FITE vs. BWET

Last updated Jun 4, 2026

FITE (SPDR S&P Kensho Future Security ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - FITE is a Technology Equities fund tracking the S&P Kensho Future Security Index, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. Both are passively managed. Over the past 3 years, FITE returned 34.02%/yr vs 129.64%/yr for BWET. At a correlation of -0.03, they often move in opposite directions. FITE charges 0.45%/yr vs 3.50%/yr for BWET.

Performance

FITE vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Kensho Future Security ETF (FITE) 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, FITE achieves a 34.22% return, which is significantly lower than BWET's 875.88% return.

FITE

• 1D: -3.37%
• 1M: 20.06%
• YTD: 34.22%
• 6M: 37.08%
• 1Y: 62.26%
• 3Y*: 34.02%
• 5Y*: 17.63%
• 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)

FITE vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FITE SPDR S&P Kensho Future Security ETF	34.22%	27.73%	21.63%	26.73%
BWET Breakwave Tanker Shipping ETF	875.88%	96.22%	-39.21%	15.94%

Correlation

The correlation between FITE and BWET is -0.11, 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	-0.11
Correlation (3Y) Calculated over the trailing 3-year period	-0.02
Correlation (All Time) Calculated using the full available price history since May 4, 2023	-0.03

FITE vs. BWET - Sectors Allocation Comparison

Sectors	FITE	BWET
Technology	55.1%	-
Industrials	36.1%	-
Communication Services	4.3%	-
Healthcare	2.3%	-
Energy	2.0%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	8.6%
Real Estate	-	-
Utilities	-	-

Return for Risk

FITE vs. BWET — Risk / Return Rank

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

FITE

FITE Risk / Return Rank: 71
FITE Sharpe Ratio Rank: 77
FITE Sortino Ratio Rank: 70
FITE Omega Ratio Rank: 64
FITE Calmar Ratio Rank: 79
FITE Martin Ratio Rank: 65

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.

FITE vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Kensho Future Security ETF (FITE) 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.

	FITE	BWET	Difference
Sharpe ratio: Return per unit of total volatility	2.52	18.57	-16.05
Sortino ratio: Return per unit of downside risk	3.25	6.55	-3.30
Omega ratio: Gain probability vs. loss probability	1.39	1.96	-0.57
Calmar ratio: Return relative to maximum drawdown	4.08	59.51	-55.43
Martin ratio: Return relative to average drawdown	12.00	158.07	-146.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FITE vs. BWET - Sharpe Ratio Comparison

The current FITE Sharpe Ratio is 2.52, which is lower than the BWET Sharpe Ratio of 18.57. The chart below compares the historical Sharpe Ratios of FITE 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

	FITE	BWET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	18.57	-16.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	1.90	-1.12

Drawdowns

FITE vs. BWET - Drawdown Comparison

The maximum FITE drawdown since its inception was -36.90%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for FITE and BWET.

Drawdown Indicators

	FITE	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-36.90%	-56.90%	+20.00%
Max Drawdown (1Y) Largest decline over 1 year	-15.35%	-30.64%	+15.29%
Max Drawdown (3Y) Largest decline over 3 years	-22.07%	-56.90%	+34.83%
Max Drawdown (5Y) Largest decline over 5 years	-27.14%	—	—
Current Drawdown Current decline from peak	-3.37%	-11.29%	+7.92%
Average Drawdown Average peak-to-trough decline	-7.40%	-24.09%	+16.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.20%	11.51%	-6.31%

Volatility

FITE vs. BWET - Volatility Comparison

The current volatility for SPDR S&P Kensho Future Security ETF (FITE) is 8.49%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 33.96%. This indicates that FITE 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

	FITE	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.49%	33.96%	-25.47%
Volatility (6M) Calculated over the trailing 6-month period	19.90%	88.49%	-68.59%
Volatility (1Y) Calculated over the trailing 1-year period	24.82%	98.35%	-73.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.42%	70.45%	-48.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.06%	70.45%	-47.39%

FITE vs. BWET - Expense Ratio Comparison

FITE has a 0.45% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

FITE vs. BWET - Dividend Comparison

FITE's dividend yield for the trailing twelve months is around 0.15%, while BWET has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BWET Breakwave Tanker Shipping ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FITE SPDR S&P Kensho Future Security ETF	0.15%	0.23%	0.12%	0.13%	0.12%	0.92%	0.88%	0.44%	1.79%

Frequently Asked Questions

Can I hold both FITE and BWET in my portfolio?

FITE and BWET have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FITE or BWET?

BWET has higher volatility (33.96%) compared to FITE (8.49%). In terms of maximum drawdown, FITE dropped -36.90% vs BWET's -56.90%.

Which ETF is better, FITE or BWET?

On 3-year performance, BWET leads with 129.64% vs 34.02% for FITE. On fees, FITE is cheaper at 0.45% per year. On volatility, FITE has been the lower-risk option at 8.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FITE or BWET?

Over the 3-year period, BWET has performed better with a 129.64% return vs 34.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FITE or BWET?

FITE is cheaper with a 0.45% expense ratio, compared with 3.50% for BWET.

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

FITE has the higher dividend yield at 0.15%, compared with 0.00% for BWET.

What is the main difference between FITE and BWET?

FITE is categorized as Technology Equities, while BWET is Commodities. FITE tracks S&P Kensho Future Security Index, while BWET tracks Breakwave Wet Freight Futures Index. They also come from different issuers: State Street and Amplify. Their fees differ too: 0.45% for FITE and 3.50% for BWET.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (18.57 vs 2.52), 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.