EMET vs. BWET

Last updated Jun 4, 2026

EMET (VanEck Copper and Green Metals ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - EMET is a Commodity Producers Equities fund tracking the MVIS Global Clean-Tech Metals Index, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. Both are passively managed. Over the past 3 years, EMET returned 21.61%/yr vs 129.64%/yr for BWET. At a 0.07 correlation, their price movements are largely independent. EMET charges 0.61%/yr vs 3.50%/yr for BWET.

Performance

EMET vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Copper and Green Metals ETF (EMET) 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, EMET achieves a 24.96% return, which is significantly lower than BWET's 875.88% return.

EMET

• 1D: -3.09%
• 1M: 10.55%
• YTD: 24.96%
• 6M: 36.66%
• 1Y: 116.88%
• 3Y*: 21.61%
• 5Y*: —
• 10Y*: —

BWET

• 1D: 4.26%
• 1M: 9.15%
• YTD: 875.88%
• 6M: 735.56%
• 1Y: 1,800.91%
• 3Y*: 129.64%
• 5Y*: —
• 10Y*: —

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

EMET vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EMET VanEck Copper and Green Metals ETF	24.96%	81.22%	-12.81%	-9.39%
BWET Breakwave Tanker Shipping ETF	875.88%	96.22%	-39.21%	15.94%

Correlation

The correlation between EMET and BWET is -0.04, 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	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (All Time) Calculated using the full available price history since May 4, 2023	0.07

The correlation between EMET and BWET shifts across timeframes, from -0.04 (1 year) to 0.07 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

EMET vs. BWET — Risk / Return Rank

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

EMET

EMET Risk / Return Rank: 83
EMET Sharpe Ratio Rank: 91
EMET Sortino Ratio Rank: 78
EMET Omega Ratio Rank: 80
EMET Calmar Ratio Rank: 84
EMET Martin Ratio Rank: 80

BWET

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

EMET vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Copper and Green Metals ETF (EMET) 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.

	EMET	BWET	Difference
Sharpe ratio Return per unit of total volatility	3.27	18.57	-15.30
Sortino ratio Return per unit of downside risk	3.49	6.55	-3.06
Omega ratio Gain probability vs. loss probability	1.48	1.96	-0.49
Calmar ratio Return relative to maximum drawdown	4.60	59.51	-54.91
Martin ratio Return relative to average drawdown	15.70	158.07	-142.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMET vs. BWET - Sharpe Ratio Comparison

The current EMET Sharpe Ratio is 3.27, which is lower than the BWET Sharpe Ratio of 18.57. The chart below compares the historical Sharpe Ratios of EMET 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

	EMET	BWET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.27	18.57	-15.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	1.90	-1.65

Drawdowns

EMET vs. BWET - Drawdown Comparison

The maximum EMET drawdown since its inception was -53.05%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for EMET and BWET.

Drawdown Indicators

	EMET	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-53.05%	-56.90%	+3.85%
Max Drawdown (1Y) Largest decline over 1 year	-25.58%	-30.64%	+5.06%
Max Drawdown (3Y) Largest decline over 3 years	-40.50%	-56.90%	+16.40%
Current Drawdown Current decline from peak	-5.29%	-11.29%	+6.00%
Average Drawdown Average peak-to-trough decline	-24.83%	-24.09%	-0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.47%	11.51%	-4.04%

Volatility

EMET vs. BWET - Volatility Comparison

The current volatility for VanEck Copper and Green Metals ETF (EMET) is 12.59%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 33.96%. This indicates that EMET 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

	EMET	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.59%	33.96%	-21.37%
Volatility (6M) Calculated over the trailing 6-month period	30.81%	88.49%	-57.68%
Volatility (1Y) Calculated over the trailing 1-year period	35.96%	98.35%	-62.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.96%	70.45%	-37.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.96%	70.45%	-37.49%

EMET vs. BWET - Expense Ratio Comparison

EMET has a 0.61% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

EMET vs. BWET - Dividend Comparison

EMET's dividend yield for the trailing twelve months is around 1.47%, while BWET has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
BWET Breakwave Tanker Shipping ETF	0.00%	0.00%	0.00%	0.00%	0.00%
EMET VanEck Copper and Green Metals ETF	1.47%	1.84%	1.89%	2.02%	2.56%

Frequently Asked Questions

Can I hold both EMET and BWET in my portfolio?

EMET and BWET have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMET or BWET?

BWET has higher volatility (33.96%) compared to EMET (12.59%). In terms of maximum drawdown, EMET dropped -53.05% vs BWET's -56.90%.

Which ETF is better, EMET or BWET?

On 3-year performance, BWET leads with 129.64% vs 21.61% for EMET. On fees, EMET is cheaper at 0.61% per year. On volatility, EMET has been the lower-risk option at 12.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMET or BWET?

Over the 3-year period, BWET has performed better with a 129.64% return vs 21.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMET or BWET?

EMET is cheaper with a 0.61% expense ratio, compared with 3.50% for BWET.

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

EMET has the higher dividend yield at 1.47%, compared with 0.00% for BWET.

What is the main difference between EMET and BWET?

EMET is categorized as Commodity Producers Equities, while BWET is Commodities. EMET tracks MVIS Global Clean-Tech Metals Index, while BWET tracks Breakwave Wet Freight Futures Index. They also come from different issuers: VanEck and Amplify. Their fees differ too: 0.61% for EMET and 3.50% for BWET.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (18.57 vs 3.27), 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.