BNO vs QQQ
United States Brent Oil Fund, LP vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. BNO delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | BNO | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 1.15% | 0.18% | |
| AUM | $665M | $496.3B | |
| Dividend Yield | 0.00% | 0.44% | |
| Holdings | 5 | 108 | |
| YTD Return | +89.35% | +16.23% | |
| 1Y Return | +79.26% | +26.23% | |
| 3Y Return (annualized) | +23.00% | +25.75% | |
| 5Y Return (annualized) | +25.96% | +14.78% | |
| Volatility (annualized) | 35.2% | 30.6% | |
| Max Drawdown | -93.3% | -83.0% | |
| Fund Family | USCF Investments | Invesco (US) | |
| Category | Commodity | Equity | |
| Inception | Jun 2, 2010 | Mar 10, 1999 |
BNO vs QQQ Performance
United States Brent Oil Fund, LP (BNO) is a ETF from USCF Investments and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year BNO returned +79.26% while QQQ returned +26.23%. Year to date, BNO is up 89.35% versus a gain of 16.23% for QQQ.
Over three years, BNO compounded at +23.00% per year against +25.75% for QQQ; over five years the annualized figures are +25.96% and +14.78% respectively. Across the full 16-year window we track, QQQ has the edge at +13.02% annualized vs +4.65%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BNO has been the more volatile fund, with annualized monthly volatility of 35.2% compared with 30.6% for QQQ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -93.3% for BNO and -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.20. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BNO charges 1.15% per year while QQQ charges 0.18%. On a $10,000 position that is $115 vs $18 annually, a gap of $97 per year that compounds over a long holding period. On income, BNO currently yields 0.00% against 0.44% for QQQ.
Holdings Overlap
BNO and QQQ share 0 holdings out of 104 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BNO or QQQ?
BNO has an expense ratio of 1.15% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $97 per year of difference.
Which performed better, BNO or QQQ?
Over the past year BNO returned +79.26% vs +26.23% for QQQ, so BNO leads on 1-year performance. Over the longest common window we track (16 years), BNO annualized +4.65% vs +13.02% for QQQ. Past performance does not guarantee future results.
Which is riskier, BNO or QQQ?
BNO has been the more volatile fund at 35.2% annualized versus 30.6% for QQQ. Worst drawdown: BNO -93.3% vs QQQ -83.0%.
Should I hold both BNO and QQQ?
BNO and QQQ have a monthly-return correlation of 0.20, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BNO and QQQ?
BNO and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 104 unique securities.
Which pays a higher dividend, BNO or QQQ?
BNO yields 0.00% while QQQ yields 0.44%, so QQQ currently pays the higher dividend yield.
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