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Data as of Oct 28, 2026.

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BWET vs PFF: Differences, Returns & Fees

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BWET is a commodity futures fund and PFF an equity index fund, and over the year to Oct 28, 2026, BWET returned +5,121.7% against −4.2%.

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Net assets: $178m on Oct 28, 2026 for Breakwave Tanker Shipping ETF, and $11.8bn on Oct 27, 2026 for iShares Preferred and Income Securities ETF.

BWET on its own →PFF on its own →
At a glance
+5,121.7%
BWET total return, 1 year
−4.2%
PFF total return, 1 year
4.68%
BWET expense ratio
0.45%
PFF expense ratio

Pair scorecard

PFF costs 4.23 points a year less; their one-year returns differ by 5125.9 points; PFF is far larger, $11.8bn against $186m.

BWET vs PFF: Differences, Returns & Fees
MeasureBWETPFF
Return
Total return, 1 year+5,121.7%−4.2%
Drawdown
Below its high11.2%, high on Oct 8, 20267.1%, high on May 8, 2026
Benchmark
What it tracksTanker freight futuresICE Exchange-Listed Preferred & Hybrid Securities Index
Cost and size
Expense ratio4.68%0.45%
Net assets, as of Oct 26, 2026$186m$11.8bn
Holdings
Holdings in commonnot published
In the S&P 500, by weight0%
Top ten holdings, share of the fund22.7%

Method

Side by side

BWET Breakwave Tanker Shipping ETF PFF iShares Preferred and Income Securities ETF
Where it sits Commodity ETF Bond ETF
Issuer Breakwave iShares
What it is Holds tanker freight futures Tracks an index of Preferred and Income Securities
Total return, 1 year +5,121.7% −4.2%
Its benchmark over the same days not measured +13.6% (MLRG)
Gap to its benchmark not measured −17.8 pts vs MLRG
Expense ratio 4.68% 0.45%
Holdings not counted 453
Net assets, BWET as of Oct 28, 2026 and PFF as of Oct 27, 2026 $178m $11.8bn

BWET and PFF 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.

PFF

PFF tracks an index of Preferred and Income Securities. Over the year to Oct 28, 2026 it returned −4.2% with distributions reinvested, against +13.6% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.45% 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 453 positions, with the top ten at 22.7%. It sat 7.1% below its high of May 8, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, BWET or PFF?
In the year to Oct 28, 2026, with distributions reinvested, BWET returned +5,121.7% and PFF −4.2%.
Which is cheaper, BWET or PFF?
PFF is cheaper, by 4.23 percentage points a year. That is about $423 on $10,000 held for a year. Fees come from each fund's own filings.
Other comparisons
BWET vs SPSBBWET vs EMBBWET vs VGLTBWET vs VUSBPFF vs USOPFF vs SIVRPFF vs SLVGLDM vs PFF
Where to next
BWET on its own →PFF on its own →Hold both: look the portfolio through →Rankings →PFF dividend history →PFF holdings →Standards and sources →
Sources and dates
Breakwave page for BWET ↗
PFF filings on SEC EDGAR ↗
PFF prospectus with the expense ratio (SEC) ↗
iShares page for PFF ↗

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

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

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