New Delhi, Sept. 14 -- The Breakwave Tanker Shipping ETF (BWET), which tracks oil tanker shipping rates, has surged nearly 5,100% in the last one year as of September 11, according to Morningstar data.

The rally makes it the best-performing non-leveraged fund in the US, as the ongoing US-Iran war disrupted tanker traffic through the Strait of Hormuz.

Similarly, the ETF has delivered 3,600% returns on year-to-date (YTD) basis, as per the data.

According to reports, supply chains and shipping routes are likely to face further disruptions after Iran-backed Houthi rebels seized control of Yemen's key port of Mokha last week. The strategic location could enable the militia to disrupt shipping traffic in the Red Sea. The Red Sea had emerged ...