Correlation (All Time) Calculated using the full available price history since Jun 8, 2022 | 0.06 |
The correlation between BNO and UDI shifts across timeframes, from -0.10 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BNO vs. UDI — Risk / Return Rank
BNO
UDI
BNO vs. UDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United States Brent Oil Fund LP (BNO) and USCF ESG Dividend Income Fund (UDI). 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.
| BNO | UDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.50 | ||
| Sortino ratioReturn per unit of downside risk | -2.17 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.48 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 4.84 | -3.25 |
| Martin ratioReturn relative to average drawdown | 4.81 | 19.16 | -14.36 |
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Drawdowns
BNO vs. UDI - Drawdown Comparison
The maximum BNO drawdown since its inception was -87.06%, which is greater than UDI's maximum drawdown of -14.17%. Use the drawdown chart below to compare losses from any high point for BNO and UDI.
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Drawdown Indicators
| BNO | UDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.06% | -14.17% | -72.89% |
Max Drawdown (1Y)Largest decline over 1 year | -34.46% | -5.66% | -28.80% |
Max Drawdown (3Y)Largest decline over 3 years | -34.46% | -14.17% | -20.29% |
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 | -20.46% | -1.46% | -19.00% |
Average DrawdownAverage peak-to-trough decline | -39.99% | -3.00% | -36.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.41% | 1.43% | +9.98% |
Volatility
BNO vs. UDI - Volatility Comparison
United States Brent Oil Fund LP (BNO) has a higher volatility of 18.59% compared to USCF ESG Dividend Income Fund (UDI) at 2.85%. This indicates that BNO's price experiences larger fluctuations and is considered to be riskier than UDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNO | UDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.59% | 2.85% | +15.74% |
Volatility (6M)Calculated over the trailing 6-month period | 41.33% | 7.37% | +33.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.80% | 10.07% | +34.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.47% | 13.93% | +22.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.01% | 13.93% | +23.08% |
BNO vs. UDI - Expense Ratio Comparison
BNO has a 1.00% expense ratio, which is higher than UDI's 0.65% expense ratio.
Dividends
BNO vs. UDI - Dividend Comparison
BNO has not paid dividends to shareholders, while UDI's dividend yield for the trailing twelve months is around 2.57%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UDI USCF ESG Dividend Income Fund | 2.57% | 2.42% | 5.33% | 2.61% | 1.79% |
Frequently Asked Questions
BNO and UDI have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (18.59%) compared to UDI (2.85%). In terms of maximum drawdown, BNO dropped -87.06% vs UDI's -14.17%.
On 3-year performance, BNO leads with 17.84% vs 17.36% for UDI. On fees, UDI is cheaper at 0.65% per year. On volatility, UDI has been the lower-risk option at 2.85%. 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 17.84% return vs 17.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UDI is cheaper with a 0.65% expense ratio, compared with 1.00% for BNO.
UDI has the higher dividend yield at 2.57%, compared with 0.00% for BNO.
BNO is categorized as Oil & Gas, while UDI is Large Cap Value Equities. Their fees differ too: 1.00% for BNO and 0.65% for UDI.
UDI currently has the higher Sharpe Ratio (2.72 vs 1.23), 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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