BTOT vs. BNO
BTOT (iShares Total USD Fixed Income Market ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - BTOT is a Total Bond Market fund tracking the Bloomberg US Total Fixed Income Market Index, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. Both are passively managed. Their -0.52 correlation means they have often moved in opposite directions in the past. BTOT charges 0.09%/yr vs 1.00%/yr for BNO.
Performance
BTOT vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, BTOT achieves a -0.09% return, which is significantly lower than BNO's 68.89% return.
BTOT
- 1D
- 0.23%
- 1M
- -0.91%
- 6M
- -0.22%
- YTD
- -0.09%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $109.23M | $101.30M | $143.17M | |
| $31.83K | $48.31K | $75.14K |
BTOT vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BTOT iShares Total USD Fixed Income Market ETF | -0.09% | 0.12% |
BNO United States Brent Oil Fund LP | 68.89% | -2.09% |
Correlation
The correlation between BTOT and BNO is -0.52, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025 | -0.52 |
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Return for Risk
BTOT vs. BNO — Risk / Return Rank
BTOT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BNO
BTOT vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Total USD Fixed Income Market ETF (BTOT) 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.
| BTOT | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.23 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.59 | — |
| Martin ratioReturn relative to average drawdown | — | 4.81 | — |
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Drawdowns
BTOT vs. BNO - Drawdown Comparison
The maximum BTOT drawdown since its inception was -2.36%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for BTOT and BNO.
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Drawdown Indicators
| BTOT | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.36% | -87.06% | +84.70% |
Max Drawdown (1Y)Largest decline over 1 year | — | -34.46% | — |
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 | -1.66% | -20.46% | +18.80% |
Average DrawdownAverage peak-to-trough decline | -0.86% | -39.99% | +39.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 11.41% | — |
Volatility
BTOT vs. BNO - Volatility Comparison
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Volatility by Period
| BTOT | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 18.59% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 41.33% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.62% | 44.80% | -41.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.62% | 36.47% | -32.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.62% | 37.01% | -33.39% |
BTOT vs. BNO - Expense Ratio Comparison
BTOT has a 0.09% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
BTOT vs. BNO - Dividend Comparison
BTOT's dividend yield for the trailing twelve months is around 2.93%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% |
BTOT iShares Total USD Fixed Income Market ETF | 2.93% | 0.22% |
Frequently Asked Questions
BTOT and BNO have a correlation of -0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BTOT is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTOT is cheaper with a 0.09% expense ratio, compared with 1.00% for BNO.
BTOT has the higher dividend yield at 2.93%, compared with 0.00% for BNO.
BTOT is categorized as Total Bond Market, while BNO is Oil & Gas. BTOT tracks Bloomberg US Total Fixed Income Market Index, while BNO tracks Crude Oil Brent ICE Near Term Futures. They also come from different issuers: iShares and USCF. Their fees differ too: 0.09% for BTOT and 1.00% for BNO.
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