TBFG vs. BNO
TBFG (The Brinsmere Fund - Growth ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - TBFG is a Tactical Allocation fund actively managed by The Brinsmere Funds, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. TBFG is actively managed, while BNO is passively managed. Over the past year, TBFG returned 24.15% vs 88.71% for BNO. At a correlation of -0.06, they often move in opposite directions. TBFG charges 0.42%/yr vs 0.90%/yr for BNO.
Performance
TBFG vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, TBFG achieves a 10.44% return, which is significantly lower than BNO's 85.31% return.
TBFG
- 1D
- 0.08%
- 1M
- 3.51%
- YTD
- 10.44%
- 6M
- 11.28%
- 1Y
- 24.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BNO
- 1D
- -2.71%
- 1M
- -9.80%
- YTD
- 85.31%
- 6M
- 79.66%
- 1Y
- 88.71%
- 3Y*
- 26.74%
- 5Y*
- 23.48%
- 10Y*
- 13.13%
TBFG vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TBFG The Brinsmere Fund - Growth ETF | 10.44% | 14.56% | 10.48% |
BNO United States Brent Oil Fund LP | 85.31% | -5.44% | 8.12% |
Correlation
The correlation between TBFG and BNO is -0.31, 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 | -0.31 |
Correlation (All Time) Calculated using the full available price history since Jan 17, 2024 | -0.06 |
Over the past year, the inverse relationship between TBFG and BNO has strengthened: their correlation has moved from -0.06 to -0.31, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
TBFG vs. BNO — Risk / Return Rank
TBFG
BNO
TBFG vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Brinsmere Fund - Growth ETF (TBFG) 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.
| TBFG | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.36 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.18 | 4.99 | -1.81 |
| Martin ratioReturn relative to average drawdown | 13.74 | 9.39 | +4.35 |
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
| TBFG | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.49 | 2.15 | +0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.67 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.39 | 0.14 | +1.25 |
Drawdowns
TBFG vs. BNO - Drawdown Comparison
The maximum TBFG drawdown since its inception was -13.43%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for TBFG and BNO.
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Drawdown Indicators
| TBFG | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.43% | -87.06% | +73.63% |
Max Drawdown (1Y)Largest decline over 1 year | -7.63% | -17.87% | +10.24% |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.75% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -0.28% | -12.72% | +12.44% |
Average DrawdownAverage peak-to-trough decline | -1.62% | -40.16% | +38.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.76% | 9.48% | -7.72% |
Volatility
TBFG vs. BNO - Volatility Comparison
The current volatility for The Brinsmere Fund - Growth ETF (TBFG) is 2.91%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.12%. This indicates that TBFG 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
| TBFG | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.91% | 14.12% | -11.21% |
Volatility (6M)Calculated over the trailing 6-month period | 8.00% | 36.21% | -28.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.73% | 41.56% | -31.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.94% | 35.40% | -24.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.94% | 36.69% | -25.75% |
TBFG vs. BNO - Expense Ratio Comparison
TBFG has a 0.42% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
TBFG vs. BNO - Dividend Comparison
TBFG's dividend yield for the trailing twelve months is around 2.35%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% |
TBFG The Brinsmere Fund - Growth ETF | 2.35% | 2.65% | 2.43% |
Frequently Asked Questions
TBFG and BNO have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (14.12%) compared to TBFG (2.91%). In terms of maximum drawdown, TBFG dropped -13.43% vs BNO's -87.06%.
On 1-year performance, BNO leads with 88.71% vs 24.15% for TBFG. On fees, TBFG is cheaper at 0.42% per year. On volatility, TBFG has been the lower-risk option at 2.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BNO has performed better with a 88.71% return vs 24.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TBFG is cheaper with a 0.42% expense ratio, compared with 0.90% for BNO.
TBFG has the higher dividend yield at 2.35%, compared with 0.00% for BNO.
TBFG is categorized as Tactical Allocation, while BNO is Oil & Gas. They also come from different issuers: The Brinsmere Funds and Concierge Technologies. Their fees differ too: 0.42% for TBFG and 0.90% for BNO.
TBFG currently has the higher Sharpe Ratio (2.49 vs 2.15), 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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