AZTD vs. BOAT

Last updated Aug 5, 2026

AZTD (Aztlan Global Stock Selection Dm SMID ETF) and BOAT (SonicShares Global Shipping ETF) are both exchange-traded funds - AZTD is a Global Equities fund tracking the Solactive Aztlan Global Developed Markets SMID Cap Index - Benchmark TR Gross, while BOAT is a Industrials Equities fund tracking the Solactive Global Shipping Index. Both are passively managed. Over the past 3 years, AZTD returned 17.02%/yr vs 26.76%/yr for BOAT. Their 0.42 correlation means their historical movements had little consistent relationship. AZTD charges 0.75%/yr vs 0.69%/yr for BOAT.

Performance

AZTD vs. BOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aztlan Global Stock Selection Dm SMID ETF (AZTD) 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, AZTD achieves a 16.64% return, which is significantly lower than BOAT's 44.44% return.

AZTD

• 1D: 1.38%
• 1M: 0.44%
• 6M: 11.04%
• YTD: 16.64%
• 1Y: 20.83%
• 3Y*: 17.02%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.25%

BOAT

• 1D: -0.44%
• 1M: 12.97%
• 6M: 26.12%
• YTD: 44.44%
• 1Y: 56.33%
• 3Y*: 26.76%
• 5Y*: 24.35%
• 10Y*: —
• ALL TIME*: 24.70%

*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)
AZTD Aztlan Global Stock Selection Dm SMID ETF	$217.95K	$145.08K	$54.87K
BOAT SonicShares Global Shipping ETF	$1.71M	$1.08M	$1.05M

AZTD vs. BOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AZTD Aztlan Global Stock Selection Dm SMID ETF	16.64%	25.46%	6.87%	10.34%	-1.79%
BOAT SonicShares Global Shipping ETF	44.44%	22.77%	5.97%	24.53%	-7.54%

Correlation

The correlation between AZTD and BOAT is 0.35, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.35
Correlation (3Y) Balances recent behavior with more history.	0.37
Correlation (All Time) Calculated using the full available price history since Aug 18, 2022	0.42

AZTD vs. BOAT - Sectors Allocation Comparison

Sectors	AZTD	BOAT
Financial Services	21.5%	6.6%
Industrials	20.9%	29.2%
Consumer Cyclical	19.8%	-
Technology	14.3%	-
Healthcare	9.7%	-
Basic Materials	4.0%	-
Communication Services	3.3%	-
Energy	2.5%	10.3%
Utilities	1.9%	-
Consumer Defensive	1.6%	-
Real Estate	-	-

Return for Risk

AZTD vs. BOAT — Risk / Return Rank

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

AZTD

AZTD Risk / Return Rank: 43
AZTD Sharpe Ratio Rank: 42
AZTD Sortino Ratio Rank: 42
AZTD Omega Ratio Rank: 40
AZTD Calmar Ratio Rank: 46
AZTD Martin Ratio Rank: 47

BOAT

BOAT Risk / Return Rank: 91
BOAT Sharpe Ratio Rank: 94
BOAT Sortino Ratio Rank: 92
BOAT Omega Ratio Rank: 89
BOAT Calmar Ratio Rank: 93
BOAT Martin Ratio Rank: 86

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.

AZTD vs. BOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aztlan Global Stock Selection Dm SMID ETF (AZTD) 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.

	AZTD	BOAT	Difference
Sharpe ratio: Return per unit of total volatility	1.20	2.74	-1.55
Sortino ratio: Return per unit of downside risk	1.77	3.59	-1.82
Omega ratio: Gain probability vs. loss probability	1.21	1.44	-0.23
Calmar ratio: Return relative to maximum drawdown	1.87	4.88	-3.01
Martin ratio: Return relative to average drawdown	5.96	13.77	-7.81

AZTD vs. BOAT - Sharpe Ratio Comparison

The current AZTD Sharpe Ratio is 1.20, which is lower than the BOAT Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of AZTD 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

AZTD vs. BOAT - Drawdown Comparison

The maximum AZTD drawdown since its inception was -16.75%, smaller than the maximum BOAT drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for AZTD and BOAT.

Drawdown Indicators

	AZTD	BOAT	Difference
Max Drawdown Largest peak-to-trough decline	-16.75%	-33.94%	+17.19%
Max Drawdown (1Y) Largest decline over 1 year	-11.19%	-11.60%	+0.41%
Max Drawdown (3Y) Largest decline over 3 years	-16.75%	-33.94%	+17.19%
Max Drawdown (5Y) Largest decline over 5 years	—	-33.94%	—
Current Drawdown Current decline from peak	-0.91%	-0.97%	+0.06%
Average Drawdown Average peak-to-trough decline	-3.81%	-9.50%	+5.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	4.10%	-0.60%

Volatility

AZTD vs. BOAT - Volatility Comparison

The current volatility for Aztlan Global Stock Selection Dm SMID ETF (AZTD) is 4.25%, while SonicShares Global Shipping ETF (BOAT) has a volatility of 6.47%. This indicates that AZTD 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

	AZTD	BOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.25%	6.47%	-2.22%
Volatility (6M) Calculated over the trailing 6-month period	13.62%	16.87%	-3.25%
Volatility (1Y) Calculated over the trailing 1-year period	17.58%	20.69%	-3.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.44%	25.05%	-6.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.44%	25.05%	-6.61%

AZTD vs. BOAT - Expense Ratio Comparison

AZTD has a 0.75% expense ratio, which is higher than BOAT's 0.69% expense ratio.

Dividends

AZTD vs. BOAT - Dividend Comparison

AZTD's dividend yield for the trailing twelve months is around 0.90%, less than BOAT's 6.37% yield.

Position	TTM	2025	2024	2023	2022	2021
AZTD Aztlan Global Stock Selection Dm SMID ETF	0.90%	1.05%	1.87%	0.12%	0.00%	0.00%
BOAT SonicShares Global Shipping ETF	6.37%	8.08%	13.89%	13.65%	13.57%	1.36%

Frequently Asked Questions

Can I hold both AZTD and BOAT in my portfolio?

AZTD and BOAT have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AZTD or BOAT?

BOAT has higher volatility (6.47%) compared to AZTD (4.25%). In terms of maximum drawdown, AZTD dropped -16.75% vs BOAT's -33.94%.

Which ETF is better, AZTD or BOAT?

On 3-year performance, BOAT leads with 26.76% vs 17.02% for AZTD. On fees, BOAT is cheaper at 0.69% per year. On volatility, AZTD has been the lower-risk option at 4.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AZTD or BOAT?

Over the 3-year period, BOAT has performed better with a 26.76% return vs 17.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AZTD or BOAT?

BOAT is cheaper with a 0.69% expense ratio, compared with 0.75% for AZTD.

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

BOAT has the higher dividend yield at 6.37%, compared with 0.90% for AZTD.

What is the main difference between AZTD and BOAT?

AZTD is categorized as Global Equities, while BOAT is Industrials Equities. AZTD tracks Solactive Aztlan Global Developed Markets SMID Cap Index - Benchmark TR Gross, while BOAT tracks Solactive Global Shipping Index. They also come from different issuers: Aztlan and Tidal. Their fees differ too: 0.75% for AZTD and 0.69% for BOAT.

Which has better risk-adjusted returns?

BOAT currently has the higher Sharpe Ratio (2.74 vs 1.20), 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.