BWET vs. BAGY

Last updated Jun 4, 2026

BWET (Breakwave Tanker Shipping ETF) and BAGY (Amplify Bitcoin Max Income Covered Call ETF) are both exchange-traded funds - BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index, while BAGY is a Derivative Income fund actively managed by Amplify. BWET is passively managed, while BAGY is actively managed. Over the past year, BWET returned 1800.91% vs -37.04% for BAGY. At a correlation of -0.07, they often move in opposite directions. BWET charges 3.50%/yr vs 0.65%/yr for BAGY.

Performance

BWET vs. BAGY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Breakwave Tanker Shipping ETF (BWET) and Amplify Bitcoin Max Income Covered Call ETF (BAGY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BWET achieves a 875.88% return, which is significantly higher than BAGY's -21.90% return.

BWET

• 1D: 4.26%
• 1M: 9.15%
• YTD: 875.88%
• 6M: 735.56%
• 1Y: 1,800.91%
• 3Y*: 129.64%
• 5Y*: —
• 10Y*: —

BAGY

• 1D: -2.73%
• 1M: -20.28%
• YTD: -21.90%
• 6M: -24.70%
• 1Y: -37.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BWET vs. BAGY - Yearly Performance Comparison

	2026 (YTD)	2025
BWET Breakwave Tanker Shipping ETF	875.88%	68.69%
BAGY Amplify Bitcoin Max Income Covered Call ETF	-21.90%	-8.88%

Correlation

The correlation between BWET and BAGY is -0.05, 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	-0.05
Correlation (All Time) Calculated using the full available price history since Apr 30, 2025	-0.07

BWET vs. BAGY - Sectors Allocation Comparison

Sectors	BWET	BAGY
Financial Services	8.6%	26.5%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BWET vs. BAGY — Risk / Return Rank

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

BWET

BWET Risk / Return Rank: 99
BWET Sharpe Ratio Rank: 100
BWET Sortino Ratio Rank: 97
BWET Omega Ratio Rank: 97
BWET Calmar Ratio Rank: 100
BWET Martin Ratio Rank: 99

BAGY

BAGY Risk / Return Rank: 2
BAGY Sharpe Ratio Rank: 2
BAGY Sortino Ratio Rank: 2
BAGY Omega Ratio Rank: 2
BAGY Calmar Ratio Rank: 2
BAGY Martin Ratio Rank: 2

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.

BWET vs. BAGY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Breakwave Tanker Shipping ETF (BWET) and Amplify Bitcoin Max Income Covered Call ETF (BAGY). 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.

	BWET	BAGY	Difference
Sharpe ratio: Return per unit of total volatility	18.57	-0.89	+19.46
Sortino ratio: Return per unit of downside risk	6.55	-1.20	+7.75
Omega ratio: Gain probability vs. loss probability	1.96	0.86	+1.10
Calmar ratio: Return relative to maximum drawdown	59.51	-0.78	+60.29
Martin ratio: Return relative to average drawdown	158.07	-1.41	+159.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BWET vs. BAGY - Sharpe Ratio Comparison

The current BWET Sharpe Ratio is 18.57, which is higher than the BAGY Sharpe Ratio of -0.89. The chart below compares the historical Sharpe Ratios of BWET and BAGY, 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

	BWET	BAGY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	18.57	-0.89	+19.46
Sharpe Ratio (All Time) Calculated using the full available price history	1.90	-0.66	+2.55

Drawdowns

BWET vs. BAGY - Drawdown Comparison

The maximum BWET drawdown since its inception was -56.90%, which is greater than BAGY's maximum drawdown of -47.52%. Use the drawdown chart below to compare losses from any high point for BWET and BAGY.

Drawdown Indicators

	BWET	BAGY	Difference
Max Drawdown Largest peak-to-trough decline	-56.90%	-47.52%	-9.38%
Max Drawdown (1Y) Largest decline over 1 year	-30.64%	-47.52%	+16.88%
Max Drawdown (3Y) Largest decline over 3 years	-56.90%	—	—
Current Drawdown Current decline from peak	-11.29%	-45.06%	+33.77%
Average Drawdown Average peak-to-trough decline	-24.09%	-19.61%	-4.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.51%	26.28%	-14.77%

Volatility

BWET vs. BAGY - Volatility Comparison

Breakwave Tanker Shipping ETF (BWET) has a higher volatility of 33.96% compared to Amplify Bitcoin Max Income Covered Call ETF (BAGY) at 9.89%. This indicates that BWET's price experiences larger fluctuations and is considered to be riskier than BAGY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BWET	BAGY	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.96%	9.89%	+24.07%
Volatility (6M) Calculated over the trailing 6-month period	88.49%	33.39%	+55.10%
Volatility (1Y) Calculated over the trailing 1-year period	98.35%	41.93%	+56.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.45%	40.86%	+29.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.45%	40.86%	+29.59%

BWET vs. BAGY - Expense Ratio Comparison

BWET has a 3.50% expense ratio, which is higher than BAGY's 0.65% expense ratio.

Dividends

BWET vs. BAGY - Dividend Comparison

BWET has not paid dividends to shareholders, while BAGY's dividend yield for the trailing twelve months is around 58.25%.

Position	TTM	2025
BAGY Amplify Bitcoin Max Income Covered Call ETF	58.25%	30.16%
BWET Breakwave Tanker Shipping ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both BWET and BAGY in my portfolio?

BWET and BAGY have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BWET or BAGY?

BWET has higher volatility (33.96%) compared to BAGY (9.89%). In terms of maximum drawdown, BWET dropped -56.90% vs BAGY's -47.52%.

Which ETF is better, BWET or BAGY?

On 1-year performance, BWET leads with 1800.91% vs -37.04% for BAGY. On fees, BAGY is cheaper at 0.65% per year. On volatility, BAGY has been the lower-risk option at 9.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BWET or BAGY?

Over the 1-year period, BWET has performed better with a 1800.91% return vs -37.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BWET or BAGY?

BAGY is cheaper with a 0.65% expense ratio, compared with 3.50% for BWET.

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

BAGY has the higher dividend yield at 58.25%, compared with 0.00% for BWET.

What is the main difference between BWET and BAGY?

BWET is categorized as Commodities, while BAGY is Derivative Income. Their fees differ too: 3.50% for BWET and 0.65% for BAGY.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (18.57 vs -0.89), 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.