IPAY vs. BDRY
IPAY (ETFMG Prime Mobile Payments ETF) and BDRY (Breakwave Dry Bulk Shipping ETF) are both exchange-traded funds - IPAY is a Technology Equities fund tracking the Prime Mobile Payments Index, while BDRY is a Commodities fund tracking the Breakwave Dry Freight Futures Index. Both are passively managed. Over the past 5 years, IPAY returned -5.73%/yr vs -12.49%/yr for BDRY. Their 0.03 correlation means their historical movements had little consistent relationship. IPAY charges 0.75%/yr vs 3.76%/yr for BDRY.
Performance
IPAY vs. BDRY - Performance Comparison
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Returns By Period
In the year-to-date period, IPAY achieves a -2.46% return, which is significantly lower than BDRY's 59.06% return.
IPAY
- 1D
- 1.56%
- 1M
- 4.88%
- 6M
- 3.61%
- YTD
- -2.46%
- 1Y
- -9.51%
- 3Y*
- 6.01%
- 5Y*
- -5.73%
- 10Y*
- 7.66%
- ALL TIME*
- 6.67%
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 | |
| $3.69M | $3.96M | $2.49M |
IPAY vs. BDRY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IPAY ETFMG Prime Mobile Payments ETF | -2.46% | -9.55% | 25.88% | 18.21% | -32.38% | -12.72% | 34.22% | 41.80% | -7.29% |
BDRY Breakwave Dry Bulk Shipping ETF | 59.06% | 44.24% | -47.40% | 25.79% | -68.84% | 282.99% | -50.16% | -15.92% | -27.66% |
Correlation
The correlation between IPAY and BDRY is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.01 |
Correlation (3Y) Balances recent behavior with more history. | -0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.01 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2018 | 0.03 |
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Return for Risk
IPAY vs. BDRY — Risk / Return Rank
IPAY
BDRY
IPAY vs. BDRY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETFMG Prime Mobile Payments ETF (IPAY) 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.
| IPAY | BDRY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.58 | ||
| Sortino ratioReturn per unit of downside risk | -3.04 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.33 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.31 | 4.05 | -4.36 |
| Martin ratioReturn relative to average drawdown | -0.52 | 11.02 | -11.54 |
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Drawdowns
IPAY vs. BDRY - Drawdown Comparison
The maximum IPAY drawdown since its inception was -51.75%, smaller than the maximum BDRY drawdown of -89.16%. Use the drawdown chart below to compare losses from any high point for IPAY and BDRY.
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Drawdown Indicators
| IPAY | BDRY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.75% | -89.16% | +37.41% |
Max Drawdown (1Y)Largest decline over 1 year | -30.88% | -21.60% | -9.28% |
Max Drawdown (3Y)Largest decline over 3 years | -32.74% | -69.71% | +36.97% |
Max Drawdown (5Y)Largest decline over 5 years | -51.49% | -89.16% | +37.67% |
Max Drawdown (10Y)Largest decline over 10 years | -51.75% | — | — |
Current DrawdownCurrent decline from peak | -29.38% | -66.39% | +37.01% |
Average DrawdownAverage peak-to-trough decline | -16.93% | -58.58% | +41.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.21% | 7.92% | +10.29% |
Volatility
IPAY vs. BDRY - Volatility Comparison
The current volatility for ETFMG Prime Mobile Payments ETF (IPAY) is 7.11%, while Breakwave Dry Bulk Shipping ETF (BDRY) has a volatility of 11.15%. This indicates that IPAY 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
| IPAY | BDRY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.11% | 11.15% | -4.04% |
Volatility (6M)Calculated over the trailing 6-month period | 19.94% | 28.35% | -8.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.73% | 40.03% | -15.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.33% | 59.83% | -33.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.43% | 62.13% | -36.70% |
IPAY vs. BDRY - Expense Ratio Comparison
IPAY has a 0.75% expense ratio, which is lower than BDRY's 3.76% expense ratio.
Dividends
IPAY vs. BDRY - Dividend Comparison
IPAY's dividend yield for the trailing twelve months is around 0.81%, while BDRY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BDRY Breakwave Dry Bulk Shipping ETF | 0.00% | 0.00% | 0.00% |
IPAY ETFMG Prime Mobile Payments ETF | 0.81% | 0.79% | 0.77% |
Frequently Asked Questions
IPAY and BDRY have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDRY has higher volatility (11.15%) compared to IPAY (7.11%). In terms of maximum drawdown, IPAY dropped -51.75% vs BDRY's -89.16%.
On 5-year performance, IPAY leads with -5.73% vs -12.49% for BDRY. On fees, IPAY is cheaper at 0.75% per year. On volatility, IPAY has been the lower-risk option at 7.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IPAY has performed better with a -5.73% return vs -12.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IPAY is cheaper with a 0.75% expense ratio, compared with 3.76% for BDRY.
IPAY has the higher dividend yield at 0.81%, compared with 0.00% for BDRY.
IPAY is categorized as Technology Equities, while BDRY is Commodities. IPAY tracks Prime Mobile Payments Index, while BDRY tracks Breakwave Dry Freight Futures Index. Their fees differ too: 0.75% for IPAY and 3.76% for BDRY.
BDRY currently has the higher Sharpe Ratio (2.19 vs -0.39), 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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