SHRY vs. BNO
SHRY (First Trust Bloomberg Shareholder Yield ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - SHRY is a Large Cap Blend Equities fund tracking the Bloomberg Shareholder Yield Index - Benchmark TR Gross, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 5 years, SHRY returned 8.22%/yr vs 23.77%/yr for BNO. At a 0.20 correlation, their price movements are largely independent. SHRY charges 0.60%/yr vs 0.90%/yr for BNO.
Performance
SHRY vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, SHRY achieves a 5.11% return, which is significantly lower than BNO's 86.76% return.
SHRY
- 1D
- 0.09%
- 1M
- -1.30%
- YTD
- 5.11%
- 6M
- 6.89%
- 1Y
- 8.24%
- 3Y*
- 14.22%
- 5Y*
- 8.22%
- 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%
SHRY vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHRY First Trust Bloomberg Shareholder Yield ETF | 5.11% | 7.29% | 17.27% | 17.47% | -14.21% | 30.50% | 11.86% | 30.69% | -9.35% | 10.12% |
BNO United States Brent Oil Fund LP | 86.76% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | -38.23% | 36.01% | -15.30% | 49.96% |
Correlation
The correlation between SHRY and BNO is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2017 | 0.20 |
The correlation between SHRY and BNO shifts across timeframes, from -0.05 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SHRY vs. BNO — Risk / Return Rank
SHRY
BNO
SHRY vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Bloomberg Shareholder Yield ETF (SHRY) 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.
| SHRY | BNO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.77 | 2.17 | -1.40 |
Sortino ratioReturn per unit of downside risk | 1.16 | 2.68 | -1.52 |
Omega ratioGain probability vs. loss probability | 1.14 | 1.37 | -0.23 |
Calmar ratioReturn relative to maximum drawdown | 1.13 | 5.39 | -4.26 |
Martin ratioReturn relative to average drawdown | 3.13 | 10.23 | -7.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SHRY | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.77 | 2.17 | -1.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.68 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.14 | +0.47 |
Drawdowns
SHRY vs. BNO - Drawdown Comparison
The maximum SHRY drawdown since its inception was -36.67%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for SHRY and BNO.
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Drawdown Indicators
| SHRY | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.67% | -87.06% | +50.39% |
Max Drawdown (1Y)Largest decline over 1 year | -7.20% | -17.87% | +10.67% |
Max Drawdown (3Y)Largest decline over 3 years | -15.34% | -23.75% | +8.41% |
Max Drawdown (5Y)Largest decline over 5 years | -23.94% | -33.70% | +9.76% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -2.92% | -12.04% | +9.12% |
Average DrawdownAverage peak-to-trough decline | -5.04% | -40.18% | +35.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 9.43% | -6.82% |
Volatility
SHRY vs. BNO - Volatility Comparison
The current volatility for First Trust Bloomberg Shareholder Yield ETF (SHRY) is 2.41%, while United States Brent Oil Fund LP (BNO) has a volatility of 15.03%. This indicates that SHRY 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
| SHRY | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.41% | 15.03% | -12.62% |
Volatility (6M)Calculated over the trailing 6-month period | 7.46% | 36.08% | -28.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.74% | 41.56% | -30.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.67% | 35.37% | -19.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.19% | 36.68% | -18.49% |
SHRY vs. BNO - Expense Ratio Comparison
SHRY has a 0.60% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
SHRY vs. BNO - Dividend Comparison
SHRY's dividend yield for the trailing twelve months is around 1.68%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
SHRY First Trust Bloomberg Shareholder Yield ETF | 1.68% | 1.73% | 1.76% | 1.49% | 1.52% | 0.98% | 1.65% | 1.54% | 1.89% | 0.55% |
Frequently Asked Questions
SHRY and BNO have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (15.03%) compared to SHRY (2.41%). In terms of maximum drawdown, SHRY dropped -36.67% vs BNO's -87.06%.
On 5-year performance, BNO leads with 23.77% vs 8.22% for SHRY. On fees, SHRY is cheaper at 0.60% per year. On volatility, SHRY has been the lower-risk option at 2.41%. 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 23.77% return vs 8.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHRY is cheaper with a 0.60% expense ratio, compared with 0.90% for BNO.
SHRY has the higher dividend yield at 1.68%, compared with 0.00% for BNO.
SHRY is categorized as Large Cap Blend Equities, while BNO is Oil & Gas. SHRY tracks Bloomberg Shareholder Yield Index - Benchmark TR Gross, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: First Trust and Concierge Technologies. Their fees differ too: 0.60% for SHRY and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.17 vs 0.77), 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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