Breakwave Tanker Shipping ETF
$999.00−11.00 (−1.09%)
- 3.50%
- $297M
- +6126.9%
- 0.2M sh
- $1006.39
- low $15.34high $1051.94
The ETF.net BWET Grade
D
Score 28 out of 100
- 10 of 11
Score 28 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F4 out of 100Rank 11 of 11Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C43 out of 100Rank 7 of 11Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B57 out of 100Rank 5 of 11Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C43 out of 100Rank 3 of 5Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C53 out of 100Rank 7 of 11
Our read on BWET
DMost energy funds bet on the barrel. BWET bets on the boat: it tracks an index of exchange-cleared futures tied to what it costs to ship crude oil by sea. A niche corner of the energy trade, wrapped in one ticker.
The fund seeks exposure to daily changes in tanker freight futures by tracking a portfolio of exchange-cleared futures contracts tied to the cost of shipping crude oil.
Why people hold it
- Freight, not crude. It targets tanker shipping costs, a different lever than the oil-price funds that fill its peer group (OILK, DBO, BNO).
- Rules-based exposure: it follows the Breakwave Tanker Futures Index, a defined portfolio of exchange-cleared futures rather than a trader's discretionary calls.
- The futures machinery sits inside the fund. You buy and sell it on exchange like any listed fund, in an ordinary brokerage account.
Worth knowing
- Costs 3.50% a year, multiples of what oil-futures peers charge (OILK 0.69%, DBO 0.81%). Exposure this specialized carries a premium price tag.
- It's a commodity pool, not a standard 1940 Act fund, so tax treatment and shareholder paperwork can look different from a plain stock ETF.
- A small fund pointed at one narrow freight market, and it hasn't been an income payer. Price movement is the whole story here.
BWET Holdings
- Stocks
- 14
- 98%
- Cash & Other
Sectors
- Communication100.0%
BWET Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.
BWET$622,688
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | BWET |
|---|---|
| Year to date | +5144.0% |
| 1 month | +38.9% |
| 3 months | +396.7% |
| 1 year | +6126.9% |
| 3 years | +294.7% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | BWET |
|---|---|---|
| 2026 YTD | +5144.0% | |
| 2025 | +96.1% | |
| 2024 | −39.2% | |
| 2023 | +15.9% |
BWET in the news
BWET Dividends
No distributions in the last 12 months.
BWET Risk
- 108.9%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.61
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −56.9%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 4.69
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
BWET Cost
3.50%
BWET3.50%
- The middle half of Energy Futures funds
- Median 1.01%
Every other Energy Futures fund charges less.
Other funds in Energy Futures
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- CBNOUnited States Brent Oil Fund LPExpense ratio 1.15%1 year return +128.6%
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- DUNGUnited States Natural Gas Fund LPExpense ratio 1.17%1 year return −11.4%
- FUNLUnited States 12 Month Natural Gas Fund, LPExpense ratio 1.65%1 year return −25.3%