ISHP vs. BNO
ISHP (First Trust S-Network Global E-Commerce ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - ISHP is a Consumer Discretionary Equities fund tracking the S-Network Global E-Commerce Index, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. Both are passively managed. Over the past 5 years, ISHP returned 0.46%/yr vs 17.15%/yr for BNO. At a 0.12 correlation, their price movements are largely independent. ISHP charges 0.60%/yr vs 1.00%/yr for BNO.
Performance
ISHP vs. BNO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ISHP achieves a -16.46% return, which is significantly lower than BNO's 50.21% return.
ISHP
- 1D
- -1.03%
- 1M
- -3.26%
- YTD
- -16.46%
- 6M
- -16.45%
- 1Y
- -14.21%
- 3Y*
- 8.69%
- 5Y*
- 0.46%
- 10Y*
- —
BNO
- 1D
- -1.35%
- 1M
- -22.65%
- YTD
- 50.21%
- 6M
- 47.81%
- 1Y
- 38.79%
- 3Y*
- 19.32%
- 5Y*
- 17.15%
- 10Y*
- 11.25%
ISHP vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISHP First Trust S-Network Global E-Commerce ETF | -16.46% | 12.27% | 24.17% | 22.24% | -33.79% | 30.09% | 15.33% | 19.74% | -2.04% | 7.66% |
BNO United States Brent Oil Fund LP | 50.21% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | -38.23% | 36.01% | -15.30% | 15.43% |
Correlation
The correlation between ISHP 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 (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2016 | 0.12 |
The correlation between ISHP and BNO shifts across timeframes, from -0.30 (1 year) to 0.12 (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.
Return for Risk
ISHP vs. BNO — Risk / Return Rank
ISHP
BNO
ISHP vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust S-Network Global E-Commerce ETF (ISHP) 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.
| ISHP | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -2.53 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.19 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | 1.33 | -1.91 |
| Martin ratioReturn relative to average drawdown | -1.15 | 4.21 | -5.35 |
Loading charts...
Drawdowns
ISHP vs. BNO - Drawdown Comparison
The maximum ISHP drawdown since its inception was -47.57%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for ISHP and BNO.
Loading charts...
Drawdown Indicators
| ISHP | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.57% | -87.06% | +39.49% |
Max Drawdown (1Y)Largest decline over 1 year | -24.75% | -29.25% | +4.50% |
Max Drawdown (3Y)Largest decline over 3 years | -24.75% | -29.25% | +4.50% |
Max Drawdown (5Y)Largest decline over 5 years | -47.57% | -33.70% | -13.87% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -23.26% | -29.25% | +5.99% |
Average DrawdownAverage peak-to-trough decline | -12.69% | -40.10% | +27.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.40% | 9.28% | +3.12% |
Volatility
ISHP vs. BNO - Volatility Comparison
The current volatility for First Trust S-Network Global E-Commerce ETF (ISHP) is 5.73%, while United States Brent Oil Fund LP (BNO) has a volatility of 10.92%. This indicates that ISHP 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
| ISHP | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.73% | 10.92% | -5.19% |
Volatility (6M)Calculated over the trailing 6-month period | 14.11% | 37.29% | -23.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.62% | 41.67% | -24.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.26% | 35.65% | -8.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.08% | 36.68% | -12.60% |
ISHP vs. BNO - Expense Ratio Comparison
ISHP has a 0.60% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
ISHP vs. BNO - Dividend Comparison
ISHP's dividend yield for the trailing twelve months is around 1.60%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ISHP First Trust S-Network Global E-Commerce ETF | 1.60% | 1.34% | 1.02% | 1.58% | 0.76% | 0.53% | 0.82% | 1.16% | 0.89% | 1.65% | 0.23% |
Frequently Asked Questions
ISHP 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 (10.92%) compared to ISHP (5.73%). In terms of maximum drawdown, ISHP dropped -47.57% vs BNO's -87.06%.
On 5-year performance, BNO leads with 17.15% vs 0.46% for ISHP. On fees, ISHP is cheaper at 0.60% per year. On volatility, ISHP has been the lower-risk option at 5.73%. 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 17.15% return vs 0.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISHP is cheaper with a 0.60% expense ratio, compared with 1.00% for BNO.
ISHP has the higher dividend yield at 1.60%, compared with 0.00% for BNO.
ISHP is categorized as Consumer Discretionary Equities, while BNO is Oil & Gas. ISHP tracks S-Network Global E-Commerce Index, while BNO tracks Crude Oil Brent ICE Near Term Futures. They also come from different issuers: First Trust and USCF Investments. Their fees differ too: 0.60% for ISHP and 1.00% for BNO.
BNO currently has the higher Sharpe Ratio (0.95 vs -0.81), 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.
Find the right allocation for ISHP 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