BNO vs SCHD
United States Brent Oil Fund, LP vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. BNO delivered stronger 1-year returns. SCHD offers more diversification with 100 holdings.
Side-by-Side Comparison
| Metric | BNO | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 1.15% | 0.06% | |
| AUM | $652M | $103.7B | |
| Dividend Yield | 0.00% | 3.31% | |
| Holdings | 5 | 104 | |
| YTD Return | +66.12% | +24.26% | |
| 1Y Return | +59.08% | +31.38% | |
| 3Y Return (annualized) | +17.08% | +15.08% | |
| 5Y Return (annualized) | +21.19% | +9.72% | |
| Volatility (annualized) | 35.2% | 13.6% | |
| Max Drawdown | -93.3% | -33.4% | |
| Fund Family | USCF Investments | Charles Schwab Asset Management | |
| Category | Commodity | Equity | |
| Inception | Jun 2, 2010 | Oct 20, 2011 |
BNO vs SCHD Performance
United States Brent Oil Fund, LP (BNO) is a ETF from USCF Investments and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year BNO returned +59.08% while SCHD returned +31.38%. Year to date, BNO is up 66.12% versus a gain of 24.26% for SCHD.
Over three years, BNO compounded at +17.08% per year against +15.08% for SCHD; over five years the annualized figures are +21.19% and +9.72% respectively. Across the full 15-year window we track, SCHD has the edge at +11.39% annualized vs +3.82%. 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 13.6% for SCHD. 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 -33.4% for SCHD. 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 0.38. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BNO charges 1.15% per year while SCHD charges 0.06%. On a $10,000 position that is $115 vs $6 annually, a gap of $109 per year that compounds over a long holding period. On income, BNO currently yields 0.00% against 3.31% for SCHD.
Holdings Overlap
BNO and SCHD share 0 holdings out of 102 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 SCHD?
BNO has an expense ratio of 1.15% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $109 per year of difference.
Which performed better, BNO or SCHD?
Over the past year BNO returned +59.08% vs +31.38% for SCHD, so BNO leads on 1-year performance. Over the longest common window we track (15 years), BNO annualized +3.82% vs +11.39% for SCHD. Past performance does not guarantee future results.
Which is riskier, BNO or SCHD?
BNO has been the more volatile fund at 35.2% annualized versus 13.6% for SCHD. Worst drawdown: BNO -93.3% vs SCHD -33.4%.
Should I hold both BNO and SCHD?
BNO and SCHD have a monthly-return correlation of 0.38, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BNO and SCHD?
BNO and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 102 unique securities.
Which pays a higher dividend, BNO or SCHD?
BNO yields 0.00% while SCHD yields 3.31%, so SCHD currently pays the higher dividend yield.
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