BWET vs. SVR-C.TO
BWET (Breakwave Tanker Shipping ETF) and SVR-C.TO (iShares Silver Bullion ETF (Non-Hedged)) are both exchange-traded funds - BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index, while SVR-C.TO is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 3 years, BWET returned 115.31%/yr vs 40.88%/yr for SVR-C.TO. At a 0.12 correlation, their price movements are largely independent. BWET charges 3.50%/yr vs 0.66%/yr for SVR-C.TO.
Performance
BWET vs. SVR-C.TO - Performance Comparison
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Different Trading Currencies
BWET is traded in USD, while SVR-C.TO is traded in CAD. To make them comparable, the SVR-C.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, BWET achieves a 937.65% return, which is significantly higher than SVR-C.TO's -5.49% return.
BWET
- 1D
- 4.65%
- 1M
- 11.66%
- YTD
- 937.65%
- 6M
- 693.57%
- 1Y
- 1,708.23%
- 3Y*
- 115.31%
- 5Y*
- —
- 10Y*
- —
SVR-C.TO
- 1D
- 1.13%
- 1M
- -22.70%
- YTD
- -5.49%
- 6M
- 8.59%
- 1Y
- 84.47%
- 3Y*
- 40.88%
- 5Y*
- 18.55%
- 10Y*
- 13.85%
BWET vs. SVR-C.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BWET Breakwave Tanker Shipping ETF | 937.65% | 96.22% | -39.21% | 14.13% |
SVR-C.TO iShares Silver Bullion ETF (Non-Hedged) | -5.39% | 144.05% | 20.41% | -5.44% |
Correlation
The correlation between BWET and SVR-C.TO is 0.01, 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 | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since May 3, 2023 | 0.12 |
The correlation between BWET and SVR-C.TO shifts across timeframes, from 0.01 (1 year) to 0.13 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BWET vs. SVR-C.TO — Risk / Return Rank
BWET
SVR-C.TO
BWET vs. SVR-C.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Breakwave Tanker Shipping ETF (BWET) and iShares Silver Bullion ETF (Non-Hedged) (SVR-C.TO). 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 | SVR-C.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +18.11 | ||
| Sortino ratioReturn per unit of downside risk | +4.87 | ||
| Omega ratioGain probability vs. loss probability | 1.96 | 1.29 | +0.67 |
| Calmar ratioReturn relative to maximum drawdown | 63.24 | 1.87 | +61.37 |
| Martin ratioReturn relative to average drawdown | 166.97 | 4.06 | +162.91 |
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Drawdowns
BWET vs. SVR-C.TO - Drawdown Comparison
The maximum BWET drawdown since its inception was -56.90%, smaller than the maximum SVR-C.TO drawdown of -67.24%. Use the drawdown chart below to compare losses from any high point for BWET and SVR-C.TO.
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Drawdown Indicators
| BWET | SVR-C.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.90% | -67.24% | +10.34% |
Max Drawdown (1Y)Largest decline over 1 year | -30.64% | -45.37% | +14.73% |
Max Drawdown (3Y)Largest decline over 3 years | -56.90% | -45.37% | -11.53% |
Max Drawdown (5Y)Largest decline over 5 years | — | -45.37% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.37% | — |
Current DrawdownCurrent decline from peak | -5.67% | -41.97% | +36.30% |
Average DrawdownAverage peak-to-trough decline | -23.91% | -39.98% | +16.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.58% | 20.87% | -9.29% |
Volatility
BWET vs. SVR-C.TO - Volatility Comparison
Breakwave Tanker Shipping ETF (BWET) has a higher volatility of 24.78% compared to iShares Silver Bullion ETF (Non-Hedged) (SVR-C.TO) at 15.47%. This indicates that BWET's price experiences larger fluctuations and is considered to be riskier than SVR-C.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BWET | SVR-C.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.78% | 15.47% | +9.31% |
Volatility (6M)Calculated over the trailing 6-month period | 89.08% | 56.54% | +32.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 99.02% | 58.17% | +40.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.53% | 36.41% | +34.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.53% | 32.37% | +38.16% |
BWET vs. SVR-C.TO - Expense Ratio Comparison
BWET has a 3.50% expense ratio, which is higher than SVR-C.TO's 0.66% expense ratio.
Dividends
BWET vs. SVR-C.TO - Dividend Comparison
Neither BWET nor SVR-C.TO has paid dividends to shareholders.
Frequently Asked Questions
BWET and SVR-C.TO have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SVR-C.TO is cheaper at 0.66% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SVR-C.TO is cheaper with a 0.66% expense ratio, compared with 3.50% for BWET.
BWET is categorized as Commodities, while SVR-C.TO is Silver. BWET tracks Breakwave Wet Freight Futures Index, while SVR-C.TO tracks LBMA Silver Price. They also come from different issuers: Amplify and iShares. Their fees differ too: 3.50% for BWET and 0.66% for SVR-C.TO.
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