TESL vs. BWET

Last updated Jun 24, 2026

TESL (Simplify Volt TSLA Revolution ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - TESL is a Large Cap Growth Equities fund tracking the Actively Managed, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. Both are passively managed. Over the past 3 years, TESL returned 26.19%/yr vs 123.86%/yr for BWET. At a correlation of -0.01, they often move in opposite directions. TESL charges 0.97%/yr vs 3.50%/yr for BWET.

Performance

TESL vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Volt TSLA Revolution ETF (TESL) 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, TESL achieves a -12.28% return, which is significantly lower than BWET's 968.33% return.

TESL

• 1D: -6.80%
• 1M: -14.12%
• YTD: -12.28%
• 6M: -17.99%
• 1Y: -31.81%
• 3Y*: 26.19%
• 5Y*: 8.82%
• 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)

TESL vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TESL Simplify Volt TSLA Revolution ETF	-12.28%	-14.73%	152.27%	33.41%
BWET Breakwave Tanker Shipping ETF	968.33%	96.22%	-39.21%	14.13%

Correlation

The correlation between TESL 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	-0.01

Return for Risk

TESL vs. BWET — Risk / Return Rank

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

TESL

TESL Risk / Return Rank: 5
TESL Sharpe Ratio Rank: 4
TESL Sortino Ratio Rank: 5
TESL Omega Ratio Rank: 5
TESL Calmar Ratio Rank: 4
TESL Martin Ratio Rank: 5

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.

TESL vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Volt TSLA Revolution ETF (TESL) 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.

	TESL	BWET	Difference
Sharpe ratio: Return per unit of total volatility	-0.57	14.65	-15.22
Sortino ratio: Return per unit of downside risk	-0.56	6.07	-6.63
Omega ratio: Gain probability vs. loss probability	0.93	1.87	-0.94
Calmar ratio: Return relative to maximum drawdown	-0.57	47.03	-47.60
Martin ratio: Return relative to average drawdown	-0.98	147.28	-148.26

TESL vs. BWET - Sharpe Ratio Comparison

The current TESL Sharpe Ratio is -0.57, which is lower than the BWET Sharpe Ratio of 14.65. The chart below compares the historical Sharpe Ratios of TESL 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

TESL vs. BWET - Drawdown Comparison

The maximum TESL drawdown since its inception was -69.11%, which is greater than BWET's maximum drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for TESL and BWET.

Drawdown Indicators

	TESL	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-69.11%	-56.90%	-12.21%
Max Drawdown (1Y) Largest decline over 1 year	-56.12%	-30.64%	-25.48%
Max Drawdown (3Y) Largest decline over 3 years	-56.12%	-56.81%	+0.69%
Max Drawdown (5Y) Largest decline over 5 years	-69.11%	—	—
Current Drawdown Current decline from peak	-45.57%	-5.48%	-40.09%
Average Drawdown Average peak-to-trough decline	-37.71%	-23.76%	-13.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.64%	11.60%	+21.04%

Volatility

TESL vs. BWET - Volatility Comparison

The current volatility for Simplify Volt TSLA Revolution ETF (TESL) is 15.88%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 26.27%. This indicates that TESL 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

	TESL	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.88%	26.27%	-10.39%
Volatility (6M) Calculated over the trailing 6-month period	41.68%	89.01%	-47.33%
Volatility (1Y) Calculated over the trailing 1-year period	57.85%	98.57%	-40.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.05%	70.47%	-19.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.14%	70.47%	-20.33%

TESL vs. BWET - Expense Ratio Comparison

TESL has a 0.97% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

TESL vs. BWET - Dividend Comparison

TESL's dividend yield for the trailing twelve months is around 26.22%, while BWET has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
BWET Breakwave Tanker Shipping ETF	0.00%	0.00%	0.00%	0.00%	0.00%
TESL Simplify Volt TSLA Revolution ETF	26.22%	23.87%	0.62%	0.00%	0.83%

Frequently Asked Questions

Can I hold both TESL and BWET in my portfolio?

TESL 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.

Which is riskier, TESL or BWET?

BWET has higher volatility (26.27%) compared to TESL (15.88%). In terms of maximum drawdown, TESL dropped -69.11% vs BWET's -56.90%.

Which ETF is better, TESL or BWET?

On 3-year performance, BWET leads with 123.86% vs 26.19% for TESL. On fees, TESL is cheaper at 0.97% per year. On volatility, TESL has been the lower-risk option at 15.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TESL or BWET?

Over the 3-year period, BWET has performed better with a 123.86% return vs 26.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TESL or BWET?

TESL is cheaper with a 0.97% expense ratio, compared with 3.50% for BWET.

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

TESL has the higher dividend yield at 26.22%, compared with 0.00% for BWET.

What is the main difference between TESL and BWET?

TESL is categorized as Large Cap Growth Equities, while BWET is Commodities. TESL tracks Actively Managed, while BWET tracks Breakwave Wet Freight Futures Index. They also come from different issuers: Simplify and Amplify. Their fees differ too: 0.97% for TESL and 3.50% for BWET.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (14.65 vs -0.57), 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.