# United States Brent Oil Fund, LP (BNO)

> Source: Nexqual · https://nexqual.com/BNO · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, United States Brent Oil Fund, LP (BNO), nexqual.com/BNO" · informational, not investment advice.

**Price:** USD 70.99 (+3.02% on the day) · last close of Oct 23, 2026; US market after hours, not a live price. Prev close 68.91 · day 70.02–71.28 · 52w 27.14–71.28 · market cap null · PCX

## Key facts
- Total return with dividends: 1Y +138.3% vs S&P 500 +13.4%; 5Y +219.1% vs S&P 500 +76.9%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Net income | $157M | $82.6M | -$4.1M | $10.6M | -$4.1M | -$45.1M |
| Cash + short-term investments | $298M | $196M | $155M | $155M | $149M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)


## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +138.3% | +219.1% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | +139.0% | +26.1% |
| Volatility (annualized) | 47.5% | 37.4% |
| Max drawdown | -34.5% (May 2026→Jul 2026) | -32.5% (Jun 2022→Mar 2023) |

## Peers
DBO (Invesco DB Oil Fund) USD 26.87 +3.35% · USL (United States 12 Month Oil) USD 64.08 +2.38% · UGA (United States Gasoline Fund LP) USD 144.92 +1.78% · USO (United States Oil Fund) USD 169.53 +4.32% · UCO (ProShares Ultra Bloomberg Crude) USD 66.11 +3.67%

## More
Full page: https://nexqual.com/BNO · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 58.8% | ±6.5% |
| 2026-11-06 | 14 | 62.6% | ±9.8% |
| 2026-11-13 | 21 | 58.6% | ±11.2% |
| 2026-11-20 | 28 | 57.5% | ±12.7% |
| 2026-11-27 | 35 | 56.4% | ±13.9% |
| 2026-12-04 | 42 | 55.7% | ±15.0% |
| 2026-12-18 | 56 | 57.5% | ±17.9% |
| 2027-01-15 | 84 | 55.4% | ±21.1% |