MSOX vs. BWET

Last updated Aug 2, 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 -66.81%/yr vs 137.18%/yr for BWET. Their -0.05 correlation means they have often moved in opposite directions in the past. 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 -49.55% return, which is significantly lower than BWET's 1,293.70% return.

MSOX

• 1D: 0.44%
• 1M: -27.56%
• 6M: -30.25%
• YTD: -49.55%
• 1Y: -44.33%
• 3Y*: -66.81%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -74.69%

BWET

• 1D: 1.74%
• 1M: 57.43%
• 6M: 631.38%
• YTD: 1,293.70%
• 1Y: 2,229.63%
• 3Y*: 137.18%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 147.72%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BWET Breakwave Tanker Shipping ETF	$41.53M	$35.69M	$28.56M
MSOX Advisorshares Msos 2x Daily ETF	$3.60M	$4.46M	$7.39M

MSOX vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MSOX Advisorshares Msos 2x Daily ETF	-49.55%	-51.20%	-87.32%	2.84%
BWET Breakwave Tanker Shipping ETF	1,293.70%	96.22%	-39.21%	14.13%

Correlation

The correlation between MSOX and BWET is -0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.08
Correlation (3Y) Balances recent behavior with more history.	-0.04
Correlation (All Time) Calculated using the full available price history since May 3, 2023	-0.05

Return for Risk

MSOX vs. BWET — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MSOX

MSOX Risk / Return Rank: 18
MSOX Sharpe Ratio Rank: 8
MSOX Sortino Ratio Rank: 38
MSOX Omega Ratio Rank: 33
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: 98
BWET Calmar Ratio Rank: 100
BWET Martin Ratio Rank: 99

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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	-0.16	21.89	-22.05
Sortino ratio: Return per unit of downside risk	1.40	6.50	-5.10
Omega ratio: Gain probability vs. loss probability	1.16	1.94	-0.78
Calmar ratio: Return relative to maximum drawdown	-0.41	57.28	-57.69
Martin ratio: Return relative to average drawdown	-0.56	215.11	-215.67

MSOX vs. BWET - Sharpe Ratio Comparison

The current MSOX Sharpe Ratio is -0.16, which is lower than the BWET Sharpe Ratio of 21.89. 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	-99.67%	0.00%	-99.67%
Average Drawdown Average peak-to-trough decline	-89.19%	-23.41%	-65.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	62.34%	10.95%	+51.39%

Volatility

MSOX vs. BWET - Volatility Comparison

The current volatility for Advisorshares Msos 2x Daily ETF (MSOX) is 25.51%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 32.52%. 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	25.51%	32.52%	-7.01%
Volatility (6M) Calculated over the trailing 6-month period	110.30%	95.71%	+14.59%
Volatility (1Y) Calculated over the trailing 1-year period	217.82%	107.87%	+109.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	166.50%	74.46%	+92.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	166.50%	74.46%	+92.04%

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 -0.08, 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 (32.52%) compared to MSOX (25.51%). 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 137.18% vs -66.81% for MSOX. On fees, MSOX is cheaper at 0.95% per year. On volatility, MSOX has been the lower-risk option at 25.51%. 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 137.18% return vs -66.81%. 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 (21.89 vs -0.16), 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.