Tanker fund shares fell 24.6%, and Thursday's discount hit 15.6%

Shareholders in DBWET, a fund that holds futures on the cost of shipping crude by tanker, lost 24.6% on the share price in the week ending Friday, September 25, 2026. From Monday to Thursday, the portfolio fell much less. The shares had closed the prior Friday at a 52-week high of $872.14 and finished this Friday at $657.64. They are still up 3,315% since the end of 2025.

On Monday, Amplify reported a net asset value of $829.12, and the shares closed at $834, 0.59% above it. Net asset value is the per-share value of what the fund owns. By Thursday net asset value was $810.81, down 2.2% from Monday, while the shares had fallen to $684.29. On Tuesday the shares fell 18.2%. Amplify said net asset value fell 12.11% that day, to $728.75, and the shares closed 6.41% below it. On Thursday net asset value rose 10.69% and the share price fell 7.45%. The close was a discount of 15.6%. About a third of the fund is cash, and the fund also holds a government money-market fund, so the net asset value is the whole portfolio, not the tanker futures alone.

The rest of the ranking

The ranking leaves out leveraged and inverse funds, funds too small to include, and a First Trust buffer fund quoted up from a starting price of 7 cents. Returns include any payout. The broad market's week was small. ASPY, a fund that holds the S&P 500, gained 1.3%. AQQQ, a fund that holds the Nasdaq-100, gained 3.3%. AIWM, a fund that holds smaller U.S. stocks, fell 0.7%.

BMRNY sells call options on Moderna. Selling one brings in cash now and gives up part of a sharp rise, and the fund pays that cash out weekly. A holder earned 23.0%, counting the payout. The share price rose 21.0%. The fund paid $0.64 a share, with Thursday as the cutoff.

Moderna itself rose 29.1%, to $198.88, and finished 1.9% under its 52-week high. On Monday the company said three abstracts on intismeran autogene, an experimental cancer treatment it is developing with Merck, had been accepted for the European Society for Medical Oncology congress in Madrid. A Phase 3 melanoma study is set for a Presidential Symposium on October 24. The stock rose 12.3% that day. On Wednesday, at a Bernstein healthcare forum, chief executive Stéphane Bancel said Moderna "has never been a COVID-19 vaccine company" and "has been, since day one, an mRNA platform company." The fund's gain trailed the stock, because the calls give up part of a move this sharp.

Funds that hold XRP finished between 11.4% and 12.1%, and Chainlink funds finished between 11.9% and 12.4%, the same move in several funds. BIBIT, a fund that holds bitcoin, rose 3.4%. DHBR holds HBAR, the token of the Hedera network.

CSBIO holds smaller biotech companies with a drug still in mid- or late-stage trials. It fell 7.5%. It was higher on Monday and Tuesday, then fell from Wednesday through Friday, and the loss ran across the fund rather than through one company. AXBI, a fund that holds biotech companies of many sizes, fell 1.1%. Moderna is about 2% of it.

BUSO, a fund that holds near-term oil futures, fell 3.6% on the week, a much smaller move than the tanker shares. Those shares fell again on Friday, to $657.64. The fund traded at a discount on 148 days in 2025, so a discount is ordinary for it, but Thursday's gap was far outside its 0.61% median bid-ask spread.