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VGT vs. BNO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VGT vs. BNO

Last updated Jun 6, 2026

VGT (Vanguard Information Technology ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - VGT is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 10 years, VGT returned 24.81%/yr vs 12.62%/yr for BNO. At a 0.19 correlation, their price movements are largely independent. VGT charges 0.09%/yr vs 0.90%/yr for BNO.

Performance

VGT vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Information Technology ETF (VGT) and United States Brent Oil Fund LP (BNO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VGT achieves a 22.48% return, which is significantly lower than BNO's 80.79% return. Over the past 10 years, VGT has outperformed BNO with an annualized return of 24.81%, while BNO has yielded a comparatively lower 12.62% annualized return.

VGT

1D
-6.14%
1M
5.22%
YTD
22.48%
6M
20.33%
1Y
49.26%
3Y*
30.47%
5Y*
20.48%
10Y*
24.81%

BNO

1D
-2.44%
1M
-4.35%
YTD
80.79%
6M
73.97%
1Y
82.92%
3Y*
25.89%
5Y*
22.87%
10Y*
12.62%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VGT vs. BNO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VGT
Vanguard Information Technology ETF		22.48%21.77%29.30%52.66%-29.70%30.45%46.04%48.62%2.46%37.08%
BNO
United States Brent Oil Fund LP		80.79%-5.44%9.67%-3.43%35.25%62.34%-38.23%36.01%-15.30%15.43%

Correlation

The correlation between VGT and BNO is -0.23, 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

-0.23

Correlation (3Y)
Calculated over the trailing 3-year period

-0.04

Correlation (5Y)
Calculated over the trailing 5-year period

0.05

Correlation (10Y)
Calculated over the trailing 10-year period

0.13

Correlation (All Time)
Calculated using the full available price history since Jun 3, 2010

0.19

The correlation between VGT and BNO shifts across timeframes, from -0.23 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard Information Technology ETF

United States Brent Oil Fund LP

Often compared with VGT:
VGT vs. QQQVGT vs. VOOVGT vs. QQQMVGT vs. SMHVGT vs. VUGVGT vs. FTECVGT vs. XLK
Often compared with BNO:
BNO vs. USOBNO vs. XLEBNO vs. USLBNO vs. BOILBNO vs. UNGBNO vs. UCOBNO vs. UNL

Return for Risk

VGT vs. BNO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VGT
VGT Risk / Return Rank: 6363
Overall Rank
VGT Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
VGT Sortino Ratio Rank: 6262
Sortino Ratio Rank
VGT Omega Ratio Rank: 6565
Omega Ratio Rank
VGT Calmar Ratio Rank: 6262
Calmar Ratio Rank
VGT Martin Ratio Rank: 5656
Martin Ratio Rank
BNO
BNO Risk / Return Rank: 6262
Overall Rank
BNO Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
BNO Sortino Ratio Rank: 5454
Sortino Ratio Rank
BNO Omega Ratio Rank: 5757
Omega Ratio Rank
BNO Calmar Ratio Rank: 8686
Calmar Ratio Rank
BNO Martin Ratio Rank: 5353
Martin Ratio Rank
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.

VGT vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Information Technology ETF (VGT) 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.

VGTBNODifference
Sharpe ratioReturn per unit of total volatility
2.30
2.00

+0.30

Sortino ratioReturn per unit of downside risk
2.84
2.53

+0.31

Omega ratioGain probability vs. loss probability

1.38

1.34

+0.04

Calmar ratioReturn relative to maximum drawdown

3.02

4.66

-1.65

Martin ratioReturn relative to average drawdown

9.59

8.73

+0.85

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VGT vs. BNO - Sharpe Ratio Comparison

The current VGT Sharpe Ratio is 2.30, which is comparable to the BNO Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of VGT 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.

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Sharpe Ratios by Period

VGTBNODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.30

2.00

+0.30

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.81

0.65

+0.16

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.01

0.35

+0.66

Sharpe Ratio (All Time)

Calculated using the full available price history

0.66

0.13

+0.53

Drawdowns

VGT vs. BNO - Drawdown Comparison

The maximum VGT drawdown since its inception was -54.63%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for VGT and BNO.

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Drawdown Indicators

VGTBNODifference

Max Drawdown

Largest peak-to-trough decline

-54.63%

-87.06%

+32.43%

Max Drawdown (1Y)

Largest decline over 1 year

-16.40%

-17.87%

+1.47%

Max Drawdown (3Y)

Largest decline over 3 years

-27.23%

-23.75%

-3.48%

Max Drawdown (5Y)

Largest decline over 5 years

-35.07%

-33.70%

-1.37%

Max Drawdown (10Y)

Largest decline over 10 years

-35.07%

-75.18%

+40.11%

Current Drawdown

Current decline from peak

-8.34%

-14.85%

+6.51%

Average Drawdown

Average peak-to-trough decline

-7.95%

-40.16%

+32.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.15%

9.53%

-4.38%

Volatility

VGT vs. BNO - Volatility Comparison

The current volatility for Vanguard Information Technology ETF (VGT) is 9.29%, while United States Brent Oil Fund LP (BNO) has a volatility of 11.71%. This indicates that VGT 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

VGTBNODifference

Volatility (1M)

Calculated over the trailing 1-month period

9.29%

11.71%

-2.42%

Volatility (6M)

Calculated over the trailing 6-month period

17.37%

36.33%

-18.96%

Volatility (1Y)

Calculated over the trailing 1-year period

21.51%

41.63%

-20.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.31%

35.41%

-10.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.68%

36.69%

-12.01%

VGT vs. BNO - Expense Ratio Comparison

VGT has a 0.09% expense ratio, which is lower than BNO's 0.90% expense ratio.

Dividends

VGT vs. BNO - Dividend Comparison

VGT's dividend yield for the trailing twelve months is around 0.33%, while BNO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
BNO
United States Brent Oil Fund LP		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
VGT
Vanguard Information Technology ETF		0.33%0.40%0.60%0.65%0.91%0.64%0.82%1.11%1.29%0.99%1.31%1.28%

Frequently Asked Questions

VGT and BNO have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BNO has higher volatility (11.71%) compared to VGT (9.29%). In terms of maximum drawdown, VGT dropped -54.63% vs BNO's -87.06%.

On 10-year performance, VGT leads with 24.81% vs 12.62% for BNO. On fees, VGT is cheaper at 0.09% per year. On volatility, VGT has been the lower-risk option at 9.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VGT has performed better with a 24.81% return vs 12.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VGT is cheaper with a 0.09% expense ratio, compared with 0.90% for BNO.

VGT has the higher dividend yield at 0.33%, compared with 0.00% for BNO.

VGT is categorized as Technology Equities, while BNO is Oil & Gas. VGT tracks MSCI USA IMI Information Technology 25/50 Index, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: Vanguard and Concierge Technologies. Their fees differ too: 0.09% for VGT and 0.90% for BNO.

VGT currently has the higher Sharpe Ratio (2.30 vs 2.00), 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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