BWET surges roughly 3,600% year to date as oil shipping costs soar

Sep 13, 2026 13:26 (41d ago)

BWET gained roughly 3,600% year to date through Sept. 11, while a newer account reported a 1,168% gain from February 2026 onward.
Middle East tanker freight rates rose nearly 500% year over year as Strait of Hormuz risks, route diversions and vessel constraints increased costs.
Project44 recorded 140,276 shipping disruption events this year, with weekly disruptions peaking above 9,000 during the crisis.

The Breakwave Tanker Shipping ETF (BWET) gained roughly 3,600% year to date through Sept. 11, according to Morningstar, making it the best-performing non-leveraged U.S. fund. A newer account instead described BWET as a dry bulk shipping ETF and reported a 1,168% rise from February 2026 after U.S. and Israeli strikes on Iran; this appears to reflect a naming or measurement discrepancy. BWET tracks tanker transportation prices rather than crude oil, and its performance has been driven by Strait of Hormuz and other Middle East shipping disruptions, vessel shortages, insurance costs and longer routes. Freight rates could reverse quickly if tensions ease, while higher energy and shipping costs are adding to inflation and supply-chain pressure.