EFFE vs. BWET

Last updated Jun 24, 2026

EFFE (Harbor Osmosis Emerging Markets Resource Efficient ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - EFFE is a Emerging Markets Diversified fund actively managed by Harbor, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. EFFE is actively managed, while BWET is passively managed. Over the past year, EFFE returned 30.19% vs 1424.52% for BWET. At a correlation of -0.07, they often move in opposite directions. EFFE charges 0.69%/yr vs 3.50%/yr for BWET.

Performance

EFFE vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Osmosis Emerging Markets Resource Efficient ETF (EFFE) 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, EFFE achieves a 17.73% return, which is significantly lower than BWET's 968.33% return.

EFFE

• 1D: -5.58%
• 1M: 0.23%
• YTD: 17.73%
• 6M: 18.02%
• 1Y: 30.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BWET

• 1D: -5.48%
• 1M: 18.43%
• YTD: 968.33%
• 6M: 944.72%
• 1Y: 1,424.52%
• 3Y*: 123.86%
• 5Y*: —
• 10Y*: —

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

EFFE vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EFFE Harbor Osmosis Emerging Markets Resource Efficient ETF	17.73%	22.42%	-0.84%
BWET Breakwave Tanker Shipping ETF	968.33%	96.22%	-2.60%

Correlation

The correlation between EFFE and BWET is -0.08, 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	-0.08
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024	-0.07

Return for Risk

EFFE vs. BWET — Risk / Return Rank

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

EFFE

EFFE Risk / Return Rank: 45
EFFE Sharpe Ratio Rank: 42
EFFE Sortino Ratio Rank: 38
EFFE Omega Ratio Rank: 44
EFFE Calmar Ratio Rank: 49
EFFE Martin Ratio Rank: 51

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.

EFFE vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Osmosis Emerging Markets Resource Efficient ETF (EFFE) 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.

	EFFE	BWET	Difference
Sharpe ratio: Return per unit of total volatility	1.34	14.65	-13.32
Sortino ratio: Return per unit of downside risk	1.83	6.07	-4.24
Omega ratio: Gain probability vs. loss probability	1.26	1.87	-0.61
Calmar ratio: Return relative to maximum drawdown	2.21	47.03	-44.83
Martin ratio: Return relative to average drawdown	7.90	147.28	-139.38

EFFE vs. BWET - Sharpe Ratio Comparison

The current EFFE Sharpe Ratio is 1.34, which is lower than the BWET Sharpe Ratio of 14.65. The chart below compares the historical Sharpe Ratios of EFFE 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.

Drawdowns

EFFE vs. BWET - Drawdown Comparison

The maximum EFFE drawdown since its inception was -13.75%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for EFFE and BWET.

Drawdown Indicators

	EFFE	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-13.75%	-56.90%	+43.15%
Max Drawdown (1Y) Largest decline over 1 year	-13.75%	-30.64%	+16.89%
Max Drawdown (3Y) Largest decline over 3 years	—	-56.81%	—
Current Drawdown Current decline from peak	-9.05%	-5.48%	-3.57%
Average Drawdown Average peak-to-trough decline	-2.12%	-23.76%	+21.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.83%	11.60%	-7.77%

Volatility

EFFE vs. BWET - Volatility Comparison

The current volatility for Harbor Osmosis Emerging Markets Resource Efficient ETF (EFFE) is 12.74%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 26.27%. This indicates that EFFE 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

	EFFE	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.74%	26.27%	-13.53%
Volatility (6M) Calculated over the trailing 6-month period	20.67%	89.01%	-68.34%
Volatility (1Y) Calculated over the trailing 1-year period	22.67%	98.57%	-75.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.46%	70.47%	-49.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.46%	70.47%	-49.01%

EFFE vs. BWET - Expense Ratio Comparison

EFFE has a 0.69% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

EFFE vs. BWET - Dividend Comparison

EFFE's dividend yield for the trailing twelve months is around 3.99%, while BWET has not paid dividends to shareholders.

Position	TTM	2025
BWET Breakwave Tanker Shipping ETF	0.00%	0.00%
EFFE Harbor Osmosis Emerging Markets Resource Efficient ETF	3.99%	4.69%

Frequently Asked Questions

Can I hold both EFFE and BWET in my portfolio?

EFFE and BWET have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EFFE or BWET?

BWET has higher volatility (26.27%) compared to EFFE (12.74%). In terms of maximum drawdown, EFFE dropped -13.75% vs BWET's -56.90%.

Which ETF is better, EFFE or BWET?

On 1-year performance, BWET leads with 1424.52% vs 30.19% for EFFE. On fees, EFFE is cheaper at 0.69% per year. On volatility, EFFE has been the lower-risk option at 12.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EFFE or BWET?

Over the 1-year period, BWET has performed better with a 1424.52% return vs 30.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EFFE or BWET?

EFFE is cheaper with a 0.69% expense ratio, compared with 3.50% for BWET.

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

EFFE has the higher dividend yield at 3.99%, compared with 0.00% for BWET.

What is the main difference between EFFE and BWET?

EFFE is categorized as Emerging Markets Diversified, while BWET is Commodities. They also come from different issuers: Harbor and Amplify. Their fees differ too: 0.69% for EFFE and 3.50% for BWET.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (14.65 vs 1.34), 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.