BNO United States Brent Oil Fund LP
What is BNO?
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.
BNO Summary Data
BNO Portfolio Data
BNO Index Data
BNO Portfolio Management
BNO Tax Exposures
BNO Fund Structure
Factset Analytics Block Liquidity
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 Top 10 Targeted Commodity Weights
BNO Performance Statistics
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.