INDH vs. BNO
INDH (WisdomTree India Hedged Equity Fund) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - INDH is a India Equities fund tracking the WisdomTree India Hedged Equity Index, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. Both are passively managed. Over the past year, INDH returned -2.60% vs 62.83% for BNO. Their -0.15 correlation means they have often moved in opposite directions in the past. INDH charges 0.64%/yr vs 1.00%/yr for BNO.
Performance
INDH vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, INDH achieves a -6.93% return, which is significantly lower than BNO's 77.90% return.
INDH
- 1D
- -0.39%
- 1M
- -0.07%
- 6M
- -4.34%
- YTD
- -6.93%
- 1Y
- -2.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 1.94%
BNO
- 1D
- 1.45%
- 1M
- 27.00%
- 6M
- 52.90%
- YTD
- 77.90%
- 1Y
- 62.83%
- 3Y*
- 20.31%
- 5Y*
- 20.89%
- 10Y*
- 15.06%
- ALL TIME*
- 4.31%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $107.13M | $97.34M | $147.52M | |
| $20.02K | $17.53K | $22.76K |
INDH vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
INDH WisdomTree India Hedged Equity Fund | -6.93% | 6.76% | 5.03% |
BNO United States Brent Oil Fund LP | 77.90% | -5.44% | -3.85% |
Correlation
The correlation between INDH and BNO is -0.38, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.38 |
Correlation (All Time) Calculated using the full available price history since May 9, 2024 | -0.15 |
Over the past year, the inverse relationship between INDH and BNO has strengthened: their correlation has moved from -0.15 to -0.38, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
INDH vs. BNO — Risk / Return Rank
INDH
BNO
INDH vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree India Hedged Equity Fund (INDH) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| INDH | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.51 | ||
| Sortino ratioReturn per unit of downside risk | -2.09 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.24 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 1.70 | -1.90 |
| Martin ratioReturn relative to average drawdown | -0.46 | 5.15 | -5.61 |
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Drawdowns
INDH vs. BNO - Drawdown Comparison
The maximum INDH drawdown since its inception was -15.05%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for INDH and BNO.
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Drawdown Indicators
| INDH | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.05% | -87.06% | +72.01% |
Max Drawdown (1Y)Largest decline over 1 year | -12.94% | -34.46% | +21.52% |
Max Drawdown (3Y)Largest decline over 3 years | — | -34.46% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -9.00% | -16.21% | +7.21% |
Average DrawdownAverage peak-to-trough decline | -5.96% | -39.99% | +34.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.63% | 11.86% | -6.23% |
Volatility
INDH vs. BNO - Volatility Comparison
The current volatility for WisdomTree India Hedged Equity Fund (INDH) is 3.20%, while United States Brent Oil Fund LP (BNO) has a volatility of 17.47%. This indicates that INDH 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
| INDH | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.20% | 17.47% | -14.27% |
Volatility (6M)Calculated over the trailing 6-month period | 11.93% | 40.96% | -29.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.36% | 44.54% | -31.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.24% | 36.41% | -22.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.24% | 36.98% | -22.74% |
INDH vs. BNO - Expense Ratio Comparison
INDH has a 0.64% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
INDH vs. BNO - Dividend Comparison
INDH's dividend yield for the trailing twelve months is around 5.64%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% |
INDH WisdomTree India Hedged Equity Fund | 5.64% | 5.25% | 0.31% |
Frequently Asked Questions
INDH and BNO have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (17.47%) compared to INDH (3.20%). In terms of maximum drawdown, INDH dropped -15.05% vs BNO's -87.06%.
On 1-year performance, BNO leads with 62.83% vs -2.60% for INDH. On fees, INDH is cheaper at 0.64% per year. On volatility, INDH has been the lower-risk option at 3.20%. 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 62.83% return vs -2.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
INDH is cheaper with a 0.64% expense ratio, compared with 1.00% for BNO.
INDH has the higher dividend yield at 5.64%, compared with 0.00% for BNO.
INDH is categorized as India Equities, while BNO is Oil & Gas. INDH tracks WisdomTree India Hedged Equity Index, while BNO tracks Crude Oil Brent ICE Near Term Futures. They also come from different issuers: WisdomTree and USCF. Their fees differ too: 0.64% for INDH and 1.00% for BNO.
BNO currently has the higher Sharpe Ratio (1.32 vs -0.20), 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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