EBIZ vs. BNO
EBIZ (Global X E-commerce ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - EBIZ is a Consumer Discretionary Equities fund tracking the Solactive E-commerce Index, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 5 years, EBIZ returned -3.65%/yr vs 24.16%/yr for BNO. At a 0.14 correlation, their price movements are largely independent. EBIZ charges 0.50%/yr vs 0.90%/yr for BNO.
Performance
EBIZ vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, EBIZ achieves a -15.29% return, which is significantly lower than BNO's 90.47% return.
EBIZ
- 1D
- -2.05%
- 1M
- -2.71%
- YTD
- -15.29%
- 6M
- -15.50%
- 1Y
- -8.74%
- 3Y*
- 17.16%
- 5Y*
- -3.65%
- 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%
EBIZ vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EBIZ Global X E-commerce ETF | -15.29% | 17.74% | 31.26% | 30.88% | -40.96% | -13.26% | 74.39% | 32.76% | -11.01% |
BNO United States Brent Oil Fund LP | 90.47% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | -38.23% | 36.01% | -8.26% |
Correlation
The correlation between EBIZ 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 | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2018 | 0.14 |
The correlation between EBIZ and BNO shifts across timeframes, from -0.27 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EBIZ vs. BNO — Risk / Return Rank
EBIZ
BNO
EBIZ vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X E-commerce ETF (EBIZ) 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.
| EBIZ | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.67 | ||
| Sortino ratioReturn per unit of downside risk | -3.22 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.38 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 5.17 | -5.49 |
| Martin ratioReturn relative to average drawdown | -0.65 | 9.76 | -10.41 |
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
| EBIZ | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.44 | 2.23 | -2.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.13 | 0.69 | -0.81 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.14 | +0.15 |
Drawdowns
EBIZ vs. BNO - Drawdown Comparison
The maximum EBIZ drawdown since its inception was -61.58%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for EBIZ and BNO.
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Drawdown Indicators
| EBIZ | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.58% | -87.06% | +25.48% |
Max Drawdown (1Y)Largest decline over 1 year | -27.73% | -17.87% | -9.86% |
Max Drawdown (3Y)Largest decline over 3 years | -27.73% | -23.75% | -3.98% |
Max Drawdown (5Y)Largest decline over 5 years | -58.21% | -33.70% | -24.51% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -25.77% | -10.29% | -15.48% |
Average DrawdownAverage peak-to-trough decline | -24.33% | -40.17% | +15.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.41% | 9.45% | +3.96% |
Volatility
EBIZ vs. BNO - Volatility Comparison
The current volatility for Global X E-commerce ETF (EBIZ) is 5.39%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that EBIZ 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
| EBIZ | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.39% | 14.22% | -8.83% |
Volatility (6M)Calculated over the trailing 6-month period | 15.01% | 36.10% | -21.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.82% | 41.46% | -21.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.90% | 35.38% | -6.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.68% | 36.68% | -8.00% |
EBIZ vs. BNO - Expense Ratio Comparison
EBIZ has a 0.50% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
EBIZ vs. BNO - Dividend Comparison
EBIZ's dividend yield for the trailing twelve months is around 0.60%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EBIZ Global X E-commerce ETF | 0.60% | 0.51% | 0.23% | 0.00% | 0.10% | 0.57% | 0.84% | 0.18% |
Frequently Asked Questions
EBIZ 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 (14.22%) compared to EBIZ (5.39%). In terms of maximum drawdown, EBIZ dropped -61.58% vs BNO's -87.06%.
On 5-year performance, BNO leads with 24.16% vs -3.65% for EBIZ. On fees, EBIZ is cheaper at 0.50% per year. On volatility, EBIZ has been the lower-risk option at 5.39%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BNO has performed better with a 24.16% return vs -3.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EBIZ is cheaper with a 0.50% expense ratio, compared with 0.90% for BNO.
EBIZ has the higher dividend yield at 0.60%, compared with 0.00% for BNO.
EBIZ is categorized as Consumer Discretionary Equities, while BNO is Oil & Gas. EBIZ tracks Solactive E-commerce Index, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: Global X and Concierge Technologies. Their fees differ too: 0.50% for EBIZ and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.23 vs -0.44), 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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