Shipping ETFs see massive gains amid US-Iran conflict

Shipping ETFs have experienced significant growth as the conflict between the US and Iran, which began on February 28, 2026, disrupts maritime trade and drives up shipping costs. The Breakwave Tanker Shipping ETF (BWET) has surged over 1,300% since the conflict started, while other funds like Breakwave Dry Bulk (BDRY), SonicShares Global Shipping (BOAT), and US Global Sea to Sky Cargo (SEA) have also posted gains. The market volatility is attributed to record-high tanker rates and supply chain disruptions in the Strait of Hormuz.