NAIL vs. BNO
NAIL (Direxion Daily Homebuilders & Supplies Bull 3X ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - NAIL is a Building & Construction fund tracking the Dow Jones U.S. Select Home Construction Index, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. Both are passively managed. Over the past 10 years, NAIL returned 2.80%/yr vs 15.06%/yr for BNO. Their 0.07 correlation means their historical movements had little consistent relationship. NAIL charges 0.96%/yr vs 1.00%/yr for BNO.
Performance
NAIL vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, NAIL achieves a -25.11% return, which is significantly lower than BNO's 77.90% return. Over the past 10 years, NAIL has underperformed BNO with an annualized return of 2.80%, while BNO has yielded a comparatively higher 15.06% annualized return.
NAIL
- 1D
- -3.77%
- 1M
- -24.78%
- 6M
- -35.02%
- YTD
- -25.11%
- 1Y
- -40.69%
- 3Y*
- -23.69%
- 5Y*
- -14.77%
- 10Y*
- 2.80%
- ALL TIME*
- -0.25%
BNO
- 1D
- 1.45%
- 1M
- 27.00%
- 6M
- 52.90%
- YTD
- 77.90%
- 1Y
- 62.83%
- 3Y*
- 20.31%
- 5Y*
- 20.89%
- 10Y*
- 15.06%
- ALL TIME*
- 4.31%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $107.13M | $97.34M | $147.52M | |
| $44.87M | $43.82M | $62.70M |
NAIL vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NAIL Direxion Daily Homebuilders & Supplies Bull 3X ETF | -25.11% | -40.43% | -22.83% | 259.61% | -75.23% | 168.20% | -32.08% | 184.63% | -73.96% | 268.71% |
BNO United States Brent Oil Fund LP | 77.90% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | -38.23% | 36.01% | -15.30% | 15.43% |
Correlation
The correlation between NAIL and BNO is -0.34, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.34 |
Correlation (3Y) Balances recent behavior with more history. | -0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.03 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.06 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2015 | 0.07 |
The correlation between NAIL and BNO shifts across timeframes, from -0.34 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NAIL vs. BNO — Risk / Return Rank
NAIL
BNO
NAIL vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Homebuilders & Supplies Bull 3X ETF (NAIL) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| NAIL | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.72 | ||
| Sortino ratioReturn per unit of downside risk | -2.03 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.24 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.53 | 1.70 | -2.23 |
| Martin ratioReturn relative to average drawdown | -0.82 | 5.15 | -5.97 |
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Drawdowns
NAIL vs. BNO - Drawdown Comparison
The maximum NAIL drawdown since its inception was -93.75%, which is greater than BNO's maximum drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for NAIL and BNO.
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Drawdown Indicators
| NAIL | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.75% | -87.06% | -6.69% |
Max Drawdown (1Y)Largest decline over 1 year | -67.85% | -34.46% | -33.39% |
Max Drawdown (3Y)Largest decline over 3 years | -82.09% | -34.46% | -47.63% |
Max Drawdown (5Y)Largest decline over 5 years | -84.40% | -34.46% | -49.94% |
Max Drawdown (10Y)Largest decline over 10 years | -93.75% | -75.18% | -18.57% |
Current DrawdownCurrent decline from peak | -78.60% | -16.21% | -62.39% |
Average DrawdownAverage peak-to-trough decline | -44.24% | -39.99% | -4.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.97% | 11.86% | +32.11% |
Volatility
NAIL vs. BNO - Volatility Comparison
Direxion Daily Homebuilders & Supplies Bull 3X ETF (NAIL) has a higher volatility of 26.41% compared to United States Brent Oil Fund LP (BNO) at 17.47%. This indicates that NAIL's price experiences larger fluctuations and is considered to be riskier 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
| NAIL | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.41% | 17.47% | +8.94% |
Volatility (6M)Calculated over the trailing 6-month period | 65.39% | 40.96% | +24.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 87.99% | 44.54% | +43.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 88.09% | 36.41% | +51.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.81% | 36.98% | +52.83% |
NAIL vs. BNO - Expense Ratio Comparison
NAIL has a 0.96% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
NAIL vs. BNO - Dividend Comparison
NAIL's dividend yield for the trailing twelve months is around 0.83%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NAIL Direxion Daily Homebuilders & Supplies Bull 3X ETF | 0.83% | 1.55% | 0.63% | 0.22% | 0.00% | 0.00% | 0.01% | 0.17% | 0.35% | 1.25% |
Frequently Asked Questions
NAIL and BNO have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NAIL has higher volatility (26.41%) compared to BNO (17.47%). In terms of maximum drawdown, NAIL dropped -93.75% vs BNO's -87.06%.
On 10-year performance, BNO leads with 15.06% vs 2.80% for NAIL. On fees, NAIL is cheaper at 0.96% per year. On volatility, BNO has been the lower-risk option at 17.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BNO has performed better with a 15.06% return vs 2.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NAIL is cheaper with a 0.96% expense ratio, compared with 1.00% for BNO.
NAIL has the higher dividend yield at 0.83%, compared with 0.00% for BNO.
NAIL is categorized as Building & Construction, while BNO is Oil & Gas. NAIL tracks Dow Jones U.S. Select Home Construction Index, while BNO tracks Crude Oil Brent ICE Near Term Futures. They also come from different issuers: Direxion and USCF. Their fees differ too: 0.96% for NAIL and 1.00% for BNO.
BNO currently has the higher Sharpe Ratio (1.32 vs -0.41), 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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