OKLL vs. BWET

Last updated Jun 24, 2026

OKLL (Defiance Daily Target 2x Long OKLO ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - OKLL is a Leveraged Equities fund actively managed by Defiance, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. OKLL is actively managed, while BWET is passively managed. Over the past year, OKLL returned -73.38% vs 1424.52% for BWET. At a correlation of -0.01, they often move in opposite directions. OKLL charges 1.31%/yr vs 3.50%/yr for BWET.

Performance

OKLL vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2x Long OKLO ETF (OKLL) 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, OKLL achieves a -64.46% return, which is significantly lower than BWET's 968.33% return.

OKLL

• 1D: -4.03%
• 1M: -30.54%
• YTD: -64.46%
• 6M: -73.01%
• 1Y: -73.38%
• 3Y*: —
• 5Y*: —
• 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)

OKLL vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025
OKLL Defiance Daily Target 2x Long OKLO ETF	-64.46%	-25.10%
BWET Breakwave Tanker Shipping ETF	968.33%	42.70%

Correlation

The correlation between OKLL 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 (All Time) Calculated using the full available price history since Jun 24, 2025	-0.01

Return for Risk

OKLL vs. BWET — Risk / Return Rank

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

OKLL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

OKLL vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2x Long OKLO ETF (OKLL) 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.

	OKLL	BWET	Difference
Sharpe ratio: Return per unit of total volatility	—	14.65	—
Sortino ratio: Return per unit of downside risk	—	6.07	—
Omega ratio: Gain probability vs. loss probability	—	1.87	—
Calmar ratio: Return relative to maximum drawdown	—	47.03	—
Martin ratio: Return relative to average drawdown	—	147.28	—

Drawdowns

OKLL vs. BWET - Drawdown Comparison

The maximum OKLL drawdown since its inception was -96.29%, which is greater than BWET's maximum drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for OKLL and BWET.

Drawdown Indicators

	OKLL	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-96.29%	-56.90%	-39.39%
Max Drawdown (1Y) Largest decline over 1 year	-96.29%	-30.64%	-65.65%
Max Drawdown (3Y) Largest decline over 3 years	—	-56.81%	—
Current Drawdown Current decline from peak	-95.70%	-5.48%	-90.22%
Average Drawdown Average peak-to-trough decline	-62.40%	-23.76%	-38.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.60%	—

Volatility

Volatility by Period

	OKLL	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	26.27%	—
Volatility (6M) Calculated over the trailing 6-month period	—	89.01%	—
Volatility (1Y) Calculated over the trailing 1-year period	202.78%	98.57%	+104.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	202.78%	70.47%	+132.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	202.78%	70.47%	+132.31%

OKLL vs. BWET - Expense Ratio Comparison

OKLL has a 1.31% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

OKLL vs. BWET - Dividend Comparison

Neither OKLL nor BWET has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both OKLL and BWET in my portfolio?

OKLL 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 ETF is better, OKLL or BWET?

On 1-year performance, BWET leads with 1424.52% vs -73.38% for OKLL. On fees, OKLL is cheaper at 1.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OKLL or BWET?

Over the 1-year period, BWET has performed better with a 1424.52% return vs -73.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OKLL or BWET?

OKLL is cheaper with a 1.31% expense ratio, compared with 3.50% for BWET.

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

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

What is the main difference between OKLL and BWET?

OKLL is categorized as Leveraged Equities, while BWET is Commodities. They also come from different issuers: Defiance and Amplify. Their fees differ too: 1.31% for OKLL and 3.50% for BWET.