LYLD vs. BNO
LYLD (Cambria Large Cap Shareholder Yield ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - LYLD is a Large Cap Value Equities fund actively managed by Cambria, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. LYLD is actively managed, while BNO is passively managed. Over the past year, LYLD returned 20.39% vs 91.89% for BNO. At a 0.07 correlation, their price movements are largely independent. LYLD charges 0.59%/yr vs 0.90%/yr for BNO.
Performance
LYLD vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, LYLD achieves a 8.49% return, which is significantly lower than BNO's 90.47% return.
LYLD
- 1D
- -0.51%
- 1M
- 0.90%
- YTD
- 8.49%
- 6M
- 9.53%
- 1Y
- 20.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BNO
- 1D
- 1.99%
- 1M
- -10.29%
- YTD
- 90.47%
- 6M
- 86.00%
- 1Y
- 91.89%
- 3Y*
- 27.93%
- 5Y*
- 24.16%
- 10Y*
- 13.60%
LYLD vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
LYLD Cambria Large Cap Shareholder Yield ETF | 8.49% | 12.90% | 1.19% |
BNO United States Brent Oil Fund LP | 90.47% | -5.44% | -7.07% |
Correlation
The correlation between LYLD and BNO is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Jul 15, 2024 | 0.07 |
The correlation between LYLD and BNO shifts across timeframes, from -0.06 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
LYLD vs. BNO — Risk / Return Rank
LYLD
BNO
LYLD vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cambria Large Cap Shareholder Yield ETF (LYLD) 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.
| LYLD | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.38 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.66 | 5.17 | -2.51 |
| Martin ratioReturn relative to average drawdown | 8.90 | 9.76 | -0.86 |
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
| LYLD | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.79 | 2.23 | -0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.69 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.14 | +0.63 |
Drawdowns
LYLD vs. BNO - Drawdown Comparison
The maximum LYLD drawdown since its inception was -18.64%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for LYLD and BNO.
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Drawdown Indicators
| LYLD | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.64% | -87.06% | +68.42% |
Max Drawdown (1Y)Largest decline over 1 year | -7.70% | -17.87% | +10.17% |
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 | -1.68% | -10.29% | +8.61% |
Average DrawdownAverage peak-to-trough decline | -3.67% | -40.17% | +36.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.30% | 9.45% | -7.15% |
Volatility
LYLD vs. BNO - Volatility Comparison
The current volatility for Cambria Large Cap Shareholder Yield ETF (LYLD) is 2.19%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that LYLD 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
| LYLD | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.19% | 14.22% | -12.03% |
Volatility (6M)Calculated over the trailing 6-month period | 7.72% | 36.10% | -28.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.45% | 41.46% | -30.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.62% | 35.38% | -19.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.62% | 36.68% | -21.06% |
LYLD vs. BNO - Expense Ratio Comparison
LYLD has a 0.59% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
LYLD vs. BNO - Dividend Comparison
LYLD's dividend yield for the trailing twelve months is around 2.64%, 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% |
LYLD Cambria Large Cap Shareholder Yield ETF | 2.64% | 2.79% | 0.72% |
Frequently Asked Questions
LYLD and BNO have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (14.22%) compared to LYLD (2.19%). In terms of maximum drawdown, LYLD dropped -18.64% vs BNO's -87.06%.
On 1-year performance, BNO leads with 91.89% vs 20.39% for LYLD. On fees, LYLD is cheaper at 0.59% per year. On volatility, LYLD has been the lower-risk option at 2.19%. 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 91.89% return vs 20.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LYLD is cheaper with a 0.59% expense ratio, compared with 0.90% for BNO.
LYLD has the higher dividend yield at 2.64%, compared with 0.00% for BNO.
LYLD is categorized as Large Cap Value Equities, while BNO is Oil & Gas. They also come from different issuers: Cambria and Concierge Technologies. Their fees differ too: 0.59% for LYLD and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.23 vs 1.79), 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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