XITK vs. BNO
XITK (SPDR FactSet Innovative Technology ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - XITK is a Technology Equities fund tracking the FactSet Innovative Technology Index, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. Both are passively managed. Over the past 10 years, XITK returned 12.53%/yr vs 15.06%/yr for BNO. Their 0.12 correlation means their historical movements had little consistent relationship. XITK charges 0.45%/yr vs 1.00%/yr for BNO.
Performance
XITK vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, XITK achieves a 3.17% return, which is significantly lower than BNO's 77.90% return. Over the past 10 years, XITK has underperformed BNO with an annualized return of 12.53%, while BNO has yielded a comparatively higher 15.06% annualized return.
XITK
- 1D
- 2.10%
- 1M
- -2.48%
- 6M
- 11.87%
- YTD
- 3.17%
- 1Y
- 1.26%
- 3Y*
- 8.55%
- 5Y*
- -3.68%
- 10Y*
- 12.53%
- ALL TIME*
- 13.77%
BNO
- 1D
- 1.45%
- 1M
- 27.00%
- 6M
- 52.90%
- YTD
- 77.90%
- 1Y
- 62.83%
- 3Y*
- 20.31%
- 5Y*
- 20.89%
- 10Y*
- 15.06%
- ALL TIME*
- 4.31%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $107.13M | $97.34M | $147.52M | |
| $94.40K | $185.95K | $342.96K |
XITK vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XITK SPDR FactSet Innovative Technology ETF | 3.17% | 2.53% | 19.12% | 45.87% | -47.45% | -11.24% | 90.22% | 36.98% | 7.60% | 36.01% |
BNO United States Brent Oil Fund LP | 77.90% | -5.44% | 9.67% | -3.43% | 35.25% | 62.34% | -38.23% | 36.01% | -15.30% | 15.43% |
Correlation
The correlation between XITK and BNO is -0.15, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.15 |
Correlation (3Y) Balances recent behavior with more history. | -0.03 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.05 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jan 14, 2016 | 0.12 |
The correlation between XITK and BNO shifts across timeframes, from -0.15 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XITK vs. BNO — Risk / Return Rank
XITK
BNO
XITK vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR FactSet Innovative Technology ETF (XITK) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| XITK | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.36 | ||
| Sortino ratioReturn per unit of downside risk | -1.77 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.24 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 1.70 | -1.75 |
| Martin ratioReturn relative to average drawdown | -0.11 | 5.15 | -5.26 |
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Drawdowns
XITK vs. BNO - Drawdown Comparison
The maximum XITK drawdown since its inception was -65.56%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for XITK and BNO.
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Drawdown Indicators
| XITK | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.56% | -87.06% | +21.50% |
Max Drawdown (1Y)Largest decline over 1 year | -28.03% | -34.46% | +6.43% |
Max Drawdown (3Y)Largest decline over 3 years | -28.18% | -34.46% | +6.28% |
Max Drawdown (5Y)Largest decline over 5 years | -61.53% | -34.46% | -27.07% |
Max Drawdown (10Y)Largest decline over 10 years | -65.56% | -75.18% | +9.62% |
Current DrawdownCurrent decline from peak | -29.65% | -16.21% | -13.44% |
Average DrawdownAverage peak-to-trough decline | -22.17% | -39.99% | +17.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.69% | 11.86% | +0.83% |
Volatility
XITK vs. BNO - Volatility Comparison
The current volatility for SPDR FactSet Innovative Technology ETF (XITK) is 9.22%, while United States Brent Oil Fund LP (BNO) has a volatility of 17.47%. This indicates that XITK 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
| XITK | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.22% | 17.47% | -8.25% |
Volatility (6M)Calculated over the trailing 6-month period | 25.08% | 40.96% | -15.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.28% | 44.54% | -15.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.07% | 36.41% | -3.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.72% | 36.98% | -7.26% |
XITK vs. BNO - Expense Ratio Comparison
XITK has a 0.45% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
XITK vs. BNO - Dividend Comparison
Neither XITK nor BNO has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XITK SPDR FactSet Innovative Technology ETF | 0.00% | 0.00% | 0.00% | 0.08% | 0.11% | 0.00% | 0.06% | 0.14% | 1.50% | 1.74% | 1.88% |
Frequently Asked Questions
XITK and BNO have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNO has higher volatility (17.47%) compared to XITK (9.22%). In terms of maximum drawdown, XITK dropped -65.56% vs BNO's -87.06%.
On 10-year performance, BNO leads with 15.06% vs 12.53% for XITK. On fees, XITK is cheaper at 0.45% per year. On volatility, XITK has been the lower-risk option at 9.22%. 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 15.06% return vs 12.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XITK is cheaper with a 0.45% expense ratio, compared with 1.00% for BNO.
XITK and BNO have nearly identical dividend yields, around 0.00%.
XITK is categorized as Technology Equities, while BNO is Oil & Gas. XITK tracks FactSet Innovative Technology Index, while BNO tracks Crude Oil Brent ICE Near Term Futures. They also come from different issuers: State Street and USCF. Their fees differ too: 0.45% for XITK and 1.00% for BNO.
BNO currently has the higher Sharpe Ratio (1.32 vs -0.05), 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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