BRNT.L vs. BWET

Last updated Jun 5, 2026

BRNT.L (WisdomTree Brent Crude Oil) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - BRNT.L is a Oil & Gas fund tracking the Bloomberg Brent Crude Subindex, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. Both are passively managed. Over the past 3 years, BRNT.L returned 24.57%/yr vs 145.24%/yr for BWET. At a 0.09 correlation, their price movements are largely independent. BRNT.L charges 0.49%/yr vs 3.50%/yr for BWET.

Performance

BRNT.L vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Brent Crude Oil (BRNT.L) 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, BRNT.L achieves a 80.13% return, which is significantly lower than BWET's 990.13% return.

BRNT.L

• 1D: -2.63%
• 1M: -9.61%
• YTD: 80.13%
• 6M: 76.22%
• 1Y: 84.62%
• 3Y*: 24.57%
• 5Y*: 23.51%
• 10Y*: 13.59%

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)

BRNT.L vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BRNT.L WisdomTree Brent Crude Oil	80.13%	-6.34%	7.45%	14.84%
BWET Breakwave Tanker Shipping ETF	990.13%	96.22%	-39.21%	15.94%

Correlation

The correlation between BRNT.L and BWET is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (All Time) Calculated using the full available price history since May 4, 2023	0.09

Return for Risk

BRNT.L vs. BWET — Risk / Return Rank

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

BRNT.L

BRNT.L Risk / Return Rank: 61
BRNT.L Sharpe Ratio Rank: 60
BRNT.L Sortino Ratio Rank: 50
BRNT.L Omega Ratio Rank: 59
BRNT.L Calmar Ratio Rank: 84
BRNT.L Martin Ratio Rank: 50

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.

BRNT.L vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Brent Crude Oil (BRNT.L) 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.

	BRNT.L	BWET	Difference
Sharpe ratio: Return per unit of total volatility	2.00	20.67	-18.67
Sortino ratio: Return per unit of downside risk	2.40	6.77	-4.37
Omega ratio: Gain probability vs. loss probability	1.36	1.99	-0.64
Calmar ratio: Return relative to maximum drawdown	4.51	66.60	-62.09
Martin ratio: Return relative to average drawdown	8.41	176.91	-168.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BRNT.L vs. BWET - Sharpe Ratio Comparison

The current BRNT.L Sharpe Ratio is 2.00, which is lower than the BWET Sharpe Ratio of 20.67. The chart below compares the historical Sharpe Ratios of BRNT.L 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

	BRNT.L	BWET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	20.67	-18.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	2.01	-1.97

Drawdowns

BRNT.L vs. BWET - Drawdown Comparison

The maximum BRNT.L drawdown since its inception was -85.97%, which is greater than BWET's maximum drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for BRNT.L and BWET.

Drawdown Indicators

	BRNT.L	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-85.97%	-56.90%	-29.07%
Max Drawdown (1Y) Largest decline over 1 year	-18.66%	-30.64%	+11.98%
Max Drawdown (3Y) Largest decline over 3 years	-24.88%	-56.90%	+32.02%
Max Drawdown (5Y) Largest decline over 5 years	-31.44%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-71.94%	—	—
Current Drawdown Current decline from peak	-9.61%	-0.90%	-8.71%
Average Drawdown Average peak-to-trough decline	-48.63%	-24.06%	-24.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.02%	11.51%	-1.49%

Volatility

BRNT.L vs. BWET - Volatility Comparison

The current volatility for WisdomTree Brent Crude Oil (BRNT.L) is 15.37%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 28.88%. This indicates that BRNT.L 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

	BRNT.L	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.37%	28.88%	-13.51%
Volatility (6M) Calculated over the trailing 6-month period	36.91%	88.79%	-51.88%
Volatility (1Y) Calculated over the trailing 1-year period	42.09%	98.73%	-56.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.68%	70.70%	-36.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.36%	70.70%	-35.34%

BRNT.L vs. BWET - Expense Ratio Comparison

BRNT.L has a 0.49% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

BRNT.L vs. BWET - Dividend Comparison

Neither BRNT.L nor BWET has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BRNT.L and BWET in my portfolio?

BRNT.L and BWET have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BRNT.L or BWET?

On fees, BRNT.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BRNT.L or BWET?

BRNT.L is cheaper with a 0.49% expense ratio, compared with 3.50% for BWET.

What is the main difference between BRNT.L and BWET?

BRNT.L is categorized as Oil & Gas, while BWET is Commodities. BRNT.L tracks Bloomberg Brent Crude Subindex, while BWET tracks Breakwave Wet Freight Futures Index. They also come from different issuers: WisdomTree and Amplify. Their fees differ too: 0.49% for BRNT.L and 3.50% for BWET.