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TDIV vs. BNO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TDIV vs. BNO

Last updated Jun 4, 2026

TDIV (First Trust NASDAQ Technology Dividend Index Fund) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - TDIV is a Technology Equities fund tracking the NASDAQ Technology Dividend Index, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 10 years, TDIV returned 19.34%/yr vs 13.60%/yr for BNO. At a 0.20 correlation, their price movements are largely independent. TDIV charges 0.50%/yr vs 0.90%/yr for BNO.

Performance

TDIV vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust NASDAQ Technology Dividend Index Fund (TDIV) and United States Brent Oil Fund LP (BNO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TDIV achieves a 30.57% return, which is significantly lower than BNO's 90.47% return. Over the past 10 years, TDIV has outperformed BNO with an annualized return of 19.34%, while BNO has yielded a comparatively lower 13.60% annualized return.

TDIV

1D
-1.79%
1M
15.82%
YTD
30.57%
6M
28.79%
1Y
53.63%
3Y*
33.27%
5Y*
19.29%
10Y*
19.34%

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

TDIV vs. BNO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TDIV
First Trust NASDAQ Technology Dividend Index Fund		30.57%25.27%24.43%36.71%-22.13%29.49%17.55%33.27%-3.18%21.95%
BNO
United States Brent Oil Fund LP		90.47%-5.44%9.67%-3.43%35.25%62.34%-38.23%36.01%-15.30%15.43%

Correlation

The correlation between TDIV and BNO is -0.19, 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

-0.19

Correlation (3Y)
Calculated over the trailing 3-year period

-0.03

Correlation (5Y)
Calculated over the trailing 5-year period

0.08

Correlation (10Y)
Calculated over the trailing 10-year period

0.16

Correlation (All Time)
Calculated using the full available price history since Aug 15, 2012

0.20

The correlation between TDIV and BNO shifts across timeframes, from -0.19 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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First Trust NASDAQ Technology Dividend Index Fund

United States Brent Oil Fund LP

Often compared with TDIV:
TDIV vs. TDVTDIV vs. SCHDTDIV vs. DDIVTDIV vs. ETGTDIV vs. QQQTDIV vs. SPYDTDIV vs. TDVI
Often compared with BNO:
BNO vs. USOBNO vs. XLEBNO vs. USLBNO vs. BOILBNO vs. UNGBNO vs. UCOBNO vs. XOM

Return for Risk

TDIV vs. BNO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TDIV
TDIV Risk / Return Rank: 8383
Overall Rank
TDIV Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
TDIV Sortino Ratio Rank: 8484
Sortino Ratio Rank
TDIV Omega Ratio Rank: 8080
Omega Ratio Rank
TDIV Calmar Ratio Rank: 8787
Calmar Ratio Rank
TDIV Martin Ratio Rank: 7979
Martin Ratio Rank
BNO
BNO Risk / Return Rank: 6565
Overall Rank
BNO Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
BNO Sortino Ratio Rank: 5656
Sortino Ratio Rank
BNO Omega Ratio Rank: 6060
Omega Ratio Rank
BNO Calmar Ratio Rank: 8888
Calmar Ratio Rank
BNO Martin Ratio Rank: 5555
Martin Ratio Rank
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.

TDIV vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust NASDAQ Technology Dividend Index Fund (TDIV) 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.

TDIVBNODifference
Sharpe ratioReturn per unit of total volatility
2.93
2.23

+0.70

Sortino ratioReturn per unit of downside risk
3.85
2.73

+1.12

Omega ratioGain probability vs. loss probability

1.49

1.38

+0.11

Calmar ratioReturn relative to maximum drawdown

5.02

5.17

-0.15

Martin ratioReturn relative to average drawdown

15.64

9.76

+5.88

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TDIV vs. BNO - Sharpe Ratio Comparison

The current TDIV Sharpe Ratio is 2.93, which is higher than the BNO Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of TDIV and BNO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

TDIVBNODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.93

2.23

+0.70

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.94

0.69

+0.25

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.93

0.37

+0.56

Sharpe Ratio (All Time)

Calculated using the full available price history

0.88

0.14

+0.74

Drawdowns

TDIV vs. BNO - Drawdown Comparison

The maximum TDIV drawdown since its inception was -31.97%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for TDIV and BNO.

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Drawdown Indicators

TDIVBNODifference

Max Drawdown

Largest peak-to-trough decline

-31.97%

-87.06%

+55.09%

Max Drawdown (1Y)

Largest decline over 1 year

-10.74%

-17.87%

+7.13%

Max Drawdown (3Y)

Largest decline over 3 years

-23.00%

-23.75%

+0.75%

Max Drawdown (5Y)

Largest decline over 5 years

-31.97%

-33.70%

+1.73%

Max Drawdown (10Y)

Largest decline over 10 years

-31.97%

-75.18%

+43.21%

Current Drawdown

Current decline from peak

-1.79%

-10.29%

+8.50%

Average Drawdown

Average peak-to-trough decline

-4.84%

-40.17%

+35.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.44%

9.45%

-6.01%

Volatility

TDIV vs. BNO - Volatility Comparison

The current volatility for First Trust NASDAQ Technology Dividend Index Fund (TDIV) is 6.86%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that TDIV 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

TDIVBNODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.86%

14.22%

-7.36%

Volatility (6M)

Calculated over the trailing 6-month period

13.91%

36.10%

-22.19%

Volatility (1Y)

Calculated over the trailing 1-year period

18.47%

41.46%

-22.99%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.67%

35.38%

-14.71%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.85%

36.68%

-15.83%

TDIV vs. BNO - Expense Ratio Comparison

TDIV has a 0.50% expense ratio, which is lower than BNO's 0.90% expense ratio.

Dividends

TDIV vs. BNO - Dividend Comparison

TDIV's dividend yield for the trailing twelve months is around 1.12%, while BNO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%0.00%0.00%
TDIV
First Trust NASDAQ Technology Dividend Index Fund		1.12%1.40%1.59%1.74%2.51%1.76%2.07%2.27%2.97%2.27%2.45%2.52%

Frequently Asked Questions

TDIV 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.

BNO has higher volatility (14.22%) compared to TDIV (6.86%). In terms of maximum drawdown, TDIV dropped -31.97% vs BNO's -87.06%.

On 10-year performance, TDIV leads with 19.34% vs 13.60% for BNO. On fees, TDIV is cheaper at 0.50% per year. On volatility, TDIV has been the lower-risk option at 6.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, TDIV has performed better with a 19.34% return vs 13.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

TDIV is cheaper with a 0.50% expense ratio, compared with 0.90% for BNO.

TDIV has the higher dividend yield at 1.12%, compared with 0.00% for BNO.

TDIV is categorized as Technology Equities, while BNO is Oil & Gas. TDIV tracks NASDAQ Technology Dividend Index, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: First Trust and Concierge Technologies. Their fees differ too: 0.50% for TDIV and 0.90% for BNO.

TDIV currently has the higher Sharpe Ratio (2.93 vs 2.23), 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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