The Breakwave Tanker Shipping ETF (BWET) has surged 3,600% year-to-date, becoming the best-performing U.S. fund, as geopolitical tensions in the Middle East and supply chain disruptions drive record shipping costs. The Strait of Hormuz crisis, Houthi control of Yemen's Mocka port, and broader factors like tariffs and drought have created an unprecedented shortage of oil tankers, allowing shipping companies to command premium rates.