NDIA vs. BNO
NDIA (Global X Funds - Global X India Active ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - NDIA is a India Equities fund actively managed by Global X, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. NDIA is actively managed, while BNO is passively managed. Over the past year, NDIA returned -4.87% vs 62.83% for BNO. Their -0.12 correlation means they have often moved in opposite directions in the past. NDIA charges 0.76%/yr vs 1.00%/yr for BNO.
Performance
NDIA vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, NDIA achieves a -7.78% return, which is significantly lower than BNO's 77.90% return.
NDIA
- 1D
- -0.04%
- 1M
- 0.67%
- 6M
- -4.20%
- YTD
- -7.78%
- 1Y
- -4.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.01%
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 | |
| $55.71K | $86.05K | $392.94K |
NDIA vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NDIA Global X Funds - Global X India Active ETF | -7.78% | 5.04% | 5.75% | 12.76% |
BNO United States Brent Oil Fund LP | 77.90% | -5.44% | 9.67% | -4.24% |
Correlation
The correlation between NDIA and BNO is -0.38, 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. | -0.38 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 2023 | -0.12 |
Over the past year, the inverse relationship between NDIA and BNO has strengthened: their correlation has moved from -0.12 to -0.38, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
NDIA vs. BNO — Risk / Return Rank
NDIA
BNO
NDIA vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Funds - Global X India Active ETF (NDIA) 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.
| NDIA | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.61 | ||
| Sortino ratioReturn per unit of downside risk | -2.23 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.24 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 1.70 | -1.98 |
| Martin ratioReturn relative to average drawdown | -0.65 | 5.15 | -5.80 |
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Drawdowns
NDIA vs. BNO - Drawdown Comparison
The maximum NDIA drawdown since its inception was -22.05%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for NDIA and BNO.
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Drawdown Indicators
| NDIA | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.05% | -87.06% | +65.01% |
Max Drawdown (1Y)Largest decline over 1 year | -17.09% | -34.46% | +17.37% |
Max Drawdown (3Y)Largest decline over 3 years | — | -34.46% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -14.49% | -16.21% | +1.72% |
Average DrawdownAverage peak-to-trough decline | -7.54% | -39.99% | +32.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.46% | 11.86% | -4.40% |
Volatility
NDIA vs. BNO - Volatility Comparison
The current volatility for Global X Funds - Global X India Active ETF (NDIA) is 4.57%, while United States Brent Oil Fund LP (BNO) has a volatility of 17.47%. This indicates that NDIA 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
| NDIA | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.57% | 17.47% | -12.90% |
Volatility (6M)Calculated over the trailing 6-month period | 14.08% | 40.96% | -26.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.27% | 44.54% | -28.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.61% | 36.41% | -20.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.61% | 36.98% | -21.37% |
NDIA vs. BNO - Expense Ratio Comparison
NDIA has a 0.76% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
NDIA vs. BNO - Dividend Comparison
NDIA's dividend yield for the trailing twelve months is around 1.19%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
NDIA Global X Funds - Global X India Active ETF | 1.19% | 1.10% | 3.66% | 0.28% |
Frequently Asked Questions
NDIA and BNO have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (17.47%) compared to NDIA (4.57%). In terms of maximum drawdown, NDIA dropped -22.05% vs BNO's -87.06%.
On 1-year performance, BNO leads with 62.83% vs -4.87% for NDIA. On fees, NDIA is cheaper at 0.76% per year. On volatility, NDIA has been the lower-risk option at 4.57%. 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 62.83% return vs -4.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NDIA is cheaper with a 0.76% expense ratio, compared with 1.00% for BNO.
NDIA has the higher dividend yield at 1.19%, compared with 0.00% for BNO.
NDIA is categorized as India Equities, while BNO is Oil & Gas. They also come from different issuers: Global X and USCF. Their fees differ too: 0.76% for NDIA and 1.00% for BNO.
BNO currently has the higher Sharpe Ratio (1.32 vs -0.30), 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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