BWET vs. BTC-USD
BWET (Breakwave Tanker Shipping ETF) is Commodities fund tracking the Breakwave Wet Freight Futures Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 3 years, BWET returned 115.31%/yr vs 36.94%/yr for BTC-USD. At a correlation of -0.01, they often move in opposite directions.
Performance
BWET vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, BWET achieves a 937.65% return, which is significantly higher than BTC-USD's -26.27% return.
BWET
- 1D
- 4.65%
- 1M
- 11.66%
- YTD
- 937.65%
- 6M
- 693.57%
- 1Y
- 1,708.23%
- 3Y*
- 115.31%
- 5Y*
- —
- 10Y*
- —
BTC-USD
- 1D
- 1.71%
- 1M
- -20.43%
- YTD
- -26.27%
- 6M
- -28.52%
- 1Y
- -39.20%
- 3Y*
- 36.94%
- 5Y*
- 9.74%
- 10Y*
- 57.23%
BWET vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BWET Breakwave Tanker Shipping ETF | 937.65% | 96.22% | -39.21% | 14.13% |
BTC-USD Bitcoin | -26.27% | -6.27% | 120.76% | 47.43% |
Correlation
The correlation between BWET and BTC-USD 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 (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since May 3, 2023 | -0.01 |
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Return for Risk
BWET vs. BTC-USD — Risk / Return Rank
BWET
BTC-USD
BWET vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Breakwave Tanker Shipping ETF (BWET) and Bitcoin (BTC-USD). 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 | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +20.49 | ||
| Sortino ratioReturn per unit of downside risk | +7.92 | ||
| Omega ratioGain probability vs. loss probability | 1.96 | 0.87 | +1.09 |
| Calmar ratioReturn relative to maximum drawdown | 63.24 | -0.77 | +64.01 |
| Martin ratioReturn relative to average drawdown | 166.97 | -1.33 | +168.30 |
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Drawdowns
BWET vs. BTC-USD - Drawdown Comparison
The maximum BWET drawdown since its inception was -56.90%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for BWET and BTC-USD.
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Drawdown Indicators
| BWET | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.90% | -85.30% | +28.40% |
Max Drawdown (1Y)Largest decline over 1 year | -30.64% | -51.21% | +20.57% |
Max Drawdown (3Y)Largest decline over 3 years | -56.90% | -51.21% | -5.69% |
Max Drawdown (5Y)Largest decline over 5 years | — | -76.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -5.67% | -48.27% | +42.60% |
Average DrawdownAverage peak-to-trough decline | -23.91% | -42.36% | +18.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.58% | 35.16% | -23.58% |
Volatility
BWET vs. BTC-USD - Volatility Comparison
Breakwave Tanker Shipping ETF (BWET) has a higher volatility of 24.78% compared to Bitcoin (BTC-USD) at 11.97%. This indicates that BWET's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BWET | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.78% | 11.97% | +12.81% |
Volatility (6M)Calculated over the trailing 6-month period | 89.08% | 34.64% | +54.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 99.02% | 35.59% | +63.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.53% | 44.57% | +25.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.53% | 56.61% | +13.92% |
Frequently Asked Questions
BWET and BTC-USD 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.
BWET has higher volatility (24.78%) compared to BTC-USD (11.97%). In terms of maximum drawdown, BWET dropped -56.90% vs BTC-USD's -85.30%.
BWET currently has the higher Sharpe Ratio (19.57 vs -0.92), 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.
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