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Data as of Oct 28, 2026.

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BWET vs GOVT: Differences, Returns & Fees

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BWET is a commodity futures fund and GOVT a bond index fund, and over the year to Oct 28, 2026, BWET returned +5,121.7% against −1.5%.

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Net assets: $178m on Oct 28, 2026 for Breakwave Tanker Shipping ETF, and $42.8bn on Oct 27, 2026 for iShares U.S. Treasury Bond ETF.

BWET on its own →GOVT on its own →
At a glance
+5,121.7%
BWET total return, 1 year
−1.5%
GOVT total return, 1 year
4.68%
BWET expense ratio
0.05%
GOVT expense ratio

Pair scorecard

GOVT costs 4.63 points a year less; their one-year returns differ by 5123.2 points; GOVT is far larger, $42.8bn against $186m.

BWET vs GOVT: Differences, Returns & Fees
MeasureBWETGOVT
Return
Total return, 1 year+5,121.7%−1.5%
Drawdown
Below its high11.2%, high on Oct 8, 20268.1%, high on Aug 4, 2020
Benchmark
What it tracksTanker freight futuresICE U.S. Treasury Core Bond Index
Cost and size
Expense ratio4.68%0.05%
Net assets, as of Oct 26, 2026$186m$42.8bn
Holdings
Holdings in commonnot published

Method

Side by side

BWET Breakwave Tanker Shipping ETF GOVT iShares U.S. Treasury Bond ETF
Where it sits Commodity ETF Bond ETF
Issuer Breakwave iShares
What it is Holds tanker freight futures Tracks an index of U.S. Treasury Bond
Total return, 1 year +5,121.7% −1.5%
Expense ratio 4.68% 0.05%
Holdings not counted 229
Net assets, BWET as of Oct 28, 2026 and GOVT as of Oct 27, 2026 $178m $42.8bn

BWET and GOVT 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.

GOVT

GOVT tracks an index of U.S. Treasury Bond. Over the year to Oct 28, 2026 it returned −1.5% with distributions reinvested. The prospectus expense ratio is 0.05% a year. It sat 8.1% below its high of Aug 4, 2020 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, BWET or GOVT?
In the year to Oct 28, 2026, with distributions reinvested, BWET returned +5,121.7% and GOVT −1.5%.
Which is cheaper, BWET or GOVT?
GOVT is cheaper, by 4.63 percentage points a year. That is about $463 on $10,000 held for a year. Fees come from each fund's own filings.
Other comparisons
BWET vs IEFBWET vs VGITBWET vs VGSHBWET vs JAAAGOVT vs USOGOVT vs SIVRGOVT vs SLVGLDM vs GOVT
Where to next
BWET on its own →GOVT on its own →Hold both: look the portfolio through →Rankings →GOVT dividend history →GOVT holdings →Standards and sources →
Sources and dates
Breakwave page for BWET ↗
GOVT filings on SEC EDGAR ↗
GOVT prospectus with the expense ratio (SEC) ↗
iShares page for GOVT ↗

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

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

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