OGIG vs. BWET

Last updated Jun 24, 2026

OGIG (O’Shares Global Internet Giants ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - OGIG is a Large Cap Growth Equities fund tracking the O’Shares Global Internet Giants Index, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. Both are passively managed. Over the past 3 years, OGIG returned 11.17%/yr vs 123.86%/yr for BWET. At a correlation of -0.04, they often move in opposite directions. OGIG charges 0.48%/yr vs 3.50%/yr for BWET.

Performance

OGIG vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in O’Shares Global Internet Giants ETF (OGIG) 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, OGIG achieves a -18.24% return, which is significantly lower than BWET's 968.33% return.

OGIG

• 1D: -0.32%
• 1M: -5.75%
• YTD: -18.24%
• 6M: -19.41%
• 1Y: -16.68%
• 3Y*: 11.17%
• 5Y*: -5.48%
• 10Y*: —

BWET

• 1D: -5.48%
• 1M: 18.43%
• YTD: 968.33%
• 6M: 944.72%
• 1Y: 1,424.52%
• 3Y*: 123.86%
• 5Y*: —
• 10Y*: —

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

OGIG vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
OGIG O’Shares Global Internet Giants ETF	-18.24%	14.39%	25.97%	37.41%
BWET Breakwave Tanker Shipping ETF	968.33%	96.22%	-39.21%	14.13%

Correlation

The correlation between OGIG and BWET is -0.13, 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	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	-0.04
Correlation (All Time) Calculated using the full available price history since May 3, 2023	-0.04

Return for Risk

OGIG vs. BWET — Risk / Return Rank

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

OGIG

OGIG Risk / Return Rank: 4
OGIG Sharpe Ratio Rank: 3
OGIG Sortino Ratio Rank: 3
OGIG Omega Ratio Rank: 3
OGIG Calmar Ratio Rank: 5
OGIG Martin Ratio Rank: 4

BWET

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

OGIG vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for O’Shares Global Internet Giants ETF (OGIG) 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.

	OGIG	BWET	Difference
Sharpe ratio: Return per unit of total volatility	-0.73	14.65	-15.39
Sortino ratio: Return per unit of downside risk	-0.91	6.07	-6.98
Omega ratio: Gain probability vs. loss probability	0.89	1.87	-0.98
Calmar ratio: Return relative to maximum drawdown	-0.50	47.03	-47.54
Martin ratio: Return relative to average drawdown	-1.00	147.28	-148.28

OGIG vs. BWET - Sharpe Ratio Comparison

The current OGIG Sharpe Ratio is -0.73, which is lower than the BWET Sharpe Ratio of 14.65. The chart below compares the historical Sharpe Ratios of OGIG 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

OGIG vs. BWET - Drawdown Comparison

The maximum OGIG drawdown since its inception was -66.05%, which is greater than BWET's maximum drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for OGIG and BWET.

Drawdown Indicators

	OGIG	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-66.05%	-56.90%	-9.15%
Max Drawdown (1Y) Largest decline over 1 year	-33.23%	-30.64%	-2.59%
Max Drawdown (3Y) Largest decline over 3 years	-33.23%	-56.81%	+23.58%
Max Drawdown (5Y) Largest decline over 5 years	-62.79%	—	—
Current Drawdown Current decline from peak	-32.46%	-5.48%	-26.98%
Average Drawdown Average peak-to-trough decline	-25.68%	-23.76%	-1.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.69%	11.60%	+5.09%

Volatility

OGIG vs. BWET - Volatility Comparison

The current volatility for O’Shares Global Internet Giants ETF (OGIG) is 9.72%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 26.27%. This indicates that OGIG 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

	OGIG	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.72%	26.27%	-16.55%
Volatility (6M) Calculated over the trailing 6-month period	18.95%	89.01%	-70.06%
Volatility (1Y) Calculated over the trailing 1-year period	22.82%	98.57%	-75.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.68%	70.47%	-38.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.00%	70.47%	-39.47%

OGIG vs. BWET - Expense Ratio Comparison

OGIG has a 0.48% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

OGIG vs. BWET - Dividend Comparison

OGIG's dividend yield for the trailing twelve months is around 0.09%, while BWET has not paid dividends to shareholders.

Position	TTM	2025
BWET Breakwave Tanker Shipping ETF	0.00%	0.00%
OGIG O’Shares Global Internet Giants ETF	0.09%	0.07%

Frequently Asked Questions

Can I hold both OGIG and BWET in my portfolio?

OGIG and BWET have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OGIG or BWET?

BWET has higher volatility (26.27%) compared to OGIG (9.72%). In terms of maximum drawdown, OGIG dropped -66.05% vs BWET's -56.90%.

Which ETF is better, OGIG or BWET?

On 3-year performance, BWET leads with 123.86% vs 11.17% for OGIG. On fees, OGIG is cheaper at 0.48% per year. On volatility, OGIG has been the lower-risk option at 9.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OGIG or BWET?

Over the 3-year period, BWET has performed better with a 123.86% return vs 11.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OGIG or BWET?

OGIG is cheaper with a 0.48% expense ratio, compared with 3.50% for BWET.

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

OGIG has the higher dividend yield at 0.09%, compared with 0.00% for BWET.

What is the main difference between OGIG and BWET?

OGIG is categorized as Large Cap Growth Equities, while BWET is Commodities. OGIG tracks O’Shares Global Internet Giants Index, while BWET tracks Breakwave Wet Freight Futures Index. They also come from different issuers: O'Shares Investments and Amplify. Their fees differ too: 0.48% for OGIG and 3.50% for BWET.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (14.65 vs -0.73), 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.