HIMZ vs. BDRY

Last updated Jun 23, 2026

HIMZ (Defiance Daily Target 2X Long HIMS ETF) and BDRY (Breakwave Dry Bulk Shipping ETF) are both exchange-traded funds - HIMZ is a Leveraged Equities fund actively managed by Defiance, while BDRY is a Commodities fund tracking the Breakwave Dry Freight Futures Index. HIMZ is actively managed, while BDRY is passively managed. Over the past year, HIMZ returned -93.28% vs 102.09% for BDRY. At a correlation of -0.10, they often move in opposite directions. HIMZ charges 1.31%/yr vs 3.76%/yr for BDRY.

Performance

HIMZ vs. BDRY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long HIMS ETF (HIMZ) and Breakwave Dry Bulk Shipping ETF (BDRY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HIMZ achieves a -42.46% return, which is significantly lower than BDRY's 32.04% return.

HIMZ

• 1D: -10.79%
• 1M: 84.86%
• YTD: -42.46%
• 6M: -51.22%
• 1Y: -93.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BDRY

• 1D: 0.09%
• 1M: -8.64%
• YTD: 32.04%
• 6M: 30.41%
• 1Y: 102.09%
• 3Y*: 23.42%
• 5Y*: -16.12%
• 10Y*: —

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

HIMZ vs. BDRY - Yearly Performance Comparison

	2026 (YTD)	2025
HIMZ Defiance Daily Target 2X Long HIMS ETF	-42.46%	-69.65%
BDRY Breakwave Dry Bulk Shipping ETF	32.04%	22.83%

Correlation

The correlation between HIMZ and BDRY is -0.10, 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	-0.10
Correlation (All Time) Calculated using the full available price history since Mar 13, 2025	-0.10

Return for Risk

HIMZ vs. BDRY — Risk / Return Rank

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

HIMZ

HIMZ Risk / Return Rank: 4
HIMZ Sharpe Ratio Rank: 5
HIMZ Sortino Ratio Rank: 5
HIMZ Omega Ratio Rank: 5
HIMZ Calmar Ratio Rank: 1
HIMZ Martin Ratio Rank: 3

BDRY

BDRY Risk / Return Rank: 73
BDRY Sharpe Ratio Rank: 80
BDRY Sortino Ratio Rank: 65
BDRY Omega Ratio Rank: 60
BDRY Calmar Ratio Rank: 87
BDRY Martin Ratio Rank: 74

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.

HIMZ vs. BDRY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long HIMS ETF (HIMZ) 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.

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.

	HIMZ	BDRY	Difference
Sharpe ratio: Return per unit of total volatility	-0.48	2.44	-2.92
Sortino ratio: Return per unit of downside risk	-0.51	2.88	-3.38
Omega ratio: Gain probability vs. loss probability	0.94	1.36	-0.42
Calmar ratio: Return relative to maximum drawdown	-0.96	4.75	-5.71
Martin ratio: Return relative to average drawdown	-1.25	13.45	-14.70

HIMZ vs. BDRY - Sharpe Ratio Comparison

The current HIMZ Sharpe Ratio is -0.48, which is lower than the BDRY Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of HIMZ and BDRY, 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

HIMZ vs. BDRY - Drawdown Comparison

The maximum HIMZ drawdown since its inception was -98.18%, which is greater than BDRY's maximum drawdown of -89.16%. Use the drawdown chart below to compare losses from any high point for HIMZ and BDRY.

Drawdown Indicators

	HIMZ	BDRY	Difference
Max Drawdown Largest peak-to-trough decline	-98.18%	-89.16%	-9.02%
Max Drawdown (1Y) Largest decline over 1 year	-97.18%	-21.60%	-75.58%
Max Drawdown (3Y) Largest decline over 3 years	—	-69.71%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-89.16%	—
Current Drawdown Current decline from peak	-93.75%	-72.10%	-21.65%
Average Drawdown Average peak-to-trough decline	-69.71%	-58.42%	-11.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	81.79%	7.62%	+74.17%

Volatility

HIMZ vs. BDRY - Volatility Comparison

Defiance Daily Target 2X Long HIMS ETF (HIMZ) has a higher volatility of 46.24% compared to Breakwave Dry Bulk Shipping ETF (BDRY) at 7.86%. This indicates that HIMZ's price experiences larger fluctuations and is considered to be riskier than BDRY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIMZ	BDRY	Difference
Volatility (1M) Calculated over the trailing 1-month period	46.24%	7.86%	+38.38%
Volatility (6M) Calculated over the trailing 6-month period	136.23%	29.21%	+107.02%
Volatility (1Y) Calculated over the trailing 1-year period	195.42%	42.17%	+153.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	200.59%	60.25%	+140.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	200.59%	62.41%	+138.18%

HIMZ vs. BDRY - Expense Ratio Comparison

HIMZ has a 1.31% expense ratio, which is lower than BDRY's 3.76% expense ratio.

Dividends

HIMZ vs. BDRY - Dividend Comparison

HIMZ's dividend yield for the trailing twelve months is around 4.25%, while BDRY has not paid dividends to shareholders.

Position	TTM	2025
BDRY Breakwave Dry Bulk Shipping ETF	0.00%	0.00%
HIMZ Defiance Daily Target 2X Long HIMS ETF	4.25%	2.44%

Frequently Asked Questions

Can I hold both HIMZ and BDRY in my portfolio?

HIMZ and BDRY have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HIMZ or BDRY?

HIMZ has higher volatility (46.24%) compared to BDRY (7.86%). In terms of maximum drawdown, HIMZ dropped -98.18% vs BDRY's -89.16%.

Which ETF is better, HIMZ or BDRY?

On 1-year performance, BDRY leads with 102.09% vs -93.28% for HIMZ. On fees, HIMZ is cheaper at 1.31% per year. On volatility, BDRY has been the lower-risk option at 7.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HIMZ or BDRY?

Over the 1-year period, BDRY has performed better with a 102.09% return vs -93.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HIMZ or BDRY?

HIMZ is cheaper with a 1.31% expense ratio, compared with 3.76% for BDRY.

Which ETF pays a higher dividend yield, HIMZ or BDRY?

HIMZ has the higher dividend yield at 4.25%, compared with 0.00% for BDRY.

What is the main difference between HIMZ and BDRY?

HIMZ is categorized as Leveraged Equities, while BDRY is Commodities. They also come from different issuers: Defiance and ETFMG. Their fees differ too: 1.31% for HIMZ and 3.76% for BDRY.

Which has better risk-adjusted returns?

BDRY currently has the higher Sharpe Ratio (2.44 vs -0.48), 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.