Which returned more over the last year, BWET or GLDM?

In the year to Oct 28, 2026, with distributions reinvested, BWET returned +5,121.7% and GLDM +2.8%.

Which is cheaper, BWET or GLDM?

GLDM is cheaper, by 4.58 percentage points a year. That is about $458 on $10,000 held for a year. Fees come from each fund's own filings.

Data as of Oct 28, 2026.

Across categories

BWET vs GLDM: Differences, Returns & Fees

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BWET is a commodity futures fund and GLDM a commodity fund, and over the year to Oct 28, 2026, BWET returned +5,121.7% against +2.8%.

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Net assets: $178m on Oct 28, 2026 for Breakwave Tanker Shipping ETF, and $30.6bn on Oct 27, 2026 for SPDR Gold MiniShares Trust.

BWET on its own →GLDM on its own →

At a glance

+5,121.7%

BWET total return, 1 year

+2.8%

GLDM total return, 1 year

4.68%

BWET expense ratio

0.10%

GLDM expense ratio

Pair scorecard

GLDM costs 4.58 points a year less; their one-year returns differ by 5118.9 points; GLDM is far larger, $30.4bn against $186m.

BWET vs GLDM: Differences, Returns & Fees
Measure	BWET	GLDM
Return
Measure	BWET	GLDM
Total return, 1 year	+5,121.7%	+2.8%
Drawdown
Measure	BWET	GLDM
Below its high	11.2%, high on Oct 8, 2026	24.5%, high on Jan 29, 2026
Benchmark
Measure	BWET	GLDM
What it tracks	Tanker freight futures	Gold
Cost and size
Measure	BWET	GLDM
Expense ratio	4.68%	0.10%
Net assets, as of Oct 26, 2026	$186m	$30.4bn
Holdings
Measure	BWET	GLDM
Holdings in common	not published

Method

Side by side

BWET Breakwave Tanker Shipping ETF GLDM SPDR Gold MiniShares Trust

Where it sits Commodity ETF Commodity ETF

Issuer Breakwave State Street

What it is Holds tanker freight futures Holds gold

Total return, 1 year +5,121.7% +2.8%

Its benchmark over the same days not measured +2.5% (GLD)

Gap to its benchmark not measured +0.3 pts vs GLD

Expense ratio 4.68% 0.10%

Net assets, BWET as of Oct 28, 2026 and GLDM as of Oct 27, 2026 $178m $30.6bn

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

Alert

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.

GLDM

Its expense ratio is 0.10% a year, for the three months to Jun 30, 2026, as its 10-Q states.

GLDM holds gold. Over the year to Oct 28, 2026 it returned +2.8% with distributions reinvested, against +2.5% for its benchmark, the price of gold. It sat 24.5% below its high of Jan 29, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, BWET or GLDM?: In the year to Oct 28, 2026, with distributions reinvested, BWET returned +5,121.7% and GLDM +2.8%.
Which is cheaper, BWET or GLDM?: GLDM is cheaper, by 4.58 percentage points a year. That is about $458 on $10,000 held for a year. Fees come from each fund's own filings.

Other comparisons

BWET vs SLV BWET vs GLD BWET vs SIVR BWET vs USO GLDM vs SLV GLDM vs IAU FGDL vs GLDM GLDM vs SIVR

Where to next

BWET on its own →GLDM on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Sources and dates

Breakwave page for BWET ↗

State Street website ↗

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

Cite this pageCitation, APA and Markdown

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

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.