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Data as of Oct 28, 2026.

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Across categories

BWET vs GDX: Differences, Returns & Fees

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Over the year to Oct 28, 2026, BWET returned +5,121.7% to GDX's +19.0%, and GDX charges 0.51% to BWET's 4.68%.

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Net assets: $178m on Oct 28, 2026 for Breakwave Tanker Shipping ETF, and $25.6bn on Oct 27, 2026 for VanEck Gold Miners ETF.

BWET on its own →GDX on its own →
At a glance
+5,121.7%
BWET total return, 1 year
+19.0%
GDX total return, 1 year
4.68%
BWET expense ratio
0.51%
GDX expense ratio

Pair scorecard

GDX costs 4.17 points a year less; their one-year returns differ by 5102.7 points; GDX is far larger, $24.7bn against $166m.

BWET vs GDX: Differences, Returns & Fees
MeasureBWETGDX
Return
Total return, 1 year+5,121.7%+19.0%
Drawdown
Below its high11.2%, high on Oct 8, 2026
Below its all-time high27.5%, high on Feb 27, 2026
Against its benchmark
What it tracksTanker freight futuresGold miners
Against its benchmark, 1 yearahead by 5.6 pts
Cost and size
Expense ratio4.68%0.51%
Net assets, as of Oct 23, 2026$166m$24.7bn
Active share vs the S&P 500100%
Holdings
Holdings in commonnot published
In the S&P 500, by weight12%
Top ten holdings, share of the fund60%

Method

Side by side

BWET Breakwave Tanker Shipping ETF GDX VanEck Gold Miners ETF
Where it sits Commodity ETF Thematic ETF
Issuer Breakwave VanEck
What it is Holds tanker freight futures Gold miners
Total return, 1 year +5,121.7% +19.0%
Its benchmark over the same days not measured +13.4% (ACWI)
Gap to its benchmark not measured +5.6 pts vs ACWI
Expense ratio 4.68% 0.51%
Holdings not counted 59
Net assets, BWET as of Oct 28, 2026 and GDX as of Oct 27, 2026 $178m $25.6bn

BWET and GDX 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.

GDX

By weight, 12% of GDX's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 60% of the fund across 59 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned +19.0% with distributions reinvested against +13.4% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 5.6 pts. It sits 27.5% below its all-time high of Feb 27, 2026.

Questions people ask

Are BWET and GDX in the same category?
BWET is a commodity ETF and GDX is a thematic ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
Which returned more over the last year, BWET or GDX?
In the year to Oct 28, 2026, with distributions reinvested, BWET returned +5,121.7% and GDX +19.0%.
Which is cheaper, BWET or GDX?
GDX is cheaper, by 4.17 percentage points a year. That is about $417 on $10,000 held for a year. Fees come from each fund's own filings.
Other comparisons
BWET vs LYTEBWET vs IBBBWET vs XBIBWET vs REMXGDX vs IAUMGDX vs USOGDX vs SLVGDX vs GLDM
Where to next
BWET on its own →GDX on its own →Hold both: look the portfolio through →Rankings →GDX dividend history →GDX holdings →Standards and sources →
Sources and dates
Breakwave page for BWET ↗
GDX filings on SEC EDGAR ↗
GDX prospectus with the expense ratio (SEC) ↗
VanEck website ↗

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

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

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