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NEAR vs. BNO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NEAR vs. BNO

Last updated Jun 4, 2026

NEAR (iShares Short Duration Bond Active ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - NEAR is a Short-Term Bond fund actively managed by iShares, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. NEAR is actively managed, while BNO is passively managed. Over the past 10 years, NEAR returned 2.85%/yr vs 13.60%/yr for BNO. At a correlation of -0.04, they often move in opposite directions. NEAR charges 0.25%/yr vs 0.90%/yr for BNO.

Performance

NEAR vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Short Duration Bond Active ETF (NEAR) and United States Brent Oil Fund LP (BNO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, NEAR achieves a 0.73% return, which is significantly lower than BNO's 90.47% return. Over the past 10 years, NEAR has underperformed BNO with an annualized return of 2.85%, while BNO has yielded a comparatively higher 13.60% annualized return.

NEAR

1D
0.00%
1M
0.20%
YTD
0.73%
6M
1.15%
1Y
4.31%
3Y*
5.64%
5Y*
3.86%
10Y*
2.85%

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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NEAR vs. BNO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
NEAR
iShares Short Duration Bond Active ETF		0.73%5.90%5.09%7.42%0.41%0.32%1.39%3.55%1.71%1.41%
BNO
United States Brent Oil Fund LP		90.47%-5.44%9.67%-3.43%35.25%62.34%-38.23%36.01%-15.30%15.43%

Correlation

The correlation between NEAR and BNO is -0.37, 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

-0.37

Correlation (3Y)
Calculated over the trailing 3-year period

-0.21

Correlation (5Y)
Calculated over the trailing 5-year period

-0.14

Correlation (10Y)
Calculated over the trailing 10-year period

-0.05

Correlation (All Time)
Calculated using the full available price history since Sep 27, 2013

-0.04

Over the past year, the inverse relationship between NEAR and BNO has strengthened: their correlation has moved from -0.04 to -0.37, meaning they now move in opposite directions more often than their long-term average.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Short Duration Bond Active ETF

United States Brent Oil Fund LP

Often compared with NEAR:
NEAR vs. SGOVNEAR vs. JPSTNEAR vs. MINTNEAR vs. SHVNEAR vs. FLOTNEAR vs. GSYNEAR vs. GSST
Often compared with BNO:
BNO vs. USOBNO vs. XLEBNO vs. USLBNO vs. BOILBNO vs. UNGBNO vs. UCOBNO vs. XOM

Return for Risk

NEAR vs. BNO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NEAR
NEAR Risk / Return Rank: 8787
Overall Rank
NEAR Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
NEAR Sortino Ratio Rank: 9494
Sortino Ratio Rank
NEAR Omega Ratio Rank: 9393
Omega Ratio Rank
NEAR Calmar Ratio Rank: 7575
Calmar Ratio Rank
NEAR Martin Ratio Rank: 8484
Martin Ratio Rank
BNO
BNO Risk / Return Rank: 6565
Overall Rank
BNO Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
BNO Sortino Ratio Rank: 5656
Sortino Ratio Rank
BNO Omega Ratio Rank: 6060
Omega Ratio Rank
BNO Calmar Ratio Rank: 8888
Calmar Ratio Rank
BNO Martin Ratio Rank: 5555
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NEAR vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Short Duration Bond Active ETF (NEAR) 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.

NEARBNODifference
Sharpe ratioReturn per unit of total volatility
3.18
2.23

+0.95

Sortino ratioReturn per unit of downside risk
5.07
2.73

+2.34

Omega ratioGain probability vs. loss probability

1.66

1.38

+0.29

Calmar ratioReturn relative to maximum drawdown

3.81

5.17

-1.35

Martin ratioReturn relative to average drawdown

17.49

9.76

+7.73

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NEAR vs. BNO - Sharpe Ratio Comparison

The current NEAR Sharpe Ratio is 3.18, which is higher than the BNO Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of NEAR and BNO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

NEARBNODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.18

2.23

+0.95

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

2.90

0.69

+2.21

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.14

0.37

+0.77

Sharpe Ratio (All Time)

Calculated using the full available price history

1.09

0.14

+0.95

Drawdowns

NEAR vs. BNO - Drawdown Comparison

The maximum NEAR drawdown since its inception was -9.61%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for NEAR and BNO.

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Drawdown Indicators

NEARBNODifference

Max Drawdown

Largest peak-to-trough decline

-9.61%

-87.06%

+77.45%

Max Drawdown (1Y)

Largest decline over 1 year

-1.13%

-17.87%

+16.74%

Max Drawdown (3Y)

Largest decline over 3 years

-1.16%

-23.75%

+22.59%

Max Drawdown (5Y)

Largest decline over 5 years

-1.32%

-33.70%

+32.38%

Max Drawdown (10Y)

Largest decline over 10 years

-9.61%

-75.18%

+65.57%

Current Drawdown

Current decline from peak

-0.09%

-10.29%

+10.20%

Average Drawdown

Average peak-to-trough decline

-0.16%

-40.17%

+40.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.25%

9.45%

-9.20%

Volatility

NEAR vs. BNO - Volatility Comparison

The current volatility for iShares Short Duration Bond Active ETF (NEAR) is 0.37%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that NEAR 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

NEARBNODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.37%

14.22%

-13.85%

Volatility (6M)

Calculated over the trailing 6-month period

1.00%

36.10%

-35.10%

Volatility (1Y)

Calculated over the trailing 1-year period

1.36%

41.46%

-40.10%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.34%

35.38%

-34.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.50%

36.68%

-34.18%

NEAR vs. BNO - Expense Ratio Comparison

NEAR has a 0.25% expense ratio, which is lower than BNO's 0.90% expense ratio.

Dividends

NEAR vs. BNO - Dividend Comparison

NEAR's dividend yield for the trailing twelve months is around 4.44%, while BNO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%0.00%
NEAR
iShares Short Duration Bond Active ETF		4.44%4.54%5.00%4.59%1.78%0.76%1.53%2.69%2.25%1.52%1.07%0.85%

Frequently Asked Questions

NEAR and BNO have a correlation of -0.37, 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 NEAR (0.37%). In terms of maximum drawdown, NEAR dropped -9.61% vs BNO's -87.06%.

On 10-year performance, BNO leads with 13.60% vs 2.85% for NEAR. On fees, NEAR is cheaper at 0.25% per year. On volatility, NEAR has been the lower-risk option at 0.37%. 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 13.60% return vs 2.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

NEAR is cheaper with a 0.25% expense ratio, compared with 0.90% for BNO.

NEAR has the higher dividend yield at 4.44%, compared with 0.00% for BNO.

NEAR is categorized as Short-Term Bond, while BNO is Oil & Gas. They also come from different issuers: iShares and Concierge Technologies. Their fees differ too: 0.25% for NEAR and 0.90% for BNO.

NEAR currently has the higher Sharpe Ratio (3.18 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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