DDFF vs. BNO

Last updated Jul 22, 2026

DDFF (Innovator Equity Dual Directional 15 Buffer ETF - February) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - DDFF is a Defined Outcome fund actively managed by Innovator, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. DDFF is actively managed, while BNO is passively managed. At a correlation of -0.34, they often move in opposite directions. DDFF charges 0.79%/yr vs 1.00%/yr for BNO.

Performance

DDFF vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Dual Directional 15 Buffer ETF - February (DDFF) and United States Brent Oil Fund LP (BNO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DDFF

• 1D: 0.23%
• 1M: 0.45%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

BNO

• 1D: 2.51%
• 1M: 15.22%
• 6M: 69.78%
• YTD: 78.53%
• 1Y: 66.75%
• 3Y*: 22.68%
• 5Y*: 21.69%
• 10Y*: 14.02%
• ALL TIME*: 4.34%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DDFF vs. BNO - Yearly Performance Comparison

	2026 (YTD)
DDFF Innovator Equity Dual Directional 15 Buffer ETF - February	3.78%
BNO United States Brent Oil Fund LP	53.44%

Correlation

The correlation between DDFF and BNO is -0.34, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 2, 2026	-0.34

Return for Risk

DDFF vs. BNO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DDFF

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BNO

BNO Risk / Return Rank: 56
BNO Sharpe Ratio Rank: 64
BNO Sortino Ratio Rank: 60
BNO Omega Ratio Rank: 60
BNO Calmar Ratio Rank: 51
BNO Martin Ratio Rank: 46

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DDFF vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Dual Directional 15 Buffer ETF - February (DDFF) 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.

	DDFF	BNO	Difference
Sharpe ratio: Return per unit of total volatility	—	1.56	—
Sortino ratio: Return per unit of downside risk	—	2.15	—
Omega ratio: Gain probability vs. loss probability	—	1.28	—
Calmar ratio: Return relative to maximum drawdown	—	1.95	—
Martin ratio: Return relative to average drawdown	—	5.57	—

Drawdowns

DDFF vs. BNO - Drawdown Comparison

The maximum DDFF drawdown since its inception was -3.72%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for DDFF and BNO.

Drawdown Indicators

	DDFF	BNO	Difference
Max Drawdown Largest peak-to-trough decline	-3.72%	-87.06%	+83.34%
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 Drawdown Current decline from peak	-0.13%	-15.92%	+15.79%
Average Drawdown Average peak-to-trough decline	-0.53%	-40.04%	+39.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	12.02%	—

Volatility

Volatility by Period

	DDFF	BNO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.84%	—
Volatility (6M) Calculated over the trailing 6-month period	—	39.31%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.48%	42.97%	-37.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.48%	36.00%	-30.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.48%	36.81%	-31.33%

DDFF vs. BNO - Expense Ratio Comparison

DDFF has a 0.79% expense ratio, which is lower than BNO's 1.00% expense ratio.

Dividends

DDFF vs. BNO - Dividend Comparison

Neither DDFF nor BNO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DDFF and BNO in my portfolio?

DDFF and BNO have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DDFF or BNO?

On fees, DDFF is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DDFF or BNO?

DDFF is cheaper with a 0.79% expense ratio, compared with 1.00% for BNO.

Which ETF pays a higher dividend yield, DDFF or BNO?

DDFF and BNO have nearly identical dividend yields, around 0.00%.

What is the main difference between DDFF and BNO?

DDFF is categorized as Defined Outcome, while BNO is Oil & Gas. They also come from different issuers: Innovator and USCF Investments. Their fees differ too: 0.79% for DDFF and 1.00% for BNO.