BWET vs. MEAR
BWET (Breakwave Tanker Shipping ETF) and MEAR (iShares Short Maturity Municipal Bond ETF) are both exchange-traded funds - BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index, while MEAR is a Municipal Bonds fund actively managed by iShares. BWET is passively managed, while MEAR is actively managed. Over the past 3 years, BWET returned 128.11%/yr vs 3.47%/yr for MEAR. At a correlation of -0.06, they often move in opposite directions. BWET charges 3.50%/yr vs 0.25%/yr for MEAR.
Performance
BWET vs. MEAR - Performance Comparison
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Returns By Period
In the year-to-date period, BWET achieves a 1,030.31% return, which is significantly higher than MEAR's 1.18% return.
BWET
- 1D
- 2.73%
- 1M
- 25.30%
- YTD
- 1,030.31%
- 6M
- 892.97%
- 1Y
- 1,640.62%
- 3Y*
- 128.11%
- 5Y*
- —
- 10Y*
- —
MEAR
- 1D
- 0.06%
- 1M
- 0.39%
- YTD
- 1.18%
- 6M
- 1.24%
- 1Y
- 3.16%
- 3Y*
- 3.47%
- 5Y*
- 2.45%
- 10Y*
- 1.78%
BWET vs. MEAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BWET Breakwave Tanker Shipping ETF | 1,030.31% | 96.22% | -39.21% | 14.13% |
MEAR iShares Short Maturity Municipal Bond ETF | 1.18% | 3.76% | 3.40% | 2.76% |
Correlation
The correlation between BWET and MEAR is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since May 3, 2023 | -0.06 |
The correlation between BWET and MEAR shifts across timeframes, from -0.16 (1 year) to -0.05 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BWET vs. MEAR — Risk / Return Rank
BWET
MEAR
BWET vs. MEAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Breakwave Tanker Shipping ETF (BWET) and iShares Short Maturity Municipal Bond ETF (MEAR). 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 | MEAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +13.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.92 | 1.86 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 54.19 | 6.80 | +47.39 |
| Martin ratioReturn relative to average drawdown | 142.88 | 27.85 | +115.03 |
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Drawdowns
BWET vs. MEAR - Drawdown Comparison
The maximum BWET drawdown since its inception was -56.90%, which is greater than MEAR's maximum drawdown of -2.68%. Use the drawdown chart below to compare losses from any high point for BWET and MEAR.
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Drawdown Indicators
| BWET | MEAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.90% | -2.68% | -54.22% |
Max Drawdown (1Y)Largest decline over 1 year | -30.64% | -0.47% | -30.17% |
Max Drawdown (3Y)Largest decline over 3 years | -56.81% | -0.86% | -55.95% |
Max Drawdown (5Y)Largest decline over 5 years | — | -1.12% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -2.68% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -23.78% | -0.19% | -23.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.60% | 0.11% | +11.49% |
Volatility
BWET vs. MEAR - Volatility Comparison
Breakwave Tanker Shipping ETF (BWET) has a higher volatility of 25.51% compared to iShares Short Maturity Municipal Bond ETF (MEAR) at 0.21%. This indicates that BWET's price experiences larger fluctuations and is considered to be riskier than MEAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BWET | MEAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.51% | 0.21% | +25.30% |
Volatility (6M)Calculated over the trailing 6-month period | 88.96% | 0.61% | +88.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 98.53% | 0.86% | +97.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.43% | 0.99% | +69.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.43% | 1.51% | +68.92% |
BWET vs. MEAR - Expense Ratio Comparison
BWET has a 3.50% expense ratio, which is higher than MEAR's 0.25% expense ratio.
Dividends
BWET vs. MEAR - Dividend Comparison
BWET has not paid dividends to shareholders, while MEAR's dividend yield for the trailing twelve months is around 2.84%.
| 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% |
MEAR iShares Short Maturity Municipal Bond ETF | 2.84% | 2.95% | 3.44% | 3.30% | 0.88% | 0.30% | 0.90% | 1.57% | 1.36% | 1.01% | 0.81% | 0.53% |
Frequently Asked Questions
BWET and MEAR have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BWET has higher volatility (25.51%) compared to MEAR (0.21%). In terms of maximum drawdown, BWET dropped -56.90% vs MEAR's -2.68%.
On 3-year performance, BWET leads with 128.11% vs 3.47% for MEAR. On fees, MEAR is cheaper at 0.25% per year. On volatility, MEAR has been the lower-risk option at 0.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BWET has performed better with a 128.11% return vs 3.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MEAR is cheaper with a 0.25% expense ratio, compared with 3.50% for BWET.
MEAR has the higher dividend yield at 2.84%, compared with 0.00% for BWET.
BWET is categorized as Commodities, while MEAR is Municipal Bonds. They also come from different issuers: Amplify and iShares. Their fees differ too: 3.50% for BWET and 0.25% for MEAR.
BWET currently has the higher Sharpe Ratio (16.89 vs 3.71), 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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