TSLP vs. BNO
TSLP (Kurv Yield Premium Strategy Tesla ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - TSLP is a Derivative Income fund actively managed by Kurv, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. TSLP is actively managed, while BNO is passively managed. Over the past year, TSLP returned 15.63% vs 91.89% for BNO. At a 0.00 correlation, their price movements are largely independent. TSLP charges 0.99%/yr vs 0.90%/yr for BNO.
Performance
TSLP vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, TSLP achieves a -8.72% return, which is significantly lower than BNO's 90.47% return.
TSLP
- 1D
- 0.04%
- 1M
- 7.73%
- YTD
- -8.72%
- 6M
- -8.30%
- 1Y
- 15.63%
- 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%
TSLP vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
TSLP Kurv Yield Premium Strategy Tesla ETF | -8.72% | 9.77% | 41.53% | 18.42% |
BNO United States Brent Oil Fund LP | 90.47% | -5.44% | 9.67% | -13.14% |
Correlation
The correlation between TSLP 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 (All Time) Calculated using the full available price history since Oct 30, 2023 | 0.00 |
The correlation between TSLP and BNO shifts across timeframes, from -0.15 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TSLP vs. BNO — Risk / Return Rank
TSLP
BNO
TSLP vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Kurv Yield Premium Strategy Tesla ETF (TSLP) 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.
| TSLP | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.96 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.38 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.49 | 5.17 | -4.68 |
| Martin ratioReturn relative to average drawdown | 1.20 | 9.76 | -8.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TSLP | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.37 | 2.23 | -1.86 |
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 | 0.46 | 0.14 | +0.32 |
Drawdowns
TSLP vs. BNO - Drawdown Comparison
The maximum TSLP drawdown since its inception was -46.00%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for TSLP and BNO.
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Drawdown Indicators
| TSLP | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.00% | -87.06% | +41.06% |
Max Drawdown (1Y)Largest decline over 1 year | -32.00% | -17.87% | -14.13% |
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 DrawdownCurrent decline from peak | -15.68% | -10.29% | -5.39% |
Average DrawdownAverage peak-to-trough decline | -15.73% | -40.17% | +24.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.16% | 9.45% | +3.71% |
Volatility
TSLP vs. BNO - Volatility Comparison
The current volatility for Kurv Yield Premium Strategy Tesla ETF (TSLP) is 12.75%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that TSLP 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.
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Volatility by Period
| TSLP | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.75% | 14.22% | -1.47% |
Volatility (6M)Calculated over the trailing 6-month period | 28.48% | 36.10% | -7.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.87% | 41.46% | +1.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.60% | 35.38% | +13.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.60% | 36.68% | +11.92% |
TSLP vs. BNO - Expense Ratio Comparison
TSLP has a 0.99% expense ratio, which is higher than BNO's 0.90% expense ratio.
Dividends
TSLP vs. BNO - Dividend Comparison
TSLP's dividend yield for the trailing twelve months is around 30.32%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
TSLP Kurv Yield Premium Strategy Tesla ETF | 30.32% | 31.05% | 21.82% | 4.39% |
Frequently Asked Questions
TSLP 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.
BNO has higher volatility (14.22%) compared to TSLP (12.75%). In terms of maximum drawdown, TSLP dropped -46.00% vs BNO's -87.06%.
On 1-year performance, BNO leads with 91.89% vs 15.63% for TSLP. On fees, BNO is cheaper at 0.90% per year. On volatility, TSLP has been the lower-risk option at 12.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BNO has performed better with a 91.89% return vs 15.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BNO is cheaper with a 0.90% expense ratio, compared with 0.99% for TSLP.
TSLP has the higher dividend yield at 30.32%, compared with 0.00% for BNO.
TSLP is categorized as Derivative Income, while BNO is Oil & Gas. They also come from different issuers: Kurv and Concierge Technologies. Their fees differ too: 0.99% for TSLP and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.23 vs 0.37), 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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