ETF Managers Group Commodity Trust I (BWET) Performance
BWET total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +4,554.1% since Dec 31, 2025
- 1 year
- +5,279.2% total return
- 3 years
- +282.5% a year
- Since first price
- +231.6% a year since 2023
BWET trailing returns vs SPY, QQQ, AGG
| Period | BWET total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +21.3% | +21.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +261.9% | +261.9% | +3.2% | +1.9% | −0.4% |
| 6 months | +535.8% | +535.8% | +7.8% | +8.4% | −1.5% |
| YTD | +4,554.1% | +4,554.1% | +12.3% | +15.1% | −1.0% |
| 1 year | +5,279.2% | +5,279.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +5,496.8%+282.5%/yr | +5,496.8% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionMay 3, 2023 | +6,336.5%+231.6%/yr | +6,336.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: BWET vs SPY
From May 3, 2023: BWET grew to $643,654, SPY to $19,453.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BWET returns by calendar year
1 of 2 full years positive. Best 2025 (+96.2%), worst 2024 (−39.2%). 2026 is year to date.
BWET annual returns table
| Year | BWET | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +4,554.1% | −41.2% | +12.3% | +15.1% | −1.0% |
| 2025 | +96.2% | −26.9% | +17.7% | +20.8% | +7.2% |
| 2024 | −39.2% | −54.4% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
BWET largest drawdowns
Now 11.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jun 15, 2023 | −56.9% | Jan 6, 2025 | Nov 13, 2025 | 1.6 years | 2.4 years |
| Jun 22, 2026 | −41.2% | Jun 26, 2026 | Jul 14, 2026 | 4 days | 22 days |
| Apr 9, 2026 | −30.6% | Apr 15, 2026 | May 1, 2026 | 6 days | 22 days |
| May 5, 2026 | −29.2% | May 27, 2026 | Jun 18, 2026 | 22 days | 44 days |
| Dec 15, 2025 | −28.8% | Jan 2, 2026 | Jan 9, 2026 | 18 days | 25 days |
| Sep 18, 2026 | −24.6% | Sep 25, 2026 | Oct 2, 2026 | 7 days | 14 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
BWET risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +270.7% | +232.2% |
| Volatility (annualized) | 108.9% | 106.9% |
| Sharpe ratio | 1.61 | 1.52 |
| Sortino ratio | 8.68 | 7.31 |
| Best month | +92.7% | +92.7% |
| Worst month | −16.2% | −19.3% |
| Best 12 months | +5,345.9% | +5,345.9% |
| Worst 12 months | −41.4% | −41.4% |
| Positive months | 53% | 50% |
| Beta vs S&P 500 | -0.89 | — |
| Correlation with S&P 500 | -0.10 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
BWET rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 30 | −41.4% | −3.2% | +5,345.9% | 47% |
| 3-year (a year) | 6 | +92.3% | +165.7% | +270.7% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
BWET performance overview
ETF Managers Group Commodity Trust I (BWET) returned +5,279.2% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +231.6% a year, turning $10,000 into about $643,654. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −56.9%, from Jun 15, 2023 to Jan 6, 2025, and it took 10 months to get back to the old high. Volatility has been 106.9% a year.
Related: BWET chart. See the BWET overview for the latest quote and fund facts.
BWET performance FAQ
What is the BWET return over the past year?
BWET returned +5,279.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 5,279.2%.
How much would $10,000 invested in BWET be worth?
$10,000 invested in BWET at its first recorded close on May 3, 2023 would be worth about $643,654 on October 23, 2026 with distributions reinvested.
What was the worst year for BWET?
The worst calendar year was 2024, with a total return of −39.2%. The best was 2025 at +96.2%.
What is the biggest drawdown of BWET?
The largest peak-to-trough decline was −56.9% between June 15, 2023 and January 6, 2025. It recovered to the old high on November 13, 2025, 10 months after the bottom.
How volatile is BWET?
Over the past 3 years BWET had an annualized volatility of 108.9% and a Sharpe ratio of 1.61 (excess return over 1–3 month T-bills per unit of risk).