BEP vs. BOAT

Last updated Jun 24, 2026

BEP (Brookfield Renewable Partners L.P.) is a stock, while BOAT (SonicShares Global Shipping ETF) is Transportation Equities fund tracking the Solactive Global Shipping Index. Over the past 3 years, BEP returned 12.59%/yr vs 28.90%/yr for BOAT. At a 0.27 correlation, their price movements are largely independent.

Performance

BEP vs. BOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brookfield Renewable Partners L.P. (BEP) and SonicShares Global Shipping ETF (BOAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with BEP having a 34.43% return and BOAT slightly lower at 33.67%.

BEP

• 1D: -0.84%
• 1M: 0.83%
• YTD: 34.43%
• 6M: 33.14%
• 1Y: 47.87%
• 3Y*: 12.59%
• 5Y*: 4.13%
• 10Y*: 14.40%

BOAT

• 1D: 0.10%
• 1M: -0.62%
• YTD: 33.67%
• 6M: 34.50%
• 1Y: 49.12%
• 3Y*: 28.90%
• 5Y*: —
• 10Y*: —

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

BEP vs. BOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BEP Brookfield Renewable Partners L.P.	34.43%	25.65%	-8.23%	9.02%	-26.48%	-6.27%
BOAT SonicShares Global Shipping ETF	33.67%	22.77%	5.97%	24.53%	6.26%	21.24%

Correlation

The correlation between BEP and BOAT is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021	0.27

The correlation between BEP and BOAT shifts across timeframes, from 0.16 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BEP vs. BOAT — Risk / Return Rank

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

BEP

BEP Risk / Return Rank: 83
BEP Sharpe Ratio Rank: 84
BEP Sortino Ratio Rank: 81
BEP Omega Ratio Rank: 80
BEP Calmar Ratio Rank: 86
BEP Martin Ratio Rank: 83

BOAT

BOAT Risk / Return Rank: 78
BOAT Sharpe Ratio Rank: 82
BOAT Sortino Ratio Rank: 79
BOAT Omega Ratio Rank: 74
BOAT Calmar Ratio Rank: 83
BOAT Martin Ratio Rank: 73

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.

BEP vs. BOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brookfield Renewable Partners L.P. (BEP) 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.

	BEP	BOAT	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.50	-0.83
Sortino ratio: Return per unit of downside risk	2.30	3.30	-1.00
Omega ratio: Gain probability vs. loss probability	1.29	1.42	-0.12
Calmar ratio: Return relative to maximum drawdown	3.37	4.25	-0.88
Martin ratio: Return relative to average drawdown	7.66	13.08	-5.42

BEP vs. BOAT - Sharpe Ratio Comparison

The current BEP Sharpe Ratio is 1.67, which is lower than the BOAT Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of BEP 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

BEP vs. BOAT - Drawdown Comparison

The maximum BEP drawdown since its inception was -53.85%, which is greater than BOAT's maximum drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for BEP and BOAT.

Drawdown Indicators

	BEP	BOAT	Difference
Max Drawdown Largest peak-to-trough decline	-53.85%	-33.94%	-19.91%
Max Drawdown (1Y) Largest decline over 1 year	-14.25%	-11.60%	-2.65%
Max Drawdown (3Y) Largest decline over 3 years	-31.78%	-33.94%	+2.16%
Max Drawdown (5Y) Largest decline over 5 years	-47.46%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-53.85%	—	—
Current Drawdown Current decline from peak	-6.26%	-3.87%	-2.39%
Average Drawdown Average peak-to-trough decline	-13.61%	-9.64%	-3.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.27%	3.80%	+2.47%

Volatility

BEP vs. BOAT - Volatility Comparison

Brookfield Renewable Partners L.P. (BEP) has a higher volatility of 7.71% compared to SonicShares Global Shipping ETF (BOAT) at 6.09%. This indicates that BEP's price experiences larger fluctuations and is considered to be riskier than BOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BEP	BOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.71%	6.09%	+1.62%
Volatility (6M) Calculated over the trailing 6-month period	19.64%	15.68%	+3.96%
Volatility (1Y) Calculated over the trailing 1-year period	28.81%	19.72%	+9.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.01%	25.05%	+5.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.01%	25.05%	+4.96%

Dividends

BEP vs. BOAT - Dividend Comparison

BEP's dividend yield for the trailing twelve months is around 4.32%, less than BOAT's 6.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BEP Brookfield Renewable Partners L.P.	4.32%	5.53%	6.23%	5.14%	5.05%	4.42%	2.68%	4.42%	7.57%	5.36%	5.99%	6.34%
BOAT SonicShares Global Shipping ETF	6.13%	8.08%	13.89%	13.65%	13.57%	1.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BEP and BOAT in my portfolio?

BEP and BOAT have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BEP or BOAT?

BEP has higher volatility (7.71%) compared to BOAT (6.09%). In terms of maximum drawdown, BEP dropped -53.85% vs BOAT's -33.94%.

Which has better risk-adjusted returns?

BOAT currently has the higher Sharpe Ratio (2.50 vs 1.67), 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.