(BNO) United States Brent Oil Fund - Overview
ETF Category: Commodities Focused | Exchange: NYSE ARCA (USA) | Market Cap: 831m USD | Total Return: 107.5% in 12m
TER: 1.00%
Avg Turnover: 208M
Warnings
No concerns identified
Tailwinds
Leader, Tailwind, Pullback 52w
The United States Brent Oil Fund LP (BNO) is an exchange-traded security designed to track the daily price movements of Brent crude oil. The fund achieves this objective by investing in near-month futures contracts traded on the ICE Futures Europe Exchange. To avoid physical delivery and manage expiration risks, the fund rolls its positions into the next-month contract when the current lead contract is within two weeks of expiration.
Brent crude serves as a primary global price benchmark for Atlantic basin oils and is often characterized by higher volatility than West Texas Intermediate (WTI) due to geopolitical factors and maritime logistics. Commodity-based ETFs like BNO utilize a business model centered on futures contracts rather than physical storage, which subjects the fund to the effects of contango or backwardation in the futures curve. More granular performance metrics and historical data are available on ValueRay for those conducting deeper analysis.
- Global Brent crude oil price fluctuations directly dictate fund net asset value
- Roll yield performance depends on backwardation or contango in oil futures curves
- Geopolitical instability in Middle East and Europe impacts Brent supply premiums
- US dollar strength inversely correlates with international Brent crude oil pricing
- ICE Futures Europe exchange liquidity and regulatory limits affect contract rolling efficiency
Over the past week, the price has changed by +4.78%, over one month by +21.50%, over three months by +73.28% and over the past year by +107.52%.
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