WTMF vs. BWET

Last updated Jun 4, 2026

WTMF (WisdomTree Managed Futures Strategy Fund) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - WTMF is a Hedge Fund fund tracking the WisdomTree Managed Futures Index, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. Both are passively managed. Over the past 3 years, WTMF returned 9.77%/yr vs 129.64%/yr for BWET. At a 0.02 correlation, their price movements are largely independent. WTMF charges 0.65%/yr vs 3.50%/yr for BWET.

Performance

WTMF vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Managed Futures Strategy Fund (WTMF) 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, WTMF achieves a 8.50% return, which is significantly lower than BWET's 875.88% return.

WTMF

• 1D: -0.02%
• 1M: 1.05%
• YTD: 8.50%
• 6M: 8.44%
• 1Y: 22.55%
• 3Y*: 9.77%
• 5Y*: 6.17%
• 10Y*: 3.26%

BWET

• 1D: 4.26%
• 1M: 9.15%
• YTD: 875.88%
• 6M: 735.56%
• 1Y: 1,800.91%
• 3Y*: 129.64%
• 5Y*: —
• 10Y*: —

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

WTMF vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WTMF WisdomTree Managed Futures Strategy Fund	8.50%	12.17%	3.20%	8.36%
BWET Breakwave Tanker Shipping ETF	875.88%	96.22%	-39.21%	15.94%

Correlation

The correlation between WTMF and BWET is -0.11, 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	-0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (All Time) Calculated using the full available price history since May 4, 2023	0.02

The correlation between WTMF and BWET shifts across timeframes, from -0.11 (1 year) to 0.02 (3 years), reflecting how their relationship changes across market environments.

WTMF vs. BWET - Sectors Allocation Comparison

Sectors	WTMF	BWET
Industrials	17.7%	-
Technology	17.0%	-
Healthcare	16.5%	-
Financial Services	15.8%	8.6%
Consumer Cyclical	8.4%	-
Real Estate	6.1%	-
Energy	6.1%	-
Basic Materials	4.8%	-
Utilities	2.9%	-
Communication Services	2.4%	-
Consumer Defensive	2.4%	-

Return for Risk

WTMF vs. BWET — Risk / Return Rank

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

WTMF

WTMF Risk / Return Rank: 85
WTMF Sharpe Ratio Rank: 80
WTMF Sortino Ratio Rank: 79
WTMF Omega Ratio Rank: 83
WTMF Calmar Ratio Rank: 90
WTMF Martin Ratio Rank: 93

BWET

BWET Risk / Return Rank: 99
BWET Sharpe Ratio Rank: 100
BWET Sortino Ratio Rank: 97
BWET Omega Ratio Rank: 97
BWET Calmar Ratio Rank: 100
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.

WTMF vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Managed Futures Strategy Fund (WTMF) 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.

	WTMF	BWET	Difference
Sharpe ratio: Return per unit of total volatility	2.62	18.57	-15.95
Sortino ratio: Return per unit of downside risk	3.60	6.55	-2.95
Omega ratio: Gain probability vs. loss probability	1.51	1.96	-0.45
Calmar ratio: Return relative to maximum drawdown	5.61	59.51	-53.90
Martin ratio: Return relative to average drawdown	25.08	158.07	-132.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WTMF vs. BWET - Sharpe Ratio Comparison

The current WTMF Sharpe Ratio is 2.62, which is lower than the BWET Sharpe Ratio of 18.57. The chart below compares the historical Sharpe Ratios of WTMF 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.

Sharpe Ratios by Period

	WTMF	BWET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.62	18.57	-15.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	1.90	-1.75

Drawdowns

WTMF vs. BWET - Drawdown Comparison

The maximum WTMF drawdown since its inception was -30.79%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for WTMF and BWET.

Drawdown Indicators

	WTMF	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-30.79%	-56.90%	+26.11%
Max Drawdown (1Y) Largest decline over 1 year	-4.04%	-30.64%	+26.60%
Max Drawdown (3Y) Largest decline over 3 years	-9.93%	-56.90%	+46.97%
Max Drawdown (5Y) Largest decline over 5 years	-13.21%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-15.99%	—	—
Current Drawdown Current decline from peak	-0.13%	-11.29%	+11.16%
Average Drawdown Average peak-to-trough decline	-17.71%	-24.09%	+6.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	11.51%	-10.61%

Volatility

WTMF vs. BWET - Volatility Comparison

The current volatility for WisdomTree Managed Futures Strategy Fund (WTMF) is 1.61%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 33.96%. This indicates that WTMF 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

	WTMF	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.61%	33.96%	-32.35%
Volatility (6M) Calculated over the trailing 6-month period	6.84%	88.49%	-81.65%
Volatility (1Y) Calculated over the trailing 1-year period	8.63%	98.35%	-89.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.46%	70.45%	-60.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.07%	70.45%	-62.38%

WTMF vs. BWET - Expense Ratio Comparison

WTMF has a 0.65% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

WTMF vs. BWET - Dividend Comparison

WTMF's dividend yield for the trailing twelve months is around 2.80%, while BWET has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BWET Breakwave Tanker Shipping ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WTMF WisdomTree Managed Futures Strategy Fund	2.80%	3.04%	3.57%	4.74%	5.29%	14.71%	0.47%	1.63%	3.59%

Frequently Asked Questions

Can I hold both WTMF and BWET in my portfolio?

WTMF and BWET have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WTMF or BWET?

BWET has higher volatility (33.96%) compared to WTMF (1.61%). In terms of maximum drawdown, WTMF dropped -30.79% vs BWET's -56.90%.

Which ETF is better, WTMF or BWET?

On 3-year performance, BWET leads with 129.64% vs 9.77% for WTMF. On fees, WTMF is cheaper at 0.65% per year. On volatility, WTMF has been the lower-risk option at 1.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WTMF or BWET?

Over the 3-year period, BWET has performed better with a 129.64% return vs 9.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WTMF or BWET?

WTMF is cheaper with a 0.65% expense ratio, compared with 3.50% for BWET.

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

WTMF has the higher dividend yield at 2.80%, compared with 0.00% for BWET.

What is the main difference between WTMF and BWET?

WTMF is categorized as Hedge Fund, while BWET is Commodities. WTMF tracks WisdomTree Managed Futures Index, while BWET tracks Breakwave Wet Freight Futures Index. They also come from different issuers: WisdomTree and Amplify. Their fees differ too: 0.65% for WTMF and 3.50% for BWET.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (18.57 vs 2.62), 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.