BDRY vs. IPAY
BDRY (Breakwave Dry Bulk Shipping ETF) and IPAY (ETFMG Prime Mobile Payments ETF) are both exchange-traded funds - BDRY is a Commodities fund tracking the Breakwave Dry Freight Futures Index, while IPAY is a Technology Equities fund tracking the Prime Mobile Payments Index. Both are passively managed. Over the past 5 years, BDRY returned -17.14%/yr vs -8.73%/yr for IPAY. At a 0.03 correlation, their price movements are largely independent. BDRY charges 3.76%/yr vs 0.75%/yr for IPAY.
Performance
BDRY vs. IPAY - Performance Comparison
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Returns By Period
In the year-to-date period, BDRY achieves a 33.41% return, which is significantly higher than IPAY's -13.98% return.
BDRY
- 1D
- -0.59%
- 1M
- -7.69%
- YTD
- 33.41%
- 6M
- 33.41%
- 1Y
- 104.01%
- 3Y*
- 23.84%
- 5Y*
- -17.14%
- 10Y*
- —
IPAY
- 1D
- 2.55%
- 1M
- -1.05%
- YTD
- -13.98%
- 6M
- -15.52%
- 1Y
- -24.10%
- 3Y*
- 3.07%
- 5Y*
- -8.73%
- 10Y*
- 7.04%
BDRY vs. IPAY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BDRY Breakwave Dry Bulk Shipping ETF | 33.41% | 44.24% | -47.40% | 25.79% | -68.84% | 282.99% | -50.16% | -15.92% | -27.66% |
IPAY ETFMG Prime Mobile Payments ETF | -13.98% | -9.55% | 25.88% | 18.21% | -32.38% | -12.72% | 34.22% | 41.80% | -7.29% |
Correlation
The correlation between BDRY and IPAY is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2018 | 0.03 |
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Return for Risk
BDRY vs. IPAY — Risk / Return Rank
BDRY
IPAY
BDRY vs. IPAY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Breakwave Dry Bulk Shipping ETF (BDRY) and ETFMG Prime Mobile Payments ETF (IPAY). 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 | IPAY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.50 | ||
| Sortino ratioReturn per unit of downside risk | +4.22 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 0.84 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 4.84 | -0.77 | +5.61 |
| Martin ratioReturn relative to average drawdown | 13.57 | -1.38 | +14.95 |
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Drawdowns
BDRY vs. IPAY - Drawdown Comparison
The maximum BDRY drawdown since its inception was -89.16%, which is greater than IPAY's maximum drawdown of -51.75%. Use the drawdown chart below to compare losses from any high point for BDRY and IPAY.
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Drawdown Indicators
| BDRY | IPAY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.16% | -51.75% | -37.41% |
Max Drawdown (1Y)Largest decline over 1 year | -21.60% | -31.31% | +9.71% |
Max Drawdown (3Y)Largest decline over 3 years | -69.71% | -32.74% | -36.97% |
Max Drawdown (5Y)Largest decline over 5 years | -89.16% | -51.49% | -37.67% |
Max Drawdown (10Y)Largest decline over 10 years | — | -51.75% | — |
Current DrawdownCurrent decline from peak | -71.81% | -37.72% | -34.09% |
Average DrawdownAverage peak-to-trough decline | -58.44% | -16.78% | -41.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.69% | 17.54% | -9.85% |
Volatility
BDRY vs. IPAY - Volatility Comparison
The current volatility for Breakwave Dry Bulk Shipping ETF (BDRY) is 7.09%, while ETFMG Prime Mobile Payments ETF (IPAY) has a volatility of 8.33%. This indicates that BDRY experiences smaller price fluctuations and is considered to be less risky than IPAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BDRY | IPAY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.09% | 8.33% | -1.24% |
Volatility (6M)Calculated over the trailing 6-month period | 29.15% | 18.96% | +10.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.11% | 23.99% | +18.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.22% | 26.17% | +34.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.39% | 25.40% | +36.99% |
BDRY vs. IPAY - Expense Ratio Comparison
BDRY has a 3.76% expense ratio, which is higher than IPAY's 0.75% expense ratio.
Dividends
BDRY vs. IPAY - Dividend Comparison
BDRY has not paid dividends to shareholders, while IPAY's dividend yield for the trailing twelve months is around 0.92%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BDRY Breakwave Dry Bulk Shipping ETF | 0.00% | 0.00% | 0.00% |
IPAY ETFMG Prime Mobile Payments ETF | 0.92% | 0.79% | 0.77% |
Frequently Asked Questions
BDRY and IPAY have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IPAY has higher volatility (8.33%) compared to BDRY (7.09%). In terms of maximum drawdown, BDRY dropped -89.16% vs IPAY's -51.75%.
On 5-year performance, IPAY leads with -8.73% vs -17.14% for BDRY. On fees, IPAY is cheaper at 0.75% per year. On volatility, BDRY has been the lower-risk option at 7.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IPAY has performed better with a -8.73% return vs -17.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IPAY is cheaper with a 0.75% expense ratio, compared with 3.76% for BDRY.
IPAY has the higher dividend yield at 0.92%, compared with 0.00% for BDRY.
BDRY is categorized as Commodities, while IPAY is Technology Equities. BDRY tracks Breakwave Dry Freight Futures Index, while IPAY tracks Prime Mobile Payments Index. Their fees differ too: 3.76% for BDRY and 0.75% for IPAY.
BDRY currently has the higher Sharpe Ratio (2.48 vs -1.02), 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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