MSOS vs. BWET

Last updated Jun 4, 2026

MSOS (AdvisorShares Pure US Cannabis ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - MSOS is a Small Cap Blend Equities fund actively managed by AdvisorShares, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. MSOS is actively managed, while BWET is passively managed. Over the past 3 years, MSOS returned -4.01%/yr vs 129.64%/yr for BWET. At a correlation of -0.06, they often move in opposite directions. MSOS charges 0.74%/yr vs 3.50%/yr for BWET.

Performance

MSOS vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AdvisorShares Pure US Cannabis ETF (MSOS) 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, MSOS achieves a 0.42% return, which is significantly lower than BWET's 875.88% return.

MSOS

• 1D: -6.14%
• 1M: -2.07%
• YTD: 0.42%
• 6M: 28.46%
• 1Y: 99.16%
• 3Y*: -4.01%
• 5Y*: -35.03%
• 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)

MSOS vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MSOS AdvisorShares Pure US Cannabis ETF	0.42%	23.88%	-45.65%	31.27%
BWET Breakwave Tanker Shipping ETF	875.88%	96.22%	-39.21%	15.94%

Correlation

The correlation between MSOS and BWET is -0.15, 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	-0.15
Correlation (3Y) Calculated over the trailing 3-year period	-0.05
Correlation (All Time) Calculated using the full available price history since May 4, 2023	-0.06

MSOS vs. BWET - Sectors Allocation Comparison

Sectors	MSOS	BWET
Real Estate	50.2%	-
Industrials	29.6%	-
Consumer Cyclical	17.8%	-
Healthcare	2.5%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	8.6%
Technology	-	-
Utilities	-	-

Return for Risk

MSOS vs. BWET — Risk / Return Rank

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

MSOS

MSOS Risk / Return Rank: 32
MSOS Sharpe Ratio Rank: 24
MSOS Sortino Ratio Rank: 39
MSOS Omega Ratio Rank: 35
MSOS Calmar Ratio Rank: 38
MSOS Martin Ratio Rank: 26

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.

MSOS vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Pure US Cannabis ETF (MSOS) 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.

	MSOS	BWET	Difference
Sharpe ratio: Return per unit of total volatility	0.89	18.57	-17.68
Sortino ratio: Return per unit of downside risk	2.04	6.55	-4.52
Omega ratio: Gain probability vs. loss probability	1.24	1.96	-0.72
Calmar ratio: Return relative to maximum drawdown	1.88	59.51	-57.62
Martin ratio: Return relative to average drawdown	3.58	158.07	-154.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSOS vs. BWET - Sharpe Ratio Comparison

The current MSOS Sharpe Ratio is 0.89, which is lower than the BWET Sharpe Ratio of 18.57. The chart below compares the historical Sharpe Ratios of MSOS 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

	MSOS	BWET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.89	18.57	-17.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.34	1.90	-2.24

Drawdowns

MSOS vs. BWET - Drawdown Comparison

The maximum MSOS drawdown since its inception was -96.25%, which is greater than BWET's maximum drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for MSOS and BWET.

Drawdown Indicators

	MSOS	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-96.25%	-56.90%	-39.35%
Max Drawdown (1Y) Largest decline over 1 year	-52.91%	-30.64%	-22.27%
Max Drawdown (3Y) Largest decline over 3 years	-81.71%	-56.90%	-24.81%
Max Drawdown (5Y) Largest decline over 5 years	-94.99%	—	—
Current Drawdown Current decline from peak	-91.37%	-11.29%	-80.08%
Average Drawdown Average peak-to-trough decline	-71.71%	-24.09%	-47.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.78%	11.51%	+16.27%

Volatility

MSOS vs. BWET - Volatility Comparison

The current volatility for AdvisorShares Pure US Cannabis ETF (MSOS) is 20.45%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 33.96%. This indicates that MSOS 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

	MSOS	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.45%	33.96%	-13.51%
Volatility (6M) Calculated over the trailing 6-month period	80.61%	88.49%	-7.88%
Volatility (1Y) Calculated over the trailing 1-year period	112.00%	98.35%	+13.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	77.81%	70.45%	+7.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.04%	70.45%	+3.59%

MSOS vs. BWET - Expense Ratio Comparison

MSOS has a 0.74% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

MSOS vs. BWET - Dividend Comparison

Neither MSOS nor BWET has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
BWET Breakwave Tanker Shipping ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MSOS AdvisorShares Pure US Cannabis ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.27%

Frequently Asked Questions

Can I hold both MSOS and BWET in my portfolio?

MSOS and BWET have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSOS or BWET?

BWET has higher volatility (33.96%) compared to MSOS (20.45%). In terms of maximum drawdown, MSOS dropped -96.25% vs BWET's -56.90%.

Which ETF is better, MSOS or BWET?

On 3-year performance, BWET leads with 129.64% vs -4.01% for MSOS. On fees, MSOS is cheaper at 0.74% per year. On volatility, MSOS has been the lower-risk option at 20.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSOS or BWET?

Over the 3-year period, BWET has performed better with a 129.64% return vs -4.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSOS or BWET?

MSOS is cheaper with a 0.74% expense ratio, compared with 3.50% for BWET.

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

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

What is the main difference between MSOS and BWET?

MSOS is categorized as Small Cap Blend Equities, while BWET is Commodities. They also come from different issuers: AdvisorShares and Amplify. Their fees differ too: 0.74% for MSOS and 3.50% for BWET.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (18.57 vs 0.89), 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.