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SCHB vs. BNO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SCHB vs. BNO

Last updated Jun 5, 2026

SCHB (Schwab U.S. Broad Market ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - SCHB is a Large Cap Blend Equities fund tracking the Dow Jones U.S. Broad Stock Market Index, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 10 years, SCHB returned 15.02%/yr vs 13.13%/yr for BNO. At a 0.25 correlation, their price movements are largely independent. SCHB charges 0.03%/yr vs 0.90%/yr for BNO.

Performance

SCHB vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Broad Market ETF (SCHB) and United States Brent Oil Fund LP (BNO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SCHB achieves a 11.78% return, which is significantly lower than BNO's 85.31% return. Over the past 10 years, SCHB has outperformed BNO with an annualized return of 15.02%, while BNO has yielded a comparatively lower 13.13% annualized return.

SCHB

1D
0.45%
1M
4.65%
YTD
11.78%
6M
11.45%
1Y
28.80%
3Y*
22.39%
5Y*
12.86%
10Y*
15.02%

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)

SCHB vs. BNO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SCHB
Schwab U.S. Broad Market ETF		11.78%16.94%23.93%26.16%-19.46%25.84%20.76%30.79%-5.43%21.20%
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 SCHB 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

0.08

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

0.19

Correlation (All Time)
Calculated using the full available price history since Jun 3, 2010

0.25

The correlation between SCHB and BNO shifts across timeframes, from -0.31 (1 year) to 0.25 (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.

Schwab U.S. Broad Market ETF

United States Brent Oil Fund LP

Often compared with SCHB:
SCHB vs. VTISCHB vs. SCHGSCHB vs. SCHXSCHB vs. VOOSCHB vs. SCHDSCHB vs. SWTSXSCHB vs. SPY
Often compared with BNO:
BNO vs. USOBNO vs. XLEBNO vs. USLBNO vs. BOILBNO vs. UNGBNO vs. UCOBNO vs. XOM

Return for Risk

SCHB vs. BNO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SCHB
SCHB Risk / Return Rank: 7373
Overall Rank
SCHB Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
SCHB Sortino Ratio Rank: 7373
Sortino Ratio Rank
SCHB Omega Ratio Rank: 7373
Omega Ratio Rank
SCHB Calmar Ratio Rank: 6666
Calmar Ratio Rank
SCHB Martin Ratio Rank: 7878
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.

SCHB vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Broad Market ETF (SCHB) 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.

SCHBBNODifference
Sharpe ratioReturn per unit of total volatility
2.39
2.15

+0.24

Sortino ratioReturn per unit of downside risk
3.25
2.65

+0.60

Omega ratioGain probability vs. loss probability

1.43

1.36

+0.07

Calmar ratioReturn relative to maximum drawdown

3.25

4.99

-1.74

Martin ratioReturn relative to average drawdown

14.90

9.39

+5.51

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

SCHB vs. BNO - Sharpe Ratio Comparison

The current SCHB Sharpe Ratio is 2.39, which is comparable to the BNO Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of SCHB 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.

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Sharpe Ratios by Period

SCHBBNODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.39

2.15

+0.24

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.75

0.67

+0.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.82

0.36

+0.46

Sharpe Ratio (All Time)

Calculated using the full available price history

0.83

0.14

+0.70

Drawdowns

SCHB vs. BNO - Drawdown Comparison

The maximum SCHB drawdown since its inception was -35.27%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for SCHB and BNO.

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Drawdown Indicators

SCHBBNODifference

Max Drawdown

Largest peak-to-trough decline

-35.27%

-87.06%

+51.79%

Max Drawdown (1Y)

Largest decline over 1 year

-8.91%

-17.87%

+8.96%

Max Drawdown (3Y)

Largest decline over 3 years

-19.34%

-23.75%

+4.41%

Max Drawdown (5Y)

Largest decline over 5 years

-25.41%

-33.70%

+8.29%

Max Drawdown (10Y)

Largest decline over 10 years

-35.27%

-75.18%

+39.91%

Current Drawdown

Current decline from peak

-0.27%

-12.72%

+12.45%

Average Drawdown

Average peak-to-trough decline

-4.11%

-40.16%

+36.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.94%

9.48%

-7.54%

Volatility

SCHB vs. BNO - Volatility Comparison

The current volatility for Schwab U.S. Broad Market ETF (SCHB) is 2.97%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.12%. This indicates that SCHB 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

SCHBBNODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.97%

14.12%

-11.15%

Volatility (6M)

Calculated over the trailing 6-month period

9.14%

36.21%

-27.07%

Volatility (1Y)

Calculated over the trailing 1-year period

12.11%

41.56%

-29.45%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.24%

35.40%

-18.16%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.31%

36.69%

-18.38%

SCHB vs. BNO - Expense Ratio Comparison

SCHB has a 0.03% expense ratio, which is lower than BNO's 0.90% expense ratio.

Dividends

SCHB vs. BNO - Dividend Comparison

SCHB's dividend yield for the trailing twelve months is around 1.01%, 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%
SCHB
Schwab U.S. Broad Market ETF		1.01%1.11%1.24%1.40%1.61%1.21%1.63%1.80%2.00%1.65%1.86%2.00%

Frequently Asked Questions

SCHB 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 (14.12%) compared to SCHB (2.97%). In terms of maximum drawdown, SCHB dropped -35.27% vs BNO's -87.06%.

On 10-year performance, SCHB leads with 15.02% vs 13.13% for BNO. On fees, SCHB is cheaper at 0.03% per year. On volatility, SCHB 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, SCHB has performed better with a 15.02% return vs 13.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SCHB is cheaper with a 0.03% expense ratio, compared with 0.90% for BNO.

SCHB has the higher dividend yield at 1.01%, compared with 0.00% for BNO.

SCHB is categorized as Large Cap Blend Equities, while BNO is Oil & Gas. SCHB tracks Dow Jones U.S. Broad Stock Market Index, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: Charles Schwab and Concierge Technologies. Their fees differ too: 0.03% for SCHB and 0.90% for BNO.

SCHB currently has the higher Sharpe Ratio (2.39 vs 2.15), 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

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