BWET vs. BRNT.L
BWET (Breakwave Tanker Shipping ETF) and BRNT.L (WisdomTree Brent Crude Oil) are both exchange-traded funds - BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index, while BRNT.L is a Oil & Gas fund tracking the Bloomberg Brent Crude Subindex. Both are passively managed. Over the past 3 years, BWET returned 115.31%/yr vs 23.07%/yr for BRNT.L. At a 0.08 correlation, their price movements are largely independent. BWET charges 3.50%/yr vs 0.49%/yr for BRNT.L.
Performance
BWET vs. BRNT.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BWET achieves a 937.65% return, which is significantly higher than BRNT.L's 67.54% return.
BWET
- 1D
- 4.65%
- 1M
- 11.66%
- YTD
- 937.65%
- 6M
- 693.57%
- 1Y
- 1,708.23%
- 3Y*
- 115.31%
- 5Y*
- —
- 10Y*
- —
BRNT.L
- 1D
- -6.20%
- 1M
- -11.06%
- YTD
- 67.54%
- 6M
- 70.28%
- 1Y
- 52.42%
- 3Y*
- 23.07%
- 5Y*
- 21.42%
- 10Y*
- 12.92%
BWET vs. BRNT.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BWET Breakwave Tanker Shipping ETF | 937.65% | 96.22% | -39.21% | 14.13% |
BRNT.L WisdomTree Brent Crude Oil | 67.54% | -6.34% | 7.45% | 9.13% |
Correlation
The correlation between BWET and BRNT.L is 0.10, 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 | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since May 3, 2023 | 0.08 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BWET vs. BRNT.L — Risk / Return Rank
BWET
BRNT.L
BWET vs. BRNT.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Breakwave Tanker Shipping ETF (BWET) and WisdomTree Brent Crude Oil (BRNT.L). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BWET | BRNT.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +18.17 | ||
| Sortino ratioReturn per unit of downside risk | +4.79 | ||
| Omega ratioGain probability vs. loss probability | 1.96 | 1.27 | +0.69 |
| Calmar ratioReturn relative to maximum drawdown | 63.24 | 3.20 | +60.04 |
| Martin ratioReturn relative to average drawdown | 166.97 | 5.88 | +161.09 |
Loading charts...
Drawdowns
BWET vs. BRNT.L - Drawdown Comparison
The maximum BWET drawdown since its inception was -56.90%, smaller than the maximum BRNT.L drawdown of -86.06%. Use the drawdown chart below to compare losses from any high point for BWET and BRNT.L.
Loading charts...
Drawdown Indicators
| BWET | BRNT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.90% | -86.06% | +29.16% |
Max Drawdown (1Y)Largest decline over 1 year | -30.64% | -18.66% | -11.98% |
Max Drawdown (3Y)Largest decline over 3 years | -56.90% | -24.88% | -32.02% |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.44% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -71.92% | — |
Current DrawdownCurrent decline from peak | -5.67% | -15.93% | +10.26% |
Average DrawdownAverage peak-to-trough decline | -23.91% | -43.87% | +19.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.58% | 10.19% | +1.39% |
Volatility
BWET vs. BRNT.L - Volatility Comparison
Breakwave Tanker Shipping ETF (BWET) has a higher volatility of 24.78% compared to WisdomTree Brent Crude Oil (BRNT.L) at 13.34%. This indicates that BWET's price experiences larger fluctuations and is considered to be riskier than BRNT.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BWET | BRNT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.78% | 13.34% | +11.44% |
Volatility (6M)Calculated over the trailing 6-month period | 89.08% | 37.75% | +51.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 99.02% | 42.73% | +56.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.53% | 34.88% | +35.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.53% | 35.25% | +35.28% |
BWET vs. BRNT.L - Expense Ratio Comparison
BWET has a 3.50% expense ratio, which is higher than BRNT.L's 0.49% expense ratio.
Dividends
BWET vs. BRNT.L - Dividend Comparison
Neither BWET nor BRNT.L has paid dividends to shareholders.
Frequently Asked Questions
BWET and BRNT.L have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
BRNT.L is cheaper with a 0.49% expense ratio, compared with 3.50% for BWET.
BWET is categorized as Commodities, while BRNT.L is Oil & Gas. BWET tracks Breakwave Wet Freight Futures Index, while BRNT.L tracks Bloomberg Brent Crude Subindex. They also come from different issuers: Amplify and WisdomTree. Their fees differ too: 3.50% for BWET and 0.49% for BRNT.L.
Find the right allocation for BWET and BRNT.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer