GGUS vs. BNO
GGUS (Goldman Sachs MarketBeta Russell 1000 Growth Equity ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - GGUS is a Large Cap Growth Equities fund tracking the Russell 1000 Growth 40 Act Daily Capped 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 year, GGUS returned 23.97% vs 91.89% for BNO. At a correlation of -0.07, they often move in opposite directions. GGUS charges 0.12%/yr vs 0.90%/yr for BNO.
Performance
GGUS vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, GGUS achieves a 7.56% return, which is significantly lower than BNO's 90.47% return.
GGUS
- 1D
- -1.06%
- 1M
- 6.20%
- YTD
- 7.56%
- 6M
- 7.02%
- 1Y
- 23.97%
- 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%
GGUS vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GGUS Goldman Sachs MarketBeta Russell 1000 Growth Equity ETF | 7.56% | 17.32% | 30.88% | 4.54% |
BNO United States Brent Oil Fund LP | 90.47% | -5.44% | 9.67% | -3.94% |
Correlation
The correlation between GGUS and BNO is -0.30, 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 | -0.30 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2023 | -0.07 |
Over the past year, the inverse relationship between GGUS and BNO has strengthened: their correlation has moved from -0.07 to -0.30, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
GGUS vs. BNO — Risk / Return Rank
GGUS
BNO
GGUS vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs MarketBeta Russell 1000 Growth Equity ETF (GGUS) 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.
| GGUS | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.38 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 5.17 | -3.55 |
| Martin ratioReturn relative to average drawdown | 5.55 | 9.76 | -4.21 |
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
| GGUS | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.61 | 2.23 | -0.62 |
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 | 1.30 | 0.14 | +1.15 |
Drawdowns
GGUS vs. BNO - Drawdown Comparison
The maximum GGUS drawdown since its inception was -22.59%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for GGUS and BNO.
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Drawdown Indicators
| GGUS | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.59% | -87.06% | +64.47% |
Max Drawdown (1Y)Largest decline over 1 year | -14.91% | -17.87% | +2.96% |
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 DrawdownCurrent decline from peak | -1.28% | -10.29% | +9.01% |
Average DrawdownAverage peak-to-trough decline | -3.20% | -40.17% | +36.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.33% | 9.45% | -5.12% |
Volatility
GGUS vs. BNO - Volatility Comparison
The current volatility for Goldman Sachs MarketBeta Russell 1000 Growth Equity ETF (GGUS) is 3.41%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that GGUS 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
| GGUS | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.41% | 14.22% | -10.81% |
Volatility (6M)Calculated over the trailing 6-month period | 11.30% | 36.10% | -24.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.00% | 41.46% | -26.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.96% | 35.38% | -16.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.96% | 36.68% | -17.72% |
GGUS vs. BNO - Expense Ratio Comparison
GGUS has a 0.12% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
GGUS vs. BNO - Dividend Comparison
GGUS's dividend yield for the trailing twelve months is around 0.41%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
GGUS Goldman Sachs MarketBeta Russell 1000 Growth Equity ETF | 0.41% | 0.43% | 0.68% | 0.00% |
Frequently Asked Questions
GGUS and BNO have a correlation of -0.30, 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 GGUS (3.41%). In terms of maximum drawdown, GGUS dropped -22.59% vs BNO's -87.06%.
On 1-year performance, BNO leads with 91.89% vs 23.97% for GGUS. On fees, GGUS is cheaper at 0.12% per year. On volatility, GGUS has been the lower-risk option at 3.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BNO has performed better with a 91.89% return vs 23.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GGUS is cheaper with a 0.12% expense ratio, compared with 0.90% for BNO.
GGUS has the higher dividend yield at 0.41%, compared with 0.00% for BNO.
GGUS is categorized as Large Cap Growth Equities, while BNO is Oil & Gas. GGUS tracks Russell 1000 Growth 40 Act Daily Capped Index - Benchmark TR Gross, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: Goldman Sachs and Concierge Technologies. Their fees differ too: 0.12% for GGUS and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.23 vs 1.61), 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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