PRAE vs. BNO

Last updated Jun 24, 2026

PRAE (PlanRock Alternative Growth ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - PRAE is a Diversified Portfolio fund actively managed by PlanRock, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. PRAE is actively managed, while BNO is passively managed. Over the past year, PRAE returned 28.44% vs 38.79% for BNO. At a correlation of -0.02, they often move in opposite directions. PRAE charges 1.43%/yr vs 1.00%/yr for BNO.

Performance

PRAE vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PlanRock Alternative Growth ETF (PRAE) and United States Brent Oil Fund LP (BNO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRAE achieves a 7.60% return, which is significantly lower than BNO's 50.21% return.

PRAE

• 1D: -2.15%
• 1M: -2.20%
• YTD: 7.60%
• 6M: 5.99%
• 1Y: 28.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNO

• 1D: -1.35%
• 1M: -22.65%
• YTD: 50.21%
• 6M: 47.81%
• 1Y: 38.79%
• 3Y*: 19.32%
• 5Y*: 17.15%
• 10Y*: 11.25%

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

PRAE vs. BNO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PRAE PlanRock Alternative Growth ETF	7.60%	13.70%	8.54%	0.07%
BNO United States Brent Oil Fund LP	50.21%	-5.44%	9.67%	-1.73%

Correlation

The correlation between PRAE and BNO is -0.13, 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	-0.13
Correlation (All Time) Calculated using the full available price history since Dec 19, 2023	-0.02

The correlation between PRAE and BNO shifts across timeframes, from -0.13 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PRAE vs. BNO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PRAE

PRAE Risk / Return Rank: 59
PRAE Sharpe Ratio Rank: 60
PRAE Sortino Ratio Rank: 52
PRAE Omega Ratio Rank: 59
PRAE Calmar Ratio Rank: 65
PRAE Martin Ratio Rank: 61

BNO

BNO Risk / Return Rank: 29
BNO Sharpe Ratio Rank: 27
BNO Sortino Ratio Rank: 28
BNO Omega Ratio Rank: 29
BNO Calmar Ratio Rank: 28
BNO Martin Ratio Rank: 31

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.

PRAE vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PlanRock Alternative Growth ETF (PRAE) 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.

	PRAE	BNO	Difference
Sharpe ratio: Return per unit of total volatility	1.81	0.95	+0.85
Sortino ratio: Return per unit of downside risk	2.30	1.49	+0.81
Omega ratio: Gain probability vs. loss probability	1.33	1.19	+0.14
Calmar ratio: Return relative to maximum drawdown	2.92	1.33	+1.59
Martin ratio: Return relative to average drawdown	9.87	4.21	+5.66

PRAE vs. BNO - Sharpe Ratio Comparison

The current PRAE Sharpe Ratio is 1.81, which is higher than the BNO Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of PRAE 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.

Drawdowns

PRAE vs. BNO - Drawdown Comparison

The maximum PRAE drawdown since its inception was -17.67%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for PRAE and BNO.

Drawdown Indicators

	PRAE	BNO	Difference
Max Drawdown Largest peak-to-trough decline	-17.67%	-87.06%	+69.39%
Max Drawdown (1Y) Largest decline over 1 year	-9.77%	-29.25%	+19.48%
Max Drawdown (3Y) Largest decline over 3 years	—	-29.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.70%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.18%	—
Current Drawdown Current decline from peak	-4.44%	-29.25%	+24.81%
Average Drawdown Average peak-to-trough decline	-4.10%	-40.10%	+36.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	9.28%	-6.39%

Volatility

PRAE vs. BNO - Volatility Comparison

The current volatility for PlanRock Alternative Growth ETF (PRAE) is 6.17%, while United States Brent Oil Fund LP (BNO) has a volatility of 10.92%. This indicates that PRAE 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.

Volatility by Period

	PRAE	BNO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.17%	10.92%	-4.75%
Volatility (6M) Calculated over the trailing 6-month period	13.10%	37.29%	-24.19%
Volatility (1Y) Calculated over the trailing 1-year period	15.83%	41.67%	-25.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.10%	35.65%	-20.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.10%	36.68%	-21.58%

PRAE vs. BNO - Expense Ratio Comparison

PRAE has a 1.43% expense ratio, which is higher than BNO's 1.00% expense ratio.

Dividends

PRAE vs. BNO - Dividend Comparison

PRAE's dividend yield for the trailing twelve months is around 0.49%, 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%
PRAE PlanRock Alternative Growth ETF	0.49%	0.18%	0.99%

Frequently Asked Questions

Can I hold both PRAE and BNO in my portfolio?

PRAE and BNO have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRAE or BNO?

BNO has higher volatility (10.92%) compared to PRAE (6.17%). In terms of maximum drawdown, PRAE dropped -17.67% vs BNO's -87.06%.

Which ETF is better, PRAE or BNO?

On 1-year performance, BNO leads with 38.79% vs 28.44% for PRAE. On fees, BNO is cheaper at 1.00% per year. On volatility, PRAE has been the lower-risk option at 6.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PRAE or BNO?

Over the 1-year period, BNO has performed better with a 38.79% return vs 28.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PRAE or BNO?

BNO is cheaper with a 1.00% expense ratio, compared with 1.43% for PRAE.

Which ETF pays a higher dividend yield, PRAE or BNO?

PRAE has the higher dividend yield at 0.49%, compared with 0.00% for BNO.

What is the main difference between PRAE and BNO?

PRAE is categorized as Diversified Portfolio, while BNO is Oil & Gas. They also come from different issuers: PlanRock and USCF Investments. Their fees differ too: 1.43% for PRAE and 1.00% for BNO.

Which has better risk-adjusted returns?

PRAE currently has the higher Sharpe Ratio (1.81 vs 0.95), 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.