QABA vs. BNO
QABA (First Trust NASDAQ ABA Community Bank Index Fund) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - QABA is a Financials Equities fund tracking the NASDAQ OMX ABA Community Bank Index, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. Both are passively managed. Over the past 10 years, QABA returned 8.38%/yr vs 15.06%/yr for BNO. Their 0.18 correlation means their historical movements had little consistent relationship. QABA charges 0.60%/yr vs 1.00%/yr for BNO.
Performance
QABA vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, QABA achieves a 23.18% return, which is significantly lower than BNO's 77.90% return. Over the past 10 years, QABA has underperformed BNO with an annualized return of 8.38%, while BNO has yielded a comparatively higher 15.06% annualized return.
QABA
- 1D
- 0.11%
- 1M
- 2.02%
- 6M
- 16.07%
- YTD
- 23.18%
- 1Y
- 33.48%
- 3Y*
- 17.94%
- 5Y*
- 8.03%
- 10Y*
- 8.38%
- ALL TIME*
- 9.66%
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 | |
| $803.45K | $564.12K | $491.36K |
QABA vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QABA First Trust NASDAQ ABA Community Bank Index Fund | 23.18% | 4.62% | 14.49% | -2.18% | -9.01% | 34.20% | -10.70% | 22.85% | -16.47% | 0.75% |
BNO United States Brent Oil Fund LP | 77.90% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | -38.23% | 36.01% | -15.30% | 15.43% |
Correlation
The correlation between QABA and BNO is -0.28, 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. | -0.28 |
Correlation (3Y) Balances recent behavior with more history. | -0.08 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.04 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jun 2, 2010 | 0.18 |
The correlation between QABA and BNO shifts across timeframes, from -0.28 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
QABA vs. BNO — Risk / Return Rank
QABA
BNO
QABA vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust NASDAQ ABA Community Bank Index Fund (QABA) 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.
| QABA | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.24 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 1.70 | +0.78 |
| Martin ratioReturn relative to average drawdown | 6.49 | 5.15 | +1.34 |
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Drawdowns
QABA vs. BNO - Drawdown Comparison
The maximum QABA drawdown since its inception was -49.30%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for QABA and BNO.
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Drawdown Indicators
| QABA | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.30% | -87.06% | +37.76% |
Max Drawdown (1Y)Largest decline over 1 year | -12.49% | -34.46% | +21.97% |
Max Drawdown (3Y)Largest decline over 3 years | -25.82% | -34.46% | +8.64% |
Max Drawdown (5Y)Largest decline over 5 years | -42.93% | -34.46% | -8.47% |
Max Drawdown (10Y)Largest decline over 10 years | -49.30% | -75.18% | +25.88% |
Current DrawdownCurrent decline from peak | -1.28% | -16.21% | +14.93% |
Average DrawdownAverage peak-to-trough decline | -11.33% | -39.99% | +28.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.76% | 11.86% | -7.10% |
Volatility
QABA vs. BNO - Volatility Comparison
The current volatility for First Trust NASDAQ ABA Community Bank Index Fund (QABA) is 5.34%, while United States Brent Oil Fund LP (BNO) has a volatility of 17.47%. This indicates that QABA 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
| QABA | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.34% | 17.47% | -12.13% |
Volatility (6M)Calculated over the trailing 6-month period | 14.48% | 40.96% | -26.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.01% | 44.54% | -22.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.22% | 36.41% | -10.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.59% | 36.98% | -8.39% |
QABA vs. BNO - Expense Ratio Comparison
QABA has a 0.60% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
QABA vs. BNO - Dividend Comparison
QABA's dividend yield for the trailing twelve months is around 2.22%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
QABA First Trust NASDAQ ABA Community Bank Index Fund | 2.22% | 2.52% | 2.37% | 2.71% | 2.10% | 1.68% | 2.55% | 1.95% | 1.90% | 1.42% | 1.13% | 1.39% |
Frequently Asked Questions
QABA and BNO have a correlation of -0.28, 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 QABA (5.34%). In terms of maximum drawdown, QABA dropped -49.30% vs BNO's -87.06%.
On 10-year performance, BNO leads with 15.06% vs 8.38% for QABA. On fees, QABA is cheaper at 0.60% per year. On volatility, QABA has been the lower-risk option at 5.34%. 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 15.06% return vs 8.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QABA is cheaper with a 0.60% expense ratio, compared with 1.00% for BNO.
QABA has the higher dividend yield at 2.22%, compared with 0.00% for BNO.
QABA is categorized as Financials Equities, while BNO is Oil & Gas. QABA tracks NASDAQ OMX ABA Community Bank Index, while BNO tracks Crude Oil Brent ICE Near Term Futures. They also come from different issuers: First Trust and USCF. Their fees differ too: 0.60% for QABA and 1.00% for BNO.
QABA currently has the higher Sharpe Ratio (1.41 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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