IALT vs. BDRY
IALT (iShares Systematic Alternatives Active ETF) and BDRY (Breakwave Dry Bulk Shipping ETF) are both exchange-traded funds - IALT is a Multistrategy fund actively managed by iShares, while BDRY is a Commodities fund tracking the Breakwave Dry Freight Futures Index. IALT is actively managed, while BDRY is passively managed. Their -0.08 correlation means they have often moved in opposite directions in the past. IALT charges 0.99%/yr vs 3.76%/yr for BDRY.
Performance
IALT vs. BDRY - Performance Comparison
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Returns By Period
In the year-to-date period, IALT achieves a 13.85% return, which is significantly lower than BDRY's 59.06% return.
IALT
- 1D
- 0.21%
- 1M
- 2.39%
- 6M
- 11.00%
- YTD
- 13.85%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
BDRY
- 1D
- 3.95%
- 1M
- 13.69%
- 6M
- 24.55%
- YTD
- 59.06%
- 1Y
- 87.00%
- 3Y*
- 41.83%
- 5Y*
- -12.49%
- 10Y*
- —
- ALL TIME*
- -6.91%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $245.94K | $463.21K | $792.04K | |
| $40.45M | $35.41M | $114.47M |
IALT vs. BDRY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IALT iShares Systematic Alternatives Active ETF | 13.85% | 0.83% |
BDRY Breakwave Dry Bulk Shipping ETF | 59.06% | -0.68% |
Correlation
The correlation between IALT and BDRY is -0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 10, 2025 | -0.08 |
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Return for Risk
IALT vs. BDRY — Risk / Return Rank
IALT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BDRY
IALT vs. BDRY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Systematic Alternatives Active ETF (IALT) 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.
| IALT | BDRY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.33 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 4.05 | — |
| Martin ratioReturn relative to average drawdown | — | 11.02 | — |
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Drawdowns
IALT vs. BDRY - Drawdown Comparison
The maximum IALT drawdown since its inception was -2.27%, smaller than the maximum BDRY drawdown of -89.16%. Use the drawdown chart below to compare losses from any high point for IALT and BDRY.
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Drawdown Indicators
| IALT | BDRY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.27% | -89.16% | +86.89% |
Max Drawdown (1Y)Largest decline over 1 year | — | -21.60% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -69.71% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -89.16% | — |
Current DrawdownCurrent decline from peak | -0.55% | -66.39% | +65.84% |
Average DrawdownAverage peak-to-trough decline | -0.49% | -58.58% | +58.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 7.92% | — |
Volatility
IALT vs. BDRY - Volatility Comparison
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Volatility by Period
| IALT | BDRY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 11.15% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 28.35% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 8.01% | 40.03% | -32.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.01% | 59.83% | -51.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.01% | 62.13% | -54.12% |
IALT vs. BDRY - Expense Ratio Comparison
IALT has a 0.99% expense ratio, which is lower than BDRY's 3.76% expense ratio.
Dividends
IALT vs. BDRY - Dividend Comparison
IALT's dividend yield for the trailing twelve months is around 0.39%, while BDRY has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
BDRY Breakwave Dry Bulk Shipping ETF | 0.00% | 0.00% |
IALT iShares Systematic Alternatives Active ETF | 0.39% | 0.14% |
Frequently Asked Questions
IALT and BDRY have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IALT is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IALT is cheaper with a 0.99% expense ratio, compared with 3.76% for BDRY.
IALT has the higher dividend yield at 0.39%, compared with 0.00% for BDRY.
IALT is categorized as Multistrategy, while BDRY is Commodities. They also come from different issuers: iShares and ETFMG. Their fees differ too: 0.99% for IALT and 3.76% for BDRY.
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