BLES vs. BOAT

Last updated Aug 6, 2026

BLES (Inspire Global Hope ETF) and BOAT (SonicShares Global Shipping ETF) are both exchange-traded funds - BLES is a Global Equities fund tracking the Inspire Global Hope Large Cap Equal Weight Index, while BOAT is a Industrials Equities fund tracking the Solactive Global Shipping Index. Both are passively managed. Over the past 5 years, BLES returned 8.30%/yr vs 24.02%/yr for BOAT. Their 0.50 correlation means their historical movements had little consistent relationship. BLES charges 0.58%/yr vs 0.69%/yr for BOAT.

Performance

BLES vs. BOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Inspire Global Hope ETF (BLES) and SonicShares Global Shipping ETF (BOAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BLES achieves a 15.92% return, which is significantly lower than BOAT's 42.13% return.

BLES

• 1D: -0.44%
• 1M: 2.72%
• 6M: 9.60%
• YTD: 15.92%
• 1Y: 23.59%
• 3Y*: 15.63%
• 5Y*: 8.30%
• 10Y*: —
• ALL TIME*: 10.42%

BOAT

• 1D: -1.60%
• 1M: 8.65%
• 6M: 25.47%
• YTD: 42.13%
• 1Y: 50.36%
• 3Y*: 26.08%
• 5Y*: 24.02%
• 10Y*: —
• ALL TIME*: 24.28%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BLES Inspire Global Hope ETF	$597.33K	$468.61K	$442.76K
BOAT SonicShares Global Shipping ETF	$1.73M	$1.10M	$1.06M

BLES vs. BOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BLES Inspire Global Hope ETF	15.92%	19.25%	5.59%	16.47%	-16.21%	4.46%
BOAT SonicShares Global Shipping ETF	42.13%	22.77%	5.97%	24.53%	6.26%	21.24%

Correlation

The correlation between BLES and BOAT is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (3Y) Balances recent behavior with more history.	0.41
Correlation (5Y) Shows whether the relationship held over a longer period.	0.50
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021	0.50

The correlation between BLES and BOAT shifts across timeframes, from 0.40 (1 year) to 0.50 (all time), reflecting how their relationship changes across market environments.

BLES vs. BOAT - Sectors Allocation Comparison

Sectors	BLES	BOAT
Industrials	20.7%	29.2%
Technology	17.3%	-
Financial Services	13.0%	6.6%
Basic Materials	9.1%	-
Real Estate	7.9%	-
Healthcare	7.4%	-
Utilities	7.1%	-
Consumer Cyclical	6.5%	-
Energy	5.6%	10.3%
Consumer Defensive	4.5%	-
Communication Services	0.9%	-

Return for Risk

BLES vs. BOAT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BLES

BLES Risk / Return Rank: 72
BLES Sharpe Ratio Rank: 71
BLES Sortino Ratio Rank: 72
BLES Omega Ratio Rank: 68
BLES Calmar Ratio Rank: 72
BLES Martin Ratio Rank: 76

BOAT

BOAT Risk / Return Rank: 87
BOAT Sharpe Ratio Rank: 90
BOAT Sortino Ratio Rank: 88
BOAT Omega Ratio Rank: 84
BOAT Calmar Ratio Rank: 91
BOAT Martin Ratio Rank: 82

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BLES vs. BOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Inspire Global Hope ETF (BLES) 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.

	BLES	BOAT	Difference
Sharpe ratio: Return per unit of total volatility	1.85	2.46	-0.60
Sortino ratio: Return per unit of downside risk	2.63	3.26	-0.63
Omega ratio: Gain probability vs. loss probability	1.33	1.40	-0.07
Calmar ratio: Return relative to maximum drawdown	2.86	4.36	-1.50
Martin ratio: Return relative to average drawdown	10.94	12.30	-1.36

BLES vs. BOAT - Sharpe Ratio Comparison

The current BLES Sharpe Ratio is 1.85, which is comparable to the BOAT Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of BLES 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

BLES vs. BOAT - Drawdown Comparison

The maximum BLES drawdown since its inception was -40.35%, which is greater than BOAT's maximum drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for BLES and BOAT.

Drawdown Indicators

	BLES	BOAT	Difference
Max Drawdown Largest peak-to-trough decline	-40.35%	-33.94%	-6.41%
Max Drawdown (1Y) Largest decline over 1 year	-8.29%	-11.60%	+3.31%
Max Drawdown (3Y) Largest decline over 3 years	-15.46%	-33.94%	+18.48%
Max Drawdown (5Y) Largest decline over 5 years	-26.61%	-33.94%	+7.33%
Current Drawdown Current decline from peak	-0.44%	-2.56%	+2.12%
Average Drawdown Average peak-to-trough decline	-5.95%	-9.49%	+3.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	4.11%	-1.95%

Volatility

BLES vs. BOAT - Volatility Comparison

The current volatility for Inspire Global Hope ETF (BLES) is 3.02%, while SonicShares Global Shipping ETF (BOAT) has a volatility of 6.75%. This indicates that BLES experiences smaller price fluctuations and is considered to be less risky than BOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLES	BOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.02%	6.75%	-3.73%
Volatility (6M) Calculated over the trailing 6-month period	10.29%	16.96%	-6.67%
Volatility (1Y) Calculated over the trailing 1-year period	12.77%	20.71%	-7.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.42%	25.03%	-8.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.84%	25.06%	-6.22%

BLES vs. BOAT - Expense Ratio Comparison

BLES has a 0.58% expense ratio, which is lower than BOAT's 0.69% expense ratio.

Dividends

BLES vs. BOAT - Dividend Comparison

BLES's dividend yield for the trailing twelve months is around 1.77%, less than BOAT's 6.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BLES Inspire Global Hope ETF	1.77%	1.97%	1.90%	1.80%	1.64%	9.28%	1.61%	2.16%	1.73%	2.01%
BOAT SonicShares Global Shipping ETF	6.47%	8.08%	13.89%	13.65%	13.57%	1.36%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BLES and BOAT in my portfolio?

BLES and BOAT have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BLES or BOAT?

BOAT has higher volatility (6.75%) compared to BLES (3.02%). In terms of maximum drawdown, BLES dropped -40.35% vs BOAT's -33.94%.

Which ETF is better, BLES or BOAT?

On 5-year performance, BOAT leads with 24.02% vs 8.30% for BLES. On fees, BLES is cheaper at 0.58% per year. On volatility, BLES has been the lower-risk option at 3.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BLES or BOAT?

Over the 5-year period, BOAT has performed better with a 24.02% return vs 8.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BLES or BOAT?

BLES is cheaper with a 0.58% expense ratio, compared with 0.69% for BOAT.

Which ETF pays a higher dividend yield, BLES or BOAT?

BOAT has the higher dividend yield at 6.47%, compared with 1.77% for BLES.

What is the main difference between BLES and BOAT?

BLES is categorized as Global Equities, while BOAT is Industrials Equities. BLES tracks Inspire Global Hope Large Cap Equal Weight Index, while BOAT tracks Solactive Global Shipping Index. They also come from different issuers: Inspire and Tidal. Their fees differ too: 0.58% for BLES and 0.69% for BOAT.

Which has better risk-adjusted returns?

BOAT currently has the higher Sharpe Ratio (2.46 vs 1.85), 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.