BRNT.L vs. BNO
Compare and contrast key facts about WisdomTree Brent Crude Oil (BRNT.L) and United States Brent Oil Fund LP (BNO).
BRNT.L and BNO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BRNT.L is a passively managed fund by WisdomTree that tracks the performance of the Bloomberg Brent Crude Subindex. It was launched on Jan 9, 2012. 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. Both BRNT.L and BNO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
BRNT.L vs. BNO - Performance Comparison
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BRNT.L vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BRNT.L WisdomTree Brent Crude Oil | 68.54% | -6.34% | 7.45% | 1.08% | 35.10% | 66.26% | -33.22% | 32.15% | -13.92% | 12.39% |
BNO United States Brent Oil Fund LP | 77.72% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | -38.23% | 36.01% | -15.30% | 15.43% |
Returns By Period
In the year-to-date period, BRNT.L achieves a 68.54% return, which is significantly lower than BNO's 77.72% return. Both investments have delivered pretty close results over the past 10 years, with BRNT.L having a 15.64% annualized return and BNO not far behind at 15.62%.
BRNT.L
- 1D
- -6.07%
- 1M
- 30.64%
- YTD
- 68.54%
- 6M
- 61.53%
- 1Y
- 51.92%
- 3Y*
- 21.15%
- 5Y*
- 25.11%
- 10Y*
- 15.64%
BNO
- 1D
- -3.23%
- 1M
- 34.79%
- YTD
- 77.72%
- 6M
- 69.06%
- 1Y
- 62.25%
- 3Y*
- 23.72%
- 5Y*
- 25.28%
- 10Y*
- 15.62%
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BRNT.L vs. BNO - Expense Ratio Comparison
BRNT.L has a 0.49% expense ratio, which is lower than BNO's 0.90% expense ratio.
Return for Risk
BRNT.L vs. BNO — Risk / Return Rank
BRNT.L
BNO
BRNT.L vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Brent Crude Oil (BRNT.L) 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.
| BRNT.L | BNO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.36 | 1.70 | -0.34 |
Sortino ratioReturn per unit of downside risk | 1.88 | 2.33 | -0.45 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.30 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 2.82 | 3.34 | -0.52 |
Martin ratioReturn relative to average drawdown | 5.24 | 6.02 | -0.78 |
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
| BRNT.L | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.36 | 1.70 | -0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.75 | 0.75 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.43 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.03 | 0.13 | -0.10 |
Correlation
The correlation between BRNT.L and BNO is 0.65, 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
BRNT.L vs. BNO - Dividend Comparison
Neither BRNT.L nor BNO has paid dividends to shareholders.
Drawdowns
BRNT.L vs. BNO - Drawdown Comparison
The maximum BRNT.L drawdown since its inception was -85.97%, roughly equal to the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for BRNT.L and BNO.
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Drawdown Indicators
| BRNT.L | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.97% | -87.06% | +1.09% |
Max Drawdown (1Y)Largest decline over 1 year | -18.66% | -18.48% | -0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -31.44% | -33.70% | +2.26% |
Max Drawdown (10Y)Largest decline over 10 years | -71.94% | -75.18% | +3.24% |
Current DrawdownCurrent decline from peak | -6.80% | -6.78% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -49.21% | -40.52% | -8.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.04% | 10.26% | -0.22% |
Volatility
BRNT.L vs. BNO - Volatility Comparison
WisdomTree Brent Crude Oil (BRNT.L) has a higher volatility of 22.71% compared to United States Brent Oil Fund LP (BNO) at 20.48%. This indicates that BRNT.L's price experiences larger fluctuations and is considered to be riskier 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
| BRNT.L | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.71% | 20.48% | +2.23% |
Volatility (6M)Calculated over the trailing 6-month period | 29.75% | 27.96% | +1.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.04% | 36.84% | +1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.31% | 33.91% | -0.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.90% | 36.11% | -1.21% |