Breakwave Tanker Shipping ETF surges 5,100% amid maritime conflict

The Breakwave Tanker Shipping ETF (BWET) has emerged as one of the highest-performing funds in the United States, seeing a surge of over 5,100% over the past year. Unlike many top-performing funds driven by artificial intelligence or cryptocurrency, BWET’s growth is tied to oil tanker chartering rates and forward freight agreements.

The massive rally is attributed to heightened geopolitical tensions and logistical threats in critical maritime corridors. Conflict involving Iran, Israel, and the United States, alongside Houthi advances in the Bab el-Mandeb strait and attacks on Saudi Arabian oil pipelines, has turned key shipping routes like the Strait of Hormuz into chokepoints.

As the risk of transporting crude oil increased, shipping companies raised freight rates significantly. For example, the benchmark Gulf-to-China supertanker rate reached a record daily rate of $423,736 in early March. Consequently, the fund’s net assets grew from approximately $2 million at the start of 2026 to $200 million.