QCLN vs. BNO
QCLN (First Trust NASDAQ Clean Edge Green Energy Index Fund) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - QCLN is a Alternative Energy Equities fund tracking the NASDAQ Clean Edge Green Energy, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 10 years, QCLN returned 17.39%/yr vs 13.60%/yr for BNO. At a 0.22 correlation, their price movements are largely independent. QCLN charges 0.60%/yr vs 0.90%/yr for BNO.
Performance
QCLN vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, QCLN achieves a 52.94% return, which is significantly lower than BNO's 90.47% return. Over the past 10 years, QCLN has outperformed BNO with an annualized return of 17.39%, while BNO has yielded a comparatively lower 13.60% annualized return.
QCLN
- 1D
- -0.41%
- 1M
- 16.40%
- YTD
- 52.94%
- 6M
- 50.79%
- 1Y
- 120.21%
- 3Y*
- 12.03%
- 5Y*
- 2.16%
- 10Y*
- 17.39%
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%
QCLN vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund | 52.94% | 31.81% | -18.86% | -10.02% | -30.37% | -3.21% | 184.00% | 42.65% | -12.38% | 32.34% |
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 QCLN and BNO is -0.16, 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 | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2010 | 0.22 |
The correlation between QCLN and BNO shifts across timeframes, from -0.16 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
QCLN vs. BNO — Risk / Return Rank
QCLN
BNO
QCLN vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) 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.
| QCLN | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.26 | ||
| Sortino ratioReturn per unit of downside risk | +1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.38 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 7.62 | 5.17 | +2.46 |
| Martin ratioReturn relative to average drawdown | 26.28 | 9.76 | +16.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QCLN | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.49 | 2.23 | +1.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.06 | 0.69 | -0.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.37 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.14 | +0.06 |
Drawdowns
QCLN vs. BNO - Drawdown Comparison
The maximum QCLN drawdown since its inception was -76.18%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for QCLN and BNO.
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Drawdown Indicators
| QCLN | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.18% | -87.06% | +10.88% |
Max Drawdown (1Y)Largest decline over 1 year | -15.86% | -17.87% | +2.01% |
Max Drawdown (3Y)Largest decline over 3 years | -56.08% | -23.75% | -32.33% |
Max Drawdown (5Y)Largest decline over 5 years | -69.49% | -33.70% | -35.79% |
Max Drawdown (10Y)Largest decline over 10 years | -71.73% | -75.18% | +3.45% |
Current DrawdownCurrent decline from peak | -20.99% | -10.29% | -10.70% |
Average DrawdownAverage peak-to-trough decline | -43.45% | -40.17% | -3.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.59% | 9.45% | -4.86% |
Volatility
QCLN vs. BNO - Volatility Comparison
The current volatility for First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) is 12.56%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that QCLN 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
| QCLN | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.56% | 14.22% | -1.66% |
Volatility (6M)Calculated over the trailing 6-month period | 26.02% | 36.10% | -10.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.88% | 41.46% | -6.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.97% | 35.38% | +2.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.91% | 36.68% | -1.77% |
QCLN vs. BNO - Expense Ratio Comparison
QCLN has a 0.60% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
QCLN vs. BNO - Dividend Comparison
QCLN's dividend yield for the trailing twelve months is around 0.15%, 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% |
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund | 0.15% | 0.25% | 0.87% | 0.76% | 0.33% | 0.01% | 0.30% | 0.85% | 1.03% | 0.45% | 1.24% | 0.72% |
Frequently Asked Questions
QCLN and BNO have a correlation of -0.16, 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 QCLN (12.56%). In terms of maximum drawdown, QCLN dropped -76.18% vs BNO's -87.06%.
On 10-year performance, QCLN leads with 17.39% vs 13.60% for BNO. On fees, QCLN is cheaper at 0.60% per year. On volatility, QCLN has been the lower-risk option at 12.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QCLN has performed better with a 17.39% return vs 13.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QCLN is cheaper with a 0.60% expense ratio, compared with 0.90% for BNO.
QCLN has the higher dividend yield at 0.15%, compared with 0.00% for BNO.
QCLN is categorized as Alternative Energy Equities, while BNO is Oil & Gas. QCLN tracks NASDAQ Clean Edge Green Energy, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: First Trust and Concierge Technologies. Their fees differ too: 0.60% for QCLN and 0.90% for BNO.
QCLN currently has the higher Sharpe Ratio (3.49 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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