TESL vs. BNO
TESL (Simplify Volt TSLA Revolution ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - TESL is a Large Cap Growth Equities fund tracking the Actively Managed, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. Both are passively managed. Over the past 5 years, TESL returned 8.82%/yr vs 17.15%/yr for BNO. At a 0.02 correlation, their price movements are largely independent. TESL charges 0.97%/yr vs 1.00%/yr for BNO.
Performance
TESL vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, TESL achieves a -12.28% return, which is significantly lower than BNO's 50.21% return.
TESL
- 1D
- -6.80%
- 1M
- -14.12%
- YTD
- -12.28%
- 6M
- -17.99%
- 1Y
- -31.81%
- 3Y*
- 26.19%
- 5Y*
- 8.82%
- 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%
TESL vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TESL Simplify Volt TSLA Revolution ETF | -12.28% | -14.73% | 152.27% | 58.33% | -61.11% | 18.52% | 2.57% |
BNO United States Brent Oil Fund LP | 50.21% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | 1.50% |
Correlation
The correlation between TESL and BNO is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Dec 29, 2020 | 0.02 |
The correlation between TESL and BNO shifts across timeframes, from -0.14 (1 year) to 0.02 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TESL vs. BNO — Risk / Return Rank
TESL
BNO
TESL vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Volt TSLA Revolution ETF (TESL) 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.
| TESL | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.52 | ||
| Sortino ratioReturn per unit of downside risk | -2.05 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.19 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.57 | 1.33 | -1.90 |
| Martin ratioReturn relative to average drawdown | -0.98 | 4.21 | -5.19 |
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Drawdowns
TESL vs. BNO - Drawdown Comparison
The maximum TESL drawdown since its inception was -69.11%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for TESL and BNO.
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Drawdown Indicators
| TESL | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.11% | -87.06% | +17.95% |
Max Drawdown (1Y)Largest decline over 1 year | -56.12% | -29.25% | -26.87% |
Max Drawdown (3Y)Largest decline over 3 years | -56.12% | -29.25% | -26.87% |
Max Drawdown (5Y)Largest decline over 5 years | -69.11% | -33.70% | -35.41% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -45.57% | -29.25% | -16.32% |
Average DrawdownAverage peak-to-trough decline | -37.71% | -40.10% | +2.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.64% | 9.28% | +23.36% |
Volatility
TESL vs. BNO - Volatility Comparison
Simplify Volt TSLA Revolution ETF (TESL) has a higher volatility of 15.88% compared to United States Brent Oil Fund LP (BNO) at 10.92%. This indicates that TESL'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.
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Volatility by Period
| TESL | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.88% | 10.92% | +4.96% |
Volatility (6M)Calculated over the trailing 6-month period | 41.68% | 37.29% | +4.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.85% | 41.67% | +16.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.05% | 35.65% | +15.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.14% | 36.68% | +13.46% |
TESL vs. BNO - Expense Ratio Comparison
TESL has a 0.97% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
TESL vs. BNO - Dividend Comparison
TESL's dividend yield for the trailing twelve months is around 26.22%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TESL Simplify Volt TSLA Revolution ETF | 26.22% | 23.87% | 0.62% | 0.00% | 0.83% |
Frequently Asked Questions
TESL and BNO have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TESL has higher volatility (15.88%) compared to BNO (10.92%). In terms of maximum drawdown, TESL dropped -69.11% vs BNO's -87.06%.
On 5-year performance, BNO leads with 17.15% vs 8.82% for TESL. On fees, TESL is cheaper at 0.97% 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.
Over the 5-year period, BNO has performed better with a 17.15% return vs 8.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TESL is cheaper with a 0.97% expense ratio, compared with 1.00% for BNO.
TESL has the higher dividend yield at 26.22%, compared with 0.00% for BNO.
TESL is categorized as Large Cap Growth Equities, while BNO is Oil & Gas. TESL tracks Actively Managed, while BNO tracks Crude Oil Brent ICE Near Term Futures. They also come from different issuers: Simplify and USCF Investments. Their fees differ too: 0.97% for TESL and 1.00% for BNO.
BNO currently has the higher Sharpe Ratio (0.95 vs -0.57), 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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