IOYY vs. BWET

Last updated Jun 4, 2026

IOYY (GraniteShares YieldBOOST IONQ ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - IOYY is a Derivative Income fund actively managed by GraniteShares, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. IOYY is actively managed, while BWET is passively managed. At a correlation of -0.16, they often move in opposite directions. IOYY charges 1.07%/yr vs 3.50%/yr for BWET.

Performance

IOYY vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares YieldBOOST IONQ ETF (IOYY) 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, IOYY achieves a -11.06% return, which is significantly lower than BWET's 875.88% return.

IOYY

• 1D: -0.54%
• 1M: 9.06%
• YTD: -11.06%
• 6M: -19.16%
• 1Y: —
• 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)

IOYY vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025
IOYY GraniteShares YieldBOOST IONQ ETF	-11.06%	-11.64%
BWET Breakwave Tanker Shipping ETF	875.88%	6.79%

Correlation

The correlation between IOYY and BWET is -0.16, 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 (All Time) Calculated using the full available price history since Nov 5, 2025	-0.16

Return for Risk

IOYY 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: 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.

IOYY vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST IONQ ETF (IOYY) 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

	IOYY	BWET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	18.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.00	1.90	-2.90

Drawdowns

IOYY vs. BWET - Drawdown Comparison

The maximum IOYY drawdown since its inception was -38.47%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for IOYY and BWET.

Drawdown Indicators

	IOYY	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-38.47%	-56.90%	+18.43%
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	-27.87%	-11.29%	-16.58%
Average Drawdown Average peak-to-trough decline	-23.09%	-24.09%	+1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.51%	—

Volatility

Volatility by Period

	IOYY	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	33.96%	—
Volatility (6M) Calculated over the trailing 6-month period	—	88.49%	—
Volatility (1Y) Calculated over the trailing 1-year period	34.42%	98.35%	-63.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.42%	70.45%	-36.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.42%	70.45%	-36.03%

IOYY vs. BWET - Expense Ratio Comparison

IOYY has a 1.07% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

IOYY vs. BWET - Dividend Comparison

IOYY's dividend yield for the trailing twelve months is around 121.09%, while BWET has not paid dividends to shareholders.

Position	TTM	2025
BWET Breakwave Tanker Shipping ETF	0.00%	0.00%
IOYY GraniteShares YieldBOOST IONQ ETF	121.09%	28.55%

Frequently Asked Questions

Can I hold both IOYY and BWET in my portfolio?

IOYY and BWET have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IOYY or BWET?

On fees, IOYY is cheaper at 1.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IOYY or BWET?

IOYY is cheaper with a 1.07% expense ratio, compared with 3.50% for BWET.

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

IOYY has the higher dividend yield at 121.09%, compared with 0.00% for BWET.

What is the main difference between IOYY and BWET?

IOYY is categorized as Derivative Income, while BWET is Commodities. They also come from different issuers: GraniteShares and Amplify. Their fees differ too: 1.07% for IOYY and 3.50% for BWET.