ETU vs. BWET

Last updated Jun 5, 2026

ETU (T-Rex 2X Long Ether Daily Target ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - ETU is a Leveraged Cryptocurrency fund actively managed by REX Shares, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. ETU is actively managed, while BWET is passively managed. Over the past year, ETU returned -75.56% vs 2014.90% for BWET. At a correlation of -0.06, they often move in opposite directions. ETU charges 0.95%/yr vs 3.50%/yr for BWET.

Performance

ETU vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long Ether Daily Target ETF (ETU) 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, ETU achieves a -72.00% return, which is significantly lower than BWET's 990.13% return.

ETU

• 1D: -2.42%
• 1M: -45.33%
• YTD: -72.00%
• 6M: -76.01%
• 1Y: -75.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BWET

• 1D: 11.71%
• 1M: -0.90%
• YTD: 990.13%
• 6M: 857.64%
• 1Y: 2,014.90%
• 3Y*: 145.24%
• 5Y*: —
• 10Y*: —

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

ETU vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETU T-Rex 2X Long Ether Daily Target ETF	-72.00%	-62.44%	50.47%
BWET Breakwave Tanker Shipping ETF	990.13%	96.22%	-32.48%

Correlation

The correlation between ETU 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 Oct 25, 2024	-0.06

Return for Risk

ETU vs. BWET — Risk / Return Rank

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

ETU

ETU Risk / Return Rank: 4
ETU Sharpe Ratio Rank: 4
ETU Sortino Ratio Rank: 5
ETU Omega Ratio Rank: 5
ETU Calmar Ratio Rank: 2
ETU Martin Ratio Rank: 3

BWET

BWET Risk / Return Rank: 99
BWET Sharpe Ratio Rank: 100
BWET Sortino Ratio Rank: 98
BWET Omega Ratio Rank: 98
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.

ETU vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long Ether Daily Target ETF (ETU) 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.

	ETU	BWET	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	20.67	-21.23
Sortino ratio: Return per unit of downside risk	-0.50	6.77	-7.27
Omega ratio: Gain probability vs. loss probability	0.94	1.99	-1.05
Calmar ratio: Return relative to maximum drawdown	-0.83	66.60	-67.43
Martin ratio: Return relative to average drawdown	-1.21	176.91	-178.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETU vs. BWET - Sharpe Ratio Comparison

The current ETU Sharpe Ratio is -0.56, which is lower than the BWET Sharpe Ratio of 20.67. The chart below compares the historical Sharpe Ratios of ETU 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

	ETU	BWET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.56	20.67	-21.23
Sharpe Ratio (All Time) Calculated using the full available price history	-0.47	2.01	-2.48

Drawdowns

ETU vs. BWET - Drawdown Comparison

The maximum ETU drawdown since its inception was -93.19%, which is greater than BWET's maximum drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for ETU and BWET.

Drawdown Indicators

	ETU	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-93.19%	-56.90%	-36.29%
Max Drawdown (1Y) Largest decline over 1 year	-91.69%	-30.64%	-61.05%
Max Drawdown (3Y) Largest decline over 3 years	—	-56.90%	—
Current Drawdown Current decline from peak	-93.19%	-0.90%	-92.29%
Average Drawdown Average peak-to-trough decline	-62.47%	-24.06%	-38.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	62.34%	11.51%	+50.83%

Volatility

ETU vs. BWET - Volatility Comparison

The current volatility for T-Rex 2X Long Ether Daily Target ETF (ETU) is 20.14%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 28.88%. This indicates that ETU 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

	ETU	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.14%	28.88%	-8.74%
Volatility (6M) Calculated over the trailing 6-month period	91.27%	88.79%	+2.48%
Volatility (1Y) Calculated over the trailing 1-year period	136.32%	98.73%	+37.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	145.77%	70.70%	+75.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	145.77%	70.70%	+75.07%

ETU vs. BWET - Expense Ratio Comparison

ETU has a 0.95% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

ETU vs. BWET - Dividend Comparison

ETU's dividend yield for the trailing twelve months is around 0.01%, while BWET has not paid dividends to shareholders.

Position	TTM	2025	2024
BWET Breakwave Tanker Shipping ETF	0.00%	0.00%	0.00%
ETU T-Rex 2X Long Ether Daily Target ETF	0.01%	0.00%	0.05%

Frequently Asked Questions

Can I hold both ETU and BWET in my portfolio?

ETU 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, ETU or BWET?

BWET has higher volatility (28.88%) compared to ETU (20.14%). In terms of maximum drawdown, ETU dropped -93.19% vs BWET's -56.90%.

Which ETF is better, ETU or BWET?

On 1-year performance, BWET leads with 2014.90% vs -75.56% for ETU. On fees, ETU is cheaper at 0.95% per year. On volatility, ETU has been the lower-risk option at 20.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETU or BWET?

Over the 1-year period, BWET has performed better with a 2014.90% return vs -75.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETU or BWET?

ETU is cheaper with a 0.95% expense ratio, compared with 3.50% for BWET.

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

ETU has the higher dividend yield at 0.01%, compared with 0.00% for BWET.

What is the main difference between ETU and BWET?

ETU is categorized as Leveraged Cryptocurrency, while BWET is Commodities. They also come from different issuers: REX Shares and Amplify. Their fees differ too: 0.95% for ETU and 3.50% for BWET.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (20.67 vs -0.56), 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.