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 0.35%/yr vs 19.90%/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 -7.96% return, which is significantly lower than BNO's 65.18% return.
RSPC
- 1D
- 0.44%
- 1M
- -0.23%
- 6M
- -6.90%
- YTD
- -7.96%
- 1Y
- -1.51%
- 3Y*
- 9.54%
- 5Y*
- 0.35%
- 10Y*
- —
BNO
- 1D
- -1.70%
- 1M
- 6.58%
- 6M
- 58.17%
- YTD
- 65.18%
- 1Y
- 55.11%
- 3Y*
- 20.77%
- 5Y*
- 19.90%
- 10Y*
- 12.78%
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 | -7.96% | 18.44% | 17.98% | 17.92% | -29.00% | 14.55% | 22.14% | 21.35% | -11.38% |
BNO United States Brent Oil Fund LP | 65.18% | -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 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
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 | -1.40 | ||
| Sortino ratioReturn per unit of downside risk | -1.94 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.24 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.10 | 1.61 | -1.71 |
| Martin ratioReturn relative to average drawdown | -0.23 | 4.66 | -4.89 |
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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 | -14.71% | -34.46% | +19.75% |
Max Drawdown (3Y)Largest decline over 3 years | -14.71% | -34.46% | +19.75% |
Max Drawdown (5Y)Largest decline over 5 years | -37.73% | -34.46% | -3.27% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -10.80% | -22.20% | +11.40% |
Average DrawdownAverage peak-to-trough decline | -12.69% | -40.06% | +27.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.62% | 11.87% | -5.25% |
Volatility
RSPC vs. BNO - Volatility Comparison
The current volatility for Invesco S&P 500 Equal Weight Communication Services ETF (RSPC) is 4.95%, while United States Brent Oil Fund LP (BNO) has a volatility of 15.19%. 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 | 4.95% | 15.19% | -10.24% |
Volatility (6M)Calculated over the trailing 6-month period | 10.39% | 39.16% | -28.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.01% | 42.74% | -28.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.63% | 36.11% | -17.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.70% | 36.77% | -16.07% |
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 1.78%, 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 | 1.78% | 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 (15.19%) compared to RSPC (4.95%). In terms of maximum drawdown, RSPC dropped -38.03% vs BNO's -87.06%.
On 5-year performance, BNO leads with 19.90% vs 0.35% for RSPC. On fees, RSPC is cheaper at 0.40% per year. On volatility, RSPC has been the lower-risk option at 4.95%. 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 19.90% return vs 0.35%. 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 1.78%, 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 (1.30 vs -0.11), 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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