DPST vs. BNO
DPST (Direxion Daily Regional Banks Bull 3X Shares) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - DPST is a Leveraged Equities fund tracking the Solactive US Regional Banks Total Return Index (300%), 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, DPST returned -11.01%/yr vs 15.06%/yr for BNO. Their 0.16 correlation means their historical movements had little consistent relationship. DPST charges 0.99%/yr vs 1.00%/yr for BNO.
Performance
DPST vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, DPST achieves a 45.96% return, which is significantly lower than BNO's 77.90% return. Over the past 10 years, DPST has underperformed BNO with an annualized return of -11.01%, while BNO has yielded a comparatively higher 15.06% annualized return.
DPST
- 1D
- 0.85%
- 1M
- 2.62%
- 6M
- 24.97%
- YTD
- 45.96%
- 1Y
- 81.17%
- 3Y*
- 22.15%
- 5Y*
- -14.99%
- 10Y*
- -11.01%
- ALL TIME*
- -12.97%
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 | |
| $35.57M | $38.84M | $44.12M |
DPST vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DPST Direxion Daily Regional Banks Bull 3X Shares | 45.96% | -5.90% | 15.48% | -55.79% | -54.10% | 108.31% | -76.53% | 70.65% | -56.75% | 7.28% |
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 DPST and BNO is -0.25, 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. | -0.25 |
Correlation (3Y) Balances recent behavior with more history. | -0.06 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.07 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.14 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2015 | 0.16 |
The correlation between DPST and BNO shifts across timeframes, from -0.25 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DPST vs. BNO — Risk / Return Rank
DPST
BNO
DPST vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Regional Banks Bull 3X Shares (DPST) 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.
| DPST | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.24 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 1.70 | +0.03 |
| Martin ratioReturn relative to average drawdown | 3.92 | 5.15 | -1.23 |
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Drawdowns
DPST vs. BNO - Drawdown Comparison
The maximum DPST drawdown since its inception was -97.73%, which is greater than BNO's maximum drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for DPST and BNO.
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Drawdown Indicators
| DPST | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.73% | -87.06% | -10.67% |
Max Drawdown (1Y)Largest decline over 1 year | -40.44% | -34.46% | -5.98% |
Max Drawdown (3Y)Largest decline over 3 years | -68.38% | -34.46% | -33.92% |
Max Drawdown (5Y)Largest decline over 5 years | -93.99% | -34.46% | -59.53% |
Max Drawdown (10Y)Largest decline over 10 years | -97.73% | -75.18% | -22.55% |
Current DrawdownCurrent decline from peak | -91.06% | -16.21% | -74.85% |
Average DrawdownAverage peak-to-trough decline | -64.52% | -39.99% | -24.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.85% | 11.86% | +5.99% |
Volatility
DPST vs. BNO - Volatility Comparison
The current volatility for Direxion Daily Regional Banks Bull 3X Shares (DPST) is 16.37%, while United States Brent Oil Fund LP (BNO) has a volatility of 17.47%. This indicates that DPST 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
| DPST | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.37% | 17.47% | -1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 46.05% | 40.96% | +5.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.21% | 44.54% | +23.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 88.35% | 36.41% | +51.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 94.21% | 36.98% | +57.23% |
DPST vs. BNO - Expense Ratio Comparison
DPST has a 0.99% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
DPST vs. BNO - Dividend Comparison
DPST's dividend yield for the trailing twelve months is around 1.50%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
DPST Direxion Daily Regional Banks Bull 3X Shares | 1.50% | 2.18% | 1.55% | 1.78% | 1.51% | 0.58% | 0.90% | 1.29% | 2.18% | 0.30% |
Frequently Asked Questions
DPST and BNO have a correlation of -0.25, 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 DPST (16.37%). In terms of maximum drawdown, DPST dropped -97.73% vs BNO's -87.06%.
On 10-year performance, BNO leads with 15.06% vs -11.01% for DPST. On fees, DPST is cheaper at 0.99% per year. On volatility, DPST has been the lower-risk option at 16.37%. 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 -11.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DPST is cheaper with a 0.99% expense ratio, compared with 1.00% for BNO.
DPST has the higher dividend yield at 1.50%, compared with 0.00% for BNO.
DPST is categorized as Leveraged Equities, while BNO is Oil & Gas. DPST tracks Solactive US Regional Banks Total Return Index (300%), while BNO tracks Crude Oil Brent ICE Near Term Futures. They also come from different issuers: Direxion and USCF. Their fees differ too: 0.99% for DPST and 1.00% for BNO.
BNO currently has the higher Sharpe Ratio (1.32 vs 1.03), 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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