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 9.95%/yr vs 19.90%/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 -12.21% return, which is significantly lower than BNO's 65.18% return.
TESL
- 1D
- -2.76%
- 1M
- -7.29%
- 6M
- -9.18%
- YTD
- -12.21%
- 1Y
- -25.27%
- 3Y*
- 22.90%
- 5Y*
- 9.95%
- 10Y*
- —
BNO
- 1D
- -1.70%
- 1M
- 6.58%
- 6M
- 58.17%
- YTD
- 65.18%
- 1Y
- 55.11%
- 3Y*
- 20.77%
- 5Y*
- 19.90%
- 10Y*
- 12.78%
TESL vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TESL Simplify Volt TSLA Revolution ETF | -12.21% | -14.73% | 152.27% | 58.33% | -61.11% | 18.52% | 2.57% |
BNO United States Brent Oil Fund LP | 65.18% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | 1.50% |
Correlation
The correlation between TESL and BNO is -0.15, 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 | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
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 -0.15 (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 | -1.74 | ||
| Sortino ratioReturn per unit of downside risk | -2.21 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.24 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.45 | 1.61 | -2.06 |
| Martin ratioReturn relative to average drawdown | -0.74 | 4.66 | -5.40 |
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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% | -34.46% | -21.66% |
Max Drawdown (3Y)Largest decline over 3 years | -56.12% | -34.46% | -21.66% |
Max Drawdown (5Y)Largest decline over 5 years | -69.11% | -34.46% | -34.65% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -45.53% | -22.20% | -23.33% |
Average DrawdownAverage peak-to-trough decline | -37.78% | -40.06% | +2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.27% | 11.87% | +22.40% |
Volatility
TESL vs. BNO - Volatility Comparison
Simplify Volt TSLA Revolution ETF (TESL) has a higher volatility of 18.06% compared to United States Brent Oil Fund LP (BNO) at 15.19%. 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 | 18.06% | 15.19% | +2.87% |
Volatility (6M)Calculated over the trailing 6-month period | 38.86% | 39.16% | -0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.05% | 42.74% | +14.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.48% | 36.11% | +15.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.31% | 36.77% | +13.54% |
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 25.21%, 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 | 25.21% | 23.87% | 0.62% | 0.00% | 0.83% |
Frequently Asked Questions
TESL and BNO have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TESL has higher volatility (18.06%) compared to BNO (15.19%). In terms of maximum drawdown, TESL dropped -69.11% vs BNO's -87.06%.
On 5-year performance, BNO leads with 19.90% vs 9.95% for TESL. On fees, TESL is cheaper at 0.97% per year. On volatility, BNO has been the lower-risk option at 15.19%. 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 19.90% return vs 9.95%. 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 25.21%, 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 (1.30 vs -0.45), 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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