BWET vs SPY
Breakwave Tanker Shipping ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. BWET delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | BWET | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 3.50% | 0.09% | |
| AUM | $74M | $821.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 12 | 505 | |
| YTD Return | +2302.39% | +12.22% | |
| 1Y Return | +3631.06% | +20.83% | |
| 3Y Return (annualized) | +190.25% | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 100.5% | 15.3% | |
| Max Drawdown | -56.9% | -56.5% | |
| Fund Family | ETFMG | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | May 1, 2023 | Jan 22, 1993 |
BWET vs SPY Performance
Breakwave Tanker Shipping ETF (BWET) is a ETF from ETFMG and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BWET returned +3631.06% while SPY returned +20.83%. Year to date, BWET is up 2302.39% versus a gain of 12.22% for SPY.
Over three years, BWET compounded at +190.25% per year against +21.70% for SPY. Across the full 3-year window we track, BWET has the edge at +186.73% annualized vs +8.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BWET has been the more volatile fund, with annualized monthly volatility of 100.5% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.9% for BWET and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.02. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BWET charges 3.50% per year while SPY charges 0.09%. On a $10,000 position that is $350 vs $9 annually, a gap of $341 per year that compounds over a long holding period. On income, BWET currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
BWET and SPY share 0 holdings out of 505 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BWET or SPY?
BWET has an expense ratio of 3.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $341 per year of difference.
Which performed better, BWET or SPY?
Over the past year BWET returned +3631.06% vs +20.83% for SPY, so BWET leads on 1-year performance. Over the longest common window we track (3 years), BWET annualized +186.73% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, BWET or SPY?
BWET has been the more volatile fund at 100.5% annualized versus 15.3% for SPY. Worst drawdown: BWET -56.9% vs SPY -56.5%.
Should I hold both BWET and SPY?
BWET and SPY have a monthly-return correlation of 0.02, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BWET and SPY?
BWET and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, BWET or SPY?
BWET yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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