Gold Is Down Since the Iran War Began. This Obscure Shipping ETF Is Up 1,168%.

The Breakwave Dry Bulk Shipping ETF (BWET) experienced extraordinary gains between late February and mid-September, closing at $57.30 on February 27 and reaching $726.92 on September 11, representing a gain of 1,168.62%. Over the same period, the SPDR Gold Trust (GLD), which holds physical gold, declined from $483.75 to $398.77, a loss of 17.57%. This divergence highlighted a classic market pattern wherein gold initially gains value during periods of geopolitical tension but sells off sharply o