HERO vs. BNO
HERO (Global X Video Games & Esports ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - HERO is a Large Cap Growth Equities fund tracking the Solactive Video Games & Esports Index, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 5 years, HERO returned -3.89%/yr vs 23.48%/yr for BNO. At a 0.09 correlation, their price movements are largely independent. HERO charges 0.50%/yr vs 0.90%/yr for BNO.
Performance
HERO vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, HERO achieves a -14.99% return, which is significantly lower than BNO's 85.31% return.
HERO
- 1D
- -1.38%
- 1M
- -4.04%
- YTD
- -14.99%
- 6M
- -17.25%
- 1Y
- -15.17%
- 3Y*
- 9.00%
- 5Y*
- -3.89%
- 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%
HERO vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HERO Global X Video Games & Esports ETF | -14.99% | 28.74% | 17.65% | 8.36% | -33.42% | -8.37% | 91.02% | 9.12% |
BNO United States Brent Oil Fund LP | 85.31% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | -38.23% | 14.00% |
Correlation
The correlation between HERO and BNO is -0.21, 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 | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2019 | 0.09 |
The correlation between HERO and BNO shifts across timeframes, from -0.21 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HERO vs. BNO — Risk / Return Rank
HERO
BNO
HERO vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Video Games & Esports ETF (HERO) 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.
| HERO | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.93 | ||
| Sortino ratioReturn per unit of downside risk | -3.63 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.36 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.57 | 4.99 | -5.56 |
| Martin ratioReturn relative to average drawdown | -1.07 | 9.39 | -10.46 |
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
| HERO | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.78 | 2.15 | -2.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.17 | 0.67 | -0.83 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.14 | +0.24 |
Drawdowns
HERO vs. BNO - Drawdown Comparison
The maximum HERO drawdown since its inception was -54.02%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for HERO and BNO.
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Drawdown Indicators
| HERO | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.02% | -87.06% | +33.04% |
Max Drawdown (1Y)Largest decline over 1 year | -26.64% | -17.87% | -8.77% |
Max Drawdown (3Y)Largest decline over 3 years | -26.64% | -23.75% | -2.89% |
Max Drawdown (5Y)Largest decline over 5 years | -48.44% | -33.70% | -14.74% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -28.47% | -12.72% | -15.75% |
Average DrawdownAverage peak-to-trough decline | -25.97% | -40.16% | +14.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.20% | 9.48% | +4.72% |
Volatility
HERO vs. BNO - Volatility Comparison
The current volatility for Global X Video Games & Esports ETF (HERO) is 5.28%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.12%. This indicates that HERO 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
| HERO | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.28% | 14.12% | -8.84% |
Volatility (6M)Calculated over the trailing 6-month period | 15.14% | 36.21% | -21.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.57% | 41.56% | -21.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.36% | 35.40% | -12.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.50% | 36.69% | -12.19% |
HERO vs. BNO - Expense Ratio Comparison
HERO has a 0.50% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
HERO vs. BNO - Dividend Comparison
HERO's dividend yield for the trailing twelve months is around 1.91%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HERO Global X Video Games & Esports ETF | 1.91% | 1.62% | 1.06% | 0.73% | 0.28% | 0.79% | 0.71% | 0.17% |
Frequently Asked Questions
HERO and BNO have a correlation of -0.21, 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 HERO (5.28%). In terms of maximum drawdown, HERO dropped -54.02% vs BNO's -87.06%.
On 5-year performance, BNO leads with 23.48% vs -3.89% for HERO. On fees, HERO is cheaper at 0.50% per year. On volatility, HERO has been the lower-risk option at 5.28%. 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 -3.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HERO is cheaper with a 0.50% expense ratio, compared with 0.90% for BNO.
HERO has the higher dividend yield at 1.91%, compared with 0.00% for BNO.
HERO is categorized as Large Cap Growth Equities, while BNO is Oil & Gas. HERO tracks Solactive Video Games & Esports Index, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: Global X and Concierge Technologies. Their fees differ too: 0.50% for HERO and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.15 vs -0.78), 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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