PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
IJS vs. BNO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IJS vs. BNO

Last updated Jun 5, 2026

IJS (iShares S&P SmallCap 600 Value ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - IJS is a Small Cap Value Equities fund tracking the S&P SmallCap 600/Citigroup Value Index, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 10 years, IJS returned 10.07%/yr vs 13.13%/yr for BNO. At a 0.27 correlation, their price movements are largely independent. IJS charges 0.25%/yr vs 0.90%/yr for BNO.

Performance

IJS vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P SmallCap 600 Value ETF (IJS) and United States Brent Oil Fund LP (BNO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, IJS achieves a 16.70% return, which is significantly lower than BNO's 85.31% return. Over the past 10 years, IJS has underperformed BNO with an annualized return of 10.07%, while BNO has yielded a comparatively higher 13.13% annualized return.

IJS

1D
1.37%
1M
2.47%
YTD
16.70%
6M
16.73%
1Y
39.28%
3Y*
15.35%
5Y*
5.84%
10Y*
10.07%

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

IJS vs. BNO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IJS
iShares S&P SmallCap 600 Value ETF		16.70%6.54%7.33%14.68%-11.34%30.53%2.63%24.11%-12.86%11.35%
BNO
United States Brent Oil Fund LP		85.31%-5.44%9.67%-3.43%35.25%62.34%-38.23%36.01%-15.30%15.43%

Correlation

The correlation between IJS and BNO is -0.25, 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

-0.25

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

-0.02

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

0.13

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

0.22

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

0.27

The correlation between IJS and BNO shifts across timeframes, from -0.25 (1 year) to 0.27 (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.

iShares S&P SmallCap 600 Value ETF

United States Brent Oil Fund LP

Often compared with IJS:
IJS vs. IJRIJS vs. AVUVIJS vs. VBRIJS vs. VIOVIJS vs. IWNIJS vs. VOOIJS vs. IWM
Often compared with BNO:
BNO vs. USOBNO vs. XLEBNO vs. USLBNO vs. BOILBNO vs. UNGBNO vs. UCOBNO vs. XOM

Return for Risk

IJS vs. BNO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IJS
IJS Risk / Return Rank: 7171
Overall Rank
IJS Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
IJS Sortino Ratio Rank: 6868
Sortino Ratio Rank
IJS Omega Ratio Rank: 6262
Omega Ratio Rank
IJS Calmar Ratio Rank: 8282
Calmar Ratio Rank
IJS Martin Ratio Rank: 7474
Martin Ratio Rank
BNO
BNO Risk / Return Rank: 6565
Overall Rank
BNO Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
BNO Sortino Ratio Rank: 5757
Sortino Ratio Rank
BNO Omega Ratio Rank: 6161
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.

IJS vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P SmallCap 600 Value ETF (IJS) 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.

IJSBNODifference
Sharpe ratioReturn per unit of total volatility
2.16
2.15

+0.01

Sortino ratioReturn per unit of downside risk
3.07
2.65

+0.41

Omega ratioGain probability vs. loss probability

1.37

1.36

+0.01

Calmar ratioReturn relative to maximum drawdown

4.25

4.99

-0.74

Martin ratioReturn relative to average drawdown

13.91

9.39

+4.52

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

IJS vs. BNO - Sharpe Ratio Comparison

The current IJS Sharpe Ratio is 2.16, which is comparable to the BNO Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of IJS 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.

Loading charts...

Sharpe Ratios by Period

IJSBNODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.16

2.15

+0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.27

0.67

-0.40

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.43

0.36

+0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.40

0.14

+0.27

Drawdowns

IJS vs. BNO - Drawdown Comparison

The maximum IJS drawdown since its inception was -60.11%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for IJS and BNO.

Loading charts...

Drawdown Indicators

IJSBNODifference

Max Drawdown

Largest peak-to-trough decline

-60.11%

-87.06%

+26.95%

Max Drawdown (1Y)

Largest decline over 1 year

-9.28%

-17.87%

+8.59%

Max Drawdown (3Y)

Largest decline over 3 years

-28.65%

-23.75%

-4.90%

Max Drawdown (5Y)

Largest decline over 5 years

-28.65%

-33.70%

+5.05%

Max Drawdown (10Y)

Largest decline over 10 years

-47.68%

-75.18%

+27.50%

Current Drawdown

Current decline from peak

0.00%

-12.72%

+12.72%

Average Drawdown

Average peak-to-trough decline

-9.89%

-40.16%

+30.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.83%

9.48%

-6.65%

Volatility

IJS vs. BNO - Volatility Comparison

The current volatility for iShares S&P SmallCap 600 Value ETF (IJS) is 4.47%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.12%. This indicates that IJS 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.

Loading charts...

Volatility by Period

IJSBNODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.47%

14.12%

-9.65%

Volatility (6M)

Calculated over the trailing 6-month period

11.58%

36.21%

-24.63%

Volatility (1Y)

Calculated over the trailing 1-year period

18.27%

41.56%

-23.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.99%

35.40%

-13.41%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.60%

36.69%

-13.09%

IJS vs. BNO - Expense Ratio Comparison

IJS has a 0.25% expense ratio, which is lower than BNO's 0.90% expense ratio.

Dividends

IJS vs. BNO - Dividend Comparison

IJS's dividend yield for the trailing twelve months is around 1.27%, 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%
IJS
iShares S&P SmallCap 600 Value ETF		1.27%1.62%1.78%1.42%1.46%1.52%1.00%1.66%1.75%1.41%1.22%1.59%

Frequently Asked Questions

IJS and BNO have a correlation of -0.25, 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 IJS (4.47%). In terms of maximum drawdown, IJS dropped -60.11% vs BNO's -87.06%.

On 10-year performance, BNO leads with 13.13% vs 10.07% for IJS. On fees, IJS is cheaper at 0.25% per year. On volatility, IJS has been the lower-risk option at 4.47%. 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 13.13% return vs 10.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IJS is cheaper with a 0.25% expense ratio, compared with 0.90% for BNO.

IJS has the higher dividend yield at 1.27%, compared with 0.00% for BNO.

IJS is categorized as Small Cap Value Equities, while BNO is Oil & Gas. IJS tracks S&P SmallCap 600/Citigroup Value Index, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: iShares and Concierge Technologies. Their fees differ too: 0.25% for IJS and 0.90% for BNO.

IJS currently has the higher Sharpe Ratio (2.16 vs 2.15), 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.

Portfolio Optimizer

Find the right allocation for IJS and BNO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer