VYMI vs. BNO

Last updated Jun 4, 2026

VYMI (Vanguard International High Dividend Yield ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - VYMI is a Dividend fund tracking the FTSE All-World ex US High Dividend Yield Index, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 10 years, VYMI returned 10.49%/yr vs 13.60%/yr for BNO. At a 0.27 correlation, their price movements are largely independent. VYMI charges 0.07%/yr vs 0.90%/yr for BNO.

Performance

VYMI vs. BNO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard International High Dividend Yield ETF (VYMI) 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, VYMI achieves a 11.31% return, which is significantly lower than BNO's 90.47% return. Over the past 10 years, VYMI has underperformed BNO with an annualized return of 10.49%, while BNO has yielded a comparatively higher 13.60% annualized return.

VYMI

• 1D: -1.01%
• 1M: 2.05%
• YTD: 11.31%
• 6M: 14.77%
• 1Y: 30.23%
• 3Y*: 21.88%
• 5Y*: 11.95%
• 10Y*: 10.49%

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)

VYMI vs. BNO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VYMI Vanguard International High Dividend Yield ETF	11.31%	38.05%	7.06%	17.07%	-7.02%	15.39%	-1.11%	18.43%	-12.65%	22.36%
BNO United States Brent Oil Fund LP	90.47%	-5.44%	9.67%	-3.43%	35.25%	62.34%	-38.23%	36.01%	-15.30%	15.43%

Correlation

The correlation between VYMI and BNO is -0.32, 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	-0.32
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Mar 3, 2016	0.27

The correlation between VYMI and BNO shifts across timeframes, from -0.32 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VYMI vs. BNO — Risk / Return Rank

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

VYMI

VYMI Risk / Return Rank: 66
VYMI Sharpe Ratio Rank: 70
VYMI Sortino Ratio Rank: 68
VYMI Omega Ratio Rank: 69
VYMI Calmar Ratio Rank: 59
VYMI Martin Ratio Rank: 64

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.

VYMI vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard International High Dividend Yield ETF (VYMI) 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.

	VYMI	BNO	Difference
Sharpe ratio: Return per unit of total volatility	2.35	2.23	+0.12
Sortino ratio: Return per unit of downside risk	3.20	2.73	+0.47
Omega ratio: Gain probability vs. loss probability	1.43	1.38	+0.05
Calmar ratio: Return relative to maximum drawdown	2.99	5.17	-2.17
Martin ratio: Return relative to average drawdown	11.80	9.76	+2.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VYMI vs. BNO - Sharpe Ratio Comparison

The current VYMI Sharpe Ratio is 2.35, which is comparable to the BNO Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of VYMI 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

	VYMI	BNO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	2.23	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.69	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.37	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.14	+0.51

Drawdowns

VYMI vs. BNO - Drawdown Comparison

The maximum VYMI drawdown since its inception was -40.00%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for VYMI and BNO.

Drawdown Indicators

	VYMI	BNO	Difference
Max Drawdown Largest peak-to-trough decline	-40.00%	-87.06%	+47.06%
Max Drawdown (1Y) Largest decline over 1 year	-10.14%	-17.87%	+7.73%
Max Drawdown (3Y) Largest decline over 3 years	-12.84%	-23.75%	+10.91%
Max Drawdown (5Y) Largest decline over 5 years	-24.05%	-33.70%	+9.65%
Max Drawdown (10Y) Largest decline over 10 years	-40.00%	-75.18%	+35.18%
Current Drawdown Current decline from peak	-1.40%	-10.29%	+8.89%
Average Drawdown Average peak-to-trough decline	-6.31%	-40.17%	+33.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	9.45%	-6.88%

Volatility

VYMI vs. BNO - Volatility Comparison

The current volatility for Vanguard International High Dividend Yield ETF (VYMI) is 4.04%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that VYMI 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

	VYMI	BNO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	14.22%	-10.18%
Volatility (6M) Calculated over the trailing 6-month period	10.73%	36.10%	-25.37%
Volatility (1Y) Calculated over the trailing 1-year period	12.94%	41.46%	-28.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.84%	35.38%	-20.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.87%	36.68%	-19.81%

VYMI vs. BNO - Expense Ratio Comparison

VYMI has a 0.07% expense ratio, which is lower than BNO's 0.90% expense ratio.

Dividends

VYMI vs. BNO - Dividend Comparison

VYMI's dividend yield for the trailing twelve months is around 3.44%, while BNO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
VYMI Vanguard International High Dividend Yield ETF	3.44%	3.68%	4.84%	4.58%	4.70%	4.30%	3.22%	4.20%	4.29%	3.21%	2.39%

Frequently Asked Questions

Can I hold both VYMI and BNO in my portfolio?

VYMI and BNO have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VYMI or BNO?

BNO has higher volatility (14.22%) compared to VYMI (4.04%). In terms of maximum drawdown, VYMI dropped -40.00% vs BNO's -87.06%.

Which ETF is better, VYMI or BNO?

On 10-year performance, BNO leads with 13.60% vs 10.49% for VYMI. On fees, VYMI is cheaper at 0.07% per year. On volatility, VYMI has been the lower-risk option at 4.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VYMI or BNO?

Over the 10-year period, BNO has performed better with a 13.60% return vs 10.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VYMI or BNO?

VYMI is cheaper with a 0.07% expense ratio, compared with 0.90% for BNO.

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

VYMI has the higher dividend yield at 3.44%, compared with 0.00% for BNO.

What is the main difference between VYMI and BNO?

VYMI is categorized as Dividend, while BNO is Oil & Gas. VYMI tracks FTSE All-World ex US High Dividend Yield Index, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: Vanguard and Concierge Technologies. Their fees differ too: 0.07% for VYMI and 0.90% for BNO.

Which has better risk-adjusted returns?

VYMI currently has the higher Sharpe Ratio (2.35 vs 2.23), 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.