WFH vs. BNO

Last updated Jun 5, 2026

WFH (Direxion Work From Home ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - WFH is a Technology Equities fund tracking the Solactive Remote Work Index, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. At a 0.10 correlation, their price movements are largely independent. WFH charges 0.45%/yr vs 0.90%/yr for BNO.

Performance

WFH vs. BNO - Performance Comparison

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

Returns By Period

WFH

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNO

• 1D: -2.71%
• 1M: -9.80%
• YTD: 85.31%
• 6M: 79.66%
• 1Y: 88.71%
• 3Y*: 26.74%
• 5Y*: 23.48%
• 10Y*: 13.13%

*Multi-year figures are annualized to reflect compound growth (CAGR)

WFH vs. BNO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
WFH Direxion Work From Home ETF	0.00%	15.47%	18.55%	35.75%	-45.26%	10.77%	34.26%
BNO United States Brent Oil Fund LP	85.31%	-5.44%	9.67%	-3.43%	35.25%	62.34%	19.15%

Correlation

The correlation between WFH and BNO is -0.11, 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	-0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (All Time) Calculated using the full available price history since Jun 26, 2020	0.10

The correlation between WFH and BNO shifts across timeframes, from -0.11 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.

Return for Risk

WFH vs. BNO — Risk / Return Rank

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

BNO

BNO Risk / Return Rank: 65
BNO Sharpe Ratio Rank: 65
BNO Sortino Ratio Rank: 57
BNO Omega Ratio Rank: 61
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.

WFH vs. BNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Work From Home ETF (WFH) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	WFH	BNO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.15	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.67	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.14	—

Drawdowns

Drawdown Indicators

	WFH	BNO	Difference
Max Drawdown Largest peak-to-trough decline	—	-87.06%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-17.87%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-23.75%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.70%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.18%	—
Current Drawdown Current decline from peak	—	-12.72%	—
Average Drawdown Average peak-to-trough decline	—	-40.16%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	9.48%	—

Volatility

Volatility by Period

	WFH	BNO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.12%	—
Volatility (6M) Calculated over the trailing 6-month period	—	36.21%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	41.56%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	35.40%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	36.69%	—

WFH vs. BNO - Expense Ratio Comparison

WFH has a 0.45% expense ratio, which is lower than BNO's 0.90% expense ratio.

Dividends

WFH vs. BNO - Dividend Comparison

WFH's dividend yield for the trailing twelve months is around 0.91%, while BNO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
BNO United States Brent Oil Fund LP	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WFH Direxion Work From Home ETF	0.91%	0.94%	0.50%	0.67%	0.42%	0.79%	0.86%

Frequently Asked Questions

Can I hold both WFH and BNO in my portfolio?

WFH and BNO have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WFH or BNO?

On fees, WFH is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WFH or BNO?

WFH is cheaper with a 0.45% expense ratio, compared with 0.90% for BNO.

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

WFH has the higher dividend yield at 0.91%, compared with 0.00% for BNO.

What is the main difference between WFH and BNO?

WFH is categorized as Technology Equities, while BNO is Oil & Gas. WFH tracks Solactive Remote Work Index, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: Direxion and Concierge Technologies. Their fees differ too: 0.45% for WFH and 0.90% for BNO.