BDRY vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about Breakwave Dry Bulk Shipping ETF (BDRY) and S&P 500 Index (^GSPC).

BDRY is a passively managed fund by ETFMG that tracks the performance of the Breakwave Dry Freight Futures Index. It was launched on Mar 22, 2018.

Performance

BDRY vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Breakwave Dry Bulk Shipping ETF (BDRY) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

BDRY vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BDRY Breakwave Dry Bulk Shipping ETF	17.73%	44.24%	-47.40%	25.79%	-68.84%	282.99%	-50.16%	-15.92%	-27.98%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-5.18%

Returns By Period

In the year-to-date period, BDRY achieves a 17.73% return, which is significantly higher than ^GSPC's -3.95% return.

BDRY

• 1D: 3.56%
• 1M: -15.51%
• YTD: 17.73%
• 6M: 36.21%
• 1Y: 58.85%
• 3Y*: 0.74%
• 5Y*: -10.45%
• 10Y*: —

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

BDRY vs. ^GSPC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BDRY

BDRY Risk / Return Rank: 72
BDRY Sharpe Ratio Rank: 73
BDRY Sortino Ratio Rank: 73
BDRY Omega Ratio Rank: 60
BDRY Calmar Ratio Rank: 89
BDRY Martin Ratio Rank: 63

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BDRY vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Breakwave Dry Bulk Shipping ETF (BDRY) and S&P 500 Index (^GSPC). 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.

	BDRY	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.38	0.92	+0.46
Sortino ratio Return per unit of downside risk	1.90	1.41	+0.49
Omega ratio Gain probability vs. loss probability	1.23	1.21	+0.02
Calmar ratio Return relative to maximum drawdown	3.02	1.41	+1.60
Martin ratio Return relative to average drawdown	6.67	6.61	+0.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BDRY vs. ^GSPC - Sharpe Ratio Comparison

The current BDRY Sharpe Ratio is 1.38, which is higher than the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of BDRY and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BDRY	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	0.92	+0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.17	0.61	-0.78
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.17	0.46	-0.63

Correlation

The correlation between BDRY and ^GSPC is 0.04, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

BDRY vs. ^GSPC - Drawdown Comparison

The maximum BDRY drawdown since its inception was -89.16%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for BDRY and ^GSPC.

Drawdown Indicators

	BDRY	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-89.16%	-56.78%	-32.38%
Max Drawdown (1Y) Largest decline over 1 year	-21.60%	-12.14%	-9.46%
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 Drawdown Current decline from peak	-75.13%	-5.78%	-69.35%
Average Drawdown Average peak-to-trough decline	-58.11%	-10.75%	-47.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.78%	2.60%	+7.18%

Volatility

BDRY vs. ^GSPC - Volatility Comparison

Breakwave Dry Bulk Shipping ETF (BDRY) has a higher volatility of 15.25% compared to S&P 500 Index (^GSPC) at 5.37%. This indicates that BDRY's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BDRY	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.25%	5.37%	+9.88%
Volatility (6M) Calculated over the trailing 6-month period	30.79%	9.55%	+21.24%
Volatility (1Y) Calculated over the trailing 1-year period	43.07%	18.33%	+24.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.12%	16.90%	+45.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.97%	18.05%	+44.92%