QNXT vs. BNO
QNXT (iShares Nasdaq-100 ex Top 30 ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - QNXT is a Nasdaq-100 fund tracking the Nasdaq-100 ex Top 30 UCITS Index, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past year, QNXT returned 25.34% vs 91.89% for BNO. At a correlation of -0.08, they often move in opposite directions. QNXT charges 0.20%/yr vs 0.90%/yr for BNO.
Performance
QNXT vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, QNXT achieves a 15.67% return, which is significantly lower than BNO's 90.47% return.
QNXT
- 1D
- -0.61%
- 1M
- 9.65%
- YTD
- 15.67%
- 6M
- 13.13%
- 1Y
- 25.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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%
QNXT vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QNXT iShares Nasdaq-100 ex Top 30 ETF | 15.67% | 14.97% | -2.52% |
BNO United States Brent Oil Fund LP | 90.47% | -5.44% | 1.25% |
Correlation
The correlation between QNXT and BNO is -0.23, 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 | -0.23 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2024 | -0.08 |
The correlation between QNXT and BNO shifts across timeframes, from -0.23 (1 year) to -0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
QNXT vs. BNO — Risk / Return Rank
QNXT
BNO
QNXT vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Nasdaq-100 ex Top 30 ETF (QNXT) 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.
| QNXT | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.38 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | 5.17 | -2.66 |
| Martin ratioReturn relative to average drawdown | 8.17 | 9.76 | -1.59 |
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
| QNXT | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.70 | 2.23 | -0.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.69 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | 0.14 | +0.76 |
Drawdowns
QNXT vs. BNO - Drawdown Comparison
The maximum QNXT drawdown since its inception was -22.25%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for QNXT and BNO.
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Drawdown Indicators
| QNXT | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.25% | -87.06% | +64.81% |
Max Drawdown (1Y)Largest decline over 1 year | -10.16% | -17.87% | +7.71% |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.75% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -0.61% | -10.29% | +9.68% |
Average DrawdownAverage peak-to-trough decline | -3.79% | -40.17% | +36.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.11% | 9.45% | -6.34% |
Volatility
QNXT vs. BNO - Volatility Comparison
The current volatility for iShares Nasdaq-100 ex Top 30 ETF (QNXT) is 3.52%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that QNXT 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
| QNXT | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.52% | 14.22% | -10.70% |
Volatility (6M)Calculated over the trailing 6-month period | 10.92% | 36.10% | -25.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.05% | 41.46% | -26.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.73% | 35.38% | -15.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.73% | 36.68% | -16.95% |
QNXT vs. BNO - Expense Ratio Comparison
QNXT has a 0.20% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
QNXT vs. BNO - Dividend Comparison
QNXT's dividend yield for the trailing twelve months is around 0.60%, 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% |
QNXT iShares Nasdaq-100 ex Top 30 ETF | 0.60% | 0.64% | 0.22% |
Frequently Asked Questions
QNXT and BNO have a correlation of -0.23, 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 QNXT (3.52%). In terms of maximum drawdown, QNXT dropped -22.25% vs BNO's -87.06%.
On 1-year performance, BNO leads with 91.89% vs 25.34% for QNXT. On fees, QNXT is cheaper at 0.20% per year. On volatility, QNXT has been the lower-risk option at 3.52%. 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 91.89% return vs 25.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QNXT is cheaper with a 0.20% expense ratio, compared with 0.90% for BNO.
QNXT has the higher dividend yield at 0.60%, compared with 0.00% for BNO.
QNXT is categorized as Nasdaq-100, while BNO is Oil & Gas. QNXT tracks Nasdaq-100 ex Top 30 UCITS Index, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: iShares and Concierge Technologies. Their fees differ too: 0.20% for QNXT and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.23 vs 1.70), 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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