SXQG vs. BNO
SXQG (ETC 6 Meridian Quality Growth ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - SXQG is a Large Cap Growth Equities fund actively managed by Meridian, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. SXQG is actively managed, while BNO is passively managed. Over the past 5 years, SXQG returned 5.59%/yr vs 24.16%/yr for BNO. At a 0.04 correlation, their price movements are largely independent. SXQG charges 1.00%/yr vs 0.90%/yr for BNO.
Performance
SXQG vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, SXQG achieves a -2.67% return, which is significantly lower than BNO's 90.47% return.
SXQG
- 1D
- -0.87%
- 1M
- 1.05%
- YTD
- -2.67%
- 6M
- -2.94%
- 1Y
- -0.51%
- 3Y*
- 11.07%
- 5Y*
- 5.59%
- 10Y*
- —
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%
SXQG vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SXQG ETC 6 Meridian Quality Growth ETF | -2.67% | 4.43% | 18.77% | 28.32% | -23.93% | 12.62% |
BNO United States Brent Oil Fund LP | 90.47% | -5.44% | 9.67% | -3.43% | 35.25% | 19.76% |
Correlation
The correlation between SXQG and BNO is -0.27, 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 | -0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since May 12, 2021 | 0.04 |
The correlation between SXQG and BNO shifts across timeframes, from -0.27 (1 year) to 0.04 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SXQG vs. BNO — Risk / Return Rank
SXQG
BNO
SXQG vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETC 6 Meridian Quality Growth ETF (SXQG) 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.
| SXQG | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.27 | ||
| Sortino ratioReturn per unit of downside risk | -2.71 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.38 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | 5.17 | -5.21 |
| Martin ratioReturn relative to average drawdown | -0.11 | 9.76 | -9.87 |
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
| SXQG | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.04 | 2.23 | -2.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.31 | 0.69 | -0.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.14 | +0.18 |
Drawdowns
SXQG vs. BNO - Drawdown Comparison
The maximum SXQG drawdown since its inception was -33.97%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for SXQG and BNO.
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Drawdown Indicators
| SXQG | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.97% | -87.06% | +53.09% |
Max Drawdown (1Y)Largest decline over 1 year | -14.03% | -17.87% | +3.84% |
Max Drawdown (3Y)Largest decline over 3 years | -19.53% | -23.75% | +4.22% |
Max Drawdown (5Y)Largest decline over 5 years | -33.97% | -33.70% | -0.27% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -5.52% | -10.29% | +4.77% |
Average DrawdownAverage peak-to-trough decline | -10.12% | -40.17% | +30.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.91% | 9.45% | -4.54% |
Volatility
SXQG vs. BNO - Volatility Comparison
The current volatility for ETC 6 Meridian Quality Growth ETF (SXQG) is 3.09%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that SXQG 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
| SXQG | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.09% | 14.22% | -11.13% |
Volatility (6M)Calculated over the trailing 6-month period | 9.03% | 36.10% | -27.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.68% | 41.46% | -29.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.99% | 35.38% | -17.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.97% | 36.68% | -18.71% |
SXQG vs. BNO - Expense Ratio Comparison
SXQG has a 1.00% expense ratio, which is higher than BNO's 0.90% expense ratio.
Dividends
SXQG vs. BNO - Dividend Comparison
SXQG's dividend yield for the trailing twelve months is around 0.07%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SXQG ETC 6 Meridian Quality Growth ETF | 0.07% | 0.15% | 0.00% | 0.02% | 0.09% | 0.00% |
Frequently Asked Questions
SXQG 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 (14.22%) compared to SXQG (3.09%). In terms of maximum drawdown, SXQG dropped -33.97% vs BNO's -87.06%.
On 5-year performance, BNO leads with 24.16% vs 5.59% for SXQG. On fees, BNO is cheaper at 0.90% per year. On volatility, SXQG has been the lower-risk option at 3.09%. 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 24.16% return vs 5.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BNO is cheaper with a 0.90% expense ratio, compared with 1.00% for SXQG.
SXQG has the higher dividend yield at 0.07%, compared with 0.00% for BNO.
SXQG is categorized as Large Cap Growth Equities, while BNO is Oil & Gas. They also come from different issuers: Meridian and Concierge Technologies. Their fees differ too: 1.00% for SXQG and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.23 vs -0.04), 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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