MFSI vs. BNO
MFSI (MFS Active International ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - MFSI is a Foreign Large Cap Equities fund actively managed by MFS, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. MFSI is actively managed, while BNO is passively managed. Over the past year, MFSI returned 17.49% vs 91.89% for BNO. At a correlation of -0.20, they often move in opposite directions. MFSI charges 0.59%/yr vs 0.90%/yr for BNO.
Performance
MFSI vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, MFSI achieves a 6.73% return, which is significantly lower than BNO's 90.47% return.
MFSI
- 1D
- -1.16%
- 1M
- 5.04%
- YTD
- 6.73%
- 6M
- 9.01%
- 1Y
- 17.49%
- 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%
MFSI vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MFSI MFS Active International ETF | 6.73% | 26.43% | -4.21% |
BNO United States Brent Oil Fund LP | 90.47% | -5.44% | 3.49% |
Correlation
The correlation between MFSI and BNO is -0.36, 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 | -0.36 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2024 | -0.20 |
The correlation between MFSI and BNO shifts across timeframes, from -0.36 (1 year) to -0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MFSI vs. BNO — Risk / Return Rank
MFSI
BNO
MFSI vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Active International ETF (MFSI) 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.
| MFSI | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.38 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 5.17 | -3.60 |
| Martin ratioReturn relative to average drawdown | 5.89 | 9.76 | -3.87 |
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
| MFSI | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 2.23 | -1.03 |
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 | 1.17 | 0.14 | +1.02 |
Drawdowns
MFSI vs. BNO - Drawdown Comparison
The maximum MFSI drawdown since its inception was -13.67%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for MFSI and BNO.
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Drawdown Indicators
| MFSI | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.67% | -87.06% | +73.39% |
Max Drawdown (1Y)Largest decline over 1 year | -11.17% | -17.87% | +6.70% |
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 | -1.16% | -10.29% | +9.13% |
Average DrawdownAverage peak-to-trough decline | -1.97% | -40.17% | +38.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.98% | 9.45% | -6.47% |
Volatility
MFSI vs. BNO - Volatility Comparison
The current volatility for MFS Active International ETF (MFSI) is 4.72%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that MFSI 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
| MFSI | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.72% | 14.22% | -9.50% |
Volatility (6M)Calculated over the trailing 6-month period | 12.16% | 36.10% | -23.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.62% | 41.46% | -26.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.32% | 35.38% | -19.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.32% | 36.68% | -20.36% |
MFSI vs. BNO - Expense Ratio Comparison
MFSI has a 0.59% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
MFSI vs. BNO - Dividend Comparison
MFSI's dividend yield for the trailing twelve months is around 0.76%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% |
MFSI MFS Active International ETF | 0.76% | 0.81% |
Frequently Asked Questions
MFSI and BNO have a correlation of -0.36, 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 MFSI (4.72%). In terms of maximum drawdown, MFSI dropped -13.67% vs BNO's -87.06%.
On 1-year performance, BNO leads with 91.89% vs 17.49% for MFSI. On fees, MFSI is cheaper at 0.59% per year. On volatility, MFSI has been the lower-risk option at 4.72%. 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 17.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MFSI is cheaper with a 0.59% expense ratio, compared with 0.90% for BNO.
MFSI has the higher dividend yield at 0.76%, compared with 0.00% for BNO.
MFSI is categorized as Foreign Large Cap Equities, while BNO is Oil & Gas. They also come from different issuers: MFS and Concierge Technologies. Their fees differ too: 0.59% for MFSI and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.23 vs 1.20), 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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