WAR vs. BWET

Last updated Jun 24, 2026

WAR (U.S. Global Technology and Aerospace & Defense ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - WAR is a Aerospace & Defense fund actively managed by US Global, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. WAR is actively managed, while BWET is passively managed. At a 0.35 correlation, their price movements are largely independent. WAR charges 0.60%/yr vs 3.50%/yr for BWET.

Performance

WAR vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in U.S. Global Technology and Aerospace & Defense ETF (WAR) and Breakwave Tanker Shipping ETF (BWET). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

WAR

• 1D: -4.72%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 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)

WAR vs. BWET - Yearly Performance Comparison

	2026 (YTD)
WAR U.S. Global Technology and Aerospace & Defense ETF	-4.38%
BWET Breakwave Tanker Shipping ETF	18.43%

Correlation

The correlation between WAR and BWET is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 26, 2026	0.35

Return for Risk

WAR vs. BWET — Risk / Return Rank

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

WAR

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

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.

WAR vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for U.S. Global Technology and Aerospace & Defense ETF (WAR) 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.

	WAR	BWET	Difference
Sharpe ratio: Return per unit of total volatility	—	14.65	—
Sortino ratio: Return per unit of downside risk	—	6.07	—
Omega ratio: Gain probability vs. loss probability	—	1.87	—
Calmar ratio: Return relative to maximum drawdown	—	47.03	—
Martin ratio: Return relative to average drawdown	—	147.28	—

Drawdowns

WAR vs. BWET - Drawdown Comparison

The maximum WAR drawdown since its inception was -13.13%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for WAR and BWET.

Drawdown Indicators

	WAR	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-13.13%	-56.90%	+43.77%
Max Drawdown (1Y) Largest decline over 1 year	—	-30.64%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-56.81%	—
Current Drawdown Current decline from peak	-10.38%	-5.48%	-4.90%
Average Drawdown Average peak-to-trough decline	-5.48%	-23.76%	+18.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.60%	—

Volatility

Volatility by Period

	WAR	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	26.27%	—
Volatility (6M) Calculated over the trailing 6-month period	—	89.01%	—
Volatility (1Y) Calculated over the trailing 1-year period	52.90%	98.57%	-45.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.90%	70.47%	-17.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.90%	70.47%	-17.57%

WAR vs. BWET - Expense Ratio Comparison

WAR has a 0.60% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

WAR vs. BWET - Dividend Comparison

Neither WAR nor BWET has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both WAR and BWET in my portfolio?

WAR and BWET have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WAR or BWET?

On fees, WAR is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WAR or BWET?

WAR is cheaper with a 0.60% expense ratio, compared with 3.50% for BWET.

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

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

What is the main difference between WAR and BWET?

WAR is categorized as Aerospace & Defense, while BWET is Commodities. They also come from different issuers: US Global and Amplify. Their fees differ too: 0.60% for WAR and 3.50% for BWET.