MOAT vs. BWET
MOAT (VanEck Morningstar Wide Moat ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - MOAT is a Large Cap Blend Equities fund tracking the Morningstar Wide Moat Focus Index, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. Both are passively managed. Over the past 3 years, MOAT returned 10.33%/yr vs 128.11%/yr for BWET. At a correlation of -0.04, they often move in opposite directions. MOAT charges 0.47%/yr vs 3.50%/yr for BWET.
Performance
MOAT vs. BWET - Performance Comparison
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Returns By Period
In the year-to-date period, MOAT achieves a -2.48% return, which is significantly lower than BWET's 1,030.31% return.
MOAT
- 1D
- -1.11%
- 1M
- -1.22%
- YTD
- -2.48%
- 6M
- -3.43%
- 1Y
- 12.95%
- 3Y*
- 10.33%
- 5Y*
- 7.77%
- 10Y*
- 13.63%
BWET
- 1D
- 2.73%
- 1M
- 25.30%
- YTD
- 1,030.31%
- 6M
- 892.97%
- 1Y
- 1,640.62%
- 3Y*
- 128.11%
- 5Y*
- —
- 10Y*
- —
MOAT vs. BWET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MOAT VanEck Morningstar Wide Moat ETF | -2.48% | 13.20% | 10.73% | 16.13% |
BWET Breakwave Tanker Shipping ETF | 1,030.31% | 96.22% | -39.21% | 14.13% |
Correlation
The correlation between MOAT and BWET is -0.12, 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 | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since May 3, 2023 | -0.04 |
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Return for Risk
MOAT vs. BWET — Risk / Return Rank
MOAT
BWET
MOAT vs. BWET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar Wide Moat ETF (MOAT) 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.
| MOAT | BWET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -15.96 | ||
| Sortino ratioReturn per unit of downside risk | -4.95 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.92 | -0.76 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 54.19 | -53.15 |
| Martin ratioReturn relative to average drawdown | 3.16 | 142.88 | -139.72 |
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Drawdowns
MOAT vs. BWET - Drawdown Comparison
The maximum MOAT drawdown since its inception was -33.31%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for MOAT and BWET.
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Drawdown Indicators
| MOAT | BWET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.31% | -56.90% | +23.59% |
Max Drawdown (1Y)Largest decline over 1 year | -12.43% | -30.64% | +18.21% |
Max Drawdown (3Y)Largest decline over 3 years | -21.44% | -56.81% | +35.37% |
Max Drawdown (5Y)Largest decline over 5 years | -23.96% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.31% | — | — |
Current DrawdownCurrent decline from peak | -6.20% | 0.00% | -6.20% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -23.78% | +19.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.11% | 11.60% | -7.49% |
Volatility
MOAT vs. BWET - Volatility Comparison
The current volatility for VanEck Morningstar Wide Moat ETF (MOAT) is 4.72%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 25.51%. This indicates that MOAT 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
| MOAT | BWET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.72% | 25.51% | -20.79% |
Volatility (6M)Calculated over the trailing 6-month period | 10.24% | 88.96% | -78.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.02% | 98.53% | -84.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.24% | 70.43% | -52.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.70% | 70.43% | -51.73% |
MOAT vs. BWET - Expense Ratio Comparison
MOAT has a 0.47% expense ratio, which is lower than BWET's 3.50% expense ratio.
Dividends
MOAT vs. BWET - Dividend Comparison
MOAT's dividend yield for the trailing twelve months is around 1.39%, 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% |
MOAT VanEck Morningstar Wide Moat ETF | 1.39% | 1.36% | 1.37% | 0.86% | 1.25% | 1.08% | 1.46% | 1.31% | 1.79% | 1.07% | 1.17% | 2.13% |
Frequently Asked Questions
MOAT and BWET have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BWET has higher volatility (25.51%) compared to MOAT (4.72%). In terms of maximum drawdown, MOAT dropped -33.31% vs BWET's -56.90%.
On 3-year performance, BWET leads with 128.11% vs 10.33% for MOAT. On fees, MOAT is cheaper at 0.47% per year. On volatility, MOAT has been the lower-risk option at 4.72%. 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 128.11% return vs 10.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MOAT is cheaper with a 0.47% expense ratio, compared with 3.50% for BWET.
MOAT has the higher dividend yield at 1.39%, compared with 0.00% for BWET.
MOAT is categorized as Large Cap Blend Equities, while BWET is Commodities. MOAT tracks Morningstar Wide Moat Focus Index, while BWET tracks Breakwave Wet Freight Futures Index. They also come from different issuers: VanEck and Amplify. Their fees differ too: 0.47% for MOAT and 3.50% for BWET.
BWET currently has the higher Sharpe Ratio (16.89 vs 0.93), 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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