RSPC vs. BNO
RSPC (Invesco S&P 500 Equal Weight Communication Services ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - RSPC is a Communications Equities fund tracking the S&P 500 Equal Weight Communication Services Plus Index, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. Both are passively managed. Over the past 5 years, RSPC returned -0.97%/yr vs 15.98%/yr for BNO. At a 0.16 correlation, their price movements are largely independent. RSPC charges 0.40%/yr vs 1.00%/yr for BNO.
Performance
RSPC vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, RSPC achieves a -11.21% return, which is significantly lower than BNO's 43.86% return.
RSPC
- 1D
- -0.64%
- 1M
- -5.94%
- YTD
- -11.21%
- 6M
- -11.40%
- 1Y
- -4.51%
- 3Y*
- 9.99%
- 5Y*
- -0.97%
- 10Y*
- —
BNO
- 1D
- -4.23%
- 1M
- -25.93%
- YTD
- 43.86%
- 6M
- 41.93%
- 1Y
- 39.47%
- 3Y*
- 17.61%
- 5Y*
- 15.98%
- 10Y*
- 10.77%
RSPC vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
RSPC Invesco S&P 500 Equal Weight Communication Services ETF | -11.21% | 18.44% | 17.98% | 17.92% | -29.00% | 14.55% | 22.14% | 21.35% | -11.38% |
BNO United States Brent Oil Fund LP | 43.86% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | -38.23% | 36.01% | -17.00% |
Correlation
The correlation between RSPC and BNO is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Nov 14, 2018 | 0.16 |
The correlation between RSPC and BNO shifts across timeframes, from -0.10 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RSPC vs. BNO — Risk / Return Rank
RSPC
BNO
RSPC vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight Communication Services ETF (RSPC) 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.
| RSPC | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.30 | ||
| Sortino ratioReturn per unit of downside risk | -1.88 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.20 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 1.23 | -1.55 |
| Martin ratioReturn relative to average drawdown | -0.76 | 4.18 | -4.94 |
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Drawdowns
RSPC vs. BNO - Drawdown Comparison
The maximum RSPC drawdown since its inception was -38.03%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for RSPC and BNO.
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Drawdown Indicators
| RSPC | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.03% | -87.06% | +49.03% |
Max Drawdown (1Y)Largest decline over 1 year | -14.05% | -32.25% | +18.20% |
Max Drawdown (3Y)Largest decline over 3 years | -14.06% | -32.25% | +18.19% |
Max Drawdown (5Y)Largest decline over 5 years | -37.96% | -33.70% | -4.26% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -13.95% | -32.25% | +18.30% |
Average DrawdownAverage peak-to-trough decline | -12.69% | -40.10% | +27.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.92% | 9.47% | -3.55% |
Volatility
RSPC vs. BNO - Volatility Comparison
The current volatility for Invesco S&P 500 Equal Weight Communication Services ETF (RSPC) is 4.69%, while United States Brent Oil Fund LP (BNO) has a volatility of 11.33%. This indicates that RSPC 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
| RSPC | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.69% | 11.33% | -6.64% |
Volatility (6M)Calculated over the trailing 6-month period | 9.80% | 37.57% | -27.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.81% | 41.20% | -27.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.60% | 35.70% | -17.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.73% | 36.70% | -15.97% |
RSPC vs. BNO - Expense Ratio Comparison
RSPC has a 0.40% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
RSPC vs. BNO - Dividend Comparison
RSPC's dividend yield for the trailing twelve months is around 1.85%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
RSPC Invesco S&P 500 Equal Weight Communication Services ETF | 1.85% | 1.66% | 1.03% | 0.98% | 1.45% | 1.10% | 1.05% | 0.90% | 0.24% |
Frequently Asked Questions
RSPC and BNO have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (11.33%) compared to RSPC (4.69%). In terms of maximum drawdown, RSPC dropped -38.03% vs BNO's -87.06%.
On 5-year performance, BNO leads with 15.98% vs -0.97% for RSPC. On fees, RSPC is cheaper at 0.40% per year. On volatility, RSPC has been the lower-risk option at 4.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BNO has performed better with a 15.98% return vs -0.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RSPC is cheaper with a 0.40% expense ratio, compared with 1.00% for BNO.
RSPC has the higher dividend yield at 1.85%, compared with 0.00% for BNO.
RSPC is categorized as Communications Equities, while BNO is Oil & Gas. RSPC tracks S&P 500 Equal Weight Communication Services Plus Index, while BNO tracks Crude Oil Brent ICE Near Term Futures. They also come from different issuers: Invesco and USCF Investments. Their fees differ too: 0.40% for RSPC and 1.00% for BNO.
BNO currently has the higher Sharpe Ratio (0.97 vs -0.33), 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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