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Data as of Oct 28, 2026.

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Across categories

BWET vs XBI: Differences, Returns & Fees

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Over the year to Oct 28, 2026, BWET returned +5,121.7% to XBI's +41.2%, and XBI charges 0.35% to BWET's 4.68%.

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Net assets: $178m on Oct 28, 2026 for Breakwave Tanker Shipping ETF, and $10.3bn on Oct 27, 2026 for State Street SPDR S&P Biotech ETF.

BWET on its own →XBI on its own →
At a glance
+5,121.7%
BWET total return, 1 year
+41.2%
XBI total return, 1 year
4.68%
BWET expense ratio
0.35%
XBI expense ratio

Pair scorecard

XBI costs 4.33 points a year less; their one-year returns differ by 5080.5 points; XBI is far larger, $10.2bn against $186m.

BWET vs XBI: Differences, Returns & Fees
MeasureBWETXBI
Return
Total return, 1 year+5,121.7%+41.2%
Drawdown
Below its high11.2%, high on Oct 8, 2026
Below its all-time high8.9%, high on Feb 8, 2021
Benchmark
What it tracksTanker freight futuresBiotech
Cost and size
Expense ratio4.68%0.35%
Net assets, as of Oct 26, 2026$186m$10.2bn
Active share vs the S&P 50098%
Holdings
Holdings in commonnot published
In the S&P 500, by weight13%
Top ten holdings, share of the fund18%

Method

Side by side

BWET Breakwave Tanker Shipping ETF XBI State Street SPDR S&P Biotech ETF
Where it sits Commodity ETF Thematic ETF
Issuer Breakwave State Street
What it is Holds tanker freight futures Biotech
Total return, 1 year +5,121.7% +41.2%
Expense ratio 4.68% 0.35%
Holdings not counted 165
Net assets, BWET as of Oct 28, 2026 and XBI as of Oct 27, 2026 $178m $10.3bn

BWET and XBI 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.

XBI

By weight, 13% of XBI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 18% of the fund across 165 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned +41.2% with distributions reinvested. It sits 8.9% below its all-time high of Feb 8, 2021.

Questions people ask

Are BWET and XBI in the same category?
BWET is a commodity ETF and XBI is a thematic ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
Which returned more over the last year, BWET or XBI?
In the year to Oct 28, 2026, with distributions reinvested, BWET returned +5,121.7% and XBI +41.2%.
Which is cheaper, BWET or XBI?
XBI is cheaper, by 4.33 percentage points a year. That is about $433 on $10,000 held for a year. Fees come from each fund's own filings.
Other comparisons
BWET vs IBBBWET vs LYTEBWET vs GDXBWET vs REMXSIVR vs XBIUSO vs XBISLV vs XBIGLDM vs XBI
Where to next
BWET on its own →XBI on its own →Hold both: look the portfolio through →Rankings →XBI dividend history →XBI holdings →Standards and sources →
Sources and dates
Breakwave page for BWET ↗
XBI filings on SEC EDGAR ↗
XBI prospectus with the expense ratio (SEC) ↗
State Street website ↗

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

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

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