DFJ vs. BNO
DFJ (WisdomTree Japan SmallCap Dividend Fund) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - DFJ is a Japan Equities fund tracking the WisdomTree Japan SmallCap Dividend Index, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. Both are passively managed. Over the past 10 years, DFJ returned 8.80%/yr vs 15.06%/yr for BNO. Their 0.17 correlation means their historical movements had little consistent relationship. DFJ charges 0.58%/yr vs 1.00%/yr for BNO.
Performance
DFJ vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, DFJ achieves a 12.43% return, which is significantly lower than BNO's 77.90% return. Over the past 10 years, DFJ has underperformed BNO with an annualized return of 8.80%, while BNO has yielded a comparatively higher 15.06% annualized return.
DFJ
- 1D
- -0.21%
- 1M
- -0.56%
- 6M
- 5.79%
- YTD
- 12.43%
- 1Y
- 23.77%
- 3Y*
- 18.59%
- 5Y*
- 10.25%
- 10Y*
- 8.80%
- ALL TIME*
- 5.90%
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 | |
| $4.27M | $3.89M | $3.95M |
DFJ vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFJ WisdomTree Japan SmallCap Dividend Fund | 12.43% | 31.90% | 2.80% | 21.81% | -9.00% | 0.38% | 1.29% | 16.98% | -18.53% | 32.14% |
BNO United States Brent Oil Fund LP | 77.90% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | -38.23% | 36.01% | -15.30% | 15.43% |
Correlation
The correlation between DFJ and BNO is -0.28, 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. | -0.28 |
Correlation (3Y) Balances recent behavior with more history. | -0.10 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.03 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jun 2, 2010 | 0.17 |
The correlation between DFJ and BNO shifts across timeframes, from -0.28 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DFJ vs. BNO — Risk / Return Rank
DFJ
BNO
DFJ vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan SmallCap Dividend Fund (DFJ) 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.
| DFJ | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.24 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 1.70 | +0.34 |
| Martin ratioReturn relative to average drawdown | 5.39 | 5.15 | +0.24 |
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Drawdowns
DFJ vs. BNO - Drawdown Comparison
The maximum DFJ drawdown since its inception was -46.00%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for DFJ and BNO.
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Drawdown Indicators
| DFJ | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.00% | -87.06% | +41.06% |
Max Drawdown (1Y)Largest decline over 1 year | -13.03% | -34.46% | +21.43% |
Max Drawdown (3Y)Largest decline over 3 years | -13.03% | -34.46% | +21.43% |
Max Drawdown (5Y)Largest decline over 5 years | -29.71% | -34.46% | +4.75% |
Max Drawdown (10Y)Largest decline over 10 years | -40.02% | -75.18% | +35.16% |
Current DrawdownCurrent decline from peak | -4.04% | -16.21% | +12.17% |
Average DrawdownAverage peak-to-trough decline | -11.10% | -39.99% | +28.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.91% | 11.86% | -6.95% |
Volatility
DFJ vs. BNO - Volatility Comparison
The current volatility for WisdomTree Japan SmallCap Dividend Fund (DFJ) is 6.34%, while United States Brent Oil Fund LP (BNO) has a volatility of 17.47%. This indicates that DFJ 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
| DFJ | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.34% | 17.47% | -11.13% |
Volatility (6M)Calculated over the trailing 6-month period | 14.82% | 40.96% | -26.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.57% | 44.54% | -26.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 36.41% | -20.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.00% | 36.98% | -19.98% |
DFJ vs. BNO - Expense Ratio Comparison
DFJ has a 0.58% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
DFJ vs. BNO - Dividend Comparison
DFJ's dividend yield for the trailing twelve months is around 2.61%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DFJ WisdomTree Japan SmallCap Dividend Fund | 2.61% | 2.68% | 2.46% | 2.43% | 2.62% | 2.07% | 2.59% | 2.24% | 1.89% | 1.60% | 1.76% | 1.23% |
Frequently Asked Questions
DFJ 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 (17.47%) compared to DFJ (6.34%). In terms of maximum drawdown, DFJ dropped -46.00% vs BNO's -87.06%.
On 10-year performance, BNO leads with 15.06% vs 8.80% for DFJ. On fees, DFJ is cheaper at 0.58% per year. On volatility, DFJ has been the lower-risk option at 6.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BNO has performed better with a 15.06% return vs 8.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DFJ is cheaper with a 0.58% expense ratio, compared with 1.00% for BNO.
DFJ has the higher dividend yield at 2.61%, compared with 0.00% for BNO.
DFJ is categorized as Japan Equities, while BNO is Oil & Gas. DFJ tracks WisdomTree Japan SmallCap Dividend Index, while BNO tracks Crude Oil Brent ICE Near Term Futures. They also come from different issuers: WisdomTree and USCF. Their fees differ too: 0.58% for DFJ and 1.00% for BNO.
DFJ currently has the higher Sharpe Ratio (1.51 vs 1.32), 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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