JULJ vs. BNO
JULJ (Innovator Premium Income 30 Barrier ETF - July) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - JULJ is a Options Trading fund actively managed by Innovator, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. JULJ is actively managed, while BNO is passively managed. Over the past year, JULJ returned 5.54% vs 88.71% for BNO. At a correlation of -0.05, they often move in opposite directions. JULJ charges 0.79%/yr vs 0.90%/yr for BNO.
Performance
JULJ vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, JULJ achieves a 1.84% return, which is significantly lower than BNO's 85.31% return.
JULJ
- 1D
- 0.02%
- 1M
- 0.26%
- YTD
- 1.84%
- 6M
- 2.34%
- 1Y
- 5.54%
- 3Y*
- —
- 5Y*
- —
- 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%
JULJ vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JULJ Innovator Premium Income 30 Barrier ETF - July | 1.84% | 5.91% | 6.17% | 3.54% |
BNO United States Brent Oil Fund LP | 85.31% | -5.44% | 9.67% | 7.44% |
Correlation
The correlation between JULJ and BNO is -0.24, 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 | -0.24 |
Correlation (All Time) Calculated using the full available price history since Jul 5, 2023 | -0.05 |
The correlation between JULJ and BNO shifts across timeframes, from -0.24 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
JULJ vs. BNO — Risk / Return Rank
JULJ
BNO
JULJ vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 30 Barrier ETF - July (JULJ) 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.
| JULJ | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.46 | ||
| Sortino ratioReturn per unit of downside risk | +3.37 | ||
| Omega ratioGain probability vs. loss probability | 1.87 | 1.36 | +0.51 |
| Calmar ratioReturn relative to maximum drawdown | 9.17 | 4.99 | +4.18 |
| Martin ratioReturn relative to average drawdown | 47.60 | 9.39 | +38.21 |
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
| JULJ | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.61 | 2.15 | +1.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.67 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.96 | 0.14 | +1.83 |
Drawdowns
JULJ vs. BNO - Drawdown Comparison
The maximum JULJ drawdown since its inception was -3.62%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for JULJ and BNO.
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Drawdown Indicators
| JULJ | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.62% | -87.06% | +83.44% |
Max Drawdown (1Y)Largest decline over 1 year | -0.61% | -17.87% | +17.26% |
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 | 0.00% | -12.72% | +12.72% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -40.16% | +40.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.12% | 9.48% | -9.36% |
Volatility
JULJ vs. BNO - Volatility Comparison
The current volatility for Innovator Premium Income 30 Barrier ETF - July (JULJ) is 0.17%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.12%. This indicates that JULJ 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
| JULJ | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.17% | 14.12% | -13.95% |
Volatility (6M)Calculated over the trailing 6-month period | 0.94% | 36.21% | -35.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.54% | 41.56% | -40.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.08% | 35.40% | -32.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.08% | 36.69% | -33.61% |
JULJ vs. BNO - Expense Ratio Comparison
JULJ has a 0.79% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
JULJ vs. BNO - Dividend Comparison
JULJ's dividend yield for the trailing twelve months is around 5.66%, 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% |
JULJ Innovator Premium Income 30 Barrier ETF - July | 5.66% | 5.76% | 5.96% | 3.21% |
Frequently Asked Questions
JULJ and BNO have a correlation of -0.24, 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 JULJ (0.17%). In terms of maximum drawdown, JULJ dropped -3.62% vs BNO's -87.06%.
On 1-year performance, BNO leads with 88.71% vs 5.54% for JULJ. On fees, JULJ is cheaper at 0.79% per year. On volatility, JULJ has been the lower-risk option at 0.17%. 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 88.71% return vs 5.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JULJ is cheaper with a 0.79% expense ratio, compared with 0.90% for BNO.
JULJ has the higher dividend yield at 5.66%, compared with 0.00% for BNO.
JULJ is categorized as Options Trading, while BNO is Oil & Gas. They also come from different issuers: Innovator and Concierge Technologies. Their fees differ too: 0.79% for JULJ and 0.90% for BNO.
JULJ currently has the higher Sharpe Ratio (3.61 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.
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