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 Asia Pacific Equities fund actively managed by Global X, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. NDIA is actively managed, while BNO is passively managed. Over the past year, NDIA returned -11.02% vs 88.71% for BNO. At a correlation of -0.09, they often move in opposite directions. NDIA charges 0.76%/yr vs 0.90%/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 -11.91% return, which is significantly lower than BNO's 85.31% return.
NDIA
- 1D
- 0.99%
- 1M
- -3.15%
- YTD
- -11.91%
- 6M
- -11.20%
- 1Y
- -11.02%
- 3Y*
- —
- 5Y*
- —
- 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%
NDIA vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NDIA Global X Funds - Global X India Active ETF | -11.91% | 5.04% | 5.75% | 12.71% |
BNO United States Brent Oil Fund LP | 85.31% | -5.44% | 9.67% | -5.37% |
Correlation
The correlation between NDIA and BNO is -0.33, 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 | -0.33 |
Correlation (All Time) Calculated using the full available price history since Aug 21, 2023 | -0.09 |
Over the past year, the inverse relationship between NDIA and BNO has strengthened: their correlation has moved from -0.09 to -0.33, 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.
| NDIA | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.85 | ||
| Sortino ratioReturn per unit of downside risk | -3.59 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.36 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.61 | 4.99 | -5.60 |
| Martin ratioReturn relative to average drawdown | -1.53 | 9.39 | -10.92 |
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
| NDIA | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.70 | 2.15 | -2.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.67 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.14 | +0.09 |
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 | -18.03% | -17.87% | -0.16% |
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 | -18.31% | -12.72% | -5.59% |
Average DrawdownAverage peak-to-trough decline | -7.07% | -40.16% | +33.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.22% | 9.48% | -2.26% |
Volatility
NDIA vs. BNO - Volatility Comparison
The current volatility for Global X Funds - Global X India Active ETF (NDIA) is 6.23%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.12%. 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 | 6.23% | 14.12% | -7.89% |
Volatility (6M)Calculated over the trailing 6-month period | 13.59% | 36.21% | -22.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.78% | 41.56% | -25.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.63% | 35.40% | -19.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.63% | 36.69% | -21.06% |
NDIA vs. BNO - Expense Ratio Comparison
NDIA has a 0.76% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
NDIA vs. BNO - Dividend Comparison
NDIA's dividend yield for the trailing twelve months is around 1.25%, 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 | 1.25% | 1.10% | 3.66% | 0.28% |
Frequently Asked Questions
NDIA and BNO have a correlation of -0.33, 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 NDIA (6.23%). In terms of maximum drawdown, NDIA dropped -22.05% vs BNO's -87.06%.
On 1-year performance, BNO leads with 88.71% vs -11.02% for NDIA. On fees, NDIA is cheaper at 0.76% per year. On volatility, NDIA has been the lower-risk option at 6.23%. 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 88.71% return vs -11.02%. 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 0.90% for BNO.
NDIA has the higher dividend yield at 1.25%, compared with 0.00% for BNO.
NDIA is categorized as Asia Pacific Equities, while BNO is Oil & Gas. They also come from different issuers: Global X and Concierge Technologies. Their fees differ too: 0.76% for NDIA and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.15 vs -0.70), 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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