GKAT vs. BWET

Last updated Jun 5, 2026

GKAT (Scharf Global Opportunity ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - GKAT is a Global Equities fund managed by Scharf Investments, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. At a correlation of -0.02, they often move in opposite directions. GKAT charges 0.59%/yr vs 3.50%/yr for BWET.

Performance

GKAT vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Scharf Global Opportunity ETF (GKAT) 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, GKAT achieves a 10.13% return, which is significantly lower than BWET's 990.13% return.

GKAT

• 1D: 0.39%
• 1M: 4.18%
• YTD: 10.13%
• 6M: 13.53%
• 1Y: —
• 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)

GKAT vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025
GKAT Scharf Global Opportunity ETF	10.13%	6.04%
BWET Breakwave Tanker Shipping ETF	990.13%	50.92%

Correlation

The correlation between GKAT and BWET is -0.02, 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 (All Time) Calculated using the full available price history since Aug 26, 2025	-0.02

Return for Risk

GKAT vs. BWET — Risk / Return Rank

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

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.

GKAT vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Scharf Global Opportunity ETF (GKAT) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GKAT	BWET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	20.67	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.86	2.01	-0.15

Drawdowns

GKAT vs. BWET - Drawdown Comparison

The maximum GKAT drawdown since its inception was -10.41%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for GKAT and BWET.

Drawdown Indicators

	GKAT	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-10.41%	-56.90%	+46.49%
Max Drawdown (1Y) Largest decline over 1 year	—	-30.64%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-56.90%	—
Current Drawdown Current decline from peak	-0.59%	-0.90%	+0.31%
Average Drawdown Average peak-to-trough decline	-2.06%	-24.06%	+22.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.51%	—

Volatility

Volatility by Period

	GKAT	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	28.88%	—
Volatility (6M) Calculated over the trailing 6-month period	—	88.79%	—
Volatility (1Y) Calculated over the trailing 1-year period	11.95%	98.73%	-86.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.95%	70.70%	-58.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.95%	70.70%	-58.75%

GKAT vs. BWET - Expense Ratio Comparison

GKAT has a 0.59% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

GKAT vs. BWET - Dividend Comparison

GKAT's dividend yield for the trailing twelve months is around 0.44%, while BWET has not paid dividends to shareholders.

Position	TTM	2025
BWET Breakwave Tanker Shipping ETF	0.00%	0.00%
GKAT Scharf Global Opportunity ETF	0.44%	0.24%

Frequently Asked Questions

Can I hold both GKAT and BWET in my portfolio?

GKAT and BWET have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GKAT or BWET?

On fees, GKAT is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GKAT or BWET?

GKAT is cheaper with a 0.59% expense ratio, compared with 3.50% for BWET.

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

GKAT has the higher dividend yield at 0.44%, compared with 0.00% for BWET.

What is the main difference between GKAT and BWET?

GKAT is categorized as Global Equities, while BWET is Commodities. They also come from different issuers: Scharf Investments and Amplify. Their fees differ too: 0.59% for GKAT and 3.50% for BWET.