PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
SCHM vs. BNO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SCHM vs. BNO

Last updated Jun 4, 2026

SCHM (Schwab US Mid-Cap ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - SCHM is a Mid Cap Growth Equities fund tracking the Dow Jones US Total Stock Market Mid-Cap, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 10 years, SCHM returned 11.37%/yr vs 13.60%/yr for BNO. At a 0.26 correlation, their price movements are largely independent. SCHM charges 0.04%/yr vs 0.90%/yr for BNO.

Performance

SCHM vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab US Mid-Cap ETF (SCHM) and United States Brent Oil Fund LP (BNO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, SCHM achieves a 19.05% return, which is significantly lower than BNO's 90.47% return. Over the past 10 years, SCHM has underperformed BNO with an annualized return of 11.37%, while BNO has yielded a comparatively higher 13.60% annualized return.

SCHM

1D
-0.03%
1M
5.28%
YTD
19.05%
6M
19.54%
1Y
32.45%
3Y*
18.14%
5Y*
8.07%
10Y*
11.37%

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

SCHM vs. BNO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SCHM
Schwab US Mid-Cap ETF		19.05%10.17%11.98%16.69%-17.07%19.36%15.26%27.48%-8.77%19.60%
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 SCHM and BNO is -0.24, 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

-0.24

Correlation (3Y)
Calculated over the trailing 3-year period

-0.01

Correlation (5Y)
Calculated over the trailing 5-year period

0.12

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

0.21

Correlation (All Time)
Calculated using the full available price history since Jan 14, 2011

0.26

The correlation between SCHM and BNO shifts across timeframes, from -0.24 (1 year) to 0.26 (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 US Mid-Cap ETF

United States Brent Oil Fund LP

Often compared with SCHM:
SCHM vs. VOSCHM vs. SCHASCHM vs. VOOSCHM vs. IJHSCHM vs. SWMCXSCHM vs. VOTSCHM vs. SPMD
Often compared with BNO:
BNO vs. USOBNO vs. XLEBNO vs. USLBNO vs. BOILBNO vs. UNGBNO vs. UCOBNO vs. XOM

Return for Risk

SCHM vs. BNO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SCHM
SCHM Risk / Return Rank: 6565
Overall Rank
SCHM Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
SCHM Sortino Ratio Rank: 6262
Sortino Ratio Rank
SCHM Omega Ratio Rank: 5858
Omega Ratio Rank
SCHM Calmar Ratio Rank: 6969
Calmar Ratio Rank
SCHM Martin Ratio Rank: 7373
Martin Ratio Rank
BNO
BNO Risk / Return Rank: 6565
Overall Rank
BNO Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
BNO Sortino Ratio Rank: 5656
Sortino Ratio Rank
BNO Omega Ratio Rank: 6060
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.

SCHM vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab US Mid-Cap ETF (SCHM) 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.

SCHMBNODifference

Sharpe ratio

Return per unit of total volatility

2.09

2.23

-0.14

Sortino ratio

Return per unit of downside risk

2.94

2.73

+0.22

Omega ratio

Gain probability vs. loss probability

1.36

1.38

-0.01

Calmar ratio

Return relative to maximum drawdown

3.50

5.17

-1.67

Martin ratio

Return relative to average drawdown

14.11

9.76

+4.35

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

SCHM vs. BNO - Sharpe Ratio Comparison

The current SCHM Sharpe Ratio is 2.09, which is comparable to the BNO Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of SCHM 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.

Loading charts...

Sharpe Ratios by Period

SCHMBNODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.09

2.23

-0.14

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.41

0.69

-0.27

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.56

0.37

+0.19

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

0.14

+0.45

Drawdowns

SCHM vs. BNO - Drawdown Comparison

The maximum SCHM drawdown since its inception was -42.43%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for SCHM and BNO.

Loading charts...

Drawdown Indicators

SCHMBNODifference

Max Drawdown

Largest peak-to-trough decline

-42.43%

-87.06%

+44.63%

Max Drawdown (1Y)

Largest decline over 1 year

-9.32%

-17.87%

+8.55%

Max Drawdown (3Y)

Largest decline over 3 years

-23.27%

-23.75%

+0.48%

Max Drawdown (5Y)

Largest decline over 5 years

-26.46%

-33.70%

+7.24%

Max Drawdown (10Y)

Largest decline over 10 years

-42.43%

-75.18%

+32.75%

Current Drawdown

Current decline from peak

-0.03%

-10.29%

+10.26%

Average Drawdown

Average peak-to-trough decline

-5.66%

-40.17%

+34.51%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.31%

9.45%

-7.14%

Volatility

SCHM vs. BNO - Volatility Comparison

The current volatility for Schwab US Mid-Cap ETF (SCHM) is 4.72%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that SCHM 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

SCHMBNODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.72%

14.22%

-9.50%

Volatility (6M)

Calculated over the trailing 6-month period

11.74%

36.10%

-24.36%

Volatility (1Y)

Calculated over the trailing 1-year period

15.62%

41.46%

-25.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.56%

35.38%

-15.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.46%

36.68%

-16.22%

SCHM vs. BNO - Expense Ratio Comparison

SCHM has a 0.04% expense ratio, which is lower than BNO's 0.90% expense ratio.

Dividends

SCHM vs. BNO - Dividend Comparison

SCHM's dividend yield for the trailing twelve months is around 1.22%, 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%
SCHM
Schwab US Mid-Cap ETF		1.22%1.46%1.43%1.50%1.67%1.13%1.31%1.48%1.56%1.27%1.51%1.54%

Frequently Asked Questions

SCHM and BNO have a correlation of -0.24, 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 SCHM (4.72%). In terms of maximum drawdown, SCHM dropped -42.43% vs BNO's -87.06%.

On 10-year performance, BNO leads with 13.60% vs 11.37% for SCHM. On fees, SCHM is cheaper at 0.04% per year. On volatility, SCHM has been the lower-risk option at 4.72%. 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 11.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SCHM is cheaper with a 0.04% expense ratio, compared with 0.90% for BNO.

SCHM has the higher dividend yield at 1.22%, compared with 0.00% for BNO.

SCHM is categorized as Mid Cap Growth Equities, while BNO is Oil & Gas. SCHM tracks Dow Jones US Total Stock Market Mid-Cap, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: Charles Schwab and Concierge Technologies. Their fees differ too: 0.04% for SCHM and 0.90% for BNO.

BNO currently has the higher Sharpe Ratio (2.23 vs 2.09), 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

Find the right allocation for SCHM 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