NANR vs. BWET
NANR (SPDR S&P North American Natural Resources ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - NANR is a Natural Resources fund tracking the S&P BMI North American Natural Resources Index, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. Both are passively managed. Over the past 3 years, NANR returned 18.00%/yr vs 123.86%/yr for BWET. At a 0.03 correlation, their price movements are largely independent. NANR charges 0.35%/yr vs 3.50%/yr for BWET.
Performance
NANR vs. BWET - Performance Comparison
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Returns By Period
In the year-to-date period, NANR achieves a 14.14% return, which is significantly lower than BWET's 968.33% return.
NANR
- 1D
- -1.89%
- 1M
- -5.93%
- YTD
- 14.14%
- 6M
- 12.45%
- 1Y
- 36.86%
- 3Y*
- 18.00%
- 5Y*
- 15.44%
- 10Y*
- 11.63%
BWET
- 1D
- -5.48%
- 1M
- 18.43%
- YTD
- 968.33%
- 6M
- 944.72%
- 1Y
- 1,424.52%
- 3Y*
- 123.86%
- 5Y*
- —
- 10Y*
- —
NANR vs. BWET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NANR SPDR S&P North American Natural Resources ETF | 14.14% | 35.35% | 2.31% | -2.19% |
BWET Breakwave Tanker Shipping ETF | 968.33% | 96.22% | -39.21% | 14.13% |
Correlation
The correlation between NANR and BWET is -0.01, 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 | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since May 3, 2023 | 0.03 |
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Return for Risk
NANR vs. BWET — Risk / Return Rank
NANR
BWET
NANR vs. BWET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P North American Natural Resources ETF (NANR) 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.
| NANR | BWET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -12.72 | ||
| Sortino ratioReturn per unit of downside risk | -3.57 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.87 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | 3.64 | 47.03 | -43.39 |
| Martin ratioReturn relative to average drawdown | 12.39 | 147.28 | -134.89 |
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Drawdowns
NANR vs. BWET - Drawdown Comparison
The maximum NANR drawdown since its inception was -49.15%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for NANR and BWET.
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Drawdown Indicators
| NANR | BWET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.15% | -56.90% | +7.75% |
Max Drawdown (1Y)Largest decline over 1 year | -10.16% | -30.64% | +20.48% |
Max Drawdown (3Y)Largest decline over 3 years | -18.42% | -56.81% | +38.39% |
Max Drawdown (5Y)Largest decline over 5 years | -26.42% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -49.15% | — | — |
Current DrawdownCurrent decline from peak | -10.16% | -5.48% | -4.68% |
Average DrawdownAverage peak-to-trough decline | -8.39% | -23.76% | +15.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 11.60% | -8.61% |
Volatility
NANR vs. BWET - Volatility Comparison
The current volatility for SPDR S&P North American Natural Resources ETF (NANR) is 6.86%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 26.27%. This indicates that NANR 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
| NANR | BWET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.86% | 26.27% | -19.41% |
Volatility (6M)Calculated over the trailing 6-month period | 15.29% | 89.01% | -73.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.13% | 98.57% | -79.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.92% | 70.47% | -47.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.59% | 70.47% | -46.88% |
NANR vs. BWET - Expense Ratio Comparison
NANR has a 0.35% expense ratio, which is lower than BWET's 3.50% expense ratio.
Dividends
NANR vs. BWET - Dividend Comparison
NANR's dividend yield for the trailing twelve months is around 1.84%, 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% |
NANR SPDR S&P North American Natural Resources ETF | 1.84% | 1.77% | 2.20% | 2.78% | 2.70% | 2.61% | 2.73% | 2.02% | 1.95% | 1.83% | 5.01% | 0.01% |
Frequently Asked Questions
NANR and BWET have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BWET has higher volatility (26.27%) compared to NANR (6.86%). In terms of maximum drawdown, NANR dropped -49.15% vs BWET's -56.90%.
On 3-year performance, BWET leads with 123.86% vs 18.00% for NANR. On fees, NANR is cheaper at 0.35% per year. On volatility, NANR has been the lower-risk option at 6.86%. 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 123.86% return vs 18.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NANR is cheaper with a 0.35% expense ratio, compared with 3.50% for BWET.
NANR has the higher dividend yield at 1.84%, compared with 0.00% for BWET.
NANR is categorized as Natural Resources, while BWET is Commodities. NANR tracks S&P BMI North American Natural Resources Index, while BWET tracks Breakwave Wet Freight Futures Index. They also come from different issuers: State Street and Amplify. Their fees differ too: 0.35% for NANR and 3.50% for BWET.
BWET currently has the higher Sharpe Ratio (14.65 vs 1.94), 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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