RCGE vs. BWET

Last updated Jul 2, 2026

RCGE (RockCreek Global Equality ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - RCGE is a Global Equities fund actively managed by RockCreek, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. RCGE is actively managed, while BWET is passively managed. Over the past year, RCGE returned 11.09% vs 1330.90% for BWET. At a correlation of -0.11, they often move in opposite directions. RCGE charges 0.95%/yr vs 3.50%/yr for BWET.

Performance

RCGE vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in RockCreek Global Equality ETF (RCGE) 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, RCGE achieves a 4.51% return, which is significantly lower than BWET's 673.34% return.

RCGE

• 1D: -0.44%
• 1M: 0.54%
• 6M: 4.51%
• YTD: 4.51%
• 1Y: 11.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BWET

• 1D: 0.40%
• 1M: -10.17%
• 6M: 673.34%
• YTD: 673.34%
• 1Y: 1,330.90%
• 3Y*: 92.52%
• 5Y*: —
• 10Y*: —

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

RCGE vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025
RCGE RockCreek Global Equality ETF	4.51%	13.33%
BWET Breakwave Tanker Shipping ETF	673.34%	77.96%

Correlation

The correlation between RCGE and BWET is -0.10, 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	-0.10
Correlation (All Time) Calculated using the full available price history since Feb 27, 2025	-0.11

Return for Risk

RCGE vs. BWET — Risk / Return Rank

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

RCGE

RCGE Risk / Return Rank: 29
RCGE Sharpe Ratio Rank: 28
RCGE Sortino Ratio Rank: 28
RCGE Omega Ratio Rank: 27
RCGE Calmar Ratio Rank: 28
RCGE Martin Ratio Rank: 32

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.

RCGE vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RockCreek Global Equality ETF (RCGE) 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.

	RCGE	BWET	Difference
Sharpe ratio: Return per unit of total volatility	0.91	13.10	-12.19
Sortino ratio: Return per unit of downside risk	1.37	5.59	-4.22
Omega ratio: Gain probability vs. loss probability	1.17	1.81	-0.65
Calmar ratio: Return relative to maximum drawdown	1.19	32.66	-31.47
Martin ratio: Return relative to average drawdown	4.09	126.31	-122.22

RCGE vs. BWET - Sharpe Ratio Comparison

The current RCGE Sharpe Ratio is 0.91, which is lower than the BWET Sharpe Ratio of 13.10. The chart below compares the historical Sharpe Ratios of RCGE 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

RCGE vs. BWET - Drawdown Comparison

The maximum RCGE drawdown since its inception was -13.32%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for RCGE and BWET.

Drawdown Indicators

	RCGE	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-13.32%	-56.90%	+43.58%
Max Drawdown (1Y) Largest decline over 1 year	-9.33%	-41.22%	+31.89%
Max Drawdown (3Y) Largest decline over 3 years	—	-56.81%	—
Current Drawdown Current decline from peak	-1.04%	-31.58%	+30.54%
Average Drawdown Average peak-to-trough decline	-1.96%	-23.82%	+21.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	10.64%	-7.92%

Volatility

RCGE vs. BWET - Volatility Comparison

The current volatility for RockCreek Global Equality ETF (RCGE) is 3.42%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 39.80%. This indicates that RCGE 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

	RCGE	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.42%	39.80%	-36.38%
Volatility (6M) Calculated over the trailing 6-month period	9.87%	94.61%	-84.74%
Volatility (1Y) Calculated over the trailing 1-year period	12.24%	102.84%	-90.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.28%	72.70%	-57.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.28%	72.70%	-57.42%

RCGE vs. BWET - Expense Ratio Comparison

RCGE has a 0.95% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

RCGE vs. BWET - Dividend Comparison

RCGE's dividend yield for the trailing twelve months is around 1.73%, while BWET has not paid dividends to shareholders.

Position	TTM	2025
BWET Breakwave Tanker Shipping ETF	0.00%	0.00%
RCGE RockCreek Global Equality ETF	1.73%	1.81%

Frequently Asked Questions

Can I hold both RCGE and BWET in my portfolio?

RCGE and BWET have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RCGE or BWET?

BWET has higher volatility (39.80%) compared to RCGE (3.42%). In terms of maximum drawdown, RCGE dropped -13.32% vs BWET's -56.90%.

Which ETF is better, RCGE or BWET?

On 1-year performance, BWET leads with 1330.90% vs 11.09% for RCGE. On fees, RCGE is cheaper at 0.95% per year. On volatility, RCGE has been the lower-risk option at 3.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RCGE or BWET?

Over the 1-year period, BWET has performed better with a 1330.90% return vs 11.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RCGE or BWET?

RCGE is cheaper with a 0.95% expense ratio, compared with 3.50% for BWET.

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

RCGE has the higher dividend yield at 1.73%, compared with 0.00% for BWET.

What is the main difference between RCGE and BWET?

RCGE is categorized as Global Equities, while BWET is Commodities. They also come from different issuers: RockCreek and Amplify. Their fees differ too: 0.95% for RCGE and 3.50% for BWET.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (13.10 vs 0.91), 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.