DJP vs. BDRY
DJP (iPath Bloomberg Commodity Index Total Return ETN) and BDRY (Breakwave Dry Bulk Shipping ETF) are both Commodities funds - DJP tracks the Bloomberg Commodity Index while BDRY tracks the Breakwave Dry Freight Futures Index. Both are passively managed. Over the past 5 years, DJP returned 12.46%/yr vs -11.69%/yr for BDRY. At a 0.04 correlation, their price movements are largely independent. DJP charges 0.70%/yr vs 3.76%/yr for BDRY.
Performance
DJP vs. BDRY - Performance Comparison
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Returns By Period
In the year-to-date period, DJP achieves a 30.63% return, which is significantly lower than BDRY's 43.90% return.
DJP
- 1D
- 0.02%
- 1M
- -3.31%
- YTD
- 30.63%
- 6M
- 29.34%
- 1Y
- 44.52%
- 3Y*
- 17.94%
- 5Y*
- 12.46%
- 10Y*
- 7.36%
BDRY
- 1D
- -2.47%
- 1M
- 7.04%
- YTD
- 43.90%
- 6M
- 35.70%
- 1Y
- 142.69%
- 3Y*
- 27.14%
- 5Y*
- -11.69%
- 10Y*
- —
DJP vs. BDRY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DJP iPath Bloomberg Commodity Index Total Return ETN | 30.63% | 17.20% | 5.59% | -9.85% | 17.46% | 31.05% | -4.12% | 7.63% | -12.24% |
BDRY Breakwave Dry Bulk Shipping ETF | 43.90% | 44.24% | -47.40% | 25.79% | -68.84% | 282.99% | -50.16% | -15.92% | -27.98% |
Correlation
The correlation between DJP and BDRY is -0.00, 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 | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Mar 23, 2018 | 0.04 |
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Return for Risk
DJP vs. BDRY — Risk / Return Rank
DJP
BDRY
DJP vs. BDRY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iPath Bloomberg Commodity Index Total Return ETN (DJP) and Breakwave Dry Bulk Shipping ETF (BDRY). 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.
| DJP | BDRY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.45 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 5.20 | 6.65 | -1.45 |
| Martin ratioReturn relative to average drawdown | 13.30 | 19.36 | -6.06 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DJP | BDRY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.36 | 3.40 | -1.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | -0.19 | +0.85 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.00 | -0.13 | +0.14 |
Drawdowns
DJP vs. BDRY - Drawdown Comparison
The maximum DJP drawdown since its inception was -78.35%, smaller than the maximum BDRY drawdown of -89.16%. Use the drawdown chart below to compare losses from any high point for DJP and BDRY.
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Drawdown Indicators
| DJP | BDRY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.35% | -89.16% | +10.81% |
Max Drawdown (1Y)Largest decline over 1 year | -8.61% | -21.60% | +12.99% |
Max Drawdown (3Y)Largest decline over 3 years | -13.41% | -69.71% | +56.30% |
Max Drawdown (5Y)Largest decline over 5 years | -28.98% | -89.16% | +60.18% |
Max Drawdown (10Y)Largest decline over 10 years | -38.36% | — | — |
Current DrawdownCurrent decline from peak | -32.82% | -69.60% | +36.78% |
Average DrawdownAverage peak-to-trough decline | -50.86% | -58.38% | +7.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | 7.40% | -4.04% |
Volatility
DJP vs. BDRY - Volatility Comparison
The current volatility for iPath Bloomberg Commodity Index Total Return ETN (DJP) is 5.85%, while Breakwave Dry Bulk Shipping ETF (BDRY) has a volatility of 11.26%. This indicates that DJP experiences smaller price fluctuations and is considered to be less risky than BDRY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DJP | BDRY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.85% | 11.26% | -5.41% |
Volatility (6M)Calculated over the trailing 6-month period | 16.64% | 30.02% | -13.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.92% | 42.29% | -23.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.96% | 60.70% | -41.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.06% | 62.58% | -45.52% |
DJP vs. BDRY - Expense Ratio Comparison
DJP has a 0.70% expense ratio, which is lower than BDRY's 3.76% expense ratio.
Dividends
DJP vs. BDRY - Dividend Comparison
Neither DJP nor BDRY has paid dividends to shareholders.
Frequently Asked Questions
DJP and BDRY have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDRY has higher volatility (11.26%) compared to DJP (5.85%). In terms of maximum drawdown, DJP dropped -78.35% vs BDRY's -89.16%.
On 5-year performance, DJP leads with 12.46% vs -11.69% for BDRY. On fees, DJP is cheaper at 0.70% per year. On volatility, DJP has been the lower-risk option at 5.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DJP has performed better with a 12.46% return vs -11.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DJP is cheaper with a 0.70% expense ratio, compared with 3.76% for BDRY.
DJP and BDRY have nearly identical dividend yields, around 0.00%.
DJP tracks Bloomberg Commodity Index, while BDRY tracks Breakwave Dry Freight Futures Index. They also come from different issuers: Barclays Capital and ETFMG. Their fees differ too: 0.70% for DJP and 3.76% for BDRY.
BDRY currently has the higher Sharpe Ratio (3.40 vs 2.36), 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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