MSOX vs. BWET

Last updated Jul 14, 2026

MSOX (Advisorshares Msos 2x Daily ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - MSOX is a Leveraged Equities fund actively managed by AdvisorShares, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. MSOX is actively managed, while BWET is passively managed. Over the past 3 years, MSOX returned -66.53%/yr vs 120.49%/yr for BWET. At a correlation of -0.06, they often move in opposite directions. MSOX charges 0.95%/yr vs 3.50%/yr for BWET.

Performance

MSOX vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Advisorshares Msos 2x Daily ETF (MSOX) 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, MSOX achieves a -37.05% return, which is significantly lower than BWET's 995.07% return.

MSOX

• 1D: 9.30%
• 1M: -17.54%
• 6M: -43.26%
• YTD: -37.05%
• 1Y: -29.50%
• 3Y*: -66.53%
• 5Y*: —
• 10Y*: —

BWET

• 1D: 3.74%
• 1M: 5.53%
• 6M: 731.53%
• YTD: 995.07%
• 1Y: 1,761.96%
• 3Y*: 120.49%
• 5Y*: —
• 10Y*: —

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

MSOX vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MSOX Advisorshares Msos 2x Daily ETF	-37.05%	-51.20%	-87.32%	2.84%
BWET Breakwave Tanker Shipping ETF	995.07%	96.22%	-39.21%	14.13%

Correlation

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

Return for Risk

MSOX vs. BWET — Risk / Return Rank

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

MSOX

MSOX Risk / Return Rank: 17
MSOX Sharpe Ratio Rank: 8
MSOX Sortino Ratio Rank: 34
MSOX Omega Ratio Rank: 30
MSOX Calmar Ratio Rank: 6
MSOX Martin Ratio Rank: 7

BWET

BWET Risk / Return Rank: 99
BWET Sharpe Ratio Rank: 100
BWET Sortino Ratio Rank: 98
BWET Omega Ratio Rank: 97
BWET Calmar Ratio Rank: 99
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.

MSOX vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Advisorshares Msos 2x Daily ETF (MSOX) 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.

	MSOX	BWET	Difference
Sharpe ratio: Return per unit of total volatility	-0.13	17.02	-17.15
Sortino ratio: Return per unit of downside risk	1.49	6.08	-4.60
Omega ratio: Gain probability vs. loss probability	1.17	1.89	-0.72
Calmar ratio: Return relative to maximum drawdown	-0.35	43.28	-43.63
Martin ratio: Return relative to average drawdown	-0.50	163.33	-163.83

MSOX vs. BWET - Sharpe Ratio Comparison

The current MSOX Sharpe Ratio is -0.13, which is lower than the BWET Sharpe Ratio of 17.02. The chart below compares the historical Sharpe Ratios of MSOX 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.

Drawdowns

MSOX vs. BWET - Drawdown Comparison

The maximum MSOX drawdown since its inception was -99.75%, which is greater than BWET's maximum drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for MSOX and BWET.

Drawdown Indicators

	MSOX	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-99.75%	-56.90%	-42.85%
Max Drawdown (1Y) Largest decline over 1 year	-84.89%	-41.22%	-43.67%
Max Drawdown (3Y) Largest decline over 3 years	-98.83%	-56.81%	-42.02%
Current Drawdown Current decline from peak	-99.58%	-3.12%	-96.46%
Average Drawdown Average peak-to-trough decline	-89.04%	-23.71%	-65.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	59.62%	10.90%	+48.72%

Volatility

MSOX vs. BWET - Volatility Comparison

The current volatility for Advisorshares Msos 2x Daily ETF (MSOX) is 33.52%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 42.90%. This indicates that MSOX 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

	MSOX	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.52%	42.90%	-9.38%
Volatility (6M) Calculated over the trailing 6-month period	112.31%	95.43%	+16.88%
Volatility (1Y) Calculated over the trailing 1-year period	220.61%	105.04%	+115.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	167.49%	73.53%	+93.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	167.49%	73.53%	+93.96%

MSOX vs. BWET - Expense Ratio Comparison

MSOX has a 0.95% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

MSOX vs. BWET - Dividend Comparison

Neither MSOX nor BWET has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MSOX and BWET in my portfolio?

MSOX 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, MSOX or BWET?

BWET has higher volatility (42.90%) compared to MSOX (33.52%). In terms of maximum drawdown, MSOX dropped -99.75% vs BWET's -56.90%.

Which ETF is better, MSOX or BWET?

On 3-year performance, BWET leads with 120.49% vs -66.53% for MSOX. On fees, MSOX is cheaper at 0.95% per year. On volatility, MSOX has been the lower-risk option at 33.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSOX or BWET?

Over the 3-year period, BWET has performed better with a 120.49% return vs -66.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSOX or BWET?

MSOX is cheaper with a 0.95% expense ratio, compared with 3.50% for BWET.

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

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

What is the main difference between MSOX and BWET?

MSOX is categorized as Leveraged Equities, while BWET is Commodities. They also come from different issuers: AdvisorShares and Amplify. Their fees differ too: 0.95% for MSOX and 3.50% for BWET.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (17.02 vs -0.13), 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.