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Data as of Oct 28, 2026.

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BWET vs MTUM: Differences, Returns & Fees

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BWET is a commodity futures fund and MTUM an equity index fund, and over the year to Oct 28, 2026, BWET returned +5,121.7% against +18.4%.

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Net assets: $178m on Oct 28, 2026 for Breakwave Tanker Shipping ETF, and $18.7bn on Oct 27, 2026 for iShares MSCI USA Momentum Factor ETF.

BWET on its own →MTUM on its own →
At a glance
+5,121.7%
BWET total return, 1 year
+18.4%
MTUM total return, 1 year
4.68%
BWET expense ratio
0.15%
MTUM expense ratio

Pair scorecard

MTUM costs 4.53 points a year less; their one-year returns differ by 5103.3 points; MTUM is far larger, $18.4bn against $186m.

BWET vs MTUM: Differences, Returns & Fees
MeasureBWETMTUM
Return
Total return, 1 year+5,121.7%+18.4%
Drawdown
Below its high11.2%, high on Oct 8, 202611.9%, high on Jun 22, 2026
Benchmark
What it tracksTanker freight futuresMSCI USA Momentum SR Variant Index
Cost and size
Expense ratio4.68%0.15%
Net assets, as of Oct 26, 2026$186m$18.4bn
Holdings
Holdings in commonnot published
In the S&P 500, by weight93%
Top ten holdings, share of the fund35.5%

Method

Side by side

BWET Breakwave Tanker Shipping ETF MTUM iShares MSCI USA Momentum Factor ETF
Where it sits Commodity ETF Stock ETF
Issuer Breakwave iShares
What it is Holds tanker freight futures Tracks the MSCI USA Momentum Factor
Total return, 1 year +5,121.7% +18.4%
Its benchmark over the same days not measured +13.6% (MLRG)
Gap to its benchmark not measured +4.8 pts vs MLRG
Expense ratio 4.68% 0.15%
Holdings not counted 126
Net assets, BWET as of Oct 28, 2026 and MTUM as of Oct 27, 2026 $178m $18.7bn

BWET and MTUM 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.

MTUM

MTUM tracks the MSCI USA Momentum Factor. Over the year to Oct 28, 2026 it returned +18.4% with distributions reinvested, against +13.6% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 126 positions, with the top ten at 35.5%. It sat 11.9% below its high of Jun 22, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, BWET or MTUM?
In the year to Oct 28, 2026, with distributions reinvested, BWET returned +5,121.7% and MTUM +18.4%.
Which is cheaper, BWET or MTUM?
MTUM 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.
Other comparisons
BWET vs DFUSBWET vs SPMOBWET vs USMVBWET vs RDVYMTUM vs USOMTUM vs SIVRMTUM vs SLVGLDM vs MTUM
Where to next
BWET on its own →MTUM on its own →Hold both: look the portfolio through →Rankings →MTUM dividend history →MTUM holdings →Standards and sources →
Sources and dates
Breakwave page for BWET ↗
MTUM filings on SEC EDGAR ↗
MTUM prospectus with the expense ratio (SEC) ↗
iShares page for MTUM ↗

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

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

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