BSJW vs. BNO
BSJW (Invesco BulletShares 2032 High Yield Corporate Bond ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - BSJW is a High Yield Bonds fund tracking the Nasdaq BulletShares USD High Yield Corporate Bond 2032 Index, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. Both are passively managed. Over the past year, BSJW returned 5.31% vs 62.83% for BNO. Their -0.14 correlation means they have often moved in opposite directions in the past. BSJW charges 0.42%/yr vs 1.00%/yr for BNO.
Performance
BSJW vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, BSJW achieves a 1.11% return, which is significantly lower than BNO's 77.90% return.
BSJW
- 1D
- -0.06%
- 1M
- -0.28%
- 6M
- 0.61%
- YTD
- 1.11%
- 1Y
- 5.31%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.82%
BNO
- 1D
- 1.45%
- 1M
- 27.00%
- 6M
- 52.90%
- YTD
- 77.90%
- 1Y
- 62.83%
- 3Y*
- 20.31%
- 5Y*
- 20.89%
- 10Y*
- 15.06%
- ALL TIME*
- 4.31%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $107.13M | $97.34M | $147.52M | |
| $278.13K | $275.34K | $254.32K |
BSJW vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BSJW Invesco BulletShares 2032 High Yield Corporate Bond ETF | 1.11% | 9.85% | 3.62% |
BNO United States Brent Oil Fund LP | 77.90% | -5.44% | -2.28% |
Correlation
The correlation between BSJW and BNO is -0.33, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.33 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2024 | -0.14 |
The correlation between BSJW and BNO shifts across timeframes, from -0.33 (1 year) to -0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BSJW vs. BNO — Risk / Return Rank
BSJW
BNO
BSJW vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2032 High Yield Corporate Bond ETF (BSJW) 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.
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.
| BSJW | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.24 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 1.70 | -0.05 |
| Martin ratioReturn relative to average drawdown | 7.49 | 5.15 | +2.34 |
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Drawdowns
BSJW vs. BNO - Drawdown Comparison
The maximum BSJW drawdown since its inception was -4.52%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for BSJW and BNO.
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Drawdown Indicators
| BSJW | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.52% | -87.06% | +82.54% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -34.46% | +31.24% |
Max Drawdown (3Y)Largest decline over 3 years | — | -34.46% | — |
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 | -0.42% | -16.21% | +15.79% |
Average DrawdownAverage peak-to-trough decline | -0.53% | -39.99% | +39.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 11.86% | -11.15% |
Volatility
BSJW vs. BNO - Volatility Comparison
The current volatility for Invesco BulletShares 2032 High Yield Corporate Bond ETF (BSJW) is 0.84%, while United States Brent Oil Fund LP (BNO) has a volatility of 17.47%. This indicates that BSJW 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
| BSJW | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 17.47% | -16.63% |
Volatility (6M)Calculated over the trailing 6-month period | 3.39% | 40.96% | -37.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.19% | 44.54% | -40.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.00% | 36.41% | -31.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.00% | 36.98% | -31.98% |
BSJW vs. BNO - Expense Ratio Comparison
BSJW has a 0.42% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
BSJW vs. BNO - Dividend Comparison
BSJW's dividend yield for the trailing twelve months is around 6.71%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% |
BSJW Invesco BulletShares 2032 High Yield Corporate Bond ETF | 6.71% | 6.36% | 4.15% |
Frequently Asked Questions
BSJW and BNO have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (17.47%) compared to BSJW (0.84%). In terms of maximum drawdown, BSJW dropped -4.52% vs BNO's -87.06%.
On 1-year performance, BNO leads with 62.83% vs 5.31% for BSJW. On fees, BSJW is cheaper at 0.42% per year. On volatility, BSJW has been the lower-risk option at 0.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BNO has performed better with a 62.83% return vs 5.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSJW is cheaper with a 0.42% expense ratio, compared with 1.00% for BNO.
BSJW has the higher dividend yield at 6.71%, compared with 0.00% for BNO.
BSJW is categorized as High Yield Bonds, while BNO is Oil & Gas. BSJW tracks Nasdaq BulletShares USD High Yield Corporate Bond 2032 Index, while BNO tracks Crude Oil Brent ICE Near Term Futures. They also come from different issuers: Invesco and USCF. Their fees differ too: 0.42% for BSJW and 1.00% for BNO.
BNO currently has the higher Sharpe Ratio (1.32 vs 1.27), 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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