Data as of Oct 28, 2026.
BWET vs SPY: Differences, Returns & Fees
BWET is a commodity futures fund and SPY an equity index fund, and over the year to Oct 28, 2026, BWET returned +5,121.7% against +13.6%.
askIQ about this page
askIQ about BWET and SPY
Net assets: $178m on Oct 28, 2026 for Breakwave Tanker Shipping ETF, and $814.8bn on Oct 27, 2026 for SPDR S&P 500 ETF Trust.
Pair scorecard
SPY costs 4.59 points a year less; their one-year returns differ by 5108.1 points; SPY is far larger, $810.0bn against $186m.
| Measure | BWET | SPY |
|---|---|---|
| Return | ||
| Total return, 1 year | +5,121.7% | +13.6% |
| Drawdown | ||
| Below its high | 11.2%, high on Oct 8, 2026 | |
| Benchmark | ||
| What it tracks | Tanker freight futures | S&P 500 Index |
| Cost and size | ||
| Expense ratio | 4.68% | 0.09% |
| Net assets, as of Oct 26, 2026 | $186m | $810.0bn |
| Holdings | ||
| Holdings in common | not published | |
| In the S&P 500, by weight | 100% | |
| Top ten holdings, share of the fund | 38.1% | |
Risk and return
May 12, 2023 to Oct 23, 2026 · 180 weekly returnsBWET returned more: +5,753.7% to +92.9%. SPY swung less: 14.0% to 87.4%. SPY fell less at its worst: −16.9% to −55.9%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | BWET | SPY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +5,753.7% | +92.9% | BWET | Price change plus distributions, reinvested. |
| Annualized | +224.0% | +20.9% | BWET | Total return as a yearly rate. |
| Price return | +5,753.7% | +84.6% | BWET | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 87.4% | 14.0% | SPY | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 40.2% | 9.0% | SPY | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −55.9% | −16.9% | SPY | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 1.71 | 1.10 | BWET | Return above Treasury bills per unit of volatility. |
| Sortino | 3.72 | 1.72 | BWET | Return above Treasury bills per unit of downside deviation. |
| Calmar | 4.01 | 1.24 | 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 SPY 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.
SPY
SPY tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.6% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 38.1%.
Questions people ask
- Which returned more over the last year, BWET or SPY?
- In the year to Oct 28, 2026, with distributions reinvested, BWET returned +5,121.7% and SPY +13.6%.
- Which is cheaper, BWET or SPY?
- SPY is cheaper, by 4.59 percentage points a year. That is about $459 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.
Cite this pageCitation, APA and Markdown
ETFIQ, BWET against SPY, data as of Oct 28, 2026. https://etfiq.com/compare/any/bwet-vs-spy
ETFIQ. (Oct 28, 2026). BWET against SPY. Retrieved from https://etfiq.com/compare/any/bwet-vs-spy
[BWET against SPY (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/bwet-vs-spy)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.