TEKY vs. BNO

Last updated Jun 24, 2026

TEKY (Lazard Next Gen Technologies ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - TEKY is a Technology Equities fund actively managed by Lazard, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. TEKY is actively managed, while BNO is passively managed. Over the past year, TEKY returned 37.15% vs 38.79% for BNO. At a correlation of -0.15, they often move in opposite directions. TEKY charges 0.50%/yr vs 1.00%/yr for BNO.

Performance

TEKY vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lazard Next Gen Technologies ETF (TEKY) and United States Brent Oil Fund LP (BNO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TEKY achieves a 20.06% return, which is significantly lower than BNO's 50.21% return.

TEKY

• 1D: -4.74%
• 1M: 1.10%
• YTD: 20.06%
• 6M: 18.90%
• 1Y: 37.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNO

• 1D: -1.35%
• 1M: -22.65%
• YTD: 50.21%
• 6M: 47.81%
• 1Y: 38.79%
• 3Y*: 19.32%
• 5Y*: 17.15%
• 10Y*: 11.25%

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

TEKY vs. BNO - Yearly Performance Comparison

	2026 (YTD)	2025
TEKY Lazard Next Gen Technologies ETF	20.06%	50.31%
BNO United States Brent Oil Fund LP	50.21%	2.61%

Correlation

The correlation between TEKY and BNO is -0.20, 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	-0.20
Correlation (All Time) Calculated using the full available price history since Apr 7, 2025	-0.15

Return for Risk

TEKY vs. BNO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TEKY

TEKY Risk / Return Rank: 40
TEKY Sharpe Ratio Rank: 46
TEKY Sortino Ratio Rank: 42
TEKY Omega Ratio Rank: 43
TEKY Calmar Ratio Rank: 37
TEKY Martin Ratio Rank: 34

BNO

BNO Risk / Return Rank: 29
BNO Sharpe Ratio Rank: 27
BNO Sortino Ratio Rank: 28
BNO Omega Ratio Rank: 29
BNO Calmar Ratio Rank: 28
BNO Martin Ratio Rank: 31

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.

TEKY vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lazard Next Gen Technologies ETF (TEKY) 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.

	TEKY	BNO	Difference
Sharpe ratio: Return per unit of total volatility	1.47	0.95	+0.52
Sortino ratio: Return per unit of downside risk	1.98	1.49	+0.49
Omega ratio: Gain probability vs. loss probability	1.26	1.19	+0.07
Calmar ratio: Return relative to maximum drawdown	1.74	1.33	+0.41
Martin ratio: Return relative to average drawdown	4.76	4.21	+0.55

TEKY vs. BNO - Sharpe Ratio Comparison

The current TEKY Sharpe Ratio is 1.47, which is higher than the BNO Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of TEKY 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.

Drawdowns

TEKY vs. BNO - Drawdown Comparison

The maximum TEKY drawdown since its inception was -21.43%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for TEKY and BNO.

Drawdown Indicators

	TEKY	BNO	Difference
Max Drawdown Largest peak-to-trough decline	-21.43%	-87.06%	+65.63%
Max Drawdown (1Y) Largest decline over 1 year	-21.43%	-29.25%	+7.82%
Max Drawdown (3Y) Largest decline over 3 years	—	-29.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.70%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.18%	—
Current Drawdown Current decline from peak	-5.63%	-29.25%	+23.62%
Average Drawdown Average peak-to-trough decline	-4.81%	-40.10%	+35.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.83%	9.28%	-1.45%

Volatility

TEKY vs. BNO - Volatility Comparison

Lazard Next Gen Technologies ETF (TEKY) has a higher volatility of 12.26% compared to United States Brent Oil Fund LP (BNO) at 10.92%. This indicates that TEKY's price experiences larger fluctuations and is considered to be riskier than BNO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TEKY	BNO	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.26%	10.92%	+1.34%
Volatility (6M) Calculated over the trailing 6-month period	21.10%	37.29%	-16.19%
Volatility (1Y) Calculated over the trailing 1-year period	25.37%	41.67%	-16.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.80%	35.65%	-8.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.80%	36.68%	-9.88%

TEKY vs. BNO - Expense Ratio Comparison

TEKY has a 0.50% expense ratio, which is lower than BNO's 1.00% expense ratio.

Dividends

TEKY vs. BNO - Dividend Comparison

TEKY's dividend yield for the trailing twelve months is around 0.17%, while BNO has not paid dividends to shareholders.

Position	TTM	2025
BNO United States Brent Oil Fund LP	0.00%	0.00%
TEKY Lazard Next Gen Technologies ETF	0.17%	0.05%

Frequently Asked Questions

Can I hold both TEKY and BNO in my portfolio?

TEKY and BNO have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TEKY or BNO?

TEKY has higher volatility (12.26%) compared to BNO (10.92%). In terms of maximum drawdown, TEKY dropped -21.43% vs BNO's -87.06%.

Which ETF is better, TEKY or BNO?

On 1-year performance, BNO leads with 38.79% vs 37.15% for TEKY. On fees, TEKY is cheaper at 0.50% per year. On volatility, BNO has been the lower-risk option at 10.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TEKY or BNO?

Over the 1-year period, BNO has performed better with a 38.79% return vs 37.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TEKY or BNO?

TEKY is cheaper with a 0.50% expense ratio, compared with 1.00% for BNO.

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

TEKY has the higher dividend yield at 0.17%, compared with 0.00% for BNO.

What is the main difference between TEKY and BNO?

TEKY is categorized as Technology Equities, while BNO is Oil & Gas. They also come from different issuers: Lazard and USCF Investments. Their fees differ too: 0.50% for TEKY and 1.00% for BNO.

Which has better risk-adjusted returns?

TEKY currently has the higher Sharpe Ratio (1.47 vs 0.95), 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.