PCIG vs. BNO
PCIG (Polen Capital International Growth ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - PCIG is a Foreign Large Cap Equities fund actively managed by Polen, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. PCIG is actively managed, while BNO is passively managed. Over the past year, PCIG returned -4.20% vs 54.59% for BNO. Their -0.16 correlation means they have often moved in opposite directions in the past. PCIG charges 0.85%/yr vs 1.00%/yr for BNO.
Performance
PCIG vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, PCIG achieves a -3.73% return, which is significantly lower than BNO's 68.89% return.
PCIG
- 1D
- -0.11%
- 1M
- 0.45%
- 6M
- -5.26%
- YTD
- -3.73%
- 1Y
- -4.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -5.18%
BNO
- 1D
- -5.06%
- 1M
- 20.57%
- 6M
- 52.91%
- YTD
- 68.89%
- 1Y
- 54.59%
- 3Y*
- 17.84%
- 5Y*
- 21.29%
- 10Y*
- 13.80%
- ALL TIME*
- 3.97%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $109.23M | $101.30M | $143.17M | |
| $54.08K | $64.30K | $56.43K |
PCIG vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PCIG Polen Capital International Growth ETF | -3.73% | -0.02% | -8.47% |
BNO United States Brent Oil Fund LP | 68.89% | -5.44% | -3.39% |
Correlation
The correlation between PCIG and BNO is -0.31, 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. | -0.31 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2024 | -0.16 |
The correlation between PCIG and BNO shifts across timeframes, from -0.31 (1 year) to -0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PCIG vs. BNO — Risk / Return Rank
PCIG
BNO
PCIG vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Polen Capital International Growth ETF (PCIG) 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.
| PCIG | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.44 | ||
| Sortino ratioReturn per unit of downside risk | -1.97 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.23 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 1.59 | -1.80 |
| Martin ratioReturn relative to average drawdown | -0.44 | 4.81 | -5.25 |
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Drawdowns
PCIG vs. BNO - Drawdown Comparison
The maximum PCIG drawdown since its inception was -23.40%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for PCIG and BNO.
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Drawdown Indicators
| PCIG | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.40% | -87.06% | +63.66% |
Max Drawdown (1Y)Largest decline over 1 year | -20.69% | -34.46% | +13.77% |
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 | -12.86% | -20.46% | +7.60% |
Average DrawdownAverage peak-to-trough decline | -7.58% | -39.99% | +32.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.48% | 11.41% | -1.93% |
Volatility
PCIG vs. BNO - Volatility Comparison
The current volatility for Polen Capital International Growth ETF (PCIG) is 6.07%, while United States Brent Oil Fund LP (BNO) has a volatility of 18.59%. This indicates that PCIG 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
| PCIG | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.07% | 18.59% | -12.52% |
Volatility (6M)Calculated over the trailing 6-month period | 16.18% | 41.33% | -25.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.73% | 44.80% | -25.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.36% | 36.47% | -18.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.36% | 37.01% | -18.65% |
PCIG vs. BNO - Expense Ratio Comparison
PCIG has a 0.85% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
PCIG vs. BNO - Dividend Comparison
PCIG's dividend yield for the trailing twelve months is around 0.15%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% |
PCIG Polen Capital International Growth ETF | 0.15% | 0.14% | 0.36% |
Frequently Asked Questions
PCIG and BNO have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (18.59%) compared to PCIG (6.07%). In terms of maximum drawdown, PCIG dropped -23.40% vs BNO's -87.06%.
On 1-year performance, BNO leads with 54.59% vs -4.20% for PCIG. On fees, PCIG is cheaper at 0.85% per year. On volatility, PCIG has been the lower-risk option at 6.07%. 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 54.59% return vs -4.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PCIG is cheaper with a 0.85% expense ratio, compared with 1.00% for BNO.
PCIG has the higher dividend yield at 0.15%, compared with 0.00% for BNO.
PCIG is categorized as Foreign Large Cap Equities, while BNO is Oil & Gas. They also come from different issuers: Polen and USCF. Their fees differ too: 0.85% for PCIG and 1.00% for BNO.
BNO currently has the higher Sharpe Ratio (1.23 vs -0.21), 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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