WLDR vs. BNO
WLDR (Affinity World Leaders Equity ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - WLDR is a Global Equities fund tracking the Thomson Reuters StarMine Affinity World Leaders Index, while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 5 years, WLDR returned 18.51%/yr vs 23.77%/yr for BNO. At a 0.19 correlation, their price movements are largely independent. WLDR charges 0.67%/yr vs 0.90%/yr for BNO.
Performance
WLDR vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, WLDR achieves a 31.09% return, which is significantly lower than BNO's 86.76% return.
WLDR
- 1D
- -0.28%
- 1M
- 13.39%
- YTD
- 31.09%
- 6M
- 37.06%
- 1Y
- 60.09%
- 3Y*
- 33.25%
- 5Y*
- 18.51%
- 10Y*
- —
BNO
- 1D
- 0.76%
- 1M
- -7.65%
- YTD
- 86.76%
- 6M
- 83.45%
- 1Y
- 89.50%
- 3Y*
- 27.10%
- 5Y*
- 23.77%
- 10Y*
- 13.38%
WLDR vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
WLDR Affinity World Leaders Equity ETF | 31.09% | 31.24% | 22.74% | 18.93% | -10.44% | 26.77% | -1.93% | 21.54% | -20.28% |
BNO United States Brent Oil Fund LP | 86.76% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | -38.23% | 36.01% | -18.59% |
Correlation
The correlation between WLDR and BNO is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jan 18, 2018 | 0.19 |
The correlation between WLDR and BNO shifts across timeframes, from -0.28 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WLDR vs. BNO — Risk / Return Rank
WLDR
BNO
WLDR vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Affinity World Leaders Equity ETF (WLDR) 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.
| WLDR | BNO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 4.04 | 2.17 | +1.87 |
Sortino ratioReturn per unit of downside risk | 5.33 | 2.68 | +2.65 |
Omega ratioGain probability vs. loss probability | 1.69 | 1.37 | +0.32 |
Calmar ratioReturn relative to maximum drawdown | 6.84 | 5.39 | +1.45 |
Martin ratioReturn relative to average drawdown | 27.78 | 10.23 | +17.55 |
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
| WLDR | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.04 | 2.17 | +1.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.08 | 0.68 | +0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.14 | +0.47 |
Drawdowns
WLDR vs. BNO - Drawdown Comparison
The maximum WLDR drawdown since its inception was -44.69%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for WLDR and BNO.
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Drawdown Indicators
| WLDR | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.69% | -87.06% | +42.37% |
Max Drawdown (1Y)Largest decline over 1 year | -8.86% | -17.87% | +9.01% |
Max Drawdown (3Y)Largest decline over 3 years | -20.30% | -23.75% | +3.45% |
Max Drawdown (5Y)Largest decline over 5 years | -23.77% | -33.70% | +9.93% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -0.28% | -12.04% | +11.76% |
Average DrawdownAverage peak-to-trough decline | -8.63% | -40.18% | +31.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 9.43% | -7.25% |
Volatility
WLDR vs. BNO - Volatility Comparison
The current volatility for Affinity World Leaders Equity ETF (WLDR) is 5.35%, while United States Brent Oil Fund LP (BNO) has a volatility of 15.03%. This indicates that WLDR 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
| WLDR | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.35% | 15.03% | -9.68% |
Volatility (6M)Calculated over the trailing 6-month period | 12.06% | 36.08% | -24.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.94% | 41.56% | -26.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.21% | 35.37% | -18.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.94% | 36.68% | -15.74% |
WLDR vs. BNO - Expense Ratio Comparison
WLDR has a 0.67% expense ratio, which is lower than BNO's 0.90% expense ratio.
Dividends
WLDR vs. BNO - Dividend Comparison
WLDR's dividend yield for the trailing twelve months is around 6.97%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
WLDR Affinity World Leaders Equity ETF | 6.97% | 9.01% | 13.99% | 2.28% | 2.10% | 7.55% | 1.80% | 2.48% | 2.82% |
Frequently Asked Questions
WLDR and BNO have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (15.03%) compared to WLDR (5.35%). In terms of maximum drawdown, WLDR dropped -44.69% vs BNO's -87.06%.
On 5-year performance, BNO leads with 23.77% vs 18.51% for WLDR. On fees, WLDR is cheaper at 0.67% per year. On volatility, WLDR has been the lower-risk option at 5.35%. 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 23.77% return vs 18.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WLDR is cheaper with a 0.67% expense ratio, compared with 0.90% for BNO.
WLDR has the higher dividend yield at 6.97%, compared with 0.00% for BNO.
WLDR is categorized as Global Equities, while BNO is Oil & Gas. WLDR tracks Thomson Reuters StarMine Affinity World Leaders Index, while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: Regents Park Funds and Concierge Technologies. Their fees differ too: 0.67% for WLDR and 0.90% for BNO.
WLDR currently has the higher Sharpe Ratio (4.04 vs 2.17), 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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