GEND vs. BNO

Last updated Jun 24, 2026

GEND (Genter Capital Dividend Income ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - GEND is a Large Cap Value Equities fund actively managed by Genter Capital, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. GEND is actively managed, while BNO is passively managed. Over the past year, GEND returned 23.74% vs 38.79% for BNO. At a 0.00 correlation, their price movements are largely independent. GEND charges 0.38%/yr vs 1.00%/yr for BNO.

Performance

GEND vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Genter Capital Dividend Income ETF (GEND) and United States Brent Oil Fund LP (BNO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GEND achieves a 12.06% return, which is significantly lower than BNO's 50.21% return.

GEND

• 1D: 0.47%
• 1M: -1.37%
• YTD: 12.06%
• 6M: 11.27%
• 1Y: 23.74%
• 3Y*: —
• 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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GEND vs. BNO - Yearly Performance Comparison

	2026 (YTD)	2025
GEND Genter Capital Dividend Income ETF	12.06%	16.84%
BNO United States Brent Oil Fund LP	50.21%	-12.10%

Correlation

The correlation between GEND and BNO is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.08
Correlation (All Time) Calculated using the full available price history since Jan 13, 2025	0.00

Return for Risk

GEND vs. BNO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GEND

GEND Risk / Return Rank: 77
GEND Sharpe Ratio Rank: 77
GEND Sortino Ratio Rank: 80
GEND Omega Ratio Rank: 72
GEND Calmar Ratio Rank: 79
GEND Martin Ratio Rank: 77

BNO

BNO Risk / Return Rank: 29
BNO Sharpe Ratio Rank: 27
BNO Sortino Ratio Rank: 28
BNO Omega Ratio Rank: 29
BNO Calmar Ratio Rank: 28
BNO Martin Ratio Rank: 31

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GEND vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Genter Capital Dividend Income ETF (GEND) 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.

	GEND	BNO	Difference
Sharpe ratio: Return per unit of total volatility	2.22	0.95	+1.27
Sortino ratio: Return per unit of downside risk	3.21	1.49	+1.72
Omega ratio: Gain probability vs. loss probability	1.39	1.19	+0.19
Calmar ratio: Return relative to maximum drawdown	3.73	1.33	+2.40
Martin ratio: Return relative to average drawdown	13.35	4.21	+9.14

GEND vs. BNO - Sharpe Ratio Comparison

The current GEND Sharpe Ratio is 2.22, which is higher than the BNO Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of GEND and BNO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GEND vs. BNO - Drawdown Comparison

The maximum GEND drawdown since its inception was -13.31%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for GEND and BNO.

Drawdown Indicators

	GEND	BNO	Difference
Max Drawdown Largest peak-to-trough decline	-13.31%	-87.06%	+73.75%
Max Drawdown (1Y) Largest decline over 1 year	-6.40%	-29.25%	+22.85%
Max Drawdown (3Y) Largest decline over 3 years	—	-29.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.70%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.18%	—
Current Drawdown Current decline from peak	-1.52%	-29.25%	+27.73%
Average Drawdown Average peak-to-trough decline	-1.85%	-40.10%	+38.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	9.28%	-7.50%

Volatility

GEND vs. BNO - Volatility Comparison

The current volatility for Genter Capital Dividend Income ETF (GEND) is 3.38%, while United States Brent Oil Fund LP (BNO) has a volatility of 10.92%. This indicates that GEND 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.

Volatility by Period

	GEND	BNO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	10.92%	-7.54%
Volatility (6M) Calculated over the trailing 6-month period	8.01%	37.29%	-29.28%
Volatility (1Y) Calculated over the trailing 1-year period	10.76%	41.67%	-30.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.08%	35.65%	-21.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.08%	36.68%	-22.60%

GEND vs. BNO - Expense Ratio Comparison

GEND has a 0.38% expense ratio, which is lower than BNO's 1.00% expense ratio.

Dividends

GEND vs. BNO - Dividend Comparison

GEND's dividend yield for the trailing twelve months is around 2.73%, while BNO has not paid dividends to shareholders.

Position	TTM	2025
BNO United States Brent Oil Fund LP	0.00%	0.00%
GEND Genter Capital Dividend Income ETF	2.73%	2.10%

Frequently Asked Questions

Can I hold both GEND and BNO in my portfolio?

GEND and BNO have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GEND or BNO?

BNO has higher volatility (10.92%) compared to GEND (3.38%). In terms of maximum drawdown, GEND dropped -13.31% vs BNO's -87.06%.

Which ETF is better, GEND or BNO?

On 1-year performance, BNO leads with 38.79% vs 23.74% for GEND. On fees, GEND is cheaper at 0.38% per year. On volatility, GEND has been the lower-risk option at 3.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GEND or BNO?

Over the 1-year period, BNO has performed better with a 38.79% return vs 23.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GEND or BNO?

GEND is cheaper with a 0.38% expense ratio, compared with 1.00% for BNO.

Which ETF pays a higher dividend yield, GEND or BNO?

GEND has the higher dividend yield at 2.73%, compared with 0.00% for BNO.

What is the main difference between GEND and BNO?

GEND is categorized as Large Cap Value Equities, while BNO is Oil & Gas. They also come from different issuers: Genter Capital and USCF Investments. Their fees differ too: 0.38% for GEND and 1.00% for BNO.

Which has better risk-adjusted returns?

GEND currently has the higher Sharpe Ratio (2.22 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.