RECS vs. BNO
RECS (Columbia Research Enhanced Core ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - RECS is a Large Cap Growth Equities fund tracking the Beta Advantage Research Enhanced U.S. Equity Index, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 10 years, RECS returned 9.89%/yr vs 13.60%/yr for BNO. At a 0.09 correlation, their price movements are largely independent. RECS charges 0.15%/yr vs 0.90%/yr for BNO.
Performance
RECS vs. BNO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, RECS achieves a 6.61% return, which is significantly lower than BNO's 90.47% return. Over the past 10 years, RECS has underperformed BNO with an annualized return of 9.89%, while BNO has yielded a comparatively higher 13.60% annualized return.
RECS
- 1D
- -0.75%
- 1M
- 4.11%
- YTD
- 6.61%
- 6M
- 6.84%
- 1Y
- 25.02%
- 3Y*
- 21.66%
- 5Y*
- 14.04%
- 10Y*
- 9.89%
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%
RECS vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RECS Columbia Research Enhanced Core ETF | 6.61% | 19.30% | 26.27% | 23.19% | -14.39% | 32.73% | 15.35% | -0.93% | 0.00% | 0.00% |
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 RECS and BNO is -0.31, 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 | -0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2010 | 0.09 |
The correlation between RECS and BNO shifts across timeframes, from -0.31 (1 year) to 0.12 (10 years), 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.
Return for Risk
RECS vs. BNO — Risk / Return Rank
RECS
BNO
RECS vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia Research Enhanced Core ETF (RECS) 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.
| RECS | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.38 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.85 | 5.17 | -2.32 |
| Martin ratioReturn relative to average drawdown | 12.27 | 9.76 | +2.51 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| RECS | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.13 | 2.23 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.86 | 0.69 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | 0.37 | +0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.14 | +0.24 |
Drawdowns
RECS vs. BNO - Drawdown Comparison
The maximum RECS drawdown since its inception was -34.29%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for RECS and BNO.
Loading charts...
Drawdown Indicators
| RECS | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.29% | -87.06% | +52.77% |
Max Drawdown (1Y)Largest decline over 1 year | -8.82% | -17.87% | +9.05% |
Max Drawdown (3Y)Largest decline over 3 years | -18.60% | -23.75% | +5.15% |
Max Drawdown (5Y)Largest decline over 5 years | -22.08% | -33.70% | +11.62% |
Max Drawdown (10Y)Largest decline over 10 years | -34.29% | -75.18% | +40.89% |
Current DrawdownCurrent decline from peak | -0.93% | -10.29% | +9.36% |
Average DrawdownAverage peak-to-trough decline | -1.28% | -40.17% | +38.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 9.45% | -7.41% |
Volatility
RECS vs. BNO - Volatility Comparison
The current volatility for Columbia Research Enhanced Core ETF (RECS) is 2.97%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that RECS 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
| RECS | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.97% | 14.22% | -11.25% |
Volatility (6M)Calculated over the trailing 6-month period | 8.84% | 36.10% | -27.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.78% | 41.46% | -29.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.38% | 35.38% | -19.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.22% | 36.68% | -20.46% |
RECS vs. BNO - Expense Ratio Comparison
RECS has a 0.15% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
RECS vs. BNO - Dividend Comparison
RECS's dividend yield for the trailing twelve months is around 1.04%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RECS Columbia Research Enhanced Core ETF | 1.04% | 1.11% | 1.09% | 1.00% | 1.41% | 20.64% | 1.09% | 0.49% |
Frequently Asked Questions
RECS and BNO have a correlation of -0.31, 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 RECS (2.97%). In terms of maximum drawdown, RECS dropped -34.29% vs BNO's -87.06%.
On 10-year performance, BNO leads with 13.60% vs 9.89% for RECS. On fees, RECS is cheaper at 0.15% per year. On volatility, RECS has been the lower-risk option at 2.97%. 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 13.60% return vs 9.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RECS is cheaper with a 0.15% expense ratio, compared with 0.90% for BNO.
RECS has the higher dividend yield at 1.04%, compared with 0.00% for BNO.
RECS is categorized as Large Cap Growth Equities, while BNO is Oil & Gas. RECS tracks Beta Advantage Research Enhanced U.S. Equity Index, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: Ameriprise Financial and Concierge Technologies. Their fees differ too: 0.15% for RECS and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.23 vs 2.13), 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.
Find the right allocation for RECS 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