PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
QQQE vs. BNO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QQQE vs. BNO

Last updated Jun 5, 2026

QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - QQQE is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 10 years, QQQE returned 15.43%/yr vs 13.13%/yr for BNO. At a 0.18 correlation, their price movements are largely independent. QQQE charges 0.35%/yr vs 0.90%/yr for BNO.

Performance

QQQE vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) and United States Brent Oil Fund LP (BNO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, QQQE achieves a 18.85% return, which is significantly lower than BNO's 85.31% return. Over the past 10 years, QQQE has outperformed BNO with an annualized return of 15.43%, while BNO has yielded a comparatively lower 13.13% annualized return.

QQQE

1D
-0.22%
1M
9.15%
YTD
18.85%
6M
17.59%
1Y
28.07%
3Y*
18.58%
5Y*
10.25%
10Y*
15.43%

BNO

1D
-2.71%
1M
-9.80%
YTD
85.31%
6M
79.66%
1Y
88.71%
3Y*
26.74%
5Y*
23.48%
10Y*
13.13%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QQQE vs. BNO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QQQE
Direxion NASDAQ-100 Equal Weighted Index Shares		18.85%14.58%6.98%33.76%-24.47%17.93%37.85%36.43%-5.40%26.53%
BNO
United States Brent Oil Fund LP		85.31%-5.44%9.67%-3.43%35.25%62.34%-38.23%36.01%-15.30%15.43%

Correlation

The correlation between QQQE and BNO is -0.26, 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

-0.26

Correlation (3Y)
Calculated over the trailing 3-year period

-0.05

Correlation (5Y)
Calculated over the trailing 5-year period

0.06

Correlation (10Y)
Calculated over the trailing 10-year period

0.14

Correlation (All Time)
Calculated using the full available price history since Mar 22, 2012

0.18

The correlation between QQQE and BNO shifts across timeframes, from -0.26 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Direxion NASDAQ-100 Equal Weighted Index Shares

United States Brent Oil Fund LP

Often compared with QQQE:
QQQE vs. QQQQQQE vs. QQQMQQQE vs. QQEWQQQE vs. SPYGQQQE vs. TQQQQQQE vs. VOOQQQE vs. SPY
Often compared with BNO:
BNO vs. USOBNO vs. XLEBNO vs. USLBNO vs. BOILBNO vs. UNGBNO vs. UCOBNO vs. UNL

Return for Risk

QQQE vs. BNO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QQQE
QQQE Risk / Return Rank: 5959
Overall Rank
QQQE Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
QQQE Sortino Ratio Rank: 5959
Sortino Ratio Rank
QQQE Omega Ratio Rank: 5656
Omega Ratio Rank
QQQE Calmar Ratio Rank: 6161
Calmar Ratio Rank
QQQE Martin Ratio Rank: 5959
Martin Ratio Rank
BNO
BNO Risk / Return Rank: 6565
Overall Rank
BNO Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
BNO Sortino Ratio Rank: 5757
Sortino Ratio Rank
BNO Omega Ratio Rank: 6161
Omega Ratio Rank
BNO Calmar Ratio Rank: 8888
Calmar Ratio Rank
BNO Martin Ratio Rank: 5555
Martin Ratio Rank
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.

QQQE vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) 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.

QQQEBNODifference
Sharpe ratioReturn per unit of total volatility
2.00
2.15

-0.15

Sortino ratioReturn per unit of downside risk
2.74
2.65

+0.08

Omega ratioGain probability vs. loss probability

1.34

1.36

-0.02

Calmar ratioReturn relative to maximum drawdown

3.00

4.99

-1.99

Martin ratioReturn relative to average drawdown

10.34

9.39

+0.96

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQQE vs. BNO - Sharpe Ratio Comparison

The current QQQE Sharpe Ratio is 2.00, which is comparable to the BNO Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of QQQE 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.

Loading charts...

Sharpe Ratios by Period

QQQEBNODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.00

2.15

-0.15

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.51

0.67

-0.16

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.75

0.36

+0.39

Sharpe Ratio (All Time)

Calculated using the full available price history

0.76

0.14

+0.63

Drawdowns

QQQE vs. BNO - Drawdown Comparison

The maximum QQQE drawdown since its inception was -32.14%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for QQQE and BNO.

Loading charts...

Drawdown Indicators

QQQEBNODifference

Max Drawdown

Largest peak-to-trough decline

-32.14%

-87.06%

+54.92%

Max Drawdown (1Y)

Largest decline over 1 year

-9.41%

-17.87%

+8.46%

Max Drawdown (3Y)

Largest decline over 3 years

-21.38%

-23.75%

+2.37%

Max Drawdown (5Y)

Largest decline over 5 years

-32.14%

-33.70%

+1.56%

Max Drawdown (10Y)

Largest decline over 10 years

-32.14%

-75.18%

+43.04%

Current Drawdown

Current decline from peak

-0.32%

-12.72%

+12.40%

Average Drawdown

Average peak-to-trough decline

-5.17%

-40.16%

+34.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.72%

9.48%

-6.76%

Volatility

QQQE vs. BNO - Volatility Comparison

The current volatility for Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) is 3.82%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.12%. This indicates that QQQE 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.

Loading charts...

Volatility by Period

QQQEBNODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.82%

14.12%

-10.30%

Volatility (6M)

Calculated over the trailing 6-month period

10.61%

36.21%

-25.60%

Volatility (1Y)

Calculated over the trailing 1-year period

14.13%

41.56%

-27.43%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.29%

35.40%

-15.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.72%

36.69%

-15.97%

QQQE vs. BNO - Expense Ratio Comparison

QQQE has a 0.35% expense ratio, which is lower than BNO's 0.90% expense ratio.

Dividends

QQQE vs. BNO - Dividend Comparison

QQQE's dividend yield for the trailing twelve months is around 0.52%, while BNO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%
QQQE
Direxion NASDAQ-100 Equal Weighted Index Shares		0.52%0.52%0.86%0.79%0.98%3.83%0.54%0.74%0.80%0.65%1.17%0.57%

Frequently Asked Questions

QQQE and BNO have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BNO has higher volatility (14.12%) compared to QQQE (3.82%). In terms of maximum drawdown, QQQE dropped -32.14% vs BNO's -87.06%.

On 10-year performance, QQQE leads with 15.43% vs 13.13% for BNO. On fees, QQQE is cheaper at 0.35% per year. On volatility, QQQE has been the lower-risk option at 3.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QQQE has performed better with a 15.43% return vs 13.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQE is cheaper with a 0.35% expense ratio, compared with 0.90% for BNO.

QQQE has the higher dividend yield at 0.52%, compared with 0.00% for BNO.

QQQE is categorized as Nasdaq-100, while BNO is Oil & Gas. QQQE tracks NASDAQ-100 Equal Weighted Index, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: Direxion and Concierge Technologies. Their fees differ too: 0.35% for QQQE and 0.90% for BNO.

BNO currently has the higher Sharpe Ratio (2.15 vs 2.00), 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.

Portfolio Optimizer

Find the right allocation for QQQE and BNO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer