GEVG vs. BNO

Last updated Jun 4, 2026

GEVG (Leverage Shares 2X Long GEV Daily ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - GEVG is a Leveraged Equities fund actively managed by Leverage Shares, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. GEVG is actively managed, while BNO is passively managed. At a correlation of -0.26, they often move in opposite directions. GEVG charges 0.75%/yr vs 0.90%/yr for BNO.

Performance

GEVG vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long GEV Daily ETF (GEVG) and United States Brent Oil Fund LP (BNO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with GEVG having a 88.18% return and BNO slightly higher at 90.47%.

GEVG

• 1D: -2.09%
• 1M: -22.22%
• YTD: 88.18%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 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%

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

GEVG vs. BNO - Yearly Performance Comparison

	2026 (YTD)	2025
GEVG Leverage Shares 2X Long GEV Daily ETF	88.18%	-11.09%
BNO United States Brent Oil Fund LP	90.47%	4.12%

Correlation

The correlation between GEVG and BNO is -0.26, 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 (All Time) Calculated using the full available price history since Dec 17, 2025	-0.26

Return for Risk

GEVG vs. BNO — Risk / Return Rank

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

BNO

BNO Risk / Return Rank: 65
BNO Sharpe Ratio Rank: 66
BNO Sortino Ratio Rank: 56
BNO Omega Ratio Rank: 60
BNO Calmar Ratio Rank: 88
BNO Martin Ratio Rank: 55

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.

GEVG vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long GEV Daily ETF (GEVG) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GEVG	BNO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.23	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.69	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.37	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.17	0.14	+2.03

Drawdowns

GEVG vs. BNO - Drawdown Comparison

The maximum GEVG drawdown since its inception was -33.81%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for GEVG and BNO.

Drawdown Indicators

	GEVG	BNO	Difference
Max Drawdown Largest peak-to-trough decline	-33.81%	-87.06%	+53.25%
Max Drawdown (1Y) Largest decline over 1 year	—	-17.87%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-23.75%	—
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	-32.62%	-10.29%	-22.33%
Average Drawdown Average peak-to-trough decline	-9.25%	-40.17%	+30.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	9.45%	—

Volatility

Volatility by Period

	GEVG	BNO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.22%	—
Volatility (6M) Calculated over the trailing 6-month period	—	36.10%	—
Volatility (1Y) Calculated over the trailing 1-year period	96.61%	41.46%	+55.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	96.61%	35.38%	+61.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	96.61%	36.68%	+59.93%

GEVG vs. BNO - Expense Ratio Comparison

GEVG has a 0.75% expense ratio, which is lower than BNO's 0.90% expense ratio.

Dividends

GEVG vs. BNO - Dividend Comparison

Neither GEVG nor BNO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GEVG and BNO in my portfolio?

GEVG and BNO have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GEVG or BNO?

On fees, GEVG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GEVG or BNO?

GEVG is cheaper with a 0.75% expense ratio, compared with 0.90% for BNO.

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

GEVG and BNO have nearly identical dividend yields, around 0.00%.

What is the main difference between GEVG and BNO?

GEVG is categorized as Leveraged Equities, while BNO is Oil & Gas. They also come from different issuers: Leverage Shares and Concierge Technologies. Their fees differ too: 0.75% for GEVG and 0.90% for BNO.