WCEO vs. BNO
WCEO (Hypatia Women CEO ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - WCEO is a Small Cap Blend Equities fund actively managed by Hypatia Capital, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. WCEO is actively managed, while BNO is passively managed. Over the past 3 years, WCEO returned 14.56%/yr vs 27.93%/yr for BNO. At a 0.02 correlation, their price movements are largely independent. WCEO charges 0.85%/yr vs 0.90%/yr for BNO.
Performance
WCEO vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, WCEO achieves a 11.34% return, which is significantly lower than BNO's 90.47% return.
WCEO
- 1D
- -0.81%
- 1M
- 2.32%
- YTD
- 11.34%
- 6M
- 12.19%
- 1Y
- 29.95%
- 3Y*
- 14.56%
- 5Y*
- —
- 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%
WCEO vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
WCEO Hypatia Women CEO ETF | 11.34% | 9.77% | 8.28% | 11.35% |
BNO United States Brent Oil Fund LP | 90.47% | -5.44% | 9.67% | 4.08% |
Correlation
The correlation between WCEO 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 | -0.04 |
Correlation (All Time) Calculated using the full available price history since Jan 10, 2023 | 0.02 |
The correlation between WCEO and BNO shifts across timeframes, from -0.30 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WCEO vs. BNO — Risk / Return Rank
WCEO
BNO
WCEO vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hypatia Women CEO ETF (WCEO) 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.
| WCEO | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.38 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.33 | 5.17 | -0.84 |
| Martin ratioReturn relative to average drawdown | 13.47 | 9.76 | +3.71 |
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
| WCEO | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.98 | 2.23 | -0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.69 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.14 | +0.53 |
Drawdowns
WCEO vs. BNO - Drawdown Comparison
The maximum WCEO drawdown since its inception was -25.88%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for WCEO and BNO.
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Drawdown Indicators
| WCEO | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.88% | -87.06% | +61.18% |
Max Drawdown (1Y)Largest decline over 1 year | -6.96% | -17.87% | +10.91% |
Max Drawdown (3Y)Largest decline over 3 years | -25.88% | -23.75% | -2.13% |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -0.81% | -10.29% | +9.48% |
Average DrawdownAverage peak-to-trough decline | -5.52% | -40.17% | +34.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.23% | 9.45% | -7.22% |
Volatility
WCEO vs. BNO - Volatility Comparison
The current volatility for Hypatia Women CEO ETF (WCEO) is 3.34%, while United States Brent Oil Fund LP (BNO) has a volatility of 14.22%. This indicates that WCEO 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
| WCEO | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.34% | 14.22% | -10.88% |
Volatility (6M)Calculated over the trailing 6-month period | 10.22% | 36.10% | -25.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.22% | 41.46% | -26.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.13% | 35.38% | -17.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.13% | 36.68% | -18.55% |
WCEO vs. BNO - Expense Ratio Comparison
WCEO has a 0.85% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
WCEO vs. BNO - Dividend Comparison
WCEO's dividend yield for the trailing twelve months is around 0.58%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
WCEO Hypatia Women CEO ETF | 0.58% | 0.64% | 0.88% | 0.93% |
Frequently Asked Questions
WCEO 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.
BNO has higher volatility (14.22%) compared to WCEO (3.34%). In terms of maximum drawdown, WCEO dropped -25.88% vs BNO's -87.06%.
On 3-year performance, BNO leads with 27.93% vs 14.56% for WCEO. On fees, WCEO is cheaper at 0.85% per year. On volatility, WCEO has been the lower-risk option at 3.34%. 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 27.93% return vs 14.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WCEO is cheaper with a 0.85% expense ratio, compared with 0.90% for BNO.
WCEO has the higher dividend yield at 0.58%, compared with 0.00% for BNO.
WCEO is categorized as Small Cap Blend Equities, while BNO is Oil & Gas. They also come from different issuers: Hypatia Capital and Concierge Technologies. Their fees differ too: 0.85% for WCEO and 0.90% for BNO.
BNO currently has the higher Sharpe Ratio (2.23 vs 1.98), 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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