- The Breakwave Tanker Shipping ETF (BWET) has gained 5,100% over the past year and 3,600% year-to-date, making it the best-performing US ETF.
- Geopolitical turmoil, including the war in Iran, Strait of Hormuz disruptions, and attacks on oil infrastructure, has driven the surge in shipping rates.
- BWET tracks freight futures tied to oil tanker routes and has grown from $2 million to $200 million in net assets since January 2026.
- The fund recently surpassed $700 per share following Houthi attacks on Saudi Arabia‘s East-West oil pipeline.
The Breakwave Tanker Shipping ETF (BWET) has surged 5,100% over the past year and 3,600% year-to-date, ranking as the best-performing US ETF amid escalating Middle East conflict. The fund tracks oil tanker freight futures, with roughly 90% of exposure tied to the Middle East-to-China supertanker route.
The rally began after US and Israeli airstrikes killed Ali Khamenei on February 28, 2026. Within hours, IRGC officials ordered tankers to cease passage through the Strait of Hormuz, according to Reuters, collapsing traffic by four-fifths as Lloyd’s List reported.
Consequently, the benchmark supertanker rate hit a record $423,736 per day by March 2, doubling within two days. Oil prices have more than doubled since the conflict began.
Amplify, the fund’s sponsor, charges a 3.5% expense ratio and now manages nearly $200 million in net assets, up from $2 million at the start of 2026, according to Bloomberg. A peace memorandum signed on June 17 to reopen Hormuz collapsed within days, as Al Jazeera reported.
BWET lost over 40% on initial optimism but regained all losses by July. Meanwhile, Houthis allegedly struck Saudi Arabia’s East-West oil pipeline, with social media users posting imagery of smoke plumes nearly 100 kilometers long, as NASA thermal data backed and Reuters verified.
BWET jumped another 10% on Friday, surpassing $700 per share. Breakwave founder John Kartsonas explained, “There is no risk mitigation. If rates decline, the fund will also decline.”
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