INFR vs. BDRY

Last updated Jun 23, 2026

INFR (ClearBridge Sustainable Infrastructure ETF) and BDRY (Breakwave Dry Bulk Shipping ETF) are both exchange-traded funds - INFR is a Energy Equities fund tracking the RARE Global Infrastructure Index, while BDRY is a Commodities fund tracking the Breakwave Dry Freight Futures Index. Both are passively managed. Over the past 3 years, INFR returned 5.42%/yr vs 23.42%/yr for BDRY. At a correlation of -0.03, they often move in opposite directions. INFR charges 0.59%/yr vs 3.76%/yr for BDRY.

Performance

INFR vs. BDRY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ClearBridge Sustainable Infrastructure ETF (INFR) 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, INFR achieves a 1.41% return, which is significantly lower than BDRY's 32.04% return.

INFR

• 1D: 0.00%
• 1M: 0.00%
• YTD: 1.41%
• 6M: 2.04%
• 1Y: 7.57%
• 3Y*: 5.42%
• 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)

INFR vs. BDRY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
INFR ClearBridge Sustainable Infrastructure ETF	1.41%	24.00%	-6.23%	5.20%	-0.19%
BDRY Breakwave Dry Bulk Shipping ETF	32.04%	44.24%	-47.40%	25.79%	-5.84%

Correlation

The correlation between INFR 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 (3Y) Calculated over the trailing 3-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Dec 16, 2022	-0.03

Return for Risk

INFR vs. BDRY — Risk / Return Rank

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

INFR

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

INFR vs. BDRY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ClearBridge Sustainable Infrastructure ETF (INFR) 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.

	INFR	BDRY	Difference
Sharpe ratio: Return per unit of total volatility	0.93	2.44	-1.51
Sortino ratio: Return per unit of downside risk	1.36	2.88	-1.52
Omega ratio: Gain probability vs. loss probability	1.21	1.36	-0.15
Calmar ratio: Return relative to maximum drawdown	1.28	4.75	-3.47
Martin ratio: Return relative to average drawdown	3.97	13.45	-9.48

INFR vs. BDRY - Sharpe Ratio Comparison

The current INFR Sharpe Ratio is 0.93, which is lower than the BDRY Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of INFR 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

INFR vs. BDRY - Drawdown Comparison

The maximum INFR drawdown since its inception was -19.28%, smaller than the maximum BDRY drawdown of -89.16%. Use the drawdown chart below to compare losses from any high point for INFR and BDRY.

Drawdown Indicators

	INFR	BDRY	Difference
Max Drawdown Largest peak-to-trough decline	-19.28%	-89.16%	+69.88%
Max Drawdown (1Y) Largest decline over 1 year	-6.43%	-21.60%	+15.17%
Max Drawdown (3Y) Largest decline over 3 years	-18.48%	-69.71%	+51.23%
Max Drawdown (5Y) Largest decline over 5 years	—	-89.16%	—
Current Drawdown Current decline from peak	-0.70%	-72.10%	+71.40%
Average Drawdown Average peak-to-trough decline	-4.91%	-58.42%	+53.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	7.62%	-5.58%

Volatility

INFR vs. BDRY - Volatility Comparison

The current volatility for ClearBridge Sustainable Infrastructure ETF (INFR) is 0.00%, while Breakwave Dry Bulk Shipping ETF (BDRY) has a volatility of 7.86%. This indicates that INFR 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.

Volatility by Period

	INFR	BDRY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	7.86%	-7.86%
Volatility (6M) Calculated over the trailing 6-month period	3.73%	29.21%	-25.48%
Volatility (1Y) Calculated over the trailing 1-year period	8.90%	42.17%	-33.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.24%	60.25%	-46.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.24%	62.41%	-48.17%

INFR vs. BDRY - Expense Ratio Comparison

INFR has a 0.59% expense ratio, which is lower than BDRY's 3.76% expense ratio.

Dividends

INFR vs. BDRY - Dividend Comparison

Neither INFR nor BDRY has paid dividends to shareholders.

Position	TTM	2025	2024	2023
BDRY Breakwave Dry Bulk Shipping ETF	0.00%	0.00%	0.00%	0.00%
INFR ClearBridge Sustainable Infrastructure ETF	1.71%	2.52%	2.36%	3.06%

Frequently Asked Questions

Can I hold both INFR and BDRY in my portfolio?

INFR 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, INFR or BDRY?

BDRY has higher volatility (7.86%) compared to INFR (0.00%). In terms of maximum drawdown, INFR dropped -19.28% vs BDRY's -89.16%.

Which ETF is better, INFR or BDRY?

On 3-year performance, BDRY leads with 23.42% vs 5.42% for INFR. On fees, INFR is cheaper at 0.59% per year. On volatility, INFR has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, INFR or BDRY?

Over the 3-year period, BDRY has performed better with a 23.42% return vs 5.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INFR or BDRY?

INFR is cheaper with a 0.59% expense ratio, compared with 3.76% for BDRY.

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

INFR has the higher dividend yield at 1.71%, compared with 0.00% for BDRY.

What is the main difference between INFR and BDRY?

INFR is categorized as Energy Equities, while BDRY is Commodities. INFR tracks RARE Global Infrastructure Index, while BDRY tracks Breakwave Dry Freight Futures Index. They also come from different issuers: ClearBridge and ETFMG. Their fees differ too: 0.59% for INFR and 3.76% for BDRY.

Which has better risk-adjusted returns?

BDRY currently has the higher Sharpe Ratio (2.44 vs 0.93), 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.