WBIG vs. BNO
WBIG (WBI BullBear Yield 3000 ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - WBIG is a Global Equities fund actively managed by WBI, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. WBIG is actively managed, while BNO is passively managed. Over the past 10 years, WBIG returned 3.82%/yr vs 13.60%/yr for BNO. At a 0.22 correlation, their price movements are largely independent. WBIG charges 1.14%/yr vs 0.90%/yr for BNO.
Performance
WBIG vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, WBIG achieves a 8.66% return, which is significantly lower than BNO's 90.47% return. Over the past 10 years, WBIG has underperformed BNO with an annualized return of 3.82%, while BNO has yielded a comparatively higher 13.60% annualized return.
WBIG
- 1D
- -0.94%
- 1M
- 3.95%
- YTD
- 8.66%
- 6M
- 7.77%
- 1Y
- 19.57%
- 3Y*
- 6.22%
- 5Y*
- 0.62%
- 10Y*
- 3.82%
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%
WBIG vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WBIG WBI BullBear Yield 3000 ETF | 8.66% | -0.39% | 5.87% | -2.68% | -7.68% | 16.04% | -3.30% | 6.85% | -8.46% | 25.62% |
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 WBIG and BNO is -0.17, 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 | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Aug 28, 2014 | 0.22 |
The correlation between WBIG and BNO shifts across timeframes, from -0.17 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WBIG vs. BNO — Risk / Return Rank
WBIG
BNO
WBIG vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WBI BullBear Yield 3000 ETF (WBIG) 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.
| WBIG | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.38 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.88 | 5.17 | -1.29 |
| Martin ratioReturn relative to average drawdown | 12.22 | 9.76 | +2.46 |
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
| WBIG | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.99 | 2.23 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.69 | -0.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | 0.37 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.14 | +0.01 |
Drawdowns
WBIG vs. BNO - Drawdown Comparison
The maximum WBIG drawdown since its inception was -25.32%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for WBIG and BNO.
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Drawdown Indicators
| WBIG | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.32% | -87.06% | +61.74% |
Max Drawdown (1Y)Largest decline over 1 year | -5.06% | -17.87% | +12.81% |
Max Drawdown (3Y)Largest decline over 3 years | -20.20% | -23.75% | +3.55% |
Max Drawdown (5Y)Largest decline over 5 years | -25.32% | -33.70% | +8.38% |
Max Drawdown (10Y)Largest decline over 10 years | -25.32% | -75.18% | +49.86% |
Current DrawdownCurrent decline from peak | -4.84% | -10.29% | +5.45% |
Average DrawdownAverage peak-to-trough decline | -10.92% | -40.17% | +29.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 9.45% | -7.84% |
Volatility
WBIG vs. BNO - Volatility Comparison
The current volatility for WBI BullBear Yield 3000 ETF (WBIG) is 3.43%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that WBIG 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
| WBIG | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.43% | 14.22% | -10.79% |
Volatility (6M)Calculated over the trailing 6-month period | 6.58% | 36.10% | -29.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.89% | 41.46% | -31.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.05% | 35.38% | -23.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.55% | 36.68% | -25.13% |
WBIG vs. BNO - Expense Ratio Comparison
WBIG has a 1.14% expense ratio, which is higher than BNO's 0.90% expense ratio.
Dividends
WBIG vs. BNO - Dividend Comparison
WBIG's dividend yield for the trailing twelve months is around 1.21%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
WBIG WBI BullBear Yield 3000 ETF | 1.21% | 1.74% | 2.05% | 1.74% | 1.29% | 2.94% | 0.90% | 1.87% | 1.20% | 1.27% | 0.96% | 1.41% |
Frequently Asked Questions
WBIG and BNO have a correlation of -0.17, 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 WBIG (3.43%). In terms of maximum drawdown, WBIG dropped -25.32% vs BNO's -87.06%.
On 10-year performance, BNO leads with 13.60% vs 3.82% for WBIG. On fees, BNO is cheaper at 0.90% per year. On volatility, WBIG has been the lower-risk option at 3.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BNO has performed better with a 13.60% return vs 3.82%. 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 1.14% for WBIG.
WBIG has the higher dividend yield at 1.21%, compared with 0.00% for BNO.
WBIG is categorized as Global Equities, while BNO is Oil & Gas. They also come from different issuers: WBI and Concierge Technologies. Their fees differ too: 1.14% for WBIG and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.23 vs 1.99), 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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