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Data as of Oct 28, 2026.

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BWET vs LQD: Differences, Returns & Fees

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BWET is a commodity futures fund and LQD a bond index fund, and over the year to Oct 28, 2026, BWET returned +5,121.7% against −3.4%.

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Net assets: $178m on Oct 28, 2026 for Breakwave Tanker Shipping ETF, and $30.6bn on Oct 27, 2026 for iShares iBoxx $ Investment Grade Corporate Bond ETF.

BWET on its own →LQD on its own →
At a glance
+5,121.7%
BWET total return, 1 year
−3.4%
LQD total return, 1 year
4.68%
BWET expense ratio
0.14%
LQD expense ratio

Pair scorecard

LQD costs 4.54 points a year less; their one-year returns differ by 5125.1 points; LQD is far larger, $30.2bn against $166m.

BWET vs LQD: Differences, Returns & Fees
MeasureBWETLQD
Return
Total return, 1 year+5,121.7%−3.4%
Drawdown
Below its high11.2%, high on Oct 8, 20266.3%, high on Sep 22, 2021
Benchmark
What it tracksTanker freight futuresMarkit iBoxx USD Liquid Investment Grade Index
Cost and size
Expense ratio4.68%0.14%
Net assets, as of Oct 23, 2026$166m$30.2bn
Holdings
Holdings in commonnot published

Method

Side by side

BWET Breakwave Tanker Shipping ETF LQD iShares iBoxx $ Investment Grade Corporate Bond ETF
Where it sits Commodity ETF Bond ETF
Issuer Breakwave iShares
What it is Holds tanker freight futures Tracks an index of US investment grade bonds
Total return, 1 year +5,121.7% −3.4%
Its benchmark over the same days not measured −1.2% (IUSB)
Gap to its benchmark not measured −2.2 pts vs IUSB
Expense ratio 4.68% 0.14%
Holdings not counted 3191
Net assets, BWET as of Oct 28, 2026 and LQD as of Oct 27, 2026 $178m $30.6bn

BWET and LQD 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.

LQD

LQD tracks an index of US investment grade bonds. Over the year to Oct 28, 2026 it returned −3.4% with distributions reinvested, against −1.2% for its benchmark, the Bloomberg U.S. Universal Index. The prospectus expense ratio is 0.14% a year. It sat 6.3% below its high of Sep 22, 2021 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, BWET or LQD?
In the year to Oct 28, 2026, with distributions reinvested, BWET returned +5,121.7% and LQD −3.4%.
Which is cheaper, BWET or LQD?
LQD is cheaper, by 4.54 percentage points a year. That is about $454 on $10,000 held for a year. Fees come from each fund's own filings.
Other comparisons
BWET vs IGIBBWET vs VCITBWET vs PFFBWET vs JAAALQD vs USOLQD vs SIVRLQD vs SLVGLDM vs LQD
Where to next
BWET on its own →LQD on its own →Hold both: look the portfolio through →Rankings →LQD dividend history →LQD holdings →Standards and sources →
Sources and dates
Breakwave page for BWET ↗
LQD filings on SEC EDGAR ↗
LQD prospectus with the expense ratio (SEC) ↗
iShares page for LQD ↗

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

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

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