FDRV vs. BNO
FDRV (Fidelity Electric Vehicles and Future Transportation ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - FDRV is a Transportation Equities fund actively managed by Fidelity, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. FDRV is actively managed, while BNO is passively managed. Over the past 3 years, FDRV returned 2.61%/yr vs 19.32%/yr for BNO. At a 0.08 correlation, their price movements are largely independent. FDRV charges 0.39%/yr vs 1.00%/yr for BNO.
Performance
FDRV vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, FDRV achieves a 17.13% return, which is significantly lower than BNO's 50.21% return.
FDRV
- 1D
- -4.46%
- 1M
- -4.34%
- YTD
- 17.13%
- 6M
- 15.44%
- 1Y
- 34.83%
- 3Y*
- 2.61%
- 5Y*
- —
- 10Y*
- —
BNO
- 1D
- -1.35%
- 1M
- -22.65%
- YTD
- 50.21%
- 6M
- 47.81%
- 1Y
- 38.79%
- 3Y*
- 19.32%
- 5Y*
- 17.15%
- 10Y*
- 11.25%
FDRV vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FDRV Fidelity Electric Vehicles and Future Transportation ETF | 17.13% | 24.32% | -21.73% | 12.27% | -44.23% | 7.10% |
BNO United States Brent Oil Fund LP | 50.21% | -5.44% | 9.67% | -3.43% | 35.25% | -1.88% |
Correlation
The correlation between FDRV and BNO is -0.21, 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 | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Oct 7, 2021 | 0.08 |
The correlation between FDRV and BNO shifts across timeframes, from -0.21 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FDRV vs. BNO — Risk / Return Rank
FDRV
BNO
FDRV vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Electric Vehicles and Future Transportation ETF (FDRV) 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.
| FDRV | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.19 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | 1.33 | +0.91 |
| Martin ratioReturn relative to average drawdown | 6.46 | 4.21 | +2.25 |
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Drawdowns
FDRV vs. BNO - Drawdown Comparison
The maximum FDRV drawdown since its inception was -63.89%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for FDRV and BNO.
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Drawdown Indicators
| FDRV | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.89% | -87.06% | +23.17% |
Max Drawdown (1Y)Largest decline over 1 year | -15.62% | -29.25% | +13.63% |
Max Drawdown (3Y)Largest decline over 3 years | -48.45% | -29.25% | -19.20% |
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 | -35.19% | -29.25% | -5.94% |
Average DrawdownAverage peak-to-trough decline | -42.21% | -40.10% | -2.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.41% | 9.28% | -3.87% |
Volatility
FDRV vs. BNO - Volatility Comparison
Fidelity Electric Vehicles and Future Transportation ETF (FDRV) has a higher volatility of 13.44% compared to United States Brent Oil Fund LP (BNO) at 10.92%. This indicates that FDRV's price experiences larger fluctuations and is considered to be riskier 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
| FDRV | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.44% | 10.92% | +2.52% |
Volatility (6M)Calculated over the trailing 6-month period | 21.70% | 37.29% | -15.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.09% | 41.67% | -14.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.28% | 35.65% | -3.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.28% | 36.68% | -4.40% |
FDRV vs. BNO - Expense Ratio Comparison
FDRV has a 0.39% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
FDRV vs. BNO - Dividend Comparison
FDRV's dividend yield for the trailing twelve months is around 1.22%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FDRV Fidelity Electric Vehicles and Future Transportation ETF | 1.22% | 1.14% | 0.43% | 0.24% | 0.33% | 0.04% |
Frequently Asked Questions
FDRV and BNO have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FDRV has higher volatility (13.44%) compared to BNO (10.92%). In terms of maximum drawdown, FDRV dropped -63.89% vs BNO's -87.06%.
On 3-year performance, BNO leads with 19.32% vs 2.61% for FDRV. On fees, FDRV is cheaper at 0.39% per year. On volatility, BNO has been the lower-risk option at 10.92%. 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 19.32% return vs 2.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FDRV is cheaper with a 0.39% expense ratio, compared with 1.00% for BNO.
FDRV has the higher dividend yield at 1.22%, compared with 0.00% for BNO.
FDRV is categorized as Transportation Equities, while BNO is Oil & Gas. They also come from different issuers: Fidelity and USCF Investments. Their fees differ too: 0.39% for FDRV and 1.00% for BNO.
FDRV currently has the higher Sharpe Ratio (1.29 vs 0.95), 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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