TEMP vs. BNO

Last updated Jun 5, 2026

TEMP (JPMorgan Climate Change Solutions ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - TEMP is a Global Equities fund actively managed by JPMorgan, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. TEMP is actively managed, while BNO is passively managed. At a 0.09 correlation, their price movements are largely independent. TEMP charges 0.49%/yr vs 0.90%/yr for BNO.

Performance

TEMP vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Climate Change Solutions ETF (TEMP) and United States Brent Oil Fund LP (BNO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TEMP

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 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%

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

TEMP vs. BNO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TEMP JPMorgan Climate Change Solutions ETF	0.00%	18.26%	8.50%	10.19%	-21.11%	1.71%
BNO United States Brent Oil Fund LP	85.31%	-5.44%	9.67%	-3.43%	35.25%	6.20%

Correlation

The correlation between TEMP 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	0.00
Correlation (All Time) Calculated using the full available price history since Dec 15, 2021	0.09

The correlation between TEMP and BNO shifts across timeframes, from -0.19 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TEMP vs. BNO — Risk / Return Rank

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

BNO

BNO Risk / Return Rank: 65
BNO Sharpe Ratio Rank: 65
BNO Sortino Ratio Rank: 57
BNO Omega Ratio Rank: 61
BNO Calmar Ratio Rank: 88
BNO Martin Ratio Rank: 55

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.

TEMP vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Climate Change Solutions ETF (TEMP) 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.

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

Sharpe Ratios by Period

	TEMP	BNO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.15	—
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	—	0.14	—

Drawdowns

Drawdown Indicators

	TEMP	BNO	Difference
Max Drawdown Largest peak-to-trough decline	—	-87.06%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-17.87%	—
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 Drawdown Current decline from peak	—	-12.72%	—
Average Drawdown Average peak-to-trough decline	—	-40.16%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	9.48%	—

Volatility

Volatility by Period

	TEMP	BNO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.12%	—
Volatility (6M) Calculated over the trailing 6-month period	—	36.21%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	41.56%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	35.40%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	36.69%	—

TEMP vs. BNO - Expense Ratio Comparison

TEMP has a 0.49% expense ratio, which is lower than BNO's 0.90% expense ratio.

Dividends

TEMP vs. BNO - Dividend Comparison

Neither TEMP nor BNO has 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%
TEMP JPMorgan Climate Change Solutions ETF	0.00%	0.00%	1.53%	1.11%	1.07%	0.06%

Frequently Asked Questions

Can I hold both TEMP and BNO in my portfolio?

TEMP 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, TEMP or BNO?

On fees, TEMP is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TEMP or BNO?

TEMP is cheaper with a 0.49% expense ratio, compared with 0.90% for BNO.

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

TEMP and BNO have nearly identical dividend yields, around 0.00%.

What is the main difference between TEMP and BNO?

TEMP is categorized as Global Equities, while BNO is Oil & Gas. They also come from different issuers: JPMorgan and Concierge Technologies. Their fees differ too: 0.49% for TEMP and 0.90% for BNO.