BNO

United States Brent Oil Fund LP
*Unless otherwise stated, data provided by FactSet.

BNO Fund Description

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

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.

PERFORMANCE [as of 10/22/21] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
BNO 14.86% 20.17% 73.45% 111.75% -0.25% 8.20% -5.11%
BNO (NAV) 13.10% 18.34% 74.26% 109.70% -0.01% 8.32% -5.01%
Front Month Brent Crude Oil -- -- -- -- -- -- --
S&P GSCI Crude Oil Index 16.81% 18.09% 77.39% 109.31% -14.87% -4.41% -11.94%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

BNO Summary Data

06/02/10
Commodities Pool
0.90%
$255.42M
$12.53M
0.05%
RJA, DBO, USL

BNO Portfolio Data

Futures
Front Month
Monthly
--

BNO Index Data

Single Asset
Single Asset
S&P GSCI Crude Oil Index

BNO Portfolio Management

0.90%
--
--
--

BNO Tax Exposures

27.84% / 27.84%
--
Yes

BNO Fund Structure

Commodities Pool
No
N/A
N/A
N/A
Low
Daily

BNO Factset Analytics Block Liquidity

As of 10/25/21
5
4
3
2
1

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

637,989
$12.53M
567,082
$12.46M
0.05%
$0.01
-0.06%
0.73% / -0.78%
None
100.00%
50,000
11.34
0.04%
--
7,333
$22.50
5

BNO Sector Breakdown


BNO
Segment Benchmark
100.00%
100.00%

BNO Top 10 Targeted Commodity Weights

49.85%
49.72%
0.43%
100.00%

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.

BNO Performance Statistics

0.98
0.91
0.80
0.87
0.01%