BDRY vs. SAFE

Last updated Apr 1, 2026

Compare and contrast key facts about Breakwave Dry Bulk Shipping ETF (BDRY) and Safehold Inc. (SAFE).

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. SAFE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Breakwave Dry Bulk Shipping ETF (BDRY) and Safehold Inc. (SAFE). The values are adjusted to include any dividend payments, if applicable.

BDRY vs. SAFE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BDRY Breakwave Dry Bulk Shipping ETF	13.68%	44.24%	-47.40%	25.79%	-68.84%	282.99%	-50.16%	-15.92%	-27.98%
SAFE Safehold Inc.	0.13%	-22.47%	-18.25%	-15.60%	-63.41%	11.15%	82.46%	118.07%	15.68%

Returns By Period

In the year-to-date period, BDRY achieves a 13.68% return, which is significantly higher than SAFE's 0.13% return.

BDRY

• 1D: 0.30%
• 1M: -17.40%
• YTD: 13.68%
• 6M: 32.76%
• 1Y: 59.52%
• 3Y*: -0.43%
• 5Y*: -11.08%
• 10Y*: —

SAFE

• 1D: 0.65%
• 1M: -15.07%
• YTD: 0.13%
• 6M: -10.35%
• 1Y: -24.11%
• 3Y*: -19.65%
• 5Y*: -26.00%
• 10Y*: —

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

Return for Risk

BDRY vs. SAFE — Risk / Return Rank

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

BDRY

BDRY Risk / Return Rank: 74
BDRY Sharpe Ratio Rank: 78
BDRY Sortino Ratio Rank: 77
BDRY Omega Ratio Rank: 66
BDRY Calmar Ratio Rank: 87
BDRY Martin Ratio Rank: 61

SAFE

SAFE Risk / Return Rank: 17
SAFE Sharpe Ratio Rank: 13
SAFE Sortino Ratio Rank: 15
SAFE Omega Ratio Rank: 16
SAFE Calmar Ratio Rank: 18
SAFE Martin Ratio Rank: 22

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. SAFE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Breakwave Dry Bulk Shipping ETF (BDRY) and Safehold Inc. (SAFE). 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	SAFE	Difference
Sharpe ratio Return per unit of total volatility	1.39	-0.66	+2.05
Sortino ratio Return per unit of downside risk	1.92	-0.76	+2.67
Omega ratio Gain probability vs. loss probability	1.23	0.91	+0.33
Calmar ratio Return relative to maximum drawdown	2.63	-0.69	+3.31
Martin ratio Return relative to average drawdown	5.84	-1.09	+6.93
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. SAFE - Sharpe Ratio Comparison

The current BDRY Sharpe Ratio is 1.39, which is higher than the SAFE Sharpe Ratio of -0.66. The chart below compares the historical Sharpe Ratios of BDRY and SAFE, 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	SAFE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	-0.66	+2.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.18	-0.65	+0.47
Sharpe Ratio (All Time) Calculated using the full available price history	-0.18	-0.03	-0.15

Correlation

The correlation between BDRY and SAFE 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.

Dividends

BDRY vs. SAFE - Dividend Comparison

BDRY has not paid dividends to shareholders, while SAFE's dividend yield for the trailing twelve months is around 5.23%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BDRY Breakwave Dry Bulk Shipping ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SAFE Safehold Inc.	5.23%	5.17%	3.83%	3.03%	2.45%	0.84%	1.10%	1.15%	3.19%	1.78%

Drawdowns

BDRY vs. SAFE - Drawdown Comparison

The maximum BDRY drawdown since its inception was -89.16%, which is greater than SAFE's maximum drawdown of -84.70%. Use the drawdown chart below to compare losses from any high point for BDRY and SAFE.

Drawdown Indicators

	BDRY	SAFE	Difference
Max Drawdown Largest peak-to-trough decline	-89.16%	-84.70%	-4.46%
Max Drawdown (1Y) Largest decline over 1 year	-21.60%	-28.83%	+7.23%
Max Drawdown (5Y) Largest decline over 5 years	-89.16%	-84.70%	-4.46%
Current Drawdown Current decline from peak	-75.98%	-83.35%	+7.37%
Average Drawdown Average peak-to-trough decline	-58.10%	-39.11%	-18.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.71%	19.09%	-9.38%

Volatility

BDRY vs. SAFE - Volatility Comparison

Breakwave Dry Bulk Shipping ETF (BDRY) has a higher volatility of 14.92% compared to Safehold Inc. (SAFE) at 8.17%. This indicates that BDRY's price experiences larger fluctuations and is considered to be riskier than SAFE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BDRY	SAFE	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.92%	8.17%	+6.75%
Volatility (6M) Calculated over the trailing 6-month period	30.83%	24.42%	+6.41%
Volatility (1Y) Calculated over the trailing 1-year period	42.98%	36.88%	+6.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.16%	40.19%	+21.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.97%	41.17%	+21.80%