CLIX vs. BWET
CLIX (ProShares Long Online/Short Stores ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - CLIX is a Long-Short fund tracking the ProShares Long Online/Short Stores Index, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. Both are passively managed. Over the past 3 years, CLIX returned 17.35%/yr vs 128.11%/yr for BWET. At a correlation of -0.02, they often move in opposite directions. CLIX charges 0.65%/yr vs 3.50%/yr for BWET.
Performance
CLIX vs. BWET - Performance Comparison
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Returns By Period
In the year-to-date period, CLIX achieves a -9.21% return, which is significantly lower than BWET's 1,030.31% return.
CLIX
- 1D
- -2.78%
- 1M
- -6.17%
- YTD
- -9.21%
- 6M
- -9.14%
- 1Y
- 8.03%
- 3Y*
- 17.35%
- 5Y*
- -7.74%
- 10Y*
- —
BWET
- 1D
- 2.73%
- 1M
- 25.30%
- YTD
- 1,030.31%
- 6M
- 892.97%
- 1Y
- 1,640.62%
- 3Y*
- 128.11%
- 5Y*
- —
- 10Y*
- —
CLIX vs. BWET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CLIX ProShares Long Online/Short Stores ETF | -9.21% | 32.81% | 20.73% | 26.99% |
BWET Breakwave Tanker Shipping ETF | 1,030.31% | 96.22% | -39.21% | 14.13% |
Correlation
The correlation between CLIX and BWET 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 | -0.03 |
Correlation (All Time) Calculated using the full available price history since May 3, 2023 | -0.02 |
The correlation between CLIX and BWET shifts across timeframes, from -0.16 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CLIX vs. BWET — Risk / Return Rank
CLIX
BWET
CLIX vs. BWET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Long Online/Short Stores ETF (CLIX) and Breakwave Tanker Shipping ETF (BWET). 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.
| CLIX | BWET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -16.51 | ||
| Sortino ratioReturn per unit of downside risk | -5.71 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.92 | -0.84 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 54.19 | -53.78 |
| Martin ratioReturn relative to average drawdown | 1.06 | 142.88 | -141.82 |
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Drawdowns
CLIX vs. BWET - Drawdown Comparison
The maximum CLIX drawdown since its inception was -73.21%, which is greater than BWET's maximum drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for CLIX and BWET.
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Drawdown Indicators
| CLIX | BWET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.21% | -56.90% | -16.31% |
Max Drawdown (1Y)Largest decline over 1 year | -19.57% | -30.64% | +11.07% |
Max Drawdown (3Y)Largest decline over 3 years | -21.18% | -56.81% | +35.63% |
Max Drawdown (5Y)Largest decline over 5 years | -68.22% | — | — |
Current DrawdownCurrent decline from peak | -46.37% | 0.00% | -46.37% |
Average DrawdownAverage peak-to-trough decline | -34.75% | -23.78% | -10.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.57% | 11.60% | -4.03% |
Volatility
CLIX vs. BWET - Volatility Comparison
The current volatility for ProShares Long Online/Short Stores ETF (CLIX) is 6.59%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 25.51%. This indicates that CLIX experiences smaller price fluctuations and is considered to be less risky than BWET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CLIX | BWET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.59% | 25.51% | -18.92% |
Volatility (6M)Calculated over the trailing 6-month period | 16.36% | 88.96% | -72.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.50% | 98.53% | -77.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.05% | 70.43% | -43.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.92% | 70.43% | -44.51% |
CLIX vs. BWET - Expense Ratio Comparison
CLIX has a 0.65% expense ratio, which is lower than BWET's 3.50% expense ratio.
Dividends
CLIX vs. BWET - Dividend Comparison
CLIX's dividend yield for the trailing twelve months is around 0.59%, while BWET has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BWET Breakwave Tanker Shipping ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CLIX ProShares Long Online/Short Stores ETF | 0.59% | 0.46% | 0.46% | 0.00% | 0.00% | 0.00% | 1.33% |
Frequently Asked Questions
CLIX and BWET 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 CLIX (6.59%). In terms of maximum drawdown, CLIX dropped -73.21% vs BWET's -56.90%.
On 3-year performance, BWET leads with 128.11% vs 17.35% for CLIX. On fees, CLIX is cheaper at 0.65% per year. On volatility, CLIX has been the lower-risk option at 6.59%. 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 17.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CLIX is cheaper with a 0.65% expense ratio, compared with 3.50% for BWET.
CLIX has the higher dividend yield at 0.59%, compared with 0.00% for BWET.
CLIX is categorized as Long-Short, while BWET is Commodities. CLIX tracks ProShares Long Online/Short Stores Index, while BWET tracks Breakwave Wet Freight Futures Index. They also come from different issuers: ProShares and Amplify. Their fees differ too: 0.65% for CLIX and 3.50% for BWET.
BWET currently has the higher Sharpe Ratio (16.89 vs 0.38), 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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