GMEU vs. BWET

Last updated Jun 5, 2026

GMEU (T-Rex 2X Long GME Daily Target ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - GMEU is a Leveraged Equities fund actively managed by T-Rex, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. GMEU is actively managed, while BWET is passively managed. Over the past year, GMEU returned -68.74% vs 1888.50% for BWET. At a correlation of -0.10, they often move in opposite directions. GMEU charges 1.50%/yr vs 3.50%/yr for BWET.

Performance

GMEU vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long GME Daily Target ETF (GMEU) 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, GMEU achieves a -0.34% return, which is significantly lower than BWET's 942.01% return.

GMEU

• 1D: 0.12%
• 1M: -18.73%
• YTD: -0.34%
• 6M: -26.25%
• 1Y: -68.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BWET

• 1D: -4.41%
• 1M: 8.17%
• YTD: 942.01%
• 6M: 777.15%
• 1Y: 1,888.50%
• 3Y*: 137.58%
• 5Y*: —
• 10Y*: —

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

GMEU vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025
GMEU T-Rex 2X Long GME Daily Target ETF	-0.34%	-65.56%
BWET Breakwave Tanker Shipping ETF	942.01%	68.69%

Correlation

The correlation between GMEU and BWET is -0.09, 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	-0.09
Correlation (All Time) Calculated using the full available price history since Apr 30, 2025	-0.10

Return for Risk

GMEU vs. BWET — Risk / Return Rank

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

GMEU

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

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.

GMEU vs. BWET - Risk-Adjusted Trends Comparison

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

	GMEU	BWET	Difference
Sharpe ratio: Return per unit of total volatility	-0.81	19.34	-20.15
Sortino ratio: Return per unit of downside risk	-1.12	6.63	-7.75
Omega ratio: Gain probability vs. loss probability	0.85	1.96	-1.12
Calmar ratio: Return relative to maximum drawdown	-0.95	62.41	-63.36
Martin ratio: Return relative to average drawdown	-1.20	165.71	-166.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GMEU vs. BWET - Sharpe Ratio Comparison

The current GMEU Sharpe Ratio is -0.81, which is lower than the BWET Sharpe Ratio of 19.34. The chart below compares the historical Sharpe Ratios of GMEU 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

	GMEU	BWET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.81	19.34	-20.15
Sharpe Ratio (All Time) Calculated using the full available price history	-0.70	1.95	-2.65

Drawdowns

GMEU vs. BWET - Drawdown Comparison

The maximum GMEU drawdown since its inception was -80.43%, which is greater than BWET's maximum drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for GMEU and BWET.

Drawdown Indicators

	GMEU	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-80.43%	-56.90%	-23.53%
Max Drawdown (1Y) Largest decline over 1 year	-72.75%	-30.64%	-42.11%
Max Drawdown (3Y) Largest decline over 3 years	—	-56.90%	—
Current Drawdown Current decline from peak	-77.91%	-5.28%	-72.63%
Average Drawdown Average peak-to-trough decline	-63.24%	-24.03%	-39.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	57.19%	11.52%	+45.67%

Volatility

GMEU vs. BWET - Volatility Comparison

The current volatility for T-Rex 2X Long GME Daily Target ETF (GMEU) is 24.54%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 25.84%. This indicates that GMEU 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

	GMEU	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.54%	25.84%	-1.30%
Volatility (6M) Calculated over the trailing 6-month period	57.61%	88.99%	-31.38%
Volatility (1Y) Calculated over the trailing 1-year period	85.15%	98.89%	-13.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.79%	70.71%	+19.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.79%	70.71%	+19.08%

GMEU vs. BWET - Expense Ratio Comparison

GMEU has a 1.50% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

GMEU vs. BWET - Dividend Comparison

Neither GMEU nor BWET has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GMEU and BWET in my portfolio?

GMEU and BWET have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GMEU or BWET?

BWET has higher volatility (25.84%) compared to GMEU (24.54%). In terms of maximum drawdown, GMEU dropped -80.43% vs BWET's -56.90%.

Which ETF is better, GMEU or BWET?

On 1-year performance, BWET leads with 1888.50% vs -68.74% for GMEU. On fees, GMEU is cheaper at 1.50% per year. On volatility, GMEU has been the lower-risk option at 24.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GMEU or BWET?

Over the 1-year period, BWET has performed better with a 1888.50% return vs -68.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GMEU or BWET?

GMEU is cheaper with a 1.50% expense ratio, compared with 3.50% for BWET.

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

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

What is the main difference between GMEU and BWET?

GMEU is categorized as Leveraged Equities, while BWET is Commodities. They also come from different issuers: T-Rex and Amplify. Their fees differ too: 1.50% for GMEU and 3.50% for BWET.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (19.34 vs -0.81), 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.