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GGME vs. BNO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GGME vs. BNO

Last updated Jun 4, 2026

GGME (Invesco Next Gen Media and Gaming ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - GGME is a Technology Equities fund tracking the STOXX World AC NexGen Media Index - Benchmark TR Gross, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 10 years, GGME returned 10.45%/yr vs 13.60%/yr for BNO. At a 0.22 correlation, their price movements are largely independent. GGME charges 0.60%/yr vs 0.90%/yr for BNO.

Performance

GGME vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Next Gen Media and Gaming ETF (GGME) and United States Brent Oil Fund LP (BNO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, GGME achieves a 7.37% return, which is significantly lower than BNO's 90.47% return. Over the past 10 years, GGME has underperformed BNO with an annualized return of 10.45%, while BNO has yielded a comparatively higher 13.60% annualized return.

GGME

1D
-0.32%
1M
12.63%
YTD
7.37%
6M
5.66%
1Y
13.51%
3Y*
24.13%
5Y*
4.50%
10Y*
10.45%

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)

GGME vs. BNO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GGME
Invesco Next Gen Media and Gaming ETF		7.37%16.39%32.67%23.76%-36.43%10.68%36.26%20.28%1.97%7.61%
BNO
United States Brent Oil Fund LP		90.47%-5.44%9.67%-3.43%35.25%62.34%-38.23%36.01%-15.30%15.43%

Correlation

The correlation between GGME and BNO is -0.24, 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

-0.24

Correlation (3Y)
Calculated over the trailing 3-year period

-0.03

Correlation (5Y)
Calculated over the trailing 5-year period

0.09

Correlation (10Y)
Calculated over the trailing 10-year period

0.16

Correlation (All Time)
Calculated using the full available price history since Jun 3, 2010

0.22

The correlation between GGME and BNO shifts across timeframes, from -0.24 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco Next Gen Media and Gaming ETF

United States Brent Oil Fund LP

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Often compared with BNO:
BNO vs. USOBNO vs. XLEBNO vs. USLBNO vs. BOILBNO vs. UNGBNO vs. UCOBNO vs. XOM

Return for Risk

GGME vs. BNO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GGME
GGME Risk / Return Rank: 1919
Overall Rank
GGME Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
GGME Sortino Ratio Rank: 2121
Sortino Ratio Rank
GGME Omega Ratio Rank: 2121
Omega Ratio Rank
GGME Calmar Ratio Rank: 1616
Calmar Ratio Rank
GGME Martin Ratio Rank: 1515
Martin Ratio Rank
BNO
BNO Risk / Return Rank: 6565
Overall Rank
BNO Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
BNO Sortino Ratio Rank: 5656
Sortino Ratio Rank
BNO Omega Ratio Rank: 6060
Omega Ratio Rank
BNO Calmar Ratio Rank: 8888
Calmar Ratio Rank
BNO Martin Ratio Rank: 5555
Martin Ratio Rank
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.

GGME vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Next Gen Media and Gaming ETF (GGME) 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.

GGMEBNODifference
Sharpe ratioReturn per unit of total volatility
0.73
2.23

-1.50

Sortino ratioReturn per unit of downside risk
1.10
2.73

-1.63

Omega ratioGain probability vs. loss probability

1.14

1.38

-0.23

Calmar ratioReturn relative to maximum drawdown

0.54

5.17

-4.63

Martin ratioReturn relative to average drawdown

1.21

9.76

-8.55

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GGME vs. BNO - Sharpe Ratio Comparison

The current GGME Sharpe Ratio is 0.73, which is lower than the BNO Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of GGME 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.

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Sharpe Ratios by Period

GGMEBNODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.73

2.23

-1.50

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.19

0.69

-0.50

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

0.37

+0.08

Sharpe Ratio (All Time)

Calculated using the full available price history

0.34

0.14

+0.20

Drawdowns

GGME vs. BNO - Drawdown Comparison

The maximum GGME drawdown since its inception was -69.13%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for GGME and BNO.

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Drawdown Indicators

GGMEBNODifference

Max Drawdown

Largest peak-to-trough decline

-69.13%

-87.06%

+17.93%

Max Drawdown (1Y)

Largest decline over 1 year

-25.23%

-17.87%

-7.36%

Max Drawdown (3Y)

Largest decline over 3 years

-25.23%

-23.75%

-1.48%

Max Drawdown (5Y)

Largest decline over 5 years

-44.90%

-33.70%

-11.20%

Max Drawdown (10Y)

Largest decline over 10 years

-46.35%

-75.18%

+28.83%

Current Drawdown

Current decline from peak

-2.98%

-10.29%

+7.31%

Average Drawdown

Average peak-to-trough decline

-14.54%

-40.17%

+25.63%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.22%

9.45%

+1.77%

Volatility

GGME vs. BNO - Volatility Comparison

The current volatility for Invesco Next Gen Media and Gaming ETF (GGME) is 5.12%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that GGME 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

GGMEBNODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.12%

14.22%

-9.10%

Volatility (6M)

Calculated over the trailing 6-month period

14.30%

36.10%

-21.80%

Volatility (1Y)

Calculated over the trailing 1-year period

18.63%

41.46%

-22.83%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.16%

35.38%

-11.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.14%

36.68%

-13.54%

GGME vs. BNO - Expense Ratio Comparison

GGME has a 0.60% expense ratio, which is lower than BNO's 0.90% expense ratio.

Dividends

GGME vs. BNO - Dividend Comparison

GGME's dividend yield for the trailing twelve months is around 0.12%, while BNO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%0.00%0.00%
GGME
Invesco Next Gen Media and Gaming ETF		0.12%0.17%0.08%2.31%0.76%0.39%0.38%0.50%0.93%0.33%0.16%1.11%

Frequently Asked Questions

GGME and BNO have a correlation of -0.24, 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 GGME (5.12%). In terms of maximum drawdown, GGME dropped -69.13% vs BNO's -87.06%.

On 10-year performance, BNO leads with 13.60% vs 10.45% for GGME. On fees, GGME is cheaper at 0.60% per year. On volatility, GGME has been the lower-risk option at 5.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, BNO has performed better with a 13.60% return vs 10.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

GGME is cheaper with a 0.60% expense ratio, compared with 0.90% for BNO.

GGME has the higher dividend yield at 0.12%, compared with 0.00% for BNO.

GGME is categorized as Technology Equities, while BNO is Oil & Gas. GGME tracks STOXX World AC NexGen Media Index - Benchmark TR Gross, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: Invesco and Concierge Technologies. Their fees differ too: 0.60% for GGME and 0.90% for BNO.

BNO currently has the higher Sharpe Ratio (2.23 vs 0.73), 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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