IGV vs. BWET
IGV (iShares Expanded Tech-Software Sector ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - IGV is a Technology Equities fund tracking the S&P North American Expanded Technology Software Index, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. Both are passively managed. Over the past 3 years, IGV returned 8.57%/yr vs 109.03%/yr for BWET. At a correlation of -0.07, they often move in opposite directions. IGV charges 0.39%/yr vs 3.50%/yr for BWET.
Performance
IGV vs. BWET - Performance Comparison
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Returns By Period
In the year-to-date period, IGV achieves a -18.45% return, which is significantly lower than BWET's 769.73% return.
IGV
- 1D
- -1.32%
- 1M
- -8.32%
- YTD
- -18.45%
- 6M
- -20.37%
- 1Y
- -20.24%
- 3Y*
- 8.57%
- 5Y*
- 2.09%
- 10Y*
- 15.55%
BWET
- 1D
- -18.59%
- 1M
- -3.58%
- YTD
- 769.73%
- 6M
- 723.00%
- 1Y
- 1,296.25%
- 3Y*
- 109.03%
- 5Y*
- —
- 10Y*
- —
IGV vs. BWET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IGV iShares Expanded Tech-Software Sector ETF | -18.45% | 5.56% | 23.41% | 39.07% |
BWET Breakwave Tanker Shipping ETF | 769.73% | 96.22% | -39.21% | 14.13% |
Correlation
The correlation between IGV and BWET is -0.17, 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 | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since May 3, 2023 | -0.07 |
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Return for Risk
IGV vs. BWET — Risk / Return Rank
IGV
BWET
IGV vs. BWET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Expanded Tech-Software Sector ETF (IGV) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IGV | BWET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -13.89 | ||
| Sortino ratioReturn per unit of downside risk | -6.60 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.83 | -0.94 |
| Calmar ratioReturn relative to maximum drawdown | -0.55 | 42.79 | -43.34 |
| Martin ratioReturn relative to average drawdown | -1.12 | 136.82 | -137.94 |
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Drawdowns
IGV vs. BWET - Drawdown Comparison
The maximum IGV drawdown since its inception was -63.45%, which is greater than BWET's maximum drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for IGV and BWET.
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Drawdown Indicators
| IGV | BWET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.45% | -56.90% | -6.55% |
Max Drawdown (1Y)Largest decline over 1 year | -36.61% | -30.64% | -5.97% |
Max Drawdown (3Y)Largest decline over 3 years | -36.61% | -56.81% | +20.20% |
Max Drawdown (5Y)Largest decline over 5 years | -45.85% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.85% | — | — |
Current DrawdownCurrent decline from peak | -26.83% | -23.05% | -3.78% |
Average DrawdownAverage peak-to-trough decline | -14.46% | -23.76% | +9.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.02% | 9.87% | +8.15% |
Volatility
IGV vs. BWET - Volatility Comparison
The current volatility for iShares Expanded Tech-Software Sector ETF (IGV) is 12.59%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 32.83%. This indicates that IGV 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.
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Volatility by Period
| IGV | BWET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.59% | 32.83% | -20.24% |
Volatility (6M)Calculated over the trailing 6-month period | 24.83% | 91.75% | -66.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.27% | 100.33% | -72.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.97% | 71.24% | -43.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.37% | 71.24% | -44.87% |
IGV vs. BWET - Expense Ratio Comparison
IGV has a 0.39% expense ratio, which is lower than BWET's 3.50% expense ratio.
Dividends
IGV vs. BWET - Dividend Comparison
IGV's dividend yield for the trailing twelve months is around 0.02%, while BWET has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BWET Breakwave Tanker Shipping ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IGV iShares Expanded Tech-Software Sector ETF | 0.02% | 0.00% | 0.00% | 0.01% | 0.01% | 0.00% | 0.35% | 0.02% | 0.16% | 0.09% | 0.82% | 0.22% |
Frequently Asked Questions
IGV and BWET have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BWET has higher volatility (32.83%) compared to IGV (12.59%). In terms of maximum drawdown, IGV dropped -63.45% vs BWET's -56.90%.
On 3-year performance, BWET leads with 109.03% vs 8.57% for IGV. On fees, IGV is cheaper at 0.39% per year. On volatility, IGV has been the lower-risk option at 12.59%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BWET has performed better with a 109.03% return vs 8.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGV is cheaper with a 0.39% expense ratio, compared with 3.50% for BWET.
IGV has the higher dividend yield at 0.02%, compared with 0.00% for BWET.
IGV is categorized as Technology Equities, while BWET is Commodities. IGV tracks S&P North American Expanded Technology Software Index, while BWET tracks Breakwave Wet Freight Futures Index. They also come from different issuers: iShares and Amplify. Their fees differ too: 0.39% for IGV and 3.50% for BWET.
BWET currently has the higher Sharpe Ratio (13.17 vs -0.72), 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.
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