SOYB vs. BWET

Last updated Jul 14, 2026

SOYB (Teucrium Soybean Fund) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - SOYB is a Agricultural Commodities fund tracking the Teucrium Soybean Fund Benchmark, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. Both are passively managed. Over the past 3 years, SOYB returned -3.57%/yr vs 120.49%/yr for BWET. At a correlation of -0.03, they often move in opposite directions. SOYB charges 1.88%/yr vs 3.50%/yr for BWET.

Performance

SOYB vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Teucrium Soybean Fund (SOYB) 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, SOYB achieves a 15.87% return, which is significantly lower than BWET's 995.07% return.

SOYB

• 1D: 0.64%
• 1M: 4.97%
• 6M: 15.29%
• YTD: 15.87%
• 1Y: 18.03%
• 3Y*: -3.57%
• 5Y*: 1.40%
• 10Y*: 2.46%

BWET

• 1D: 3.74%
• 1M: 5.53%
• 6M: 731.53%
• YTD: 995.07%
• 1Y: 1,761.96%
• 3Y*: 120.49%
• 5Y*: —
• 10Y*: —

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

SOYB vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SOYB Teucrium Soybean Fund	15.87%	1.77%	-20.48%	2.27%
BWET Breakwave Tanker Shipping ETF	995.07%	96.22%	-39.21%	14.13%

Correlation

The correlation between SOYB 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	-0.02
Correlation (All Time) Calculated using the full available price history since May 3, 2023	-0.03

The correlation between SOYB and BWET shifts across timeframes, from -0.13 (1 year) to -0.02 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

SOYB vs. BWET — Risk / Return Rank

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

SOYB

SOYB Risk / Return Rank: 50
SOYB Sharpe Ratio Rank: 51
SOYB Sortino Ratio Rank: 54
SOYB Omega Ratio Rank: 50
SOYB Calmar Ratio Rank: 52
SOYB Martin Ratio Rank: 42

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.

SOYB vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Teucrium Soybean Fund (SOYB) 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.

	SOYB	BWET	Difference
Sharpe ratio: Return per unit of total volatility	1.40	17.02	-15.62
Sortino ratio: Return per unit of downside risk	2.09	6.08	-3.99
Omega ratio: Gain probability vs. loss probability	1.25	1.89	-0.63
Calmar ratio: Return relative to maximum drawdown	2.06	43.28	-41.22
Martin ratio: Return relative to average drawdown	5.39	163.33	-157.95

SOYB vs. BWET - Sharpe Ratio Comparison

The current SOYB Sharpe Ratio is 1.40, which is lower than the BWET Sharpe Ratio of 17.02. The chart below compares the historical Sharpe Ratios of SOYB 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

SOYB vs. BWET - Drawdown Comparison

The maximum SOYB drawdown since its inception was -53.76%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for SOYB and BWET.

Drawdown Indicators

	SOYB	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-53.76%	-56.90%	+3.14%
Max Drawdown (1Y) Largest decline over 1 year	-8.78%	-41.22%	+32.44%
Max Drawdown (3Y) Largest decline over 3 years	-31.01%	-56.81%	+25.80%
Max Drawdown (5Y) Largest decline over 5 years	-31.01%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.93%	—	—
Current Drawdown Current decline from peak	-13.58%	-3.12%	-10.46%
Average Drawdown Average peak-to-trough decline	-25.69%	-23.71%	-1.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.36%	10.90%	-7.54%

Volatility

SOYB vs. BWET - Volatility Comparison

The current volatility for Teucrium Soybean Fund (SOYB) is 4.43%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 42.90%. This indicates that SOYB 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

	SOYB	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	42.90%	-38.47%
Volatility (6M) Calculated over the trailing 6-month period	9.48%	95.43%	-85.95%
Volatility (1Y) Calculated over the trailing 1-year period	12.95%	105.04%	-92.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.12%	73.53%	-56.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.76%	73.53%	-56.77%

SOYB vs. BWET - Expense Ratio Comparison

SOYB has a 1.88% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

SOYB vs. BWET - Dividend Comparison

Neither SOYB nor BWET has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SOYB and BWET in my portfolio?

SOYB 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, SOYB or BWET?

BWET has higher volatility (42.90%) compared to SOYB (4.43%). In terms of maximum drawdown, SOYB dropped -53.76% vs BWET's -56.90%.

Which ETF is better, SOYB or BWET?

On 3-year performance, BWET leads with 120.49% vs -3.57% for SOYB. On fees, SOYB is cheaper at 1.88% per year. On volatility, SOYB has been the lower-risk option at 4.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOYB or BWET?

Over the 3-year period, BWET has performed better with a 120.49% return vs -3.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOYB or BWET?

SOYB is cheaper with a 1.88% expense ratio, compared with 3.50% for BWET.

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

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

What is the main difference between SOYB and BWET?

SOYB is categorized as Agricultural Commodities, while BWET is Commodities. SOYB tracks Teucrium Soybean Fund Benchmark, while BWET tracks Breakwave Wet Freight Futures Index. They also come from different issuers: Teucrium and Amplify. Their fees differ too: 1.88% for SOYB and 3.50% for BWET.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (17.02 vs 1.40), 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.