GIND vs. BWET

Last updated Jun 4, 2026

GIND (Goldman Sachs India Equity ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - GIND is a Asia Pacific Equities fund actively managed by Goldman Sachs, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. GIND is actively managed, while BWET is passively managed. Over the past year, GIND returned -13.74% vs 1800.91% for BWET. At a correlation of -0.17, they often move in opposite directions. GIND charges 0.75%/yr vs 3.50%/yr for BWET.

Performance

GIND vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs India Equity ETF (GIND) 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, GIND achieves a -12.46% return, which is significantly lower than BWET's 875.88% return.

GIND

• 1D: -1.57%
• 1M: -2.39%
• YTD: -12.46%
• 6M: -11.52%
• 1Y: -13.74%
• 3Y*: —
• 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)

GIND vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025
GIND Goldman Sachs India Equity ETF	-12.46%	4.55%
BWET Breakwave Tanker Shipping ETF	875.88%	79.62%

Correlation

The correlation between GIND and BWET is -0.20, 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	-0.20
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025	-0.17

GIND vs. BWET - Sectors Allocation Comparison

Sectors	GIND	BWET
Financial Services	28.9%	8.6%
Consumer Cyclical	15.9%	-
Industrials	10.7%	-
Basic Materials	9.2%	-
Technology	9.0%	-
Healthcare	8.8%	-
Consumer Defensive	5.7%	-
Energy	4.1%	-
Utilities	2.9%	-
Communication Services	2.8%	-
Real Estate	2.2%	-

Return for Risk

GIND vs. BWET — Risk / Return Rank

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

GIND

GIND Risk / Return Rank: 3
GIND Sharpe Ratio Rank: 2
GIND Sortino Ratio Rank: 3
GIND Omega Ratio Rank: 3
GIND Calmar Ratio Rank: 4
GIND Martin Ratio Rank: 1

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.

GIND vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs India Equity ETF (GIND) 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.

	GIND	BWET	Difference
Sharpe ratio: Return per unit of total volatility	-0.85	18.57	-19.42
Sortino ratio: Return per unit of downside risk	-1.18	6.55	-7.74
Omega ratio: Gain probability vs. loss probability	0.87	1.96	-1.09
Calmar ratio: Return relative to maximum drawdown	-0.60	59.51	-60.11
Martin ratio: Return relative to average drawdown	-1.45	158.07	-159.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GIND vs. BWET - Sharpe Ratio Comparison

The current GIND Sharpe Ratio is -0.85, which is lower than the BWET Sharpe Ratio of 18.57. The chart below compares the historical Sharpe Ratios of GIND 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

	GIND	BWET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.85	18.57	-19.42
Sharpe Ratio (All Time) Calculated using the full available price history	-0.43	1.90	-2.33

Drawdowns

GIND vs. BWET - Drawdown Comparison

The maximum GIND drawdown since its inception was -22.97%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for GIND and BWET.

Drawdown Indicators

	GIND	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-22.97%	-56.90%	+33.93%
Max Drawdown (1Y) Largest decline over 1 year	-22.97%	-30.64%	+7.67%
Max Drawdown (3Y) Largest decline over 3 years	—	-56.90%	—
Current Drawdown Current decline from peak	-17.00%	-11.29%	-5.71%
Average Drawdown Average peak-to-trough decline	-6.85%	-24.09%	+17.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.52%	11.51%	-1.99%

Volatility

GIND vs. BWET - Volatility Comparison

The current volatility for Goldman Sachs India Equity ETF (GIND) is 5.81%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 33.96%. This indicates that GIND 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

	GIND	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.81%	33.96%	-28.15%
Volatility (6M) Calculated over the trailing 6-month period	14.04%	88.49%	-74.45%
Volatility (1Y) Calculated over the trailing 1-year period	16.24%	98.35%	-82.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.14%	70.45%	-53.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.14%	70.45%	-53.31%

GIND vs. BWET - Expense Ratio Comparison

GIND has a 0.75% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

GIND vs. BWET - Dividend Comparison

Neither GIND nor BWET has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GIND and BWET in my portfolio?

GIND and BWET have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GIND or BWET?

BWET has higher volatility (33.96%) compared to GIND (5.81%). In terms of maximum drawdown, GIND dropped -22.97% vs BWET's -56.90%.

Which ETF is better, GIND or BWET?

On 1-year performance, BWET leads with 1800.91% vs -13.74% for GIND. On fees, GIND is cheaper at 0.75% per year. On volatility, GIND has been the lower-risk option at 5.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GIND or BWET?

Over the 1-year period, BWET has performed better with a 1800.91% return vs -13.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GIND or BWET?

GIND is cheaper with a 0.75% expense ratio, compared with 3.50% for BWET.

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

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

What is the main difference between GIND and BWET?

GIND is categorized as Asia Pacific Equities, while BWET is Commodities. They also come from different issuers: Goldman Sachs and Amplify. Their fees differ too: 0.75% for GIND and 3.50% for BWET.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (18.57 vs -0.85), 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.