AIYY vs. BWET

Last updated Jun 5, 2026

AIYY (YieldMax AI Option Income Strategy ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - AIYY is a Derivative Income fund actively managed by YieldMax, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. AIYY is actively managed, while BWET is passively managed. Over the past year, AIYY returned -58.54% vs 2014.90% for BWET. At a correlation of -0.08, they often move in opposite directions. AIYY charges 0.99%/yr vs 3.50%/yr for BWET.

Performance

AIYY vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax AI Option Income Strategy ETF (AIYY) and Breakwave Tanker Shipping ETF (BWET). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIYY achieves a -24.75% return, which is significantly lower than BWET's 990.13% return.

AIYY

• 1D: -0.65%
• 1M: 7.32%
• YTD: -24.75%
• 6M: -31.87%
• 1Y: -58.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BWET

• 1D: 11.71%
• 1M: -0.90%
• YTD: 990.13%
• 6M: 857.64%
• 1Y: 2,014.90%
• 3Y*: 145.24%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AIYY vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AIYY YieldMax AI Option Income Strategy ETF	-24.75%	-58.98%	-14.74%	-1.63%
BWET Breakwave Tanker Shipping ETF	990.13%	96.22%	-39.21%	-7.72%

Correlation

The correlation between AIYY and BWET is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (All Time) Calculated using the full available price history since Nov 29, 2023	-0.08

Return for Risk

AIYY vs. BWET — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AIYY

AIYY Risk / Return Rank: 1
AIYY Sharpe Ratio Rank: 1
AIYY Sortino Ratio Rank: 1
AIYY Omega Ratio Rank: 1
AIYY Calmar Ratio Rank: 2
AIYY Martin Ratio Rank: 3

BWET

BWET Risk / Return Rank: 99
BWET Sharpe Ratio Rank: 100
BWET Sortino Ratio Rank: 98
BWET Omega Ratio Rank: 98
BWET Calmar Ratio Rank: 100
BWET Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AIYY vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax AI Option Income Strategy ETF (AIYY) and Breakwave Tanker Shipping ETF (BWET). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AIYY	BWET	Difference
Sharpe ratio: Return per unit of total volatility	-1.09	20.67	-21.76
Sortino ratio: Return per unit of downside risk	-1.65	6.77	-8.42
Omega ratio: Gain probability vs. loss probability	0.77	1.99	-1.22
Calmar ratio: Return relative to maximum drawdown	-0.86	66.60	-67.46
Martin ratio: Return relative to average drawdown	-1.23	176.91	-178.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AIYY vs. BWET - Sharpe Ratio Comparison

The current AIYY Sharpe Ratio is -1.09, which is lower than the BWET Sharpe Ratio of 20.67. The chart below compares the historical Sharpe Ratios of AIYY and BWET, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AIYY	BWET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.09	20.67	-21.76
Sharpe Ratio (All Time) Calculated using the full available price history	-0.83	2.01	-2.84

Drawdowns

AIYY vs. BWET - Drawdown Comparison

The maximum AIYY drawdown since its inception was -79.48%, which is greater than BWET's maximum drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for AIYY and BWET.

Drawdown Indicators

	AIYY	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-79.48%	-56.90%	-22.58%
Max Drawdown (1Y) Largest decline over 1 year	-68.33%	-30.64%	-37.69%
Max Drawdown (3Y) Largest decline over 3 years	—	-56.90%	—
Current Drawdown Current decline from peak	-75.42%	-0.90%	-74.52%
Average Drawdown Average peak-to-trough decline	-41.10%	-24.06%	-17.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.79%	11.51%	+36.28%

Volatility

AIYY vs. BWET - Volatility Comparison

The current volatility for YieldMax AI Option Income Strategy ETF (AIYY) is 15.68%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 28.88%. This indicates that AIYY experiences smaller price fluctuations and is considered to be less risky than BWET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIYY	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.68%	28.88%	-13.20%
Volatility (6M) Calculated over the trailing 6-month period	39.13%	88.79%	-49.66%
Volatility (1Y) Calculated over the trailing 1-year period	53.75%	98.73%	-44.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.48%	70.70%	-20.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.48%	70.70%	-20.22%

AIYY vs. BWET - Expense Ratio Comparison

AIYY has a 0.99% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

AIYY vs. BWET - Dividend Comparison

AIYY's dividend yield for the trailing twelve months is around 164.66%, while BWET has not paid dividends to shareholders.

Position	TTM	2025	2024
AIYY YieldMax AI Option Income Strategy ETF	164.66%	168.33%	98.26%
BWET Breakwave Tanker Shipping ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AIYY and BWET in my portfolio?

AIYY and BWET have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIYY or BWET?

BWET has higher volatility (28.88%) compared to AIYY (15.68%). In terms of maximum drawdown, AIYY dropped -79.48% vs BWET's -56.90%.

Which ETF is better, AIYY or BWET?

On 1-year performance, BWET leads with 2014.90% vs -58.54% for AIYY. On fees, AIYY is cheaper at 0.99% per year. On volatility, AIYY has been the lower-risk option at 15.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIYY or BWET?

Over the 1-year period, BWET has performed better with a 2014.90% return vs -58.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIYY or BWET?

AIYY is cheaper with a 0.99% expense ratio, compared with 3.50% for BWET.

Which ETF pays a higher dividend yield, AIYY or BWET?

AIYY has the higher dividend yield at 164.66%, compared with 0.00% for BWET.

What is the main difference between AIYY and BWET?

AIYY is categorized as Derivative Income, while BWET is Commodities. They also come from different issuers: YieldMax and Amplify. Their fees differ too: 0.99% for AIYY and 3.50% for BWET.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (20.67 vs -1.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.