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BNO vs UNL

United States Brent Oil Fund, LP vs United States 12 Month Natural Gas Fund, LP

BNO

United States Brent Oil Fund, LP

Annual cost

1.15%

Fund size

$879M

UNL

United States 12 Month Natural Gas Fund, LP

Annual cost

1.65%

Fund size

$16M

Key differences

  • BNO costs 0.50% less per year.
  • BNO is significantly larger than UNL — larger funds tend to be more liquid and less likely to close.
  • Over the last 3 years, BNO has delivered higher annualized returns.

Side-by-side comparison

BNOUNL
Annual cost (TER)1.15%1.65%
Fund size (AUM)$879M$16M
Since20102009
Dividend yield0.00%0.00%
Asset classcommoditycommodity
Region
Strategy
CAGR 1Y+85.7%-31.0%
CAGR 3Y+26.1%-18.7%
CAGR 5Y+24.7%-6.1%
Sharpe 3Y0.77-0.54
Volatility 1Y41.43%35.98%
Max drawdown-75.18%-78.12%

Similar to BNO and UNL