CLOU vs. BWET

Last updated Jun 3, 2026

CLOU (Global X Cloud Computing ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - CLOU is a Technology Equities fund tracking the Indxx Global Cloud Computing Index, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. Both are passively managed. Over the past 3 years, CLOU returned 10.56%/yr vs 126.47%/yr for BWET. At a correlation of -0.05, they often move in opposite directions. CLOU charges 0.68%/yr vs 3.50%/yr for BWET.

Performance

CLOU vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Cloud Computing ETF (CLOU) and Breakwave Tanker Shipping ETF (BWET). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLOU achieves a 13.35% return, which is significantly lower than BWET's 835.99% return.

CLOU

• 1D: -2.81%
• 1M: 21.81%
• YTD: 13.35%
• 6M: 13.05%
• 1Y: 11.58%
• 3Y*: 10.56%
• 5Y*: 0.30%
• 10Y*: —

BWET

• 1D: 8.73%
• 1M: 3.52%
• YTD: 835.99%
• 6M: 698.56%
• 1Y: 1,645.55%
• 3Y*: 126.47%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CLOU vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CLOU Global X Cloud Computing ETF	13.35%	-5.59%	5.74%	41.27%
BWET Breakwave Tanker Shipping ETF	835.99%	96.22%	-39.21%	15.94%

Correlation

The correlation between CLOU and BWET is -0.12, 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	-0.12
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (All Time) Calculated using the full available price history since May 4, 2023	-0.05

CLOU vs. BWET - Sectors Allocation Comparison

Sectors	CLOU	BWET
Technology	85.3%	-
Real Estate	5.6%	-
Communication Services	5.5%	-
Consumer Cyclical	3.0%	-
Healthcare	0.6%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	8.6%
Industrials	-	-
Utilities	-	-

Return for Risk

CLOU vs. BWET — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CLOU

CLOU Risk / Return Rank: 15
CLOU Sharpe Ratio Rank: 15
CLOU Sortino Ratio Rank: 16
CLOU Omega Ratio Rank: 16
CLOU Calmar Ratio Rank: 14
CLOU Martin Ratio Rank: 13

BWET

BWET Risk / Return Rank: 98
BWET Sharpe Ratio Rank: 100
BWET Sortino Ratio Rank: 97
BWET Omega Ratio Rank: 97
BWET Calmar Ratio Rank: 99
BWET Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CLOU vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Cloud Computing ETF (CLOU) 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.

	CLOU	BWET	Difference
Sharpe ratio Return per unit of total volatility	0.40	16.94	-16.55
Sortino ratio Return per unit of downside risk	0.75	6.37	-5.62
Omega ratio Gain probability vs. loss probability	1.09	1.93	-0.83
Calmar ratio Return relative to maximum drawdown	0.44	51.48	-51.04
Martin ratio Return relative to average drawdown	1.09	137.13	-136.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLOU vs. BWET - Sharpe Ratio Comparison

The current CLOU Sharpe Ratio is 0.40, which is lower than the BWET Sharpe Ratio of 16.94. The chart below compares the historical Sharpe Ratios of CLOU and BWET, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CLOU	BWET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.40	16.94	-16.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	1.86	-1.59

Drawdowns

CLOU vs. BWET - Drawdown Comparison

The maximum CLOU drawdown since its inception was -53.74%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for CLOU and BWET.

Drawdown Indicators

	CLOU	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-53.74%	-56.90%	+3.16%
Max Drawdown (1Y) Largest decline over 1 year	-27.24%	-30.64%	+3.40%
Max Drawdown (3Y) Largest decline over 3 years	-33.18%	-56.90%	+23.72%
Max Drawdown (5Y) Largest decline over 5 years	-53.74%	—	—
Current Drawdown Current decline from peak	-18.82%	-14.91%	-3.91%
Average Drawdown Average peak-to-trough decline	-24.42%	-24.10%	-0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.01%	11.50%	-0.49%

Volatility

CLOU vs. BWET - Volatility Comparison

The current volatility for Global X Cloud Computing ETF (CLOU) is 13.10%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 33.76%. This indicates that CLOU 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.

Volatility by Period

	CLOU	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.10%	33.76%	-20.66%
Volatility (6M) Calculated over the trailing 6-month period	24.52%	88.46%	-63.94%
Volatility (1Y) Calculated over the trailing 1-year period	29.26%	98.44%	-69.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.53%	70.46%	-39.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.77%	70.46%	-39.69%

CLOU vs. BWET - Expense Ratio Comparison

CLOU has a 0.68% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

CLOU vs. BWET - Dividend Comparison

Neither CLOU nor BWET has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BWET Breakwave Tanker Shipping ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CLOU Global X Cloud Computing ETF	0.00%	0.00%	0.00%	0.00%	0.00%	1.76%	0.00%	0.05%

Frequently Asked Questions

Can I hold both CLOU and BWET in my portfolio?

CLOU and BWET have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLOU or BWET?

BWET has higher volatility (33.76%) compared to CLOU (13.10%). In terms of maximum drawdown, CLOU dropped -53.74% vs BWET's -56.90%.

Which ETF is better, CLOU or BWET?

On 3-year performance, BWET leads with 126.47% vs 10.56% for CLOU. On fees, CLOU is cheaper at 0.68% per year. On volatility, CLOU has been the lower-risk option at 13.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CLOU or BWET?

Over the 3-year period, BWET has performed better with a 126.47% return vs 10.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLOU or BWET?

CLOU is cheaper with a 0.68% expense ratio, compared with 3.50% for BWET.

Which ETF pays a higher dividend yield, CLOU or BWET?

CLOU and BWET have nearly identical dividend yields, around 0.00%.

What is the main difference between CLOU and BWET?

CLOU is categorized as Technology Equities, while BWET is Commodities. CLOU tracks Indxx Global Cloud Computing Index, while BWET tracks Breakwave Wet Freight Futures Index. They also come from different issuers: Global X and Amplify. Their fees differ too: 0.68% for CLOU and 3.50% for BWET.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (16.94 vs 0.40), 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.