What is BNO?

BNO tracks the Brent oil spot price using near-month ICE futures contracts.

PERFORMANCE [as of 03/24/23] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
BNO -9.61% -10.71% -12.16% -23.85% 40.00% 5.22% -4.82%
BNO (NAV) -9.39% -10.57% -12.09% -24.39% 40.22% 5.22% -4.83%
Front Month Brent Crude Oil -- -- -- -- -- -- --
S&P GSCI Crude Oil -9.06% -12.60% -13.44% -29.97% 22.24% -7.19% -11.88%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

BNO Factset Analytics Insight

BNO provides exposure to Brent crude oil, as an alternative to a West Texas Intermediate (WTI) benchmark. BNO exclusively trades front-month futures contracts traded on the ICE Futures Exchange (ICE Futures). The fund’s exposure is focused on short-term futures thus, it is extremely sensitive to changes in the spot market, as you'd expect, and it can look very different from the returns you'd see in the WTI market. BNO is structured as a commodities pool, so cap gains are taxed at a blended 60% long-term/ 40% short-term rate regardless of the holding period, and investors receive a K-1 at tax time. Overall, BNO is a decent alternative to the WTI benchmark.

BNO Summary Data

Marygold
06/02/10
1.02%
$238.88M
S&P GSCI Crude Oil
Commodities Pool

Peers

S&P GSCI Crude Oil
N/A

Fund Flows

+$0.01B 5 Days
+$0.02B 30 Days
+$0.04B 90 Days

BNO Portfolio Data

Futures
Front Month
Monthly
--

BNO Index Data

Single Asset
Single Asset
S&P GSCI Crude Oil

BNO Portfolio Management

1.02%
--
--
--

BNO Tax Exposures

27.84% / 27.84%
--
Yes

BNO Fund Structure

Commodities Pool
Yes
N/A
N/A
N/A
Low
Daily

Factset Analytics Block Liquidity

As of 03/27/23

This measurement shows how easy it is to trade a $1 million USD block of BNO. BNO is rated a 5 out of 5.

BNO Tradability

286,834
$7.64M
256,251
$7.03M
0.06%
$0.02
-0.02%
0.89% / -2.60%
None
100.00%
50,000
5.13
0.04%
--
24,559
$24.84
5

BNO Top 10 Targeted Commodity Weights

50.37%
49.63%
100.00%

BNO Performance Statistics

0.98
0.92
0.80
0.87
0.01%

BNO Tenor Strategy

BNO invests solely in front-month futures contracts. This means that the fund will be particularly sensitive to changes in spot prices, but may be priced higher or lower than spot, sometimes dramatically.

BNO Rolling Strategy

BNO rolls contracts over a 4 day period each month.