IMFL vs. BOAT

Last updated Aug 2, 2026

IMFL (Invesco International Developed Dynamic Multifactor ETF) and BOAT (SonicShares Global Shipping ETF) are both exchange-traded funds - IMFL is a Global Equities fund tracking the FTSE Developed ex US Invesco Dynamic Multifactor Index, while BOAT is a Industrials Equities fund tracking the Solactive Global Shipping Index. Both are passively managed. Over the past 3 years, IMFL returned 15.43%/yr vs 27.06%/yr for BOAT. Their 0.49 correlation means their historical movements had little consistent relationship. IMFL charges 0.34%/yr vs 0.69%/yr for BOAT.

Performance

IMFL vs. BOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco International Developed Dynamic Multifactor ETF (IMFL) 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, IMFL achieves a 16.64% return, which is significantly lower than BOAT's 44.78% return.

IMFL

• 1D: -0.84%
• 1M: 0.47%
• 6M: 8.85%
• YTD: 16.64%
• 1Y: 31.79%
• 3Y*: 15.43%
• 5Y*: 9.05%
• 10Y*: —
• ALL TIME*: 9.47%

BOAT

• 1D: -0.74%
• 1M: 13.24%
• 6M: 27.61%
• YTD: 44.78%
• 1Y: 59.34%
• 3Y*: 27.06%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 24.82%

*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)
BOAT SonicShares Global Shipping ETF	$1.27M	$891.42K	$991.19K
IMFL Invesco International Developed Dynamic Multifactor ETF	$3.20M	$3.16M	$2.56M

IMFL vs. BOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IMFL Invesco International Developed Dynamic Multifactor ETF	16.64%	30.89%	-3.57%	25.51%	-17.32%	-0.36%
BOAT SonicShares Global Shipping ETF	44.78%	22.77%	5.97%	24.53%	6.26%	21.24%

Correlation

The correlation between IMFL and BOAT is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.39
Correlation (3Y) Balances recent behavior with more history.	0.40
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021	0.49

The correlation between IMFL and BOAT shifts across timeframes, from 0.39 (1 year) to 0.49 (all time), reflecting how their relationship changes across market environments.

IMFL vs. BOAT - Sectors Allocation Comparison

Sectors	IMFL	BOAT
Industrials	1.8%	29.2%
Financial Services	1.2%	6.6%
Healthcare	1.1%	-
Consumer Cyclical	0.8%	-
Consumer Defensive	0.7%	-
Energy	0.5%	10.3%
Basic Materials	0.3%	-
Utilities	0.3%	-
Communication Services	0.2%	-
Technology	0.1%	-
Real Estate	0.0%	-

Return for Risk

IMFL vs. BOAT — Risk / Return Rank

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

IMFL

IMFL Risk / Return Rank: 77
IMFL Sharpe Ratio Rank: 80
IMFL Sortino Ratio Rank: 77
IMFL Omega Ratio Rank: 78
IMFL Calmar Ratio Rank: 75
IMFL Martin Ratio Rank: 73

BOAT

BOAT Risk / Return Rank: 93
BOAT Sharpe Ratio Rank: 96
BOAT Sortino Ratio Rank: 94
BOAT Omega Ratio Rank: 92
BOAT Calmar Ratio Rank: 95
BOAT Martin Ratio Rank: 90

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.

IMFL vs. BOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco International Developed Dynamic Multifactor ETF (IMFL) 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.

	IMFL	BOAT	Difference
Sharpe ratio: Return per unit of total volatility	1.84	2.85	-1.01
Sortino ratio: Return per unit of downside risk	2.49	3.70	-1.21
Omega ratio: Gain probability vs. loss probability	1.33	1.46	-0.13
Calmar ratio: Return relative to maximum drawdown	2.64	5.08	-2.44
Martin ratio: Return relative to average drawdown	9.10	14.33	-5.23

IMFL vs. BOAT - Sharpe Ratio Comparison

The current IMFL Sharpe Ratio is 1.84, which is lower than the BOAT Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of IMFL 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

IMFL vs. BOAT - Drawdown Comparison

The maximum IMFL drawdown since its inception was -33.26%, roughly equal to the maximum BOAT drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for IMFL and BOAT.

Drawdown Indicators

	IMFL	BOAT	Difference
Max Drawdown Largest peak-to-trough decline	-33.26%	-33.94%	+0.68%
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	-11.60%	-0.17%
Max Drawdown (3Y) Largest decline over 3 years	-13.52%	-33.94%	+20.42%
Max Drawdown (5Y) Largest decline over 5 years	-33.26%	-33.94%	+0.68%
Current Drawdown Current decline from peak	-1.54%	-0.74%	-0.80%
Average Drawdown Average peak-to-trough decline	-7.09%	-9.51%	+2.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	4.10%	-0.69%

Volatility

IMFL vs. BOAT - Volatility Comparison

The current volatility for Invesco International Developed Dynamic Multifactor ETF (IMFL) is 4.40%, while SonicShares Global Shipping ETF (BOAT) has a volatility of 7.09%. This indicates that IMFL 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

	IMFL	BOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.40%	7.09%	-2.69%
Volatility (6M) Calculated over the trailing 6-month period	14.68%	16.87%	-2.19%
Volatility (1Y) Calculated over the trailing 1-year period	16.97%	20.73%	-3.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.22%	25.07%	-8.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.11%	25.07%	-8.96%

IMFL vs. BOAT - Expense Ratio Comparison

IMFL has a 0.34% expense ratio, which is lower than BOAT's 0.69% expense ratio.

Dividends

IMFL vs. BOAT - Dividend Comparison

IMFL's dividend yield for the trailing twelve months is around 2.90%, less than BOAT's 6.35% yield.

Position	TTM	2025	2024	2023	2022	2021
BOAT SonicShares Global Shipping ETF	6.35%	8.08%	13.89%	13.65%	13.57%	1.36%
IMFL Invesco International Developed Dynamic Multifactor ETF	2.90%	2.88%	3.56%	3.85%	3.35%	3.94%

Frequently Asked Questions

Can I hold both IMFL and BOAT in my portfolio?

IMFL and BOAT have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IMFL or BOAT?

BOAT has higher volatility (7.09%) compared to IMFL (4.40%). In terms of maximum drawdown, IMFL dropped -33.26% vs BOAT's -33.94%.

Which ETF is better, IMFL or BOAT?

On 3-year performance, BOAT leads with 27.06% vs 15.43% for IMFL. On fees, IMFL is cheaper at 0.34% per year. On volatility, IMFL has been the lower-risk option at 4.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IMFL or BOAT?

Over the 3-year period, BOAT has performed better with a 27.06% return vs 15.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMFL or BOAT?

IMFL is cheaper with a 0.34% expense ratio, compared with 0.69% for BOAT.

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

BOAT has the higher dividend yield at 6.35%, compared with 2.90% for IMFL.

What is the main difference between IMFL and BOAT?

IMFL is categorized as Global Equities, while BOAT is Industrials Equities. IMFL tracks FTSE Developed ex US Invesco Dynamic Multifactor Index, while BOAT tracks Solactive Global Shipping Index. They also come from different issuers: Invesco and Tidal. Their fees differ too: 0.34% for IMFL and 0.69% for BOAT.

Which has better risk-adjusted returns?

BOAT currently has the higher Sharpe Ratio (2.85 vs 1.84), 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.