FLIN vs. BNO
FLIN (Franklin FTSE India ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - FLIN is a Asia Pacific Equities fund tracking the FTSE India RIC Capped Index, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 5 years, FLIN returned 3.56%/yr vs 24.16%/yr for BNO. At a 0.09 correlation, their price movements are largely independent. FLIN charges 0.19%/yr vs 0.90%/yr for BNO.
Performance
FLIN vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, FLIN achieves a -11.92% return, which is significantly lower than BNO's 90.47% return.
FLIN
- 1D
- -1.51%
- 1M
- -2.58%
- YTD
- -11.92%
- 6M
- -10.85%
- 1Y
- -11.63%
- 3Y*
- 5.53%
- 5Y*
- 3.56%
- 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%
FLIN vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FLIN Franklin FTSE India ETF | -11.92% | 2.40% | 10.33% | 20.58% | -7.96% | 24.96% | 14.50% | 4.77% | -6.70% |
BNO United States Brent Oil Fund LP | 90.47% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | -38.23% | 36.01% | -12.55% |
Correlation
The correlation between FLIN and BNO is -0.34, 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 | -0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2018 | 0.09 |
The correlation between FLIN and BNO shifts across timeframes, from -0.34 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FLIN vs. BNO — Risk / Return Rank
FLIN
BNO
FLIN vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE India ETF (FLIN) 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.
| FLIN | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.01 | ||
| Sortino ratioReturn per unit of downside risk | -3.79 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.38 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | -0.62 | 5.17 | -5.79 |
| Martin ratioReturn relative to average drawdown | -1.54 | 9.76 | -11.30 |
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
| FLIN | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.78 | 2.23 | -3.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.69 | -0.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.14 | +0.12 |
Drawdowns
FLIN vs. BNO - Drawdown Comparison
The maximum FLIN drawdown since its inception was -41.90%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for FLIN and BNO.
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Drawdown Indicators
| FLIN | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.90% | -87.06% | +45.16% |
Max Drawdown (1Y)Largest decline over 1 year | -18.79% | -17.87% | -0.92% |
Max Drawdown (3Y)Largest decline over 3 years | -22.85% | -23.75% | +0.90% |
Max Drawdown (5Y)Largest decline over 5 years | -22.85% | -33.70% | +10.85% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -18.91% | -10.29% | -8.62% |
Average DrawdownAverage peak-to-trough decline | -8.01% | -40.17% | +32.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.57% | 9.45% | -1.88% |
Volatility
FLIN vs. BNO - Volatility Comparison
The current volatility for Franklin FTSE India ETF (FLIN) is 5.21%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that FLIN 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
| FLIN | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.21% | 14.22% | -9.01% |
Volatility (6M)Calculated over the trailing 6-month period | 12.81% | 36.10% | -23.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.92% | 41.46% | -26.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.74% | 35.38% | -19.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.45% | 36.68% | -16.23% |
FLIN vs. BNO - Expense Ratio Comparison
FLIN has a 0.19% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
FLIN vs. BNO - Dividend Comparison
FLIN's dividend yield for the trailing twelve months is around 0.64%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
FLIN Franklin FTSE India ETF | 0.64% | 0.56% | 1.58% | 0.73% | 0.73% | 2.26% | 0.68% | 0.90% | 0.92% |
Frequently Asked Questions
FLIN and BNO have a correlation of -0.34, 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 FLIN (5.21%). In terms of maximum drawdown, FLIN dropped -41.90% vs BNO's -87.06%.
On 5-year performance, BNO leads with 24.16% vs 3.56% for FLIN. On fees, FLIN is cheaper at 0.19% per year. On volatility, FLIN has been the lower-risk option at 5.21%. 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 3.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLIN is cheaper with a 0.19% expense ratio, compared with 0.90% for BNO.
FLIN has the higher dividend yield at 0.64%, compared with 0.00% for BNO.
FLIN is categorized as Asia Pacific Equities, while BNO is Oil & Gas. FLIN tracks FTSE India RIC Capped Index, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: Franklin Templeton and Concierge Technologies. Their fees differ too: 0.19% for FLIN and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.23 vs -0.78), 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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