RSSL vs. BNO

Last updated Jun 3, 2026

RSSL (Global X Russell 2000 ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - RSSL is a Small Cap Blend Equities fund tracking the Russell 2000 RIC Capped Index, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past year, RSSL returned 43.38% vs 89.50% for BNO. At a correlation of -0.06, they often move in opposite directions. RSSL charges 0.08%/yr vs 0.90%/yr for BNO.

Performance

RSSL vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Russell 2000 ETF (RSSL) and United States Brent Oil Fund LP (BNO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSSL achieves a 18.48% return, which is significantly lower than BNO's 86.76% return.

RSSL

• 1D: 0.94%
• 1M: 4.34%
• YTD: 18.48%
• 6M: 19.47%
• 1Y: 43.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNO

• 1D: 0.76%
• 1M: -7.65%
• YTD: 86.76%
• 6M: 83.45%
• 1Y: 89.50%
• 3Y*: 27.10%
• 5Y*: 23.77%
• 10Y*: 13.38%

*Multi-year figures are annualized to reflect compound growth (CAGR)

RSSL vs. BNO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RSSL Global X Russell 2000 ETF	18.48%	12.87%	8.83%
BNO United States Brent Oil Fund LP	86.76%	-5.44%	2.01%

Correlation

The correlation between RSSL and BNO is -0.25, 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	-0.25
Correlation (All Time) Calculated using the full available price history since Jun 6, 2024	-0.06

The correlation between RSSL and BNO shifts across timeframes, from -0.25 (1 year) to -0.06 (all time), reflecting how their relationship changes across market environments.

Return for Risk

RSSL vs. BNO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RSSL

RSSL Risk / Return Rank: 68
RSSL Sharpe Ratio Rank: 67
RSSL Sortino Ratio Rank: 65
RSSL Omega Ratio Rank: 59
RSSL Calmar Ratio Rank: 77
RSSL Martin Ratio Rank: 73

BNO

BNO Risk / Return Rank: 65
BNO Sharpe Ratio Rank: 64
BNO Sortino Ratio Rank: 56
BNO Omega Ratio Rank: 60
BNO Calmar Ratio Rank: 89
BNO Martin Ratio Rank: 57

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.

RSSL vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Russell 2000 ETF (RSSL) 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.

	RSSL	BNO	Difference
Sharpe ratio Return per unit of total volatility	2.28	2.17	+0.11
Sortino ratio Return per unit of downside risk	3.12	2.68	+0.44
Omega ratio Gain probability vs. loss probability	1.37	1.37	0.00
Calmar ratio Return relative to maximum drawdown	3.96	5.39	-1.43
Martin ratio Return relative to average drawdown	13.98	10.23	+3.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RSSL vs. BNO - Sharpe Ratio Comparison

The current RSSL Sharpe Ratio is 2.28, which is comparable to the BNO Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of RSSL 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.

Sharpe Ratios by Period

	RSSL	BNO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	2.17	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.68	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.37	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	0.14	+0.80

Drawdowns

RSSL vs. BNO - Drawdown Comparison

The maximum RSSL drawdown since its inception was -27.79%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for RSSL and BNO.

Drawdown Indicators

	RSSL	BNO	Difference
Max Drawdown Largest peak-to-trough decline	-27.79%	-87.06%	+59.27%
Max Drawdown (1Y) Largest decline over 1 year	-10.93%	-17.87%	+6.94%
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 Drawdown Current decline from peak	-0.15%	-12.04%	+11.89%
Average Drawdown Average peak-to-trough decline	-5.71%	-40.18%	+34.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	9.43%	-6.33%

Volatility

RSSL vs. BNO - Volatility Comparison

The current volatility for Global X Russell 2000 ETF (RSSL) is 5.62%, while United States Brent Oil Fund LP (BNO) has a volatility of 15.03%. This indicates that RSSL 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.

Volatility by Period

	RSSL	BNO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.62%	15.03%	-9.41%
Volatility (6M) Calculated over the trailing 6-month period	13.49%	36.08%	-22.59%
Volatility (1Y) Calculated over the trailing 1-year period	19.11%	41.56%	-22.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.46%	35.37%	-12.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.46%	36.68%	-14.22%

RSSL vs. BNO - Expense Ratio Comparison

RSSL has a 0.08% expense ratio, which is lower than BNO's 0.90% expense ratio.

Dividends

RSSL vs. BNO - Dividend Comparison

RSSL's dividend yield for the trailing twelve months is around 1.27%, 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%
RSSL Global X Russell 2000 ETF	1.27%	1.35%	0.99%

Frequently Asked Questions

Can I hold both RSSL and BNO in my portfolio?

RSSL and BNO have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSSL or BNO?

BNO has higher volatility (15.03%) compared to RSSL (5.62%). In terms of maximum drawdown, RSSL dropped -27.79% vs BNO's -87.06%.

Which ETF is better, RSSL or BNO?

On 1-year performance, BNO leads with 89.50% vs 43.38% for RSSL. On fees, RSSL is cheaper at 0.08% per year. On volatility, RSSL has been the lower-risk option at 5.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSSL or BNO?

Over the 1-year period, BNO has performed better with a 89.50% return vs 43.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSSL or BNO?

RSSL is cheaper with a 0.08% expense ratio, compared with 0.90% for BNO.

Which ETF pays a higher dividend yield, RSSL or BNO?

RSSL has the higher dividend yield at 1.27%, compared with 0.00% for BNO.

What is the main difference between RSSL and BNO?

RSSL is categorized as Small Cap Blend Equities, while BNO is Oil & Gas. RSSL tracks Russell 2000 RIC Capped Index, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: Global X and Concierge Technologies. Their fees differ too: 0.08% for RSSL and 0.90% for BNO.

Which has better risk-adjusted returns?

RSSL currently has the higher Sharpe Ratio (2.28 vs 2.17), 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.