MJ vs. BDRY

Last updated Jun 25, 2026

MJ (ETFMG Alternative Harvest ETF) and BDRY (Breakwave Dry Bulk Shipping ETF) are both exchange-traded funds - MJ is a Small Cap Blend Equities fund tracking the Prime Alternative Harvest Index, while BDRY is a Commodities fund tracking the Breakwave Dry Freight Futures Index. Both are passively managed. Over the past 5 years, MJ returned -35.95%/yr vs -17.14%/yr for BDRY. At a 0.02 correlation, their price movements are largely independent. MJ charges 0.75%/yr vs 3.76%/yr for BDRY.

Performance

MJ vs. BDRY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETFMG Alternative Harvest ETF (MJ) 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, MJ achieves a -19.27% return, which is significantly lower than BDRY's 33.41% return.

MJ

• 1D: 1.14%
• 1M: -3.72%
• YTD: -19.27%
• 6M: -22.79%
• 1Y: 45.02%
• 3Y*: -8.85%
• 5Y*: -35.95%
• 10Y*: —

BDRY

• 1D: -0.59%
• 1M: -7.69%
• YTD: 33.41%
• 6M: 33.41%
• 1Y: 104.01%
• 3Y*: 23.84%
• 5Y*: -17.14%
• 10Y*: —

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

MJ vs. BDRY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MJ ETFMG Alternative Harvest ETF	-19.27%	13.07%	-23.97%	-24.18%	-61.55%	-22.79%	-16.18%	-31.36%	-21.45%
BDRY Breakwave Dry Bulk Shipping ETF	33.41%	44.24%	-47.40%	25.79%	-68.84%	282.99%	-50.16%	-15.92%	-27.66%

Correlation

The correlation between MJ and BDRY is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.00
Correlation (All Time) Calculated using the full available price history since Mar 22, 2018	0.02

Return for Risk

MJ vs. BDRY — Risk / Return Rank

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

MJ

MJ Risk / Return Rank: 23
MJ Sharpe Ratio Rank: 18
MJ Sortino Ratio Rank: 32
MJ Omega Ratio Rank: 28
MJ Calmar Ratio Rank: 22
MJ Martin Ratio Rank: 17

BDRY

BDRY Risk / Return Rank: 79
BDRY Sharpe Ratio Rank: 86
BDRY Sortino Ratio Rank: 73
BDRY Omega Ratio Rank: 68
BDRY Calmar Ratio Rank: 90
BDRY Martin Ratio Rank: 78

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.

MJ vs. BDRY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETFMG Alternative Harvest ETF (MJ) 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.

	MJ	BDRY	Difference
Sharpe ratio: Return per unit of total volatility	0.52	2.48	-1.96
Sortino ratio: Return per unit of downside risk	1.57	2.91	-1.34
Omega ratio: Gain probability vs. loss probability	1.18	1.36	-0.18
Calmar ratio: Return relative to maximum drawdown	0.93	4.84	-3.91
Martin ratio: Return relative to average drawdown	1.59	13.57	-11.98

MJ vs. BDRY - Sharpe Ratio Comparison

The current MJ Sharpe Ratio is 0.52, which is lower than the BDRY Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of MJ 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

MJ vs. BDRY - Drawdown Comparison

The maximum MJ drawdown since its inception was -96.55%, which is greater than BDRY's maximum drawdown of -89.16%. Use the drawdown chart below to compare losses from any high point for MJ and BDRY.

Drawdown Indicators

	MJ	BDRY	Difference
Max Drawdown Largest peak-to-trough decline	-96.55%	-89.16%	-7.39%
Max Drawdown (1Y) Largest decline over 1 year	-48.66%	-21.60%	-27.06%
Max Drawdown (3Y) Largest decline over 3 years	-69.73%	-69.71%	-0.02%
Max Drawdown (5Y) Largest decline over 5 years	-92.93%	-89.16%	-3.77%
Current Drawdown Current decline from peak	-94.79%	-71.81%	-22.98%
Average Drawdown Average peak-to-trough decline	-69.35%	-58.44%	-10.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.42%	7.69%	+20.73%

Volatility

MJ vs. BDRY - Volatility Comparison

ETFMG Alternative Harvest ETF (MJ) has a higher volatility of 12.02% compared to Breakwave Dry Bulk Shipping ETF (BDRY) at 7.09%. This indicates that MJ'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

	MJ	BDRY	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.02%	7.09%	+4.93%
Volatility (6M) Calculated over the trailing 6-month period	40.09%	29.15%	+10.94%
Volatility (1Y) Calculated over the trailing 1-year period	86.90%	42.11%	+44.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.95%	60.22%	-0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.64%	62.39%	-6.75%

MJ vs. BDRY - Expense Ratio Comparison

MJ has a 0.75% expense ratio, which is lower than BDRY's 3.76% expense ratio.

Dividends

MJ vs. BDRY - Dividend Comparison

MJ's dividend yield for the trailing twelve months is around 2.46%, while BDRY has not paid dividends to shareholders.

Position	TTM	2025	2024
BDRY Breakwave Dry Bulk Shipping ETF	0.00%	0.00%	0.00%
MJ ETFMG Alternative Harvest ETF	2.46%	1.98%	13.80%

Frequently Asked Questions

Can I hold both MJ and BDRY in my portfolio?

MJ and BDRY have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MJ or BDRY?

MJ has higher volatility (12.02%) compared to BDRY (7.09%). In terms of maximum drawdown, MJ dropped -96.55% vs BDRY's -89.16%.

Which ETF is better, MJ or BDRY?

On 5-year performance, BDRY leads with -17.14% vs -35.95% for MJ. On fees, MJ is cheaper at 0.75% per year. On volatility, BDRY has been the lower-risk option at 7.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MJ or BDRY?

Over the 5-year period, BDRY has performed better with a -17.14% return vs -35.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MJ or BDRY?

MJ is cheaper with a 0.75% expense ratio, compared with 3.76% for BDRY.

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

MJ has the higher dividend yield at 2.46%, compared with 0.00% for BDRY.

What is the main difference between MJ and BDRY?

MJ is categorized as Small Cap Blend Equities, while BDRY is Commodities. MJ tracks Prime Alternative Harvest Index, while BDRY tracks Breakwave Dry Freight Futures Index. Their fees differ too: 0.75% for MJ and 3.76% for BDRY.

Which has better risk-adjusted returns?

BDRY currently has the higher Sharpe Ratio (2.48 vs 0.52), 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.