PL vs. BWET
PL (Planet Labs PBC) is a stock, while BWET (Breakwave Tanker Shipping ETF) is Commodities fund tracking the Breakwave Wet Freight Futures Index. Over the past 3 years, PL returned 110.24%/yr vs 123.86%/yr for BWET. At a correlation of -0.02, they often move in opposite directions.
Performance
PL vs. BWET - Performance Comparison
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Returns By Period
In the year-to-date period, PL achieves a 44.68% return, which is significantly lower than BWET's 968.33% return.
PL
- 1D
- -0.83%
- 1M
- -35.67%
- YTD
- 44.68%
- 6M
- 37.63%
- 1Y
- 438.30%
- 3Y*
- 110.24%
- 5Y*
- —
- 10Y*
- —
BWET
- 1D
- -5.48%
- 1M
- 18.43%
- YTD
- 968.33%
- 6M
- 944.72%
- 1Y
- 1,424.52%
- 3Y*
- 123.86%
- 5Y*
- —
- 10Y*
- —
PL vs. BWET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PL Planet Labs PBC | 44.68% | 388.12% | 63.56% | -36.99% |
BWET Breakwave Tanker Shipping ETF | 968.33% | 96.22% | -39.21% | 14.13% |
Correlation
The correlation between PL and BWET is -0.07, 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 | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since May 3, 2023 | -0.02 |
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Return for Risk
PL vs. BWET — Risk / Return Rank
PL
BWET
PL vs. BWET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Planet Labs PBC (PL) 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.
| PL | BWET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -10.35 | ||
| Sortino ratioReturn per unit of downside risk | -2.04 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.87 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 9.80 | 47.03 | -37.24 |
| Martin ratioReturn relative to average drawdown | 30.33 | 147.28 | -116.95 |
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Drawdowns
PL vs. BWET - Drawdown Comparison
The maximum PL drawdown since its inception was -85.11%, which is greater than BWET's maximum drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for PL and BWET.
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Drawdown Indicators
| PL | BWET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.11% | -56.90% | -28.21% |
Max Drawdown (1Y)Largest decline over 1 year | -45.12% | -30.64% | -14.48% |
Max Drawdown (3Y)Largest decline over 3 years | -55.17% | -56.81% | +1.64% |
Current DrawdownCurrent decline from peak | -44.49% | -5.48% | -39.01% |
Average DrawdownAverage peak-to-trough decline | -55.32% | -23.76% | -31.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.54% | 11.60% | +2.94% |
Volatility
PL vs. BWET - Volatility Comparison
Planet Labs PBC (PL) has a higher volatility of 39.26% compared to Breakwave Tanker Shipping ETF (BWET) at 26.27%. This indicates that PL's price experiences larger fluctuations and is considered to be riskier 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
| PL | BWET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 39.26% | 26.27% | +12.99% |
Volatility (6M)Calculated over the trailing 6-month period | 72.65% | 89.01% | -16.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 102.83% | 98.57% | +4.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 84.76% | 70.47% | +14.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 84.76% | 70.47% | +14.29% |
Dividends
PL vs. BWET - Dividend Comparison
Neither PL nor BWET has paid dividends to shareholders.
Frequently Asked Questions
PL and BWET have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PL has higher volatility (39.26%) compared to BWET (26.27%). In terms of maximum drawdown, PL dropped -85.11% vs BWET's -56.90%.
BWET currently has the higher Sharpe Ratio (14.65 vs 4.30), 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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