SZNE vs. BNO

Last updated Aug 2, 2026

SZNE (Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - SZNE is a Large Cap Blend Equities fund tracking the Pacer CFRA-Stovall Equal Weight Seasonal Rotation Index, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. Both are passively managed. Their 0.13 correlation means their historical movements had little consistent relationship. SZNE charges 0.60%/yr vs 1.00%/yr for BNO.

Performance

SZNE vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF (SZNE) and United States Brent Oil Fund LP (BNO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SZNE

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BNO United States Brent Oil Fund LP	$107.13M	$97.34M	$147.52M

SZNE vs. BNO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF	9.68%	-3.44%	2.05%	6.53%	-12.33%	26.36%	4.03%	35.75%	-7.01%
BNO United States Brent Oil Fund LP	77.90%	-5.44%	9.67%	-3.43%	35.25%	62.34%	-38.23%	36.01%	-25.44%

Correlation

The correlation between SZNE and BNO is -0.19, 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.	-0.19
Correlation (3Y) Balances recent behavior with more history.	-0.08
Correlation (5Y) Shows whether the relationship held over a longer period.	0.03
Correlation (All Time) Calculated using the full available price history since Jul 24, 2018	0.13

The correlation between SZNE and BNO shifts across timeframes, from -0.19 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SZNE vs. BNO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SZNE

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

BNO

BNO Risk / Return Rank: 52
BNO Sharpe Ratio Rank: 55
BNO Sortino Ratio Rank: 55
BNO Omega Ratio Rank: 55
BNO Calmar Ratio Rank: 47
BNO Martin Ratio Rank: 45

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SZNE vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF (SZNE) 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.

	SZNE	BNO	Difference
Sharpe ratio: Return per unit of total volatility	—	1.32	—
Sortino ratio: Return per unit of downside risk	—	1.90	—
Omega ratio: Gain probability vs. loss probability	—	1.24	—
Calmar ratio: Return relative to maximum drawdown	—	1.70	—
Martin ratio: Return relative to average drawdown	—	5.15	—

Drawdowns

Drawdown Indicators

	SZNE	BNO	Difference
Max Drawdown Largest peak-to-trough decline	—	-87.06%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-34.46%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-34.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.46%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.18%	—
Current Drawdown Current decline from peak	—	-16.21%	—
Average Drawdown Average peak-to-trough decline	—	-39.99%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.86%	—

Volatility

Volatility by Period

	SZNE	BNO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	17.47%	—
Volatility (6M) Calculated over the trailing 6-month period	—	40.96%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	44.54%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	36.41%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	36.98%	—

SZNE vs. BNO - Expense Ratio Comparison

SZNE has a 0.60% expense ratio, which is lower than BNO's 1.00% expense ratio.

Dividends

SZNE vs. BNO - Dividend Comparison

SZNE's dividend yield for the trailing twelve months is around 1.23%, while BNO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF	1.23%	1.47%	1.20%	1.21%	1.11%	0.79%	1.37%	0.90%	0.68%

Frequently Asked Questions

Can I hold both SZNE and BNO in my portfolio?

SZNE and BNO have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SZNE or BNO?

On fees, SZNE is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SZNE or BNO?

SZNE is cheaper with a 0.60% expense ratio, compared with 1.00% for BNO.

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

SZNE has the higher dividend yield at 1.23%, compared with 0.00% for BNO.

What is the main difference between SZNE and BNO?

SZNE is categorized as Large Cap Blend Equities, while BNO is Oil & Gas. SZNE tracks Pacer CFRA-Stovall Equal Weight Seasonal Rotation Index, while BNO tracks Crude Oil Brent ICE Near Term Futures. They also come from different issuers: Pacer and USCF. Their fees differ too: 0.60% for SZNE and 1.00% for BNO.