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Data as of Oct 28, 2026.

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BWET vs EWJ: Differences, Returns & Fees

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BWET is a commodity futures fund and EWJ an equity index fund, and over the year to Oct 28, 2026, BWET returned +5,121.7% against +18.1%.

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Net assets on Oct 28, 2026: $178m for Breakwave Tanker Shipping ETF and $23.9bn for iShares MSCI Japan ETF.

BWET on its own →EWJ on its own →
At a glance
+5,121.7%
BWET total return, 1 year
+18.1%
EWJ total return, 1 year
4.68%
BWET expense ratio
0.49%
EWJ expense ratio

Pair scorecard

EWJ costs 4.19 points a year less; their one-year returns differ by 5103.6 points; EWJ is far larger, $23.9bn against $178m.

BWET vs EWJ: Differences, Returns & Fees
MeasureBWETEWJ
Return
Total return, 1 year+5,121.7%+18.1%
Drawdown
Below its high11.2%, high on Oct 8, 20264.4%, high on Oct 6, 2026
Benchmark
What it tracksTanker freight futuresMSCI Japan Index
Cost and size
Expense ratio4.68%0.49%
Net assets$178m$23.9bn
Holdings
Holdings in commonnot published
In the S&P 500, by weight0%
Holdings datedOct 27, 2026
Top ten holdings, share of the fund29.5%

Method

Side by side

BWET Breakwave Tanker Shipping ETF EWJ iShares MSCI Japan ETF
Where it sits Commodity ETF Stock ETF
Issuer Breakwave iShares
What it is Holds tanker freight futures Tracks the MSCI Japan
Total return, 1 year +5,121.7% +18.1%
Its benchmark over the same days not measured +14.3% (ACWX)
Gap to its benchmark not measured +3.8 pts vs ACWX
Expense ratio 4.68% 0.49%
Holdings not counted 169
Net assets $178m $23.9bn

BWET and EWJ on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

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About each fund
BWET

Its expense ratio is 4.68%, for the year to Jun 30, 2026, as its 10-K states.

BWET holds tanker freight futures. Over the year to Oct 28, 2026 it returned +5,121.7% with distributions reinvested. It sat 11.2% below its high of Oct 8, 2026 on Oct 28, 2026.

EWJ

EWJ tracks the MSCI Japan. Over the year to Oct 28, 2026 it returned +18.1% with distributions reinvested, against +14.3% for its benchmark, the MSCI ACWI ex USA Index. The prospectus expense ratio is 0.49% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 169 positions, with the top ten at 29.5%. It sat 4.4% below its high of Oct 6, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, BWET or EWJ?
In the year to Oct 28, 2026, with distributions reinvested, BWET returned +5,121.7% and EWJ +18.1%.
Which is cheaper, BWET or EWJ?
EWJ is cheaper, by 4.19 percentage points a year. That is about $419 on $10,000 held for a year. Fees come from each fund's own filings.
Other comparisons
BWET vs EWTBWET vs EWZBWET vs EZUBWET vs VPLEWJ vs USOEWJ vs SIVREWJ vs SLVEWJ vs GLDM
Where to next
BWET on its own →EWJ on its own →Hold both: look the portfolio through →Rankings →EWJ dividend history →EWJ holdings →Standards and sources →
Sources and dates
Breakwave page for BWET ↗
EWJ filings on SEC EDGAR ↗
EWJ prospectus with the expense ratio (SEC) ↗
iShares page for EWJ ↗

Links are sources, not endorsements. A comparison is not a recommendation.

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ETFIQ, BWET against EWJ, data as of Oct 28, 2026. https://etfiq.com/compare/any/bwet-vs-ewj

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