Data as of Oct 28, 2026.

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BWET vs VEU: Differences, Returns & Fees

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BWET is a commodity futures fund and VEU an equity index fund, and over the year to Oct 28, 2026, BWET returned +5,121.7% against +14.4%.

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Net assets: $178m on Oct 28, 2026 for Breakwave Tanker Shipping ETF, and $68.1bn on Sep 30, 2026 for Vanguard FTSE All World Ex US ETF.

At a glance
+5,121.7%
BWET total return, 1 year
+14.4%
VEU total return, 1 year
4.68%
BWET expense ratio
0.04%
VEU expense ratio

Pair scorecard

VEU costs 4.64 points a year less; their one-year returns differ by 5107.3 points.

BWET vs VEU: Differences, Returns & Fees
MeasureBWETVEU
Return
Total return, 1 year+5,121.7%+14.4%
Drawdown
Below its high11.2%, high on Oct 8, 20265.0%, high on Sep 4, 2026
Benchmark
What it tracksTanker freight futuresFTSE All-World ex US Index
Cost and size
Expense ratio4.68%0.04%
Net assets, BWET as of Oct 28, 2026 and VEU as of Sep 30, 2026$178m$68.1bn
Holdings
Holdings in commonnot published
In the S&P 500, by weight0%
Top ten holdings, share of the fund15.2%

Method

Side by side

BWET Breakwave Tanker Shipping ETF VEU Vanguard FTSE All World Ex US ETF
Where it sits Commodity ETF Stock ETF
What it is Holds tanker freight futures Tracks the FTSE All-World ex-US
Total return, 1 year +5,121.7% +14.4%
Expense ratio 4.68% 0.04%
Holdings not counted 3816
Net assets, BWET as of Oct 28, 2026 and VEU as of Sep 30, 2026 $178m $68.1bn

BWET and VEU 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.

VEU

VEU tracks the FTSE All-World ex-US. Over the year to Oct 28, 2026 it returned +14.4% with distributions reinvested. The prospectus expense ratio is 0.04% a year. By its holdings published by its issuer as of Sep 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 3,816 positions, with the top ten at 15.2%. It sat 5.0% below its high of Sep 4, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, BWET or VEU?
In the year to Oct 28, 2026, with distributions reinvested, BWET returned +5,121.7% and VEU +14.4%.
Which is cheaper, BWET or VEU?
VEU is cheaper, by 4.64 percentage points a year. That is about $464 on $10,000 held for a year. Fees come from each fund's own filings.
Other comparisons
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ETFIQ, BWET against VEU, data as of Oct 28, 2026. https://etfiq.com/compare/any/bwet-vs-veu

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