SIXJ vs. BNO
SIXJ (AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - SIXJ is a Options Trading fund tracking the S&P 500, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. Both are passively managed. Over the past 3 years, SIXJ returned 13.23%/yr vs 20.31%/yr for BNO. Their 0.02 correlation means their historical movements had little consistent relationship. SIXJ charges 0.74%/yr vs 1.00%/yr for BNO.
Performance
SIXJ vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, SIXJ achieves a 6.88% return, which is significantly lower than BNO's 77.90% return.
SIXJ
- 1D
- 0.44%
- 1M
- 0.52%
- 6M
- 6.12%
- YTD
- 6.88%
- 1Y
- 13.89%
- 3Y*
- 13.23%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 8.65%
BNO
- 1D
- 1.45%
- 1M
- 27.00%
- 6M
- 52.90%
- YTD
- 77.90%
- 1Y
- 62.83%
- 3Y*
- 20.31%
- 5Y*
- 20.89%
- 10Y*
- 15.06%
- ALL TIME*
- 4.31%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $107.13M | $97.34M | $147.52M | |
| $764.48K | $1.20M | $745.05K |
SIXJ vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SIXJ AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF | 6.88% | 12.81% | 14.48% | 18.07% | -10.33% |
BNO United States Brent Oil Fund LP | 77.90% | -5.44% | 9.67% | -3.43% | 35.25% |
Correlation
The correlation between SIXJ and BNO is -0.27, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.27 |
Correlation (3Y) Balances recent behavior with more history. | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2022 | 0.02 |
The correlation between SIXJ and BNO shifts across timeframes, from -0.27 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SIXJ vs. BNO — Risk / Return Rank
SIXJ
BNO
SIXJ vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF (SIXJ) 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.
| SIXJ | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.89 | ||
| Sortino ratioReturn per unit of downside risk | +1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.24 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.89 | 1.70 | +1.19 |
| Martin ratioReturn relative to average drawdown | 15.40 | 5.15 | +10.25 |
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Drawdowns
SIXJ vs. BNO - Drawdown Comparison
The maximum SIXJ drawdown since its inception was -14.07%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for SIXJ and BNO.
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Drawdown Indicators
| SIXJ | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.07% | -87.06% | +72.99% |
Max Drawdown (1Y)Largest decline over 1 year | -4.53% | -34.46% | +29.93% |
Max Drawdown (3Y)Largest decline over 3 years | -10.89% | -34.46% | +23.57% |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -0.29% | -16.21% | +15.92% |
Average DrawdownAverage peak-to-trough decline | -2.78% | -39.99% | +37.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 11.86% | -11.01% |
Volatility
SIXJ vs. BNO - Volatility Comparison
The current volatility for AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF (SIXJ) is 1.96%, while United States Brent Oil Fund LP (BNO) has a volatility of 17.47%. This indicates that SIXJ 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
| SIXJ | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.96% | 17.47% | -15.51% |
Volatility (6M)Calculated over the trailing 6-month period | 5.00% | 40.96% | -35.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.94% | 44.54% | -38.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.91% | 36.41% | -26.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.91% | 36.98% | -27.07% |
SIXJ vs. BNO - Expense Ratio Comparison
SIXJ has a 0.74% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
SIXJ vs. BNO - Dividend Comparison
Neither SIXJ nor BNO has paid dividends to shareholders.
Frequently Asked Questions
SIXJ and BNO have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (17.47%) compared to SIXJ (1.96%). In terms of maximum drawdown, SIXJ dropped -14.07% vs BNO's -87.06%.
On 3-year performance, BNO leads with 20.31% vs 13.23% for SIXJ. On fees, SIXJ is cheaper at 0.74% per year. On volatility, SIXJ has been the lower-risk option at 1.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BNO has performed better with a 20.31% return vs 13.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SIXJ is cheaper with a 0.74% expense ratio, compared with 1.00% for BNO.
SIXJ and BNO have nearly identical dividend yields, around 0.00%.
SIXJ is categorized as Options Trading, while BNO is Oil & Gas. SIXJ tracks S&P 500, while BNO tracks Crude Oil Brent ICE Near Term Futures. They also come from different issuers: Allianz and USCF. Their fees differ too: 0.74% for SIXJ and 1.00% for BNO.
SIXJ currently has the higher Sharpe Ratio (2.21 vs 1.32), 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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