FNGS vs. BNO
FNGS (MicroSectors FANG+ ETN) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - FNGS is a Large Cap Growth Equities fund tracking the NYSE FANG+ Index, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 5 years, FNGS returned 21.41%/yr vs 23.48%/yr for BNO. At a 0.10 correlation, their price movements are largely independent. FNGS charges 0.58%/yr vs 0.90%/yr for BNO.
Performance
FNGS vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, FNGS achieves a 13.45% return, which is significantly lower than BNO's 85.31% return.
FNGS
- 1D
- -2.42%
- 1M
- 7.85%
- YTD
- 13.45%
- 6M
- 8.38%
- 1Y
- 26.37%
- 3Y*
- 33.92%
- 5Y*
- 21.41%
- 10Y*
- —
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%
FNGS vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FNGS MicroSectors FANG+ ETN | 13.45% | 18.64% | 51.99% | 95.24% | -40.32% | 16.96% | 101.99% | 10.91% |
BNO United States Brent Oil Fund LP | 85.31% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | -38.23% | 8.48% |
Correlation
The correlation between FNGS 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 (All Time) Calculated using the full available price history since Nov 14, 2019 | 0.10 |
The correlation between FNGS and BNO shifts across timeframes, from -0.19 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FNGS vs. BNO — Risk / Return Rank
FNGS
BNO
FNGS vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ ETN (FNGS) 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.
| FNGS | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.36 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 4.99 | -3.83 |
| Martin ratioReturn relative to average drawdown | 3.33 | 9.39 | -6.05 |
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
| FNGS | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 2.15 | -0.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.72 | 0.67 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.04 | 0.14 | +0.91 |
Drawdowns
FNGS vs. BNO - Drawdown Comparison
The maximum FNGS drawdown since its inception was -48.98%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for FNGS and BNO.
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Drawdown Indicators
| FNGS | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.98% | -87.06% | +38.08% |
Max Drawdown (1Y)Largest decline over 1 year | -22.93% | -17.87% | -5.06% |
Max Drawdown (3Y)Largest decline over 3 years | -26.77% | -23.75% | -3.02% |
Max Drawdown (5Y)Largest decline over 5 years | -48.98% | -33.70% | -15.28% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -3.99% | -12.72% | +8.73% |
Average DrawdownAverage peak-to-trough decline | -10.86% | -40.16% | +29.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.93% | 9.48% | -1.55% |
Volatility
FNGS vs. BNO - Volatility Comparison
The current volatility for MicroSectors FANG+ ETN (FNGS) is 6.36%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.12%. This indicates that FNGS 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
| FNGS | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.36% | 14.12% | -7.76% |
Volatility (6M)Calculated over the trailing 6-month period | 15.88% | 36.21% | -20.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.64% | 41.56% | -20.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.97% | 35.40% | -5.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.13% | 36.69% | -5.56% |
FNGS vs. BNO - Expense Ratio Comparison
FNGS has a 0.58% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
FNGS vs. BNO - Dividend Comparison
Neither FNGS nor BNO has paid dividends to shareholders.
Frequently Asked Questions
FNGS 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 FNGS (6.36%). In terms of maximum drawdown, FNGS dropped -48.98% vs BNO's -87.06%.
On 5-year performance, BNO leads with 23.48% vs 21.41% for FNGS. On fees, FNGS is cheaper at 0.58% per year. On volatility, FNGS has been the lower-risk option at 6.36%. 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 23.48% return vs 21.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FNGS is cheaper with a 0.58% expense ratio, compared with 0.90% for BNO.
FNGS and BNO have nearly identical dividend yields, around 0.00%.
FNGS is categorized as Large Cap Growth Equities, while BNO is Oil & Gas. FNGS tracks NYSE FANG+ Index, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: BMO and Concierge Technologies. Their fees differ too: 0.58% for FNGS and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.15 vs 1.28), 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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