Data as of Oct 28, 2026.
BWET vs IEI: Differences, Returns & Fees
BWET is a commodity futures fund and IEI a bond index fund, and over the year to Oct 28, 2026, BWET returned +5,121.7% against −1.1%.
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Net assets: $178m on Oct 28, 2026 for Breakwave Tanker Shipping ETF, and $17.0bn on Oct 27, 2026 for iShares 3-7 Year Treasury Bond ETF.
Pair scorecard
IEI costs 4.53 points a year less; their one-year returns differ by 5122.8 points; IEI is far larger, $17.0bn against $186m.
| Measure | BWET | IEI |
|---|---|---|
| Return | ||
| Total return, 1 year | +5,121.7% | −1.1% |
| Drawdown | ||
| Below its high | 11.2%, high on Oct 8, 2026 | |
| Benchmark | ||
| What it tracks | Tanker freight futures | ICE U.S. Treasury 3-7 Year Bond Index |
| Cost and size | ||
| Expense ratio | 4.68% | 0.15% |
| Net assets, as of Oct 26, 2026 | $186m | $17.0bn |
| Holdings | ||
| Holdings in common | not published | |
Risk and return
May 12, 2023 to Oct 23, 2026 · 180 weekly returnsBWET returned more: +5,753.7% to +8.3%. IEI swung less: 4.1% to 87.4%. IEI fell less at its worst: −4.3% to −55.9%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | BWET | IEI | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +5,753.7% | +8.3% | BWET | Price change plus distributions, reinvested. |
| Annualized | +224.0% | +2.3% | BWET | Total return as a yearly rate. |
| Price return | +5,753.7% | −3.1% | BWET | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 87.4% | 4.1% | IEI | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 40.2% | 2.9% | IEI | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −55.9% | −4.3% | IEI | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 1.71 | −0.54 | BWET | Return above Treasury bills per unit of volatility. |
| Sortino | 3.72 | −0.74 | BWET | Return above Treasury bills per unit of downside deviation. |
| Calmar | 4.01 | 0.54 | BWET | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 180 weekly returns. Cash rate: the 13-week Treasury bill.
Side by side
BWET and IEI on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
No client brief for this pair: ETFIQ prints no one-year total return for 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.
IEI
IEI tracks an index of 3-7 Year Treasury Bond. Over the year to Oct 28, 2026 it returned −1.1% with distributions reinvested. The prospectus expense ratio is 0.15% a year.
Questions people ask
- Which returned more over the last year, BWET or IEI?
- In the year to Oct 28, 2026, with distributions reinvested, BWET returned +5,121.7% and IEI −1.1%.
- Which is cheaper, BWET or IEI?
- IEI is cheaper, by 4.53 percentage points a year. That is about $453 on $10,000 held for a year. Fees come from each fund's own filings.
Links are sources, not endorsements. A comparison is not a recommendation.
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ETFIQ, BWET against IEI, data as of Oct 28, 2026. https://etfiq.com/compare/any/bwet-vs-iei
ETFIQ. (Oct 28, 2026). BWET against IEI. Retrieved from https://etfiq.com/compare/any/bwet-vs-iei
[BWET against IEI (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/bwet-vs-iei)
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