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Data as of Oct 28, 2026.

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BWET vs MDY: Differences, Returns & Fees

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BWET is a commodity futures fund and MDY an equity index fund, and over the year to Oct 28, 2026, BWET returned +5,121.7% against +12.8%.

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Net assets: $178m on Oct 28, 2026 for Breakwave Tanker Shipping ETF, and $25.9bn on Oct 27, 2026 for SPDR S&P MidCap 400 ETF Trust.

BWET on its own →MDY on its own →
At a glance
+5,121.7%
BWET total return, 1 year
+12.8%
MDY total return, 1 year
4.68%
BWET expense ratio
0.23%
MDY expense ratio

Pair scorecard

MDY costs 4.45 points a year less; their one-year returns differ by 5108.9 points; MDY is far larger, $25.8bn against $186m.

BWET vs MDY: Differences, Returns & Fees
MeasureBWETMDY
Return
Total return, 1 year+5,121.7%+12.8%
Drawdown
Below its high11.2%, high on Oct 8, 20266.5%, high on Aug 14, 2026
Benchmark
What it tracksTanker freight futuresS&P MidCap 400 Index
Cost and size
Expense ratio4.68%0.23%
Net assets, as of Oct 26, 2026$186m$25.8bn
Holdings
Holdings in commonnot published
In the S&P 500, by weight0%
Top ten holdings, share of the fund7.5%

Method

Side by side

BWET Breakwave Tanker Shipping ETF MDY SPDR S&P MidCap 400 ETF Trust
Where it sits Commodity ETF Stock ETF
Issuer Breakwave State Street
What it is Holds tanker freight futures Tracks the S&P MidCap 400
Total return, 1 year +5,121.7% +12.8%
Its benchmark over the same days not measured +13.2% (IJH)
Gap to its benchmark not measured −0.4 pts vs IJH
Expense ratio 4.68% 0.23%
Holdings not counted 401
Net assets, BWET as of Oct 28, 2026 and MDY as of Oct 27, 2026 $178m $25.9bn

BWET and MDY 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.

MDY

MDY tracks the S&P MidCap 400. Over the year to Oct 28, 2026 it returned +12.8% with distributions reinvested, against +13.2% for its benchmark, the S&P MidCap 400 Index. The prospectus expense ratio is 0.23% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 401 positions, with the top ten at 7.5%. It sat 6.5% below its high of Aug 14, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, BWET or MDY?
In the year to Oct 28, 2026, with distributions reinvested, BWET returned +5,121.7% and MDY +12.8%.
Which is cheaper, BWET or MDY?
MDY is cheaper, by 4.45 percentage points a year. That is about $445 on $10,000 held for a year. Fees come from each fund's own filings.
Other comparisons
BWET vs VOBWET vs IJHBWET vs VXFBWET vs MOATMDY vs USOMDY vs SIVRMDY vs SLVGLDM vs MDY
Where to next
BWET on its own →MDY on its own →Hold both: look the portfolio through →Rankings →MDY dividend history →MDY holdings →Standards and sources →
Sources and dates
Breakwave page for BWET ↗
MDY filings on SEC EDGAR ↗
State Street website ↗

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

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

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