DJIA vs. BNO
DJIA (Global X Dow 30 Covered Call ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - DJIA is a Derivative Income fund tracking the DJIA Cboe BuyWrite v2 Index, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 3 years, DJIA returned 10.45%/yr vs 26.74%/yr for BNO. At a 0.01 correlation, their price movements are largely independent. DJIA charges 0.60%/yr vs 0.90%/yr for BNO.
Performance
DJIA vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, DJIA achieves a 3.46% return, which is significantly lower than BNO's 85.31% return.
DJIA
- 1D
- 0.00%
- 1M
- 3.03%
- YTD
- 3.46%
- 6M
- 3.90%
- 1Y
- 14.27%
- 3Y*
- 10.45%
- 5Y*
- —
- 10Y*
- —
BNO
- 1D
- -2.71%
- 1M
- -9.80%
- YTD
- 85.31%
- 6M
- 79.66%
- 1Y
- 88.71%
- 3Y*
- 26.74%
- 5Y*
- 23.48%
- 10Y*
- 13.13%
DJIA vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DJIA Global X Dow 30 Covered Call ETF | 3.46% | 9.11% | 14.52% | 9.15% | -2.80% |
BNO United States Brent Oil Fund LP | 85.31% | -5.44% | 9.67% | -3.43% | 6.68% |
Correlation
The correlation between DJIA and BNO is -0.27, 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 | -0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2022 | 0.01 |
The correlation between DJIA and BNO shifts across timeframes, from -0.27 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DJIA vs. BNO — Risk / Return Rank
DJIA
BNO
DJIA vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Dow 30 Covered Call ETF (DJIA) 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.
| DJIA | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.36 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 4.99 | -3.04 |
| Martin ratioReturn relative to average drawdown | 7.25 | 9.39 | -2.14 |
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
| DJIA | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.85 | 2.15 | -0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.67 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 0.14 | +0.55 |
Drawdowns
DJIA vs. BNO - Drawdown Comparison
The maximum DJIA drawdown since its inception was -16.91%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for DJIA and BNO.
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Drawdown Indicators
| DJIA | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.91% | -87.06% | +70.15% |
Max Drawdown (1Y)Largest decline over 1 year | -7.34% | -17.87% | +10.53% |
Max Drawdown (3Y)Largest decline over 3 years | -12.09% | -23.75% | +11.66% |
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 | -0.13% | -12.72% | +12.59% |
Average DrawdownAverage peak-to-trough decline | -3.59% | -40.16% | +36.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 9.48% | -7.51% |
Volatility
DJIA vs. BNO - Volatility Comparison
The current volatility for Global X Dow 30 Covered Call ETF (DJIA) is 1.66%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.12%. This indicates that DJIA 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
| DJIA | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | 14.12% | -12.46% |
Volatility (6M)Calculated over the trailing 6-month period | 6.24% | 36.21% | -29.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.74% | 41.56% | -33.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.19% | 35.40% | -24.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.19% | 36.69% | -25.50% |
DJIA vs. BNO - Expense Ratio Comparison
DJIA has a 0.60% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
DJIA vs. BNO - Dividend Comparison
DJIA's dividend yield for the trailing twelve months is around 10.82%, 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% |
DJIA Global X Dow 30 Covered Call ETF | 10.82% | 10.60% | 11.44% | 7.16% | 9.18% |
Frequently Asked Questions
DJIA and BNO have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (14.12%) compared to DJIA (1.66%). In terms of maximum drawdown, DJIA dropped -16.91% vs BNO's -87.06%.
On 3-year performance, BNO leads with 26.74% vs 10.45% for DJIA. On fees, DJIA is cheaper at 0.60% per year. On volatility, DJIA has been the lower-risk option at 1.66%. 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 26.74% return vs 10.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DJIA is cheaper with a 0.60% expense ratio, compared with 0.90% for BNO.
DJIA has the higher dividend yield at 10.82%, compared with 0.00% for BNO.
DJIA is categorized as Derivative Income, while BNO is Oil & Gas. DJIA tracks DJIA Cboe BuyWrite v2 Index, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: Global X and Concierge Technologies. Their fees differ too: 0.60% for DJIA and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.15 vs 1.85), 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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