YBTC vs. BWET

Last updated Jun 5, 2026

YBTC (Roundhill Bitcoin Covered Call Strategy ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - YBTC is a Cryptocurrency fund actively managed by Roundhill, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. YBTC is actively managed, while BWET is passively managed. Over the past year, YBTC returned -36.84% vs 2014.90% for BWET. At a correlation of -0.07, they often move in opposite directions. YBTC charges 0.95%/yr vs 3.50%/yr for BWET.

Performance

YBTC vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Bitcoin Covered Call Strategy ETF (YBTC) 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, YBTC achieves a -25.51% return, which is significantly lower than BWET's 990.13% return.

YBTC

• 1D: -2.77%
• 1M: -19.76%
• YTD: -25.51%
• 6M: -28.64%
• 1Y: -36.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BWET

• 1D: 11.71%
• 1M: -0.90%
• YTD: 990.13%
• 6M: 857.64%
• 1Y: 2,014.90%
• 3Y*: 145.24%
• 5Y*: —
• 10Y*: —

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

YBTC vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025	2024
YBTC Roundhill Bitcoin Covered Call Strategy ETF	-25.51%	-4.23%	58.55%
BWET Breakwave Tanker Shipping ETF	990.13%	96.22%	-44.37%

Correlation

The correlation between YBTC and BWET is -0.12, 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	-0.12
Correlation (All Time) Calculated using the full available price history since Jan 19, 2024	-0.07

Return for Risk

YBTC vs. BWET — Risk / Return Rank

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

YBTC

YBTC Risk / Return Rank: 2
YBTC Sharpe Ratio Rank: 2
YBTC Sortino Ratio Rank: 2
YBTC Omega Ratio Rank: 2
YBTC Calmar Ratio Rank: 2
YBTC Martin Ratio Rank: 2

BWET

BWET Risk / Return Rank: 99
BWET Sharpe Ratio Rank: 100
BWET Sortino Ratio Rank: 98
BWET Omega Ratio Rank: 98
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.

YBTC vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Bitcoin Covered Call Strategy ETF (YBTC) 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.

	YBTC	BWET	Difference
Sharpe ratio: Return per unit of total volatility	-0.94	20.67	-21.61
Sortino ratio: Return per unit of downside risk	-1.27	6.77	-8.04
Omega ratio: Gain probability vs. loss probability	0.84	1.99	-1.15
Calmar ratio: Return relative to maximum drawdown	-0.78	66.60	-67.39
Martin ratio: Return relative to average drawdown	-1.43	176.91	-178.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

YBTC vs. BWET - Sharpe Ratio Comparison

The current YBTC Sharpe Ratio is -0.94, which is lower than the BWET Sharpe Ratio of 20.67. The chart below compares the historical Sharpe Ratios of YBTC 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

	YBTC	BWET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.94	20.67	-21.61
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	2.01	-1.88

Drawdowns

YBTC vs. BWET - Drawdown Comparison

The maximum YBTC drawdown since its inception was -47.09%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for YBTC and BWET.

Drawdown Indicators

	YBTC	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-47.09%	-56.90%	+9.81%
Max Drawdown (1Y) Largest decline over 1 year	-47.09%	-30.64%	-16.45%
Max Drawdown (3Y) Largest decline over 3 years	—	-56.90%	—
Current Drawdown Current decline from peak	-45.60%	-0.90%	-44.70%
Average Drawdown Average peak-to-trough decline	-12.94%	-24.06%	+11.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.85%	11.51%	+14.34%

Volatility

YBTC vs. BWET - Volatility Comparison

The current volatility for Roundhill Bitcoin Covered Call Strategy ETF (YBTC) is 8.73%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 28.88%. This indicates that YBTC 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

	YBTC	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.73%	28.88%	-20.15%
Volatility (6M) Calculated over the trailing 6-month period	31.30%	88.79%	-57.49%
Volatility (1Y) Calculated over the trailing 1-year period	39.25%	98.73%	-59.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.82%	70.70%	-29.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.82%	70.70%	-29.88%

YBTC vs. BWET - Expense Ratio Comparison

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

Dividends

YBTC vs. BWET - Dividend Comparison

YBTC's dividend yield for the trailing twelve months is around 90.64%, while BWET has not paid dividends to shareholders.

Position	TTM	2025	2024
BWET Breakwave Tanker Shipping ETF	0.00%	0.00%	0.00%
YBTC Roundhill Bitcoin Covered Call Strategy ETF	90.64%	76.04%	44.53%

Frequently Asked Questions

Can I hold both YBTC and BWET in my portfolio?

YBTC and BWET have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YBTC or BWET?

BWET has higher volatility (28.88%) compared to YBTC (8.73%). In terms of maximum drawdown, YBTC dropped -47.09% vs BWET's -56.90%.

Which ETF is better, YBTC or BWET?

On 1-year performance, BWET leads with 2014.90% vs -36.84% for YBTC. On fees, YBTC is cheaper at 0.95% per year. On volatility, YBTC has been the lower-risk option at 8.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YBTC or BWET?

Over the 1-year period, BWET has performed better with a 2014.90% return vs -36.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YBTC or BWET?

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

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

YBTC has the higher dividend yield at 90.64%, compared with 0.00% for BWET.

What is the main difference between YBTC and BWET?

YBTC is categorized as Cryptocurrency, while BWET is Commodities. They also come from different issuers: Roundhill and Amplify. Their fees differ too: 0.95% for YBTC and 3.50% for BWET.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (20.67 vs -0.94), 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.