MAMB vs. BNO
MAMB (Monarch Ambassador Income ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - MAMB is a Intermediate Core-Plus Bond fund tracking the Monarch Ambassador Income Index, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 5 years, MAMB returned 0.74%/yr vs 23.48%/yr for BNO. At a correlation of -0.06, they often move in opposite directions. MAMB charges 1.49%/yr vs 0.90%/yr for BNO.
Performance
MAMB vs. BNO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MAMB achieves a 2.10% return, which is significantly lower than BNO's 85.31% return.
MAMB
- 1D
- 0.08%
- 1M
- 0.46%
- YTD
- 2.10%
- 6M
- 2.20%
- 1Y
- 8.73%
- 3Y*
- 5.40%
- 5Y*
- 0.74%
- 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%
MAMB vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MAMB Monarch Ambassador Income ETF | 2.10% | 10.69% | 1.32% | 4.90% | -13.02% | 1.46% |
BNO United States Brent Oil Fund LP | 85.31% | -5.44% | 9.67% | -3.43% | 35.25% | 29.55% |
Correlation
The correlation between MAMB and BNO is -0.32, 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 | -0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Mar 25, 2021 | -0.06 |
Over the past year, the inverse relationship between MAMB and BNO has strengthened: their correlation has moved from -0.06 to -0.32, meaning they now move in opposite directions more often than their long-term average.
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
MAMB vs. BNO — Risk / Return Rank
MAMB
BNO
MAMB vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Monarch Ambassador Income ETF (MAMB) 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.
| MAMB | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.36 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 4.99 | -2.52 |
| Martin ratioReturn relative to average drawdown | 6.97 | 9.39 | -2.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| MAMB | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.56 | 2.15 | -0.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.67 | -0.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 0.14 | +0.03 |
Drawdowns
MAMB vs. BNO - Drawdown Comparison
The maximum MAMB drawdown since its inception was -19.33%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for MAMB and BNO.
Loading charts...
Drawdown Indicators
| MAMB | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.33% | -87.06% | +67.73% |
Max Drawdown (1Y)Largest decline over 1 year | -3.55% | -17.87% | +14.32% |
Max Drawdown (3Y)Largest decline over 3 years | -7.38% | -23.75% | +16.37% |
Max Drawdown (5Y)Largest decline over 5 years | -19.33% | -33.70% | +14.37% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -1.57% | -12.72% | +11.15% |
Average DrawdownAverage peak-to-trough decline | -7.50% | -40.16% | +32.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 9.48% | -8.22% |
Volatility
MAMB vs. BNO - Volatility Comparison
The current volatility for Monarch Ambassador Income ETF (MAMB) is 1.70%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.12%. This indicates that MAMB 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
| MAMB | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.70% | 14.12% | -12.42% |
Volatility (6M)Calculated over the trailing 6-month period | 4.21% | 36.21% | -32.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.67% | 41.56% | -35.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.99% | 35.40% | -28.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.91% | 36.69% | -29.78% |
MAMB vs. BNO - Expense Ratio Comparison
MAMB has a 1.49% expense ratio, which is higher than BNO's 0.90% expense ratio.
Dividends
MAMB vs. BNO - Dividend Comparison
MAMB's dividend yield for the trailing twelve months is around 2.44%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MAMB Monarch Ambassador Income ETF | 2.44% | 2.47% | 2.11% | 1.73% | 0.92% | 0.56% |
Frequently Asked Questions
MAMB and BNO have a correlation of -0.32, 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 MAMB (1.70%). In terms of maximum drawdown, MAMB dropped -19.33% vs BNO's -87.06%.
On 5-year performance, BNO leads with 23.48% vs 0.74% for MAMB. On fees, BNO is cheaper at 0.90% per year. On volatility, MAMB has been the lower-risk option at 1.70%. 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 23.48% return vs 0.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BNO is cheaper with a 0.90% expense ratio, compared with 1.49% for MAMB.
MAMB has the higher dividend yield at 2.44%, compared with 0.00% for BNO.
MAMB is categorized as Intermediate Core-Plus Bond, while BNO is Oil & Gas. MAMB tracks Monarch Ambassador Income Index, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: Monarch and Concierge Technologies. Their fees differ too: 1.49% for MAMB and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.15 vs 1.56), 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 MAMB 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