- ISIN
- US26923H2004
- CUSIP
- 26923H200
- Issuer
- ETFMG
- Inception Date
- Mar 22, 2018
- Region
- Global (Broad)
- Category
- Commodities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Breakwave Dry Freight Futures Index
- Distribution Policy
- Accumulating
- Asset Class
- Commodity
- Assets Under Management
- $33M
Share Price Chart
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Performance
BDRY Performance Chart
Breakwave Dry Bulk Shipping ETF (BDRY) is up 32.0% since the beginning of the year. BDRY is currently trading at $12 per share. Investors who bought $1,000 worth of BDRY shares 5 years ago would now be looking at an investment worth $415.
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Returns By Period
Breakwave Dry Bulk Shipping ETF (BDRY) has returned 32.04% so far this year and 102.09% over the past 12 months.
Breakwave Dry Bulk Shipping ETF
- 1D
- 0.09%
- 1M
- -8.64%
- YTD
- 32.04%
- 6M
- 30.41%
- 1Y
- 102.09%
- 3Y*
- 23.42%
- 5Y*
- -16.12%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
BDRY Monthly Returns History
Based on dividend-adjusted daily data since Mar 22, 2018, BDRY's average daily return is +0.04%, while the average monthly return is +1.12%. At this rate, an investment would double in approximately 5.2 years.
Historically, 45% of months were positive and 55% were negative. The best month was Nov 2023 with a return of +86.2%, while the worst month was Aug 2022 at -36.9%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 6 months.
On a daily basis, BDRY closed higher 48% of trading days. The best single day was Feb 16, 2021 with a return of +27.3%, while the worst single day was Feb 18, 2021 at -18.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 31.47% | 4.68% | -17.40% | 17.55% | 10.41% | -10.51% | 32.04% | ||||||
| 2025 | -5.10% | 10.92% | -2.34% | -7.76% | -9.97% | 6.94% | 33.33% | 13.11% | -10.27% | 7.86% | 8.27% | 0.00% | 44.24% |
| 2024 | -2.77% | 35.68% | -9.11% | -8.30% | -6.06% | 2.51% | -12.42% | 3.64% | -3.33% | -30.35% | -11.10% | -8.57% | -47.40% |
| 2023 | -15.13% | 16.03% | 11.60% | -13.27% | -34.02% | -3.98% | -10.81% | -1.21% | 12.27% | -8.74% | 86.23% | 23.90% | 25.79% |
| 2022 | -25.60% | -2.32% | 12.83% | -11.17% | 3.31% | -22.62% | -27.66% | -36.88% | 15.31% | -21.46% | 10.70% | 16.92% | -68.84% |
| 2021 | 34.29% | 22.92% | 33.12% | 45.98% | -6.88% | 27.61% | -12.10% | 9.81% | 27.11% | -16.58% | -11.28% | 10.66% | 282.99% |
Benchmark Metrics
Breakwave Dry Bulk Shipping ETF has an annualized alpha of 6.66%, beta of 0.24, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since March 22, 2018.
- This ETF participated in 125.46% of S&P 500 Index downside but only 43.23% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.24 may look defensive, but with R2 of 0.01 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.01 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 6.66%
- Beta
- 0.24
- R²
- 0.01
- Upside Capture
- 43.23%
- Downside Capture
- 125.46%
Expense Ratio
BDRY has a high expense ratio of 3.76%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
BDRY ranks 73 for risk / return — better than 73% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Breakwave Dry Bulk Shipping ETF (BDRY) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BDRY | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.37 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.75 | 2.78 | +1.97 |
| Martin ratioReturn relative to average drawdown | 13.45 | 12.44 | +1.01 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Breakwave Dry Bulk Shipping ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Breakwave Dry Bulk Shipping ETF was 89.16%, occurring on Jul 19, 2023. The portfolio has not yet recovered.
The current Breakwave Dry Bulk Shipping ETF drawdown is 72.10%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 bear market2023 | -89.16%Jul 2023 | 1y 9mo | — | 4y 8moOct 2021 - now |
2020 bear market2020 | -84.71%May 2020 | 1y 8mo | 11mo 26d | 2y 8moAug 2018 - May 2021 |
2018 bear market2018 | -26.58%May 2018 | 2mo 7d | 2mo 24d | 5mo 1dMar 2018 - Aug 2018 |
2021 bear market2021 | -23.19%Jul 2021 | 27d | 1mo 10d | 2mo 7dJun 2021 - Aug 2021 |
2021 bear market2021 | -20.51%May 2021 | 6d | 25d | 1mo 1dMay 2021 - Jun 2021 |
Drawdown Indicators
| BDRY | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.16% | -56.78% | -32.38% |
Max Drawdown (1Y)Largest decline over 1 year | -21.60% | -9.10% | -12.50% |
Max Drawdown (3Y)Largest decline over 3 years | -69.71% | -18.90% | -50.81% |
Max Drawdown (5Y)Largest decline over 5 years | -89.16% | -25.43% | -63.73% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -72.10% | -1.80% | -70.30% |
Average DrawdownAverage peak-to-trough decline | -58.42% | -10.71% | -47.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.62% | 2.03% | +5.59% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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