ZECP vs. BNO
ZECP (Zacks Earnings Consistent Portfolio ETF) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - ZECP is a Large Cap Blend Equities fund actively managed by Zacks, while BNO is a Oil & Gas fund tracking the Crude Oil Brent ICE Near Term Futures. ZECP is actively managed, while BNO is passively managed. Over the past 3 years, ZECP returned 14.80%/yr vs 20.31%/yr for BNO. Their -0.01 correlation means they have often moved in opposite directions in the past. ZECP charges 0.55%/yr vs 1.00%/yr for BNO.
Performance
ZECP vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, ZECP achieves a 8.60% return, which is significantly lower than BNO's 77.90% return.
ZECP
- 1D
- 0.05%
- 1M
- -0.58%
- 6M
- 6.82%
- YTD
- 8.60%
- 1Y
- 18.64%
- 3Y*
- 14.80%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 9.36%
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 | |
| $1.64M | $1.62M | $1.64M |
ZECP vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZECP Zacks Earnings Consistent Portfolio ETF | 8.60% | 15.03% | 17.32% | 13.88% | -13.41% | 7.62% |
BNO United States Brent Oil Fund LP | 77.90% | -5.44% | 9.67% | -3.43% | 35.25% | 17.41% |
Correlation
The correlation between ZECP and BNO is -0.35, 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. | -0.35 |
Correlation (3Y) Balances recent behavior with more history. | -0.15 |
Correlation (All Time) Calculated using the full available price history since Aug 24, 2021 | -0.01 |
Over the past year, the inverse relationship between ZECP and BNO has strengthened: their correlation has moved from -0.01 to -0.35, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
ZECP vs. BNO — Risk / Return Rank
ZECP
BNO
ZECP vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Zacks Earnings Consistent Portfolio ETF (ZECP) 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.
| ZECP | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.24 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | 1.70 | +0.43 |
| Martin ratioReturn relative to average drawdown | 9.58 | 5.15 | +4.43 |
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Drawdowns
ZECP vs. BNO - Drawdown Comparison
The maximum ZECP drawdown since its inception was -21.86%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for ZECP and BNO.
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Drawdown Indicators
| ZECP | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.86% | -87.06% | +65.20% |
Max Drawdown (1Y)Largest decline over 1 year | -8.32% | -34.46% | +26.14% |
Max Drawdown (3Y)Largest decline over 3 years | -15.47% | -34.46% | +18.99% |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -0.58% | -16.21% | +15.63% |
Average DrawdownAverage peak-to-trough decline | -5.35% | -39.99% | +34.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 11.86% | -10.01% |
Volatility
ZECP vs. BNO - Volatility Comparison
The current volatility for Zacks Earnings Consistent Portfolio ETF (ZECP) is 2.82%, while United States Brent Oil Fund LP (BNO) has a volatility of 17.47%. This indicates that ZECP 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
| ZECP | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.82% | 17.47% | -14.65% |
Volatility (6M)Calculated over the trailing 6-month period | 8.49% | 40.96% | -32.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.85% | 44.54% | -33.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.53% | 36.41% | -21.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.53% | 36.98% | -22.45% |
ZECP vs. BNO - Expense Ratio Comparison
ZECP has a 0.55% expense ratio, which is lower than BNO's 1.00% expense ratio.
Dividends
ZECP vs. BNO - Dividend Comparison
ZECP's dividend yield for the trailing twelve months is around 0.73%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZECP Zacks Earnings Consistent Portfolio ETF | 0.73% | 0.79% | 0.63% | 0.73% | 0.91% | 0.11% |
Frequently Asked Questions
ZECP and BNO have a correlation of -0.35, 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 ZECP (2.82%). In terms of maximum drawdown, ZECP dropped -21.86% vs BNO's -87.06%.
On 3-year performance, BNO leads with 20.31% vs 14.80% for ZECP. On fees, ZECP is cheaper at 0.55% per year. On volatility, ZECP has been the lower-risk option at 2.82%. 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 20.31% return vs 14.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ZECP is cheaper with a 0.55% expense ratio, compared with 1.00% for BNO.
ZECP has the higher dividend yield at 0.73%, compared with 0.00% for BNO.
ZECP is categorized as Large Cap Blend Equities, while BNO is Oil & Gas. They also come from different issuers: Zacks and USCF. Their fees differ too: 0.55% for ZECP and 1.00% for BNO.
ZECP currently has the higher Sharpe Ratio (1.64 vs 1.32), 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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