Share-split context: A forward split was recorded on Aug 29, 2013 with coefficient 2. A forward split turns each old share into multiple new shares and lowers the quoted price per share proportionally. Proportional ownership is unchanged at the split moment, so the split itself creates neither a gain nor a loss. The price-return figures in this report are already split-adjusted.

What this ETF is trying to do

The United States Brent Crude Oil Fund (BNO) is an exchange-traded fund (ETF) that tracks the price of Brent Crude Oil. Instead of buying barrels of oil, investors buy shares of this fund to get exposure to the oil market.

What the numbers show

As of October 7, 2026, the share price of BNO is $61.90. This fund has a history of share splits. Specifically, it had a "forward split" on August 29, 2013, with a coefficient of 2. In a forward split, each old share becomes multiple new shares, and the price per share drops proportionally. This change does not create a gain or a loss; it simply changes how many shares an investor owns.

Because of this split history, we look at split-adjusted returns to see how the fund performed:

• Year-to-Date (YTD): The price return and total return are both approximately 118.57%.

• One Year: The price return and total return are both approximately 107.02%.

• Three Year: The price return and total return are both approximately 110.62%.

• Five Year: The total return is approximately 184.60%.

In this case, the price return (the change in share price) and the total return (the overall return) are the same.

Income and distribution explanation

The distribution yield for BNO is 0%. There have been no distributions detected in the last 12 months. This means the fund does not currently pay out cash income to its shareholders. For new investors, it is important to remember that a high distribution yield can sometimes be misleading if the share price is falling, but BNO does not currently offer a yield.

NAV erosion explanation

"NAV erosion" happens when the underlying value of a fund's assets declines over time. StockValueFinder uses an erosion-risk score to measure this. BNO has an erosion score of 100, and the erosion severity is listed as "good." The data shows "No price erosion detected," and the severe erosion-risk flag is false.

Pros

• Strong Recent Performance: The fund has shown significant split-adjusted price returns over the last year and three years.

• Low Erosion Risk: The erosion-risk score indicates that the fund has not suffered from significant price erosion.

Cons

• No Income: This ETF does not provide cash distributions for investors seeking regular income.

• No Holdings Data: There are no specific top holdings listed in the supplied data.

Beginner takeaway

BNO is a fund for investors who want to follow the price of Brent Crude Oil. While it has seen strong price growth recently, it does not pay dividends. Investors should focus on the split-adjusted price returns rather than raw historical prices to understand its performance.