RBLY vs. BWET

Last updated Jul 17, 2026

RBLY (YieldMax RBLX Option Income Strategy ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - RBLY is a Derivative Income fund actively managed by YieldMax, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. RBLY is actively managed, while BWET is passively managed. At a correlation of -0.15, they often move in opposite directions. RBLY charges 0.99%/yr vs 3.50%/yr for BWET.

Performance

RBLY vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax RBLX Option Income Strategy ETF (RBLY) 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, RBLY achieves a -34.96% return, which is significantly lower than BWET's 1,090.11% return.

RBLY

• 1D: -4.33%
• 1M: 7.84%
• 6M: -36.31%
• YTD: -34.96%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BWET

• 1D: -0.33%
• 1M: 17.22%
• 6M: 619.17%
• YTD: 1,090.11%
• 1Y: 1,898.00%
• 3Y*: 125.74%
• 5Y*: —
• 10Y*: —

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

RBLY vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025
RBLY YieldMax RBLX Option Income Strategy ETF	-34.96%	-26.39%
BWET Breakwave Tanker Shipping ETF	1,090.11%	76.50%

Correlation

The correlation between RBLY and BWET is -0.15, 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 (All Time) Calculated using the full available price history since Jul 29, 2025	-0.15

Return for Risk

RBLY vs. BWET — Risk / Return Rank

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

RBLY

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

BWET

BWET Risk / Return Rank: 99
BWET Sharpe Ratio Rank: 100
BWET Sortino Ratio Rank: 98
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.

RBLY vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax RBLX Option Income Strategy ETF (RBLY) 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.

	RBLY	BWET	Difference
Sharpe ratio: Return per unit of total volatility	—	17.89	—
Sortino ratio: Return per unit of downside risk	—	6.15	—
Omega ratio: Gain probability vs. loss probability	—	1.89	—
Calmar ratio: Return relative to maximum drawdown	—	46.63	—
Martin ratio: Return relative to average drawdown	—	176.08	—

Drawdowns

RBLY vs. BWET - Drawdown Comparison

The maximum RBLY drawdown since its inception was -66.96%, which is greater than BWET's maximum drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for RBLY and BWET.

Drawdown Indicators

	RBLY	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-66.96%	-56.90%	-10.06%
Max Drawdown (1Y) Largest decline over 1 year	—	-41.22%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-56.81%	—
Current Drawdown Current decline from peak	-58.69%	-10.91%	-47.78%
Average Drawdown Average peak-to-trough decline	-36.31%	-23.65%	-12.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.89%	—

Volatility

Volatility by Period

	RBLY	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	48.58%	—
Volatility (6M) Calculated over the trailing 6-month period	—	96.67%	—
Volatility (1Y) Calculated over the trailing 1-year period	53.89%	107.50%	-53.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.89%	74.64%	-20.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.89%	74.64%	-20.75%

RBLY vs. BWET - Expense Ratio Comparison

RBLY has a 0.99% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

RBLY vs. BWET - Dividend Comparison

RBLY's dividend yield for the trailing twelve months is around 128.92%, while BWET has not paid dividends to shareholders.

Position	TTM	2025
BWET Breakwave Tanker Shipping ETF	0.00%	0.00%
RBLY YieldMax RBLX Option Income Strategy ETF	128.92%	36.84%

Frequently Asked Questions

Can I hold both RBLY and BWET in my portfolio?

RBLY and BWET have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RBLY or BWET?

On fees, RBLY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RBLY or BWET?

RBLY is cheaper with a 0.99% expense ratio, compared with 3.50% for BWET.

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

RBLY has the higher dividend yield at 128.92%, compared with 0.00% for BWET.

What is the main difference between RBLY and BWET?

RBLY is categorized as Derivative Income, while BWET is Commodities. They also come from different issuers: YieldMax and Amplify. Their fees differ too: 0.99% for RBLY and 3.50% for BWET.