MAYW vs. BNO
MAYW (AllianzIM U.S. Large Cap Buffer20 May ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - MAYW is a Options Trading fund actively managed by Allianz, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. MAYW is actively managed, while BNO is passively managed. Over the past 3 years, MAYW returned 10.99%/yr vs 27.93%/yr for BNO. At a correlation of -0.04, they often move in opposite directions. MAYW charges 0.74%/yr vs 0.90%/yr for BNO.
Performance
MAYW vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, MAYW achieves a 3.65% return, which is significantly lower than BNO's 90.47% return.
MAYW
- 1D
- -0.23%
- 1M
- 1.61%
- YTD
- 3.65%
- 6M
- 4.37%
- 1Y
- 9.70%
- 3Y*
- 10.99%
- 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%
MAYW vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MAYW AllianzIM U.S. Large Cap Buffer20 May ETF | 3.65% | 10.24% | 12.08% | 8.18% |
BNO United States Brent Oil Fund LP | 90.47% | -5.44% | 9.67% | 2.48% |
Correlation
The correlation between MAYW and BNO is -0.29, 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 | -0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since May 2, 2023 | -0.04 |
Over the past year, the inverse relationship between MAYW and BNO has strengthened: their correlation has moved from -0.04 to -0.29, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
MAYW vs. BNO — Risk / Return Rank
MAYW
BNO
MAYW vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer20 May ETF (MAYW) 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.
| MAYW | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.06 | ||
| Sortino ratioReturn per unit of downside risk | +2.39 | ||
| Omega ratioGain probability vs. loss probability | 1.72 | 1.38 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 6.95 | 5.17 | +1.78 |
| Martin ratioReturn relative to average drawdown | 36.77 | 9.76 | +27.01 |
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
| MAYW | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.29 | 2.23 | +1.06 |
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 | 1.71 | 0.14 | +1.57 |
Drawdowns
MAYW vs. BNO - Drawdown Comparison
The maximum MAYW drawdown since its inception was -7.93%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for MAYW and BNO.
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Drawdown Indicators
| MAYW | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.93% | -87.06% | +79.13% |
Max Drawdown (1Y)Largest decline over 1 year | -1.40% | -17.87% | +16.47% |
Max Drawdown (3Y)Largest decline over 3 years | -7.93% | -23.75% | +15.82% |
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 | -0.27% | -10.29% | +10.02% |
Average DrawdownAverage peak-to-trough decline | -0.41% | -40.17% | +39.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.26% | 9.45% | -9.19% |
Volatility
MAYW vs. BNO - Volatility Comparison
The current volatility for AllianzIM U.S. Large Cap Buffer20 May ETF (MAYW) is 1.03%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that MAYW 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
| MAYW | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 14.22% | -13.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.20% | 36.10% | -33.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.97% | 41.46% | -38.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.53% | 35.38% | -28.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.53% | 36.68% | -30.15% |
MAYW vs. BNO - Expense Ratio Comparison
MAYW has a 0.74% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
MAYW vs. BNO - Dividend Comparison
Neither MAYW nor BNO has paid dividends to shareholders.
Frequently Asked Questions
MAYW and BNO have a correlation of -0.29, 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 MAYW (1.03%). In terms of maximum drawdown, MAYW dropped -7.93% vs BNO's -87.06%.
On 3-year performance, BNO leads with 27.93% vs 10.99% for MAYW. On fees, MAYW is cheaper at 0.74% per year. On volatility, MAYW has been the lower-risk option at 1.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BNO has performed better with a 27.93% return vs 10.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MAYW is cheaper with a 0.74% expense ratio, compared with 0.90% for BNO.
MAYW and BNO have nearly identical dividend yields, around 0.00%.
MAYW is categorized as Options Trading, while BNO is Oil & Gas. They also come from different issuers: Allianz and Concierge Technologies. Their fees differ too: 0.74% for MAYW and 0.90% for BNO.
MAYW currently has the higher Sharpe Ratio (3.29 vs 2.23), 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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