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ETFs

Breakwave Tanker Shipping ETF

BWET
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
May 03 2023
Expense Ratio
3.50%
Type
Global Diversified
Fund Owner
ETF Managers Group
Volume (1m avg. daily)
$27,838
AUM
$3,130,844
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

n/a
Cash & Other
100.00%
n/a
Derivatives offset
-115.18%
Invest with BWET

What is BWET?

BWET provides long exposure to the crude oil tanker shipping market through a portfolio of near-dated futures contracts on indices that measure the cost of shipping crude oil. Futures reflect market expectations for the future cost of transporting crude oil. The first and only freight futures exchange-traded product exclusively focused on crude oil tanker freight rates.

ETFs related toBWET

ETFs correlated to BWET include JMST, CTA, VNM

BWET
ETF Managers Group Commodity Trust I - Breakwave Tanker Shipping ETF
JMST
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan Ultra-Short Municipal Income ETF
CTA
Simplify Exchange Traded Funds - Simplify Managed Futures Strategy ETF
VNM
VanEck ETF Trust - VanEck Vietnam ETF
IBMN
BlackRock Institutional Trust Company N.A. - iShares iBonds Dec 2025 Term Muni Bond ETF
FSMB
First Trust Exchange-Traded Fund III - First Trust Short Duration Managed Municipal ETF
KOLD
ProShares Trust - ProShares UltraShort Bloomberg Natural Gas -2x Shares
SARK
Investment Managers Series Trust II - AXS Short Innovation Daily ETF
SCJ
BlackRock Institutional Trust Company N.A. - iShares MSCI Japan Small-Cap ETF
SHM
SPDR Series Trust - SPDR Nuveen Bloomberg Short Term Municipal Bond ETF
TFI
SPDR Series Trust - SPDR Nuveen Bloomberg Municipal Bond ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

FAQ

BWET is a Global Diversified ETF. BWET provides long exposure to the crude oil tanker shipping market through a portfolio of near-dated futures contracts on indices that measure the cost of shipping crude oil. Futures reflect market expectations for the future cost of transporting crude oil. The first and only freight futures exchange-traded product exclusively focused on crude oil tanker freight rates.

Yes, BWET is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, BWET is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on BWET is 0.2011%. This is the percent change in the value of BWET over the most recent 1-month period. The 3-month return on BWET is %. This is the percent change in the value of BWET over the most recent 3-month period.

ETFs similar to BWET include AOK, AOR, and FPEI.

ETFs correlated to BWET include JMST, CTA, and VNM.

ETFs that are inversely correlated to BWET include LRNZ, PFIX, and ARKF.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.