This little-known ETF is up over 600% amid U.S.-Iran war, a better trade than oil or energy stocks

the breakwave tanker shipping etf (bwet) is up over 600% year-to-date, outpacing oil and energy stocks. the $30 million fund, launched in may 2023, tracks crude oil tanker freight rates. war and disruption in key maritime corridors have sent shipping costs sharply higher. "it really is a story about shipping costs," said cinthia murphy of vettafi on cnbc's "etf edge." she noted that anytime there's a big disruption to shipping, freight futures skyrocket. bwet is up over 1,000% in the past year, with gains starting before the outbreak of war in the middle east. for comparison, the u.s. oil fund (uso) is up close to 90% and the energy select sector spdr etf (xle) is up over 23% this year. the baltic exchange dry index is up 41% since january. paul baiocchi of ss&c technologies said the rally ties into underinvestment in energy infrastructure and the need for more resilient supply chains.