UDI vs. BNO
UDI (USCF ESG Dividend Income Fund) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - UDI is a Large Cap Value Equities fund actively managed by USCF, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. UDI is actively managed, while BNO is passively managed. Over the past 3 years, UDI returned 17.02%/yr vs 20.31%/yr for BNO. Their 0.06 correlation means their historical movements had little consistent relationship. UDI charges 0.65%/yr vs 1.00%/yr for BNO.
Performance
UDI vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, UDI achieves a 16.78% return, which is significantly lower than BNO's 77.90% return.
UDI
- 1D
- 0.09%
- 1M
- 2.84%
- 6M
- 12.51%
- YTD
- 16.78%
- 1Y
- 27.73%
- 3Y*
- 17.02%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 13.87%
BNO
- 1D
- 1.45%
- 1M
- 27.00%
- 6M
- 52.90%
- YTD
- 77.90%
- 1Y
- 62.83%
- 3Y*
- 20.31%
- 5Y*
- 20.89%
- 10Y*
- 15.06%
- ALL TIME*
- 4.31%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $107.13M | $97.34M | $147.52M | |
| $39.69K | $57.87K | $43.48K |
UDI vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
UDI USCF ESG Dividend Income Fund | 16.78% | 14.23% | 17.07% | 6.35% | 3.14% |
BNO United States Brent Oil Fund LP | 77.90% | -5.44% | 9.67% | -3.43% | -20.09% |
Correlation
The correlation between UDI and BNO is -0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.10 |
Correlation (3Y) Balances recent behavior with more history. | -0.04 |
Correlation (All Time) Calculated using the full available price history since Jun 8, 2022 | 0.06 |
The correlation between UDI and BNO shifts across timeframes, from -0.10 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UDI vs. BNO — Risk / Return Rank
UDI
BNO
UDI vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USCF ESG Dividend Income Fund (UDI) 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.
| UDI | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.32 | ||
| Sortino ratioReturn per unit of downside risk | +1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.24 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 4.71 | 1.70 | +3.01 |
| Martin ratioReturn relative to average drawdown | 18.68 | 5.15 | +13.53 |
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Drawdowns
UDI vs. BNO - Drawdown Comparison
The maximum UDI drawdown since its inception was -14.17%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for UDI and BNO.
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Drawdown Indicators
| UDI | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.17% | -87.06% | +72.89% |
Max Drawdown (1Y)Largest decline over 1 year | -5.66% | -34.46% | +28.80% |
Max Drawdown (3Y)Largest decline over 3 years | -14.17% | -34.46% | +20.29% |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -1.08% | -16.21% | +15.13% |
Average DrawdownAverage peak-to-trough decline | -3.00% | -39.99% | +36.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.42% | 11.86% | -10.44% |
Volatility
UDI vs. BNO - Volatility Comparison
The current volatility for USCF ESG Dividend Income Fund (UDI) is 3.13%, while United States Brent Oil Fund LP (BNO) has a volatility of 17.47%. This indicates that UDI 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
| UDI | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 17.47% | -14.34% |
Volatility (6M)Calculated over the trailing 6-month period | 7.37% | 40.96% | -33.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.16% | 44.54% | -34.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.93% | 36.41% | -22.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.93% | 36.98% | -23.05% |
UDI vs. BNO - Expense Ratio Comparison
UDI has a 0.65% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
UDI vs. BNO - Dividend Comparison
UDI's dividend yield for the trailing twelve months is around 2.56%, 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% |
UDI USCF ESG Dividend Income Fund | 2.56% | 2.42% | 5.33% | 2.61% | 1.79% |
Frequently Asked Questions
UDI and BNO have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (17.47%) compared to UDI (3.13%). In terms of maximum drawdown, UDI dropped -14.17% vs BNO's -87.06%.
On 3-year performance, BNO leads with 20.31% vs 17.02% for UDI. On fees, UDI is cheaper at 0.65% per year. On volatility, UDI has been the lower-risk option at 3.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BNO has performed better with a 20.31% return vs 17.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UDI is cheaper with a 0.65% expense ratio, compared with 1.00% for BNO.
UDI has the higher dividend yield at 2.56%, compared with 0.00% for BNO.
UDI is categorized as Large Cap Value Equities, while BNO is Oil & Gas. Their fees differ too: 0.65% for UDI and 1.00% for BNO.
UDI currently has the higher Sharpe Ratio (2.64 vs 1.32), 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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