AKAF vs. BOAT

Last updated Jul 31, 2026

AKAF (The Frontier Economic Fund) and BOAT (SonicShares Global Shipping ETF) are both exchange-traded funds - AKAF is a Global Equities fund tracking the Alaska Last Frontier Index, while BOAT is a Industrials Equities fund tracking the Solactive Global Shipping Index. Both are passively managed. Over the past year, AKAF returned 27.73% vs 58.63% for BOAT. Their 0.40 correlation means their historical movements had little consistent relationship. AKAF charges 0.20%/yr vs 0.69%/yr for BOAT.

Performance

AKAF vs. BOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Frontier Economic Fund (AKAF) and SonicShares Global Shipping ETF (BOAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AKAF achieves a 11.02% return, which is significantly lower than BOAT's 44.78% return.

AKAF

• 1D: 0.81%
• 1M: 1.74%
• 6M: 3.83%
• YTD: 11.02%
• 1Y: 27.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 27.22%

BOAT

• 1D: -0.74%
• 1M: 16.85%
• 6M: 27.61%
• YTD: 44.78%
• 1Y: 58.63%
• 3Y*: 27.06%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 24.82%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AKAF The Frontier Economic Fund	$569.72	$1.23K	$1.59K
BOAT SonicShares Global Shipping ETF	$1.27M	$891.42K	$991.19K

AKAF vs. BOAT - Yearly Performance Comparison

	2026 (YTD)	2025
AKAF The Frontier Economic Fund	11.02%	17.17%
BOAT SonicShares Global Shipping ETF	44.78%	14.97%

Correlation

The correlation between AKAF and BOAT is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.40

Return for Risk

AKAF vs. BOAT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AKAF

AKAF Risk / Return Rank: 79
AKAF Sharpe Ratio Rank: 80
AKAF Sortino Ratio Rank: 79
AKAF Omega Ratio Rank: 79
AKAF Calmar Ratio Rank: 80
AKAF Martin Ratio Rank: 78

BOAT

BOAT Risk / Return Rank: 93
BOAT Sharpe Ratio Rank: 96
BOAT Sortino Ratio Rank: 94
BOAT Omega Ratio Rank: 92
BOAT Calmar Ratio Rank: 95
BOAT Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AKAF vs. BOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Frontier Economic Fund (AKAF) and SonicShares Global Shipping ETF (BOAT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	AKAF	BOAT	Difference
Sharpe ratio: Return per unit of total volatility	1.81	2.85	-1.04
Sortino ratio: Return per unit of downside risk	2.53	3.70	-1.17
Omega ratio: Gain probability vs. loss probability	1.33	1.46	-0.13
Calmar ratio: Return relative to maximum drawdown	2.88	5.08	-2.20
Martin ratio: Return relative to average drawdown	9.74	14.33	-4.59

AKAF vs. BOAT - Sharpe Ratio Comparison

The current AKAF Sharpe Ratio is 1.81, which is lower than the BOAT Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of AKAF and BOAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AKAF vs. BOAT - Drawdown Comparison

The maximum AKAF drawdown since its inception was -9.32%, smaller than the maximum BOAT drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for AKAF and BOAT.

Drawdown Indicators

	AKAF	BOAT	Difference
Max Drawdown Largest peak-to-trough decline	-9.32%	-33.94%	+24.62%
Max Drawdown (1Y) Largest decline over 1 year	-9.32%	-11.60%	+2.28%
Max Drawdown (3Y) Largest decline over 3 years	—	-33.94%	—
Current Drawdown Current decline from peak	-2.21%	-0.74%	-1.47%
Average Drawdown Average peak-to-trough decline	-1.82%	-9.51%	+7.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	4.10%	-1.35%

Volatility

AKAF vs. BOAT - Volatility Comparison

The current volatility for The Frontier Economic Fund (AKAF) is 2.92%, while SonicShares Global Shipping ETF (BOAT) has a volatility of 7.09%. This indicates that AKAF experiences smaller price fluctuations and is considered to be less risky than BOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AKAF	BOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	7.09%	-4.17%
Volatility (6M) Calculated over the trailing 6-month period	11.53%	16.87%	-5.34%
Volatility (1Y) Calculated over the trailing 1-year period	14.89%	20.73%	-5.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.60%	25.07%	-10.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.60%	25.07%	-10.47%

AKAF vs. BOAT - Expense Ratio Comparison

AKAF has a 0.20% expense ratio, which is lower than BOAT's 0.69% expense ratio.

Dividends

AKAF vs. BOAT - Dividend Comparison

AKAF's dividend yield for the trailing twelve months is around 2.97%, less than BOAT's 6.35% yield.

Position	TTM	2025	2024	2023	2022	2021
AKAF The Frontier Economic Fund	2.97%	2.25%	0.00%	0.00%	0.00%	0.00%
BOAT SonicShares Global Shipping ETF	6.35%	8.08%	13.89%	13.65%	13.57%	1.36%

Frequently Asked Questions

Can I hold both AKAF and BOAT in my portfolio?

AKAF and BOAT have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AKAF or BOAT?

BOAT has higher volatility (7.09%) compared to AKAF (2.92%). In terms of maximum drawdown, AKAF dropped -9.32% vs BOAT's -33.94%.

Which ETF is better, AKAF or BOAT?

On 1-year performance, BOAT leads with 58.63% vs 27.73% for AKAF. On fees, AKAF is cheaper at 0.20% per year. On volatility, AKAF has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AKAF or BOAT?

Over the 1-year period, BOAT has performed better with a 58.63% return vs 27.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AKAF or BOAT?

AKAF is cheaper with a 0.20% expense ratio, compared with 0.69% for BOAT.

Which ETF pays a higher dividend yield, AKAF or BOAT?

BOAT has the higher dividend yield at 6.35%, compared with 2.97% for AKAF.

What is the main difference between AKAF and BOAT?

AKAF is categorized as Global Equities, while BOAT is Industrials Equities. AKAF tracks Alaska Last Frontier Index, while BOAT tracks Solactive Global Shipping Index. They also come from different issuers: Vident and Tidal. Their fees differ too: 0.20% for AKAF and 0.69% for BOAT.

Which has better risk-adjusted returns?

BOAT currently has the higher Sharpe Ratio (2.85 vs 1.81), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.