BWET vs. GEL
BWET (Breakwave Tanker Shipping ETF) is Commodities fund tracking the Breakwave Wet Freight Futures Index, while GEL (Genesis Energy, L.P.) is a stock. Over the past 3 years, BWET returned 135.18%/yr vs 29.11%/yr for GEL. Their 0.03 correlation means their historical movements had little consistent relationship.
Performance
BWET vs. GEL - Performance Comparison
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Returns By Period
In the year-to-date period, BWET achieves a 1,246.34% return, which is significantly higher than GEL's 2.41% return.
BWET
- 1D
- -3.40%
- 1M
- 52.08%
- 6M
- 619.27%
- YTD
- 1,246.34%
- 1Y
- 2,150.47%
- 3Y*
- 135.18%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 144.54%
GEL
- 1D
- 0.85%
- 1M
- 10.17%
- 6M
- -3.54%
- YTD
- 2.41%
- 1Y
- -5.15%
- 3Y*
- 29.11%
- 5Y*
- 17.56%
- 10Y*
- -0.88%
- ALL TIME*
- 7.17%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $45.42M | $38.94M | $29.75M | |
| $2.90M | $2.80M | $4.64M |
BWET vs. GEL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BWET Breakwave Tanker Shipping ETF | 1,246.34% | 96.22% | -39.21% | 14.13% |
GEL Genesis Energy, L.P. | 2.41% | 61.77% | -8.37% | 12.46% |
Correlation
The correlation between BWET and GEL is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.06 |
Correlation (3Y) Balances recent behavior with more history. | 0.03 |
Correlation (All Time) Calculated using the full available price history since May 3, 2023 | 0.03 |
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Return for Risk
BWET vs. GEL — Risk / Return Rank
BWET
GEL
BWET vs. GEL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Breakwave Tanker Shipping ETF (BWET) and Genesis Energy, L.P. (GEL). 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 | GEL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +20.37 | ||
| Sortino ratioReturn per unit of downside risk | +6.44 | ||
| Omega ratioGain probability vs. loss probability | 1.91 | 0.99 | +0.92 |
| Calmar ratioReturn relative to maximum drawdown | 52.86 | -0.21 | +53.07 |
| Martin ratioReturn relative to average drawdown | 198.46 | -0.49 | +198.95 |
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Drawdowns
BWET vs. GEL - Drawdown Comparison
The maximum BWET drawdown since its inception was -56.90%, smaller than the maximum GEL drawdown of -91.63%. Use the drawdown chart below to compare losses from any high point for BWET and GEL.
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Drawdown Indicators
| BWET | GEL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.90% | -91.63% | +34.73% |
Max Drawdown (1Y)Largest decline over 1 year | -41.22% | -24.19% | -17.03% |
Max Drawdown (3Y)Largest decline over 3 years | -56.81% | -31.46% | -25.35% |
Max Drawdown (5Y)Largest decline over 5 years | — | -38.79% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.32% | — |
Current DrawdownCurrent decline from peak | -3.40% | -36.09% | +32.69% |
Average DrawdownAverage peak-to-trough decline | -23.38% | -34.17% | +10.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.96% | 10.44% | +0.52% |
Volatility
BWET vs. GEL - Volatility Comparison
Breakwave Tanker Shipping ETF (BWET) has a higher volatility of 31.04% compared to Genesis Energy, L.P. (GEL) at 8.09%. This indicates that BWET's price experiences larger fluctuations and is considered to be riskier than GEL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BWET | GEL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 31.04% | 8.09% | +22.95% |
Volatility (6M)Calculated over the trailing 6-month period | 95.74% | 18.43% | +77.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 108.15% | 27.42% | +80.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.45% | 40.79% | +33.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 74.45% | 51.19% | +23.26% |
Dividends
BWET vs. GEL - Dividend Comparison
BWET has not paid dividends to shareholders, while GEL's dividend yield for the trailing twelve months is around 4.70%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BWET Breakwave Tanker Shipping ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GEL Genesis Energy, L.P. | 4.70% | 4.23% | 6.08% | 5.18% | 5.88% | 5.60% | 16.10% | 10.74% | 11.37% | 11.87% | 7.54% | 6.72% |
Frequently Asked Questions
BWET and GEL have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BWET has higher volatility (31.04%) compared to GEL (8.09%). In terms of maximum drawdown, BWET dropped -56.90% vs GEL's -91.63%.
BWET currently has the higher Sharpe Ratio (20.19 vs -0.19), 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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