Data as of Oct 28, 2026.

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BWET vs VOE: Differences, Returns & Fees

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BWET is a commodity futures fund and VOE an equity index fund, and over the year to Oct 28, 2026, BWET returned +5,121.7% against +22.8%.

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Net assets: $178m on Oct 28, 2026 for Breakwave Tanker Shipping ETF, and $22.8bn on Sep 30, 2026 for Vanguard Morningstar Mid-Cap Value ETF.

At a glance
+5,121.7%
BWET total return, 1 year
+22.8%
VOE total return, 1 year
4.68%
BWET expense ratio
0.05%
VOE expense ratio

Pair scorecard

VOE costs 4.63 points a year less; their one-year returns differ by 5098.9 points.

BWET vs VOE: Differences, Returns & Fees
MeasureBWETVOE
Return
Total return, 1 year+5,121.7%+22.8%
Drawdown
Below its high11.2%, high on Oct 8, 2026
Benchmark
What it tracksTanker freight futuresMorningstar US Mid Cap Value Index
Cost and size
Expense ratio4.68%0.05%
Net assets, BWET as of Oct 28, 2026 and VOE as of Sep 30, 2026$178m$22.8bn
Holdings
Holdings in commonnot published
In the S&P 500, by weight96%
Top ten holdings, share of the fund14.0%

Method

Side by side

BWET Breakwave Tanker Shipping ETF VOE Vanguard Morningstar Mid-Cap Value ETF
Where it sits Commodity ETF Stock ETF
What it is Holds tanker freight futures Tracks an index of Mid-Cap Value
Total return, 1 year +5,121.7% +22.8%
Expense ratio 4.68% 0.05%
Holdings not counted 169
Net assets, BWET as of Oct 28, 2026 and VOE as of Sep 30, 2026 $178m $22.8bn

BWET and VOE 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.

VOE

VOE tracks an index of Mid-Cap Value. Over the year to Oct 28, 2026 it returned +22.8% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings published by its issuer as of Sep 30, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 169 positions, with the top ten at 14.0%.

Questions people ask

Which returned more over the last year, BWET or VOE?
In the year to Oct 28, 2026, with distributions reinvested, BWET returned +5,121.7% and VOE +22.8%.
Which is cheaper, BWET or VOE?
VOE is cheaper, by 4.63 percentage points a year. That is about $463 on $10,000 held for a year. Fees come from each fund's own filings.
Other comparisons
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ETFIQ, BWET against VOE, data as of Oct 28, 2026. https://etfiq.com/compare/any/bwet-vs-voe

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