FUMB vs. BDRY
FUMB (First Trust Ultra Short Duration Municipal ETF) and BDRY (Breakwave Dry Bulk Shipping ETF) are both exchange-traded funds - FUMB is a Municipal Bonds fund actively managed by First Trust, while BDRY is a Commodities fund tracking the Breakwave Dry Freight Futures Index. FUMB is actively managed, while BDRY is passively managed. Over the past 5 years, FUMB returned 1.96%/yr vs -11.69%/yr for BDRY. At a correlation of -0.05, they often move in opposite directions. FUMB charges 0.45%/yr vs 3.76%/yr for BDRY.
Performance
FUMB vs. BDRY - Performance Comparison
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Returns By Period
In the year-to-date period, FUMB achieves a 1.07% return, which is significantly lower than BDRY's 43.90% return.
FUMB
- 1D
- -0.03%
- 1M
- 0.15%
- YTD
- 1.07%
- 6M
- 1.30%
- 1Y
- 2.55%
- 3Y*
- 2.98%
- 5Y*
- 1.96%
- 10Y*
- —
BDRY
- 1D
- -2.47%
- 1M
- 7.04%
- YTD
- 43.90%
- 6M
- 35.70%
- 1Y
- 142.69%
- 3Y*
- 27.14%
- 5Y*
- -11.69%
- 10Y*
- —
FUMB vs. BDRY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FUMB First Trust Ultra Short Duration Municipal ETF | 1.07% | 2.78% | 3.05% | 2.84% | -0.03% | 0.38% | 1.25% | 1.76% | 0.30% |
BDRY Breakwave Dry Bulk Shipping ETF | 43.90% | 44.24% | -47.40% | 25.79% | -68.84% | 282.99% | -50.16% | -15.92% | -2.42% |
Correlation
The correlation between FUMB and BDRY is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2018 | -0.05 |
The correlation between FUMB and BDRY shifts across timeframes, from -0.14 (1 year) to -0.01 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FUMB vs. BDRY — Risk / Return Rank
FUMB
BDRY
FUMB vs. BDRY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Ultra Short Duration Municipal ETF (FUMB) 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.
| FUMB | BDRY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | +1.76 | ||
| Omega ratioGain probability vs. loss probability | 1.76 | 1.45 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 11.70 | 6.65 | +5.05 |
| Martin ratioReturn relative to average drawdown | 44.37 | 19.36 | +25.01 |
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
| FUMB | BDRY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.38 | 3.40 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.70 | -0.19 | +1.89 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.00 | -0.13 | +1.14 |
Drawdowns
FUMB vs. BDRY - Drawdown Comparison
The maximum FUMB drawdown since its inception was -2.68%, smaller than the maximum BDRY drawdown of -89.16%. Use the drawdown chart below to compare losses from any high point for FUMB and BDRY.
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Drawdown Indicators
| FUMB | BDRY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.68% | -89.16% | +86.48% |
Max Drawdown (1Y)Largest decline over 1 year | -0.22% | -21.60% | +21.38% |
Max Drawdown (3Y)Largest decline over 3 years | -0.60% | -69.71% | +69.11% |
Max Drawdown (5Y)Largest decline over 5 years | -1.25% | -89.16% | +87.91% |
Current DrawdownCurrent decline from peak | -0.03% | -69.60% | +69.57% |
Average DrawdownAverage peak-to-trough decline | -0.19% | -58.38% | +58.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | 7.40% | -7.34% |
Volatility
FUMB vs. BDRY - Volatility Comparison
The current volatility for First Trust Ultra Short Duration Municipal ETF (FUMB) is 0.20%, while Breakwave Dry Bulk Shipping ETF (BDRY) has a volatility of 11.26%. This indicates that FUMB 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
| FUMB | BDRY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.20% | 11.26% | -11.06% |
Volatility (6M)Calculated over the trailing 6-month period | 0.53% | 30.02% | -29.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.76% | 42.29% | -41.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.16% | 60.70% | -59.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.77% | 62.58% | -60.81% |
FUMB vs. BDRY - Expense Ratio Comparison
FUMB has a 0.45% expense ratio, which is lower than BDRY's 3.76% expense ratio.
Dividends
FUMB vs. BDRY - Dividend Comparison
FUMB's dividend yield for the trailing twelve months is around 2.80%, while BDRY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BDRY Breakwave Dry Bulk Shipping ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FUMB First Trust Ultra Short Duration Municipal ETF | 2.80% | 2.90% | 2.86% | 2.24% | 1.02% | 0.43% | 0.94% | 1.74% | 0.15% |
Frequently Asked Questions
FUMB and BDRY have a correlation of -0.14, 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 FUMB (0.20%). In terms of maximum drawdown, FUMB dropped -2.68% vs BDRY's -89.16%.
On 5-year performance, FUMB leads with 1.96% vs -11.69% for BDRY. On fees, FUMB is cheaper at 0.45% per year. On volatility, FUMB has been the lower-risk option at 0.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FUMB has performed better with a 1.96% return vs -11.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FUMB is cheaper with a 0.45% expense ratio, compared with 3.76% for BDRY.
FUMB has the higher dividend yield at 2.80%, compared with 0.00% for BDRY.
FUMB is categorized as Municipal Bonds, while BDRY is Commodities. They also come from different issuers: First Trust and ETFMG. Their fees differ too: 0.45% for FUMB and 3.76% for BDRY.
BDRY currently has the higher Sharpe Ratio (3.40 vs 3.38), 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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