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BNO

BNO - United States Brent Oil Fund LP ETF Holdings & AI Analysis

$71.39
+3.02%

United States Brent Oil Fund LP

•ETF
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FIT ANALYSIS
Required for personalization

Fund DNA

Management Fee (Expense Ratio)

1.15%High
The annual fee charged by the fund. Lower fees preserve your long-term compounding.

Fund Size (AUM)

$917.28MStandard
Total market value of assets held. Massive funds generally offer maximum liquidity and stability.

Price to NAV

+1.56%Premium
Measures if the ETF trades above (premium) or below (discount) its actual underlying asset value.

Market Sensitivity (Beta)

2.16High Volatility
Measures price correlation with the S&P 500. This fund historically experiences higher price swings than the broader market.
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This fund tracks the daily price movements of Brent crude oil by investing in near-term futures contracts. It offers investors direct exposure to global energy prices without having to physically store barrels of oil. I have synthesized my analysis of its asset composition, live market action, and macro factors to provide a comprehensive thesis. What specific areas can I detail for you?

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Pro EquitAI Research Report

“Tight global supply is currently offset by overbought technical signals and sluggish global demand.”

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BULLISH

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Generated on September 17, 2026
Reference Price: $61.71

The global energy market is currently caught in a tug-of-war between tightening physical supply and uncertain global economic growth. While geopolitical tensions and production limits keep a firm floor under global oil prices, the lingering effects of high interest rates weighing on consumer demand act as a heavy anchor.

The Bull Case

  • Ongoing production cuts by major oil-producing nations and persistent geopolitical tensions keep global energy supplies incredibly tight.
  • When inflation runs hot, physical commodities like oil historically act as a natural shock absorber for portfolios, rising in value alongside consumer prices.

The Bear Case

  • High interest rates designed to cool the economy can also crush industrial and consumer demand for energy, potentially dragging oil prices down.
  • Because this fund buys futures contracts rather than physical barrels, investors can lose money over time if future contracts cost more than current ones, a structural drag known as 'contango'.

Macro Trends & Strategy Narrow

Oil prices are hyper-sensitive to the global economic cycle and central bank policies. When interest rates are high, borrowing becomes more expensive for businesses, which can slow down manufacturing and directly reduce global energy consumption. However, as a globally traded physical necessity, Brent crude maintains deep intrinsic demand regardless of paper currency fluctuations.

Fund Risk & Structure

Comprehensive proprietary risk architecture, tracking deviation metrics, counterparty exposure breakdown, and portfolio stress testing across varied macroeconomic interest rate regimes.

Portfolio Role & Verdict

Actionable core portfolio allocation assessment, long-term capital preservation guidance, tactical duration adjustments, and benchmark suitability verdict.

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This report is based on up-to-date financial fundamentals and Wall Street projections.