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Data as of Oct 28, 2026.

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BWET vs EWZ: Differences, Returns & Fees

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BWET is a commodity futures fund and EWZ an equity index fund, and over the year to Oct 28, 2026, BWET returned +5,121.7% against +13.7%.

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Net assets on Oct 28, 2026: $178m for Breakwave Tanker Shipping ETF and $10.3bn for iShares MSCI Brazil ETF.

BWET on its own →EWZ on its own →
At a glance
+5,121.7%
BWET total return, 1 year
+13.7%
EWZ total return, 1 year
4.68%
BWET expense ratio
0.59%
EWZ expense ratio

Pair scorecard

EWZ costs 4.09 points a year less; their one-year returns differ by 5108.0 points; EWZ is far larger, $10.3bn against $178m.

BWET vs EWZ: Differences, Returns & Fees
MeasureBWETEWZ
Return
Total return, 1 year+5,121.7%+13.7%
Drawdown
Below its high11.2%, high on Oct 8, 202625.4%, high on May 20, 2008
Benchmark
What it tracksTanker freight futuresMSCI Brazil 25/50 Index
Cost and size
Expense ratio4.68%0.59%
Net assets$178m$10.3bn
Holdings
Holdings in commonnot published
In the S&P 500, by weight0%
Holdings datedOct 27, 2026
Top ten holdings, share of the fund57.5%

Method

Side by side

BWET Breakwave Tanker Shipping ETF EWZ iShares MSCI Brazil ETF
Where it sits Commodity ETF Stock ETF
Issuer Breakwave iShares
What it is Holds tanker freight futures Tracks the MSCI Brazil
Total return, 1 year +5,121.7% +13.7%
Expense ratio 4.68% 0.59%
Holdings not counted 59
Net assets $178m $10.3bn

BWET and EWZ 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.

EWZ

EWZ tracks the MSCI Brazil. Over the year to Oct 28, 2026 it returned +13.7% with distributions reinvested. The prospectus expense ratio is 0.59% 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 59 positions, with the top ten at 57.5%. It sat 25.4% below its high of May 20, 2008 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, BWET or EWZ?
In the year to Oct 28, 2026, with distributions reinvested, BWET returned +5,121.7% and EWZ +13.7%.
Which is cheaper, BWET or EWZ?
EWZ is cheaper, by 4.09 percentage points a year. That is about $409 on $10,000 held for a year. Fees come from each fund's own filings.
Other comparisons
BWET vs ILFBWET vs FENIBWET vs EZUBWET vs VPLEWZ vs USOEWZ vs SIVREWZ vs SLVEWZ vs GLDM
Where to next
BWET on its own →EWZ on its own →Hold both: look the portfolio through →Rankings →EWZ dividend history →EWZ holdings →Standards and sources →
Sources and dates
Breakwave page for BWET ↗
EWZ filings on SEC EDGAR ↗
EWZ prospectus with the expense ratio (SEC) ↗
iShares page for EWZ ↗

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

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

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