BDRY vs. ^GSPC
BDRY (Breakwave Dry Bulk Shipping ETF) is Commodities fund tracking the Breakwave Dry Freight Futures Index, while ^GSPC (S&P 500 Index) is an index. Over the past 5 years, BDRY returned -12.25%/yr vs 11.25%/yr for ^GSPC. Their 0.04 correlation means their historical movements had little consistent relationship.
Performance
BDRY vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, BDRY achieves a 53.02% return, which is significantly higher than ^GSPC's 9.41% return.
BDRY
- 1D
- 0.45%
- 1M
- 9.37%
- 6M
- 16.39%
- YTD
- 53.02%
- 1Y
- 79.89%
- 3Y*
- 39.44%
- 5Y*
- -12.25%
- 10Y*
- —
- ALL TIME*
- -7.35%
^GSPC
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
^GSPC S&P 500 Index | $37.98T | $37.61T | $41.48T |
| $397.41K | $463.93K | $806.29K |
BDRY vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BDRY Breakwave Dry Bulk Shipping ETF | 53.02% | 44.24% | -47.40% | 25.79% | -68.84% | 282.99% | -50.16% | -15.92% | -27.66% |
^GSPC S&P 500 Index | 9.41% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -7.56% |
Correlation
The correlation between BDRY and ^GSPC is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.01 |
Correlation (3Y) Balances recent behavior with more history. | 0.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.02 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2018 | 0.04 |
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Return for Risk
BDRY vs. ^GSPC — Risk / Return Rank
BDRY
^GSPC
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.
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 | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.25 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.79 | 2.00 | +1.78 |
| Martin ratioReturn relative to average drawdown | 10.30 | 8.49 | +1.81 |
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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.
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Drawdown Indicators
| BDRY | ^GSPC | 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 | -67.67% | -1.58% | -66.09% |
Average DrawdownAverage peak-to-trough decline | -58.58% | -10.70% | -47.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.92% | 2.14% | +5.78% |
Volatility
BDRY vs. ^GSPC - Volatility Comparison
Breakwave Dry Bulk Shipping ETF (BDRY) has a higher volatility of 10.70% compared to S&P 500 Index (^GSPC) at 3.51%. 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.
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Volatility by Period
| BDRY | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.70% | 3.51% | +7.19% |
Volatility (6M)Calculated over the trailing 6-month period | 28.10% | 10.11% | +17.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.11% | 12.87% | +27.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.80% | 17.01% | +42.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.13% | 18.07% | +44.06% |
Frequently Asked Questions
BDRY and ^GSPC have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDRY has higher volatility (10.70%) compared to ^GSPC (3.51%). In terms of maximum drawdown, BDRY dropped -89.16% vs ^GSPC's -56.78%.
BDRY currently has the higher Sharpe Ratio (2.06 vs 1.42), 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.
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