DEHP vs. BNO
DEHP (Dimensional Emerging Markets High Profitability ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - DEHP is a Emerging Markets Diversified fund actively managed by Dimensional, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. DEHP is actively managed, while BNO is passively managed. Over the past 3 years, DEHP returned 25.54%/yr vs 27.93%/yr for BNO. At a 0.12 correlation, their price movements are largely independent. DEHP charges 0.41%/yr vs 0.90%/yr for BNO.
Performance
DEHP vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, DEHP achieves a 35.45% return, which is significantly lower than BNO's 90.47% return.
DEHP
- 1D
- -1.18%
- 1M
- 10.85%
- YTD
- 35.45%
- 6M
- 39.02%
- 1Y
- 66.88%
- 3Y*
- 25.54%
- 5Y*
- —
- 10Y*
- —
BNO
- 1D
- 1.99%
- 1M
- -10.29%
- YTD
- 90.47%
- 6M
- 86.00%
- 1Y
- 91.89%
- 3Y*
- 27.93%
- 5Y*
- 24.16%
- 10Y*
- 13.60%
DEHP vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DEHP Dimensional Emerging Markets High Profitability ETF | 35.45% | 32.86% | 4.47% | 12.31% | -9.73% |
BNO United States Brent Oil Fund LP | 90.47% | -5.44% | 9.67% | -3.43% | -5.95% |
Correlation
The correlation between DEHP and BNO is -0.28, 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 (1Y) Calculated over the trailing 1-year period | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2022 | 0.12 |
The correlation between DEHP and BNO shifts across timeframes, from -0.28 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DEHP vs. BNO — Risk / Return Rank
DEHP
BNO
DEHP vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional Emerging Markets High Profitability ETF (DEHP) 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.
| DEHP | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.38 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 5.11 | 5.17 | -0.06 |
| Martin ratioReturn relative to average drawdown | 20.55 | 9.76 | +10.79 |
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
| DEHP | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.21 | 2.23 | +0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.69 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.92 | 0.14 | +0.78 |
Drawdowns
DEHP vs. BNO - Drawdown Comparison
The maximum DEHP drawdown since its inception was -22.90%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for DEHP and BNO.
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Drawdown Indicators
| DEHP | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.90% | -87.06% | +64.16% |
Max Drawdown (1Y)Largest decline over 1 year | -13.16% | -17.87% | +4.71% |
Max Drawdown (3Y)Largest decline over 3 years | -19.14% | -23.75% | +4.61% |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -1.18% | -10.29% | +9.11% |
Average DrawdownAverage peak-to-trough decline | -5.75% | -40.17% | +34.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 9.45% | -6.19% |
Volatility
DEHP vs. BNO - Volatility Comparison
The current volatility for Dimensional Emerging Markets High Profitability ETF (DEHP) is 9.93%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that DEHP 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
| DEHP | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.93% | 14.22% | -4.29% |
Volatility (6M)Calculated over the trailing 6-month period | 18.56% | 36.10% | -17.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.97% | 41.46% | -20.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.62% | 35.38% | -16.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.62% | 36.68% | -18.06% |
DEHP vs. BNO - Expense Ratio Comparison
DEHP has a 0.41% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
DEHP vs. BNO - Dividend Comparison
DEHP's dividend yield for the trailing twelve months is around 1.32%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DEHP Dimensional Emerging Markets High Profitability ETF | 1.32% | 1.73% | 2.44% | 2.84% | 1.65% |
Frequently Asked Questions
DEHP and BNO have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (14.22%) compared to DEHP (9.93%). In terms of maximum drawdown, DEHP dropped -22.90% vs BNO's -87.06%.
On 3-year performance, BNO leads with 27.93% vs 25.54% for DEHP. On fees, DEHP is cheaper at 0.41% per year. On volatility, DEHP has been the lower-risk option at 9.93%. 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 27.93% return vs 25.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DEHP is cheaper with a 0.41% expense ratio, compared with 0.90% for BNO.
DEHP has the higher dividend yield at 1.32%, compared with 0.00% for BNO.
DEHP is categorized as Emerging Markets Diversified, while BNO is Oil & Gas. They also come from different issuers: Dimensional and Concierge Technologies. Their fees differ too: 0.41% for DEHP and 0.90% for BNO.
DEHP currently has the higher Sharpe Ratio (3.21 vs 2.23), 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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