SIXD vs. BNO

Last updated Jun 24, 2026

SIXD (AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - SIXD is a Defined Outcome fund actively managed by Allianz, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. SIXD is actively managed, while BNO is passively managed. At a correlation of -0.38, they often move in opposite directions. SIXD charges 0.74%/yr vs 1.00%/yr for BNO.

Performance

SIXD vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF (SIXD) 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, SIXD achieves a 5.81% return, which is significantly lower than BNO's 50.21% return.

SIXD

• 1D: -0.61%
• 1M: -0.75%
• YTD: 5.81%
• 6M: 5.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNO

• 1D: -1.35%
• 1M: -22.65%
• YTD: 50.21%
• 6M: 47.81%
• 1Y: 38.79%
• 3Y*: 19.32%
• 5Y*: 17.15%
• 10Y*: 11.25%

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

SIXD vs. BNO - Yearly Performance Comparison

	2026 (YTD)	2025
SIXD AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF	5.81%	-0.00%
BNO United States Brent Oil Fund LP	50.21%	1.40%

Correlation

The correlation between SIXD and BNO is -0.38, 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 (All Time) Calculated using the full available price history since Dec 22, 2025	-0.38

Return for Risk

SIXD vs. BNO — Risk / Return Rank

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

SIXD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BNO

BNO Risk / Return Rank: 29
BNO Sharpe Ratio Rank: 27
BNO Sortino Ratio Rank: 28
BNO Omega Ratio Rank: 29
BNO Calmar Ratio Rank: 28
BNO Martin Ratio Rank: 31

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.

SIXD vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF (SIXD) 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.

	SIXD	BNO	Difference
Sharpe ratio: Return per unit of total volatility	—	0.95	—
Sortino ratio: Return per unit of downside risk	—	1.49	—
Omega ratio: Gain probability vs. loss probability	—	1.19	—
Calmar ratio: Return relative to maximum drawdown	—	1.33	—
Martin ratio: Return relative to average drawdown	—	4.21	—

Drawdowns

SIXD vs. BNO - Drawdown Comparison

The maximum SIXD drawdown since its inception was -4.69%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for SIXD and BNO.

Drawdown Indicators

	SIXD	BNO	Difference
Max Drawdown Largest peak-to-trough decline	-4.69%	-87.06%	+82.37%
Max Drawdown (1Y) Largest decline over 1 year	—	-29.25%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-29.25%	—
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	-1.30%	-29.25%	+27.95%
Average Drawdown Average peak-to-trough decline	-0.80%	-40.10%	+39.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	9.28%	—

Volatility

Volatility by Period

	SIXD	BNO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.92%	—
Volatility (6M) Calculated over the trailing 6-month period	—	37.29%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.64%	41.67%	-34.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.64%	35.65%	-28.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.64%	36.68%	-29.04%

SIXD vs. BNO - Expense Ratio Comparison

SIXD has a 0.74% expense ratio, which is lower than BNO's 1.00% expense ratio.

Dividends

SIXD vs. BNO - Dividend Comparison

Neither SIXD nor BNO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SIXD and BNO in my portfolio?

SIXD and BNO have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SIXD or BNO?

On fees, SIXD is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SIXD or BNO?

SIXD is cheaper with a 0.74% expense ratio, compared with 1.00% for BNO.

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

SIXD and BNO have nearly identical dividend yields, around 0.00%.

What is the main difference between SIXD and BNO?

SIXD is categorized as Defined Outcome, while BNO is Oil & Gas. They also come from different issuers: Allianz and USCF Investments. Their fees differ too: 0.74% for SIXD and 1.00% for BNO.