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Data as of Oct 28, 2026.

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BWET vs USO: Differences, Returns & Fees

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BWET and USO are both commodity futures funds, and over the year to Oct 28, 2026, BWET returned +5,121.7% against +133.3%.

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Net assets on Oct 28, 2026: $178m for Breakwave Tanker Shipping ETF and $1.9bn for United States Oil Fund, LP.

BWET on its own →USO on its own →
At a glance
+5,121.7%
BWET total return, 1 year
+133.3%
USO total return, 1 year
4.68%
BWET expense ratio
0.86%
USO expense ratio

Pair scorecard

USO costs 3.82 points a year less; their one-year returns differ by 4988.4 points; USO is 10.7 times larger.

BWET vs USO: Differences, Returns & Fees
MeasureBWETUSO
Return
Total return, 1 year+5,121.7%+133.3%
Drawdown
Below its high11.2%, high on Oct 8, 202682.3%, high on Jul 14, 2008
Benchmark
What it tracksTanker freight futuresOil futures
Cost and size
Expense ratio4.68%0.86%
Net assets$178m$1.9bn
Holdings
Holdings in commonnot published

Method

Side by side

BWET Breakwave Tanker Shipping ETF USO United States Oil Fund, LP
Where it sits Commodity ETF Commodity ETF
Issuer Breakwave USCF
What it is Holds tanker freight futures Holds oil futures
Total return, 1 year +5,121.7% +133.3%
Expense ratio 4.68% 0.86%
Net assets $178m $1.9bn

BWET and USO 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.

USO

USO holds oil futures. Over the year to Oct 28, 2026 it returned +133.3% with distributions reinvested. The prospectus expense ratio is 0.86% a year. It sat 82.3% below its high of Jul 14, 2008 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, BWET or USO?
In the year to Oct 28, 2026, with distributions reinvested, BWET returned +5,121.7% and USO +133.3%.
Which is cheaper, BWET or USO?
USO is cheaper, by 3.82 percentage points a year. That is about $382 on $10,000 held for a year. Fees come from each fund's own filings.
Other comparisons
BWET vs SIVRBWET vs SLVBWET vs GLDMBWET vs IAUOILK vs USODBO vs USOBNO vs USOSIVR vs USO
Where to next
BWET on its own →USO on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Sources and dates
Breakwave page for BWET ↗
USCF website ↗

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

Cite this pageCitation, APA and Markdown

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

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.