TSEL vs. BNO

Last updated Jun 4, 2026

TSEL (Touchstone Sands Capital US Select Growth ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - TSEL is a Large Cap Growth Equities fund actively managed by Touchstone, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. TSEL is actively managed, while BNO is passively managed. Over the past year, TSEL returned 9.55% vs 91.89% for BNO. At a correlation of -0.08, they often move in opposite directions. TSEL charges 0.67%/yr vs 0.90%/yr for BNO.

Performance

TSEL vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Touchstone Sands Capital US Select Growth ETF (TSEL) 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, TSEL achieves a 3.62% return, which is significantly lower than BNO's 90.47% return.

TSEL

• 1D: -1.53%
• 1M: 4.36%
• YTD: 3.62%
• 6M: 2.58%
• 1Y: 9.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

TSEL vs. BNO - Yearly Performance Comparison

	2026 (YTD)	2025
TSEL Touchstone Sands Capital US Select Growth ETF	3.62%	11.16%
BNO United States Brent Oil Fund LP	90.47%	-8.44%

Correlation

The correlation between TSEL and BNO is -0.22, 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	-0.22
Correlation (All Time) Calculated using the full available price history since Jan 6, 2025	-0.08

The correlation between TSEL and BNO shifts across timeframes, from -0.22 (1 year) to -0.08 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TSEL vs. BNO — Risk / Return Rank

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

TSEL

TSEL Risk / Return Rank: 16
TSEL Sharpe Ratio Rank: 17
TSEL Sortino Ratio Rank: 16
TSEL Omega Ratio Rank: 17
TSEL Calmar Ratio Rank: 14
TSEL Martin Ratio Rank: 14

BNO

BNO Risk / Return Rank: 65
BNO Sharpe Ratio Rank: 66
BNO Sortino Ratio Rank: 56
BNO Omega Ratio Rank: 60
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.

TSEL vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone Sands Capital US Select Growth ETF (TSEL) 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.

	TSEL	BNO	Difference
Sharpe ratio: Return per unit of total volatility	0.47	2.23	-1.76
Sortino ratio: Return per unit of downside risk	0.76	2.73	-1.97
Omega ratio: Gain probability vs. loss probability	1.09	1.38	-0.28
Calmar ratio: Return relative to maximum drawdown	0.41	5.17	-4.76
Martin ratio: Return relative to average drawdown	1.01	9.76	-8.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSEL vs. BNO - Sharpe Ratio Comparison

The current TSEL Sharpe Ratio is 0.47, which is lower than the BNO Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of TSEL 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.

Sharpe Ratios by Period

	TSEL	BNO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.47	2.23	-1.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.69	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.37	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.14	+0.26

Drawdowns

TSEL vs. BNO - Drawdown Comparison

The maximum TSEL drawdown since its inception was -28.95%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for TSEL and BNO.

Drawdown Indicators

	TSEL	BNO	Difference
Max Drawdown Largest peak-to-trough decline	-28.95%	-87.06%	+58.11%
Max Drawdown (1Y) Largest decline over 1 year	-23.47%	-17.87%	-5.60%
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	-5.07%	-10.29%	+5.22%
Average Drawdown Average peak-to-trough decline	-8.25%	-40.17%	+31.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.44%	9.45%	-0.01%

Volatility

TSEL vs. BNO - Volatility Comparison

The current volatility for Touchstone Sands Capital US Select Growth ETF (TSEL) is 4.90%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that TSEL 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.

Volatility by Period

	TSEL	BNO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.90%	14.22%	-9.32%
Volatility (6M) Calculated over the trailing 6-month period	15.63%	36.10%	-20.47%
Volatility (1Y) Calculated over the trailing 1-year period	20.34%	41.46%	-21.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.78%	35.38%	-8.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.78%	36.68%	-9.90%

TSEL vs. BNO - Expense Ratio Comparison

TSEL has a 0.67% expense ratio, which is lower than BNO's 0.90% expense ratio.

Dividends

TSEL vs. BNO - Dividend Comparison

Neither TSEL nor BNO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both TSEL and BNO in my portfolio?

TSEL and BNO have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSEL or BNO?

BNO has higher volatility (14.22%) compared to TSEL (4.90%). In terms of maximum drawdown, TSEL dropped -28.95% vs BNO's -87.06%.

Which ETF is better, TSEL or BNO?

On 1-year performance, BNO leads with 91.89% vs 9.55% for TSEL. On fees, TSEL is cheaper at 0.67% per year. On volatility, TSEL has been the lower-risk option at 4.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSEL or BNO?

Over the 1-year period, BNO has performed better with a 91.89% return vs 9.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSEL or BNO?

TSEL is cheaper with a 0.67% expense ratio, compared with 0.90% for BNO.

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

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

What is the main difference between TSEL and BNO?

TSEL is categorized as Large Cap Growth Equities, while BNO is Oil & Gas. They also come from different issuers: Touchstone and Concierge Technologies. Their fees differ too: 0.67% for TSEL and 0.90% for BNO.

Which has better risk-adjusted returns?

BNO currently has the higher Sharpe Ratio (2.23 vs 0.47), 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.