WANT vs. BNO
WANT (Direxion Daily Consumer Discretionary Bull 3X Shares) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - WANT is a Leveraged Equities fund tracking the S&P Consumer Discretionary Select Sector Index (-300%), while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 5 years, WANT returned -5.36%/yr vs 24.16%/yr for BNO. At a 0.12 correlation, their price movements are largely independent. WANT charges 0.98%/yr vs 0.90%/yr for BNO.
Performance
WANT vs. BNO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, WANT achieves a -14.08% return, which is significantly lower than BNO's 90.47% return.
WANT
- 1D
- -2.18%
- 1M
- -3.95%
- YTD
- -14.08%
- 6M
- -14.66%
- 1Y
- 6.37%
- 3Y*
- 19.16%
- 5Y*
- -5.36%
- 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%
WANT vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
WANT Direxion Daily Consumer Discretionary Bull 3X Shares | -14.08% | -6.94% | 60.52% | 114.43% | -83.03% | 84.81% | 45.26% | 90.07% | -24.91% |
BNO United States Brent Oil Fund LP | 90.47% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | -38.23% | 36.01% | -9.18% |
Correlation
The correlation between WANT and BNO is -0.30, 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 | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2018 | 0.12 |
The correlation between WANT and BNO shifts across timeframes, from -0.30 (1 year) to 0.12 (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.
Return for Risk
WANT vs. BNO — Risk / Return Rank
WANT
BNO
WANT vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) 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.
| WANT | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.11 | ||
| Sortino ratioReturn per unit of downside risk | -2.17 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.38 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.16 | 5.17 | -5.01 |
| Martin ratioReturn relative to average drawdown | 0.42 | 9.76 | -9.34 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| WANT | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.12 | 2.23 | -2.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.08 | 0.69 | -0.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | 0.14 | -0.03 |
Drawdowns
WANT vs. BNO - Drawdown Comparison
The maximum WANT drawdown since its inception was -85.89%, roughly equal to the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for WANT and BNO.
Loading charts...
Drawdown Indicators
| WANT | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.89% | -87.06% | +1.17% |
Max Drawdown (1Y)Largest decline over 1 year | -41.27% | -17.87% | -23.40% |
Max Drawdown (3Y)Largest decline over 3 years | -63.53% | -23.75% | -39.78% |
Max Drawdown (5Y)Largest decline over 5 years | -85.89% | -33.70% | -52.19% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -58.58% | -10.29% | -48.29% |
Average DrawdownAverage peak-to-trough decline | -43.07% | -40.17% | -2.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.11% | 9.45% | +5.66% |
Volatility
WANT vs. BNO - Volatility Comparison
Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) has a higher volatility of 15.45% compared to United States Brent Oil Fund LP (BNO) at 14.22%. This indicates that WANT's price experiences larger fluctuations and is considered to be riskier than BNO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| WANT | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.45% | 14.22% | +1.23% |
Volatility (6M)Calculated over the trailing 6-month period | 38.86% | 36.10% | +2.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.92% | 41.46% | +12.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.65% | 35.38% | +35.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.50% | 36.68% | +34.82% |
WANT vs. BNO - Expense Ratio Comparison
WANT has a 0.98% expense ratio, which is higher than BNO's 0.90% expense ratio.
Dividends
WANT vs. BNO - Dividend Comparison
WANT's dividend yield for the trailing twelve months is around 0.62%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WANT Direxion Daily Consumer Discretionary Bull 3X Shares | 0.62% | 0.65% | 0.61% | 0.46% | 0.00% | 0.00% | 0.07% | 0.64% |
Frequently Asked Questions
WANT and BNO have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WANT has higher volatility (15.45%) compared to BNO (14.22%). In terms of maximum drawdown, WANT dropped -85.89% vs BNO's -87.06%.
On 5-year performance, BNO leads with 24.16% vs -5.36% for WANT. On fees, BNO is cheaper at 0.90% per year. On volatility, BNO has been the lower-risk option at 14.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BNO has performed better with a 24.16% return vs -5.36%. 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 0.98% for WANT.
WANT has the higher dividend yield at 0.62%, compared with 0.00% for BNO.
WANT is categorized as Leveraged Equities, while BNO is Oil & Gas. WANT tracks S&P Consumer Discretionary Select Sector Index (-300%), while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: Direxion and Concierge Technologies. Their fees differ too: 0.98% for WANT and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.23 vs 0.12), 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.
Find the right allocation for WANT and BNO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer