FDN vs. BNO
FDN (First Trust Dow Jones Internet Index) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - FDN is a Large Cap Growth Equities fund tracking the Dow Jones Internet Index, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 10 years, FDN returned 14.33%/yr vs 13.13%/yr for BNO. At a 0.18 correlation, their price movements are largely independent. FDN charges 0.52%/yr vs 0.90%/yr for BNO.
Performance
FDN vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, FDN achieves a 4.35% return, which is significantly lower than BNO's 85.31% return. Over the past 10 years, FDN has outperformed BNO with an annualized return of 14.33%, while BNO has yielded a comparatively lower 13.13% annualized return.
FDN
- 1D
- 0.16%
- 1M
- 4.90%
- YTD
- 4.35%
- 6M
- 3.44%
- 1Y
- 9.38%
- 3Y*
- 20.62%
- 5Y*
- 4.28%
- 10Y*
- 14.33%
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%
FDN vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FDN First Trust Dow Jones Internet Index | 4.35% | 10.70% | 30.35% | 51.48% | -45.54% | 6.55% | 52.55% | 19.25% | 6.17% | 37.64% |
BNO United States Brent Oil Fund LP | 85.31% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | -38.23% | 36.01% | -15.30% | 15.43% |
Correlation
The correlation between FDN and BNO is -0.19, 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 | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2010 | 0.18 |
The correlation between FDN and BNO shifts across timeframes, from -0.19 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FDN vs. BNO — Risk / Return Rank
FDN
BNO
FDN vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Dow Jones Internet Index (FDN) 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.
| FDN | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -1.87 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.36 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.44 | 4.99 | -4.55 |
| Martin ratioReturn relative to average drawdown | 1.13 | 9.39 | -8.26 |
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
| FDN | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.50 | 2.15 | -1.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.67 | -0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.36 | +0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.14 | +0.41 |
Drawdowns
FDN vs. BNO - Drawdown Comparison
The maximum FDN drawdown since its inception was -61.55%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for FDN and BNO.
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Drawdown Indicators
| FDN | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.55% | -87.06% | +25.51% |
Max Drawdown (1Y)Largest decline over 1 year | -21.31% | -17.87% | -3.44% |
Max Drawdown (3Y)Largest decline over 3 years | -24.98% | -23.75% | -1.23% |
Max Drawdown (5Y)Largest decline over 5 years | -53.97% | -33.70% | -20.27% |
Max Drawdown (10Y)Largest decline over 10 years | -53.97% | -75.18% | +21.21% |
Current DrawdownCurrent decline from peak | -3.06% | -12.72% | +9.66% |
Average DrawdownAverage peak-to-trough decline | -11.82% | -40.16% | +28.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.35% | 9.48% | -1.13% |
Volatility
FDN vs. BNO - Volatility Comparison
The current volatility for First Trust Dow Jones Internet Index (FDN) is 5.14%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.12%. This indicates that FDN 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
| FDN | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.14% | 14.12% | -8.98% |
Volatility (6M)Calculated over the trailing 6-month period | 14.42% | 36.21% | -21.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.03% | 41.56% | -22.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.24% | 35.40% | -8.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.60% | 36.69% | -11.09% |
FDN vs. BNO - Expense Ratio Comparison
FDN has a 0.52% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
FDN vs. BNO - Dividend Comparison
Neither FDN nor BNO has paid dividends to shareholders.
Frequently Asked Questions
FDN and BNO have a correlation of -0.19, 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 FDN (5.14%). In terms of maximum drawdown, FDN dropped -61.55% vs BNO's -87.06%.
On 10-year performance, FDN leads with 14.33% vs 13.13% for BNO. On fees, FDN is cheaper at 0.52% per year. On volatility, FDN has been the lower-risk option at 5.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FDN has performed better with a 14.33% return vs 13.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FDN is cheaper with a 0.52% expense ratio, compared with 0.90% for BNO.
FDN and BNO have nearly identical dividend yields, around 0.00%.
FDN is categorized as Large Cap Growth Equities, while BNO is Oil & Gas. FDN tracks Dow Jones Internet Index, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: First Trust and Concierge Technologies. Their fees differ too: 0.52% for FDN and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.15 vs 0.50), 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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