PINK vs. BNO
PINK (Simplify Health Care ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - PINK is a Health & Biotech Equities fund actively managed by Simplify, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. PINK is actively managed, while BNO is passively managed. Over the past 3 years, PINK returned 14.07%/yr vs 20.31%/yr for BNO. Their -0.07 correlation means they have often moved in opposite directions in the past. PINK charges 0.50%/yr vs 1.00%/yr for BNO.
Performance
PINK vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, PINK achieves a 6.64% return, which is significantly lower than BNO's 77.90% return.
PINK
- 1D
- -1.57%
- 1M
- -3.09%
- 6M
- 8.45%
- YTD
- 6.64%
- 1Y
- 34.24%
- 3Y*
- 14.07%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.20%
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 | |
| $3.41M | $3.95M | $4.91M |
PINK vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PINK Simplify Health Care ETF | 6.64% | 24.34% | 8.81% | 3.80% | -4.41% | 11.45% |
BNO United States Brent Oil Fund LP | 77.90% | -5.44% | 9.67% | -3.43% | 35.25% | -3.86% |
Correlation
The correlation between PINK and BNO is -0.36, 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. | -0.36 |
Correlation (3Y) Balances recent behavior with more history. | -0.20 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 2021 | -0.07 |
Over the past year, the inverse relationship between PINK and BNO has strengthened: their correlation has moved from -0.07 to -0.36, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
PINK vs. BNO — Risk / Return Rank
PINK
BNO
PINK vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Health Care ETF (PINK) 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.
| PINK | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.24 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 1.70 | +0.37 |
| Martin ratioReturn relative to average drawdown | 6.22 | 5.15 | +1.07 |
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Drawdowns
PINK vs. BNO - Drawdown Comparison
The maximum PINK drawdown since its inception was -18.77%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for PINK and BNO.
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Drawdown Indicators
| PINK | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.77% | -87.06% | +68.29% |
Max Drawdown (1Y)Largest decline over 1 year | -16.81% | -34.46% | +17.65% |
Max Drawdown (3Y)Largest decline over 3 years | -18.77% | -34.46% | +15.69% |
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 | -3.09% | -16.21% | +13.12% |
Average DrawdownAverage peak-to-trough decline | -6.60% | -39.99% | +33.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.56% | 11.86% | -6.30% |
Volatility
PINK vs. BNO - Volatility Comparison
The current volatility for Simplify Health Care ETF (PINK) is 4.86%, while United States Brent Oil Fund LP (BNO) has a volatility of 17.47%. This indicates that PINK 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
| PINK | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.86% | 17.47% | -12.61% |
Volatility (6M)Calculated over the trailing 6-month period | 13.76% | 40.96% | -27.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.69% | 44.54% | -25.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.57% | 36.41% | -18.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.57% | 36.98% | -19.41% |
PINK vs. BNO - Expense Ratio Comparison
PINK has a 0.50% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
PINK vs. BNO - Dividend Comparison
PINK's dividend yield for the trailing twelve months is around 0.64%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PINK Simplify Health Care ETF | 0.64% | 0.68% | 0.32% | 0.94% | 0.42% | 0.04% |
Frequently Asked Questions
PINK and BNO have a correlation of -0.36, 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 PINK (4.86%). In terms of maximum drawdown, PINK dropped -18.77% vs BNO's -87.06%.
On 3-year performance, BNO leads with 20.31% vs 14.07% for PINK. On fees, PINK is cheaper at 0.50% per year. On volatility, PINK has been the lower-risk option at 4.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BNO has performed better with a 20.31% return vs 14.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PINK is cheaper with a 0.50% expense ratio, compared with 1.00% for BNO.
PINK has the higher dividend yield at 0.64%, compared with 0.00% for BNO.
PINK is categorized as Health & Biotech Equities, while BNO is Oil & Gas. They also come from different issuers: Simplify and USCF. Their fees differ too: 0.50% for PINK and 1.00% for BNO.
PINK currently has the higher Sharpe Ratio (1.87 vs 1.32), 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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