NDIV vs. BWET

Last updated Jun 4, 2026

NDIV (Amplify Natural Resources Dividend Income ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - NDIV is a Energy Equities fund tracking the EQM Natural Resources Dividend Income Index, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. Both are passively managed. Over the past 3 years, NDIV returned 18.96%/yr vs 129.64%/yr for BWET. At a 0.05 correlation, their price movements are largely independent. NDIV charges 0.59%/yr vs 3.50%/yr for BWET.

Performance

NDIV vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Natural Resources Dividend Income ETF (NDIV) 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, NDIV achieves a 32.65% return, which is significantly lower than BWET's 875.88% return.

NDIV

• 1D: -0.69%
• 1M: -2.94%
• YTD: 32.65%
• 6M: 28.18%
• 1Y: 34.21%
• 3Y*: 18.96%
• 5Y*: —
• 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)

NDIV vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NDIV Amplify Natural Resources Dividend Income ETF	32.65%	2.85%	6.18%	20.03%
BWET Breakwave Tanker Shipping ETF	875.88%	96.22%	-39.21%	15.94%

Correlation

The correlation between NDIV 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	0.06
Correlation (All Time) Calculated using the full available price history since May 4, 2023	0.05

NDIV vs. BWET - Sectors Allocation Comparison

Sectors	NDIV	BWET
Energy	81.7%	-
Basic Materials	18.2%	-
Financial Services	0.1%	8.6%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

NDIV vs. BWET — Risk / Return Rank

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

NDIV

NDIV Risk / Return Rank: 50
NDIV Sharpe Ratio Rank: 50
NDIV Sortino Ratio Rank: 47
NDIV Omega Ratio Rank: 46
NDIV Calmar Ratio Rank: 64
NDIV Martin Ratio Rank: 46

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.

NDIV vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Natural Resources Dividend Income ETF (NDIV) 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.

	NDIV	BWET	Difference
Sharpe ratio: Return per unit of total volatility	1.73	18.57	-16.84
Sortino ratio: Return per unit of downside risk	2.33	6.55	-4.22
Omega ratio: Gain probability vs. loss probability	1.29	1.96	-0.67
Calmar ratio: Return relative to maximum drawdown	3.20	59.51	-56.30
Martin ratio: Return relative to average drawdown	7.55	158.07	-150.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NDIV vs. BWET - Sharpe Ratio Comparison

The current NDIV Sharpe Ratio is 1.73, which is lower than the BWET Sharpe Ratio of 18.57. The chart below compares the historical Sharpe Ratios of NDIV 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

	NDIV	BWET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	18.57	-16.84
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	1.90	-1.17

Drawdowns

NDIV vs. BWET - Drawdown Comparison

The maximum NDIV drawdown since its inception was -19.73%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for NDIV and BWET.

Drawdown Indicators

	NDIV	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-19.73%	-56.90%	+37.17%
Max Drawdown (1Y) Largest decline over 1 year	-10.73%	-30.64%	+19.91%
Max Drawdown (3Y) Largest decline over 3 years	-19.73%	-56.90%	+37.17%
Current Drawdown Current decline from peak	-4.08%	-11.29%	+7.21%
Average Drawdown Average peak-to-trough decline	-4.20%	-24.09%	+19.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.55%	11.51%	-6.96%

Volatility

NDIV vs. BWET - Volatility Comparison

The current volatility for Amplify Natural Resources Dividend Income ETF (NDIV) is 4.65%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 33.96%. This indicates that NDIV 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

	NDIV	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.65%	33.96%	-29.31%
Volatility (6M) Calculated over the trailing 6-month period	13.38%	88.49%	-75.11%
Volatility (1Y) Calculated over the trailing 1-year period	20.04%	98.35%	-78.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.92%	70.45%	-49.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.92%	70.45%	-49.53%

NDIV vs. BWET - Expense Ratio Comparison

NDIV has a 0.59% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

NDIV vs. BWET - Dividend Comparison

NDIV's dividend yield for the trailing twelve months is around 6.53%, while BWET has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
BWET Breakwave Tanker Shipping ETF	0.00%	0.00%	0.00%	0.00%	0.00%
NDIV Amplify Natural Resources Dividend Income ETF	6.53%	5.64%	5.88%	7.37%	1.69%

Frequently Asked Questions

Can I hold both NDIV and BWET in my portfolio?

NDIV 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.

Which is riskier, NDIV or BWET?

BWET has higher volatility (33.96%) compared to NDIV (4.65%). In terms of maximum drawdown, NDIV dropped -19.73% vs BWET's -56.90%.

Which ETF is better, NDIV or BWET?

On 3-year performance, BWET leads with 129.64% vs 18.96% for NDIV. On fees, NDIV is cheaper at 0.59% per year. On volatility, NDIV has been the lower-risk option at 4.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NDIV or BWET?

Over the 3-year period, BWET has performed better with a 129.64% return vs 18.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NDIV or BWET?

NDIV is cheaper with a 0.59% expense ratio, compared with 3.50% for BWET.

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

NDIV has the higher dividend yield at 6.53%, compared with 0.00% for BWET.

What is the main difference between NDIV and BWET?

NDIV is categorized as Energy Equities, while BWET is Commodities. NDIV tracks EQM Natural Resources Dividend Income Index, while BWET tracks Breakwave Wet Freight Futures Index. Their fees differ too: 0.59% for NDIV and 3.50% for BWET.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (18.57 vs 1.73), 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.