RW vs. BOAT

Last updated Aug 1, 2026

RW (Rainwater Equity ETF) and BOAT (SonicShares Global Shipping ETF) are both exchange-traded funds - RW is a Global Equities fund actively managed by Alpha Architect, while BOAT is a Industrials Equities fund tracking the Solactive Global Shipping Index. RW is actively managed, while BOAT is passively managed. Over the past year, RW returned -2.39% vs 59.34% for BOAT. Their 0.26 correlation means their historical movements had little consistent relationship. RW charges 1.25%/yr vs 0.69%/yr for BOAT.

Performance

RW vs. BOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rainwater Equity ETF (RW) 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, RW achieves a 1.78% return, which is significantly lower than BOAT's 44.78% return.

RW

• 1D: 0.18%
• 1M: -1.46%
• 6M: 0.34%
• YTD: 1.78%
• 1Y: -2.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 1.19%

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
RW Rainwater Equity ETF	$44.56K	$41.45K	$44.87K

RW vs. BOAT - Yearly Performance Comparison

	2026 (YTD)	2025
RW Rainwater Equity ETF	1.78%	-0.44%
BOAT SonicShares Global Shipping ETF	44.78%	10.17%

Correlation

The correlation between RW and BOAT is 0.29, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.29
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.26

RW vs. BOAT - Sectors Allocation Comparison

Sectors	RW	BOAT
Industrials	48.9%	29.2%
Technology	23.5%	-
Financial Services	10.0%	6.6%
Consumer Cyclical	7.9%	-
Communication Services	3.9%	-
Basic Materials	3.0%	-
Healthcare	2.0%	-
Consumer Defensive	0.2%	-
Utilities	0.2%	-
Real Estate	0.2%	-
Energy	0.1%	10.3%

Return for Risk

RW vs. BOAT — Risk / Return Rank

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

RW

RW Risk / Return Rank: 8
RW Sharpe Ratio Rank: 8
RW Sortino Ratio Rank: 7
RW Omega Ratio Rank: 7
RW Calmar Ratio Rank: 8
RW Martin Ratio Rank: 7

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.

RW vs. BOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rainwater Equity ETF (RW) 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.

	RW	BOAT	Difference
Sharpe ratio: Return per unit of total volatility	-0.22	2.85	-3.07
Sortino ratio: Return per unit of downside risk	-0.21	3.70	-3.91
Omega ratio: Gain probability vs. loss probability	0.98	1.46	-0.48
Calmar ratio: Return relative to maximum drawdown	-0.21	5.08	-5.29
Martin ratio: Return relative to average drawdown	-0.59	14.33	-14.92

RW vs. BOAT - Sharpe Ratio Comparison

The current RW Sharpe Ratio is -0.22, which is lower than the BOAT Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of RW 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

RW vs. BOAT - Drawdown Comparison

The maximum RW drawdown since its inception was -17.04%, smaller than the maximum BOAT drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for RW and BOAT.

Drawdown Indicators

	RW	BOAT	Difference
Max Drawdown Largest peak-to-trough decline	-17.04%	-33.94%	+16.90%
Max Drawdown (1Y) Largest decline over 1 year	-17.02%	-11.60%	-5.42%
Max Drawdown (3Y) Largest decline over 3 years	—	-33.94%	—
Current Drawdown Current decline from peak	-4.34%	-0.74%	-3.60%
Average Drawdown Average peak-to-trough decline	-5.07%	-9.51%	+4.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.01%	4.10%	+1.91%

Volatility

RW vs. BOAT - Volatility Comparison

The current volatility for Rainwater Equity ETF (RW) is 3.96%, while SonicShares Global Shipping ETF (BOAT) has a volatility of 7.09%. This indicates that RW 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

	RW	BOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	7.09%	-3.13%
Volatility (6M) Calculated over the trailing 6-month period	13.22%	16.87%	-3.65%
Volatility (1Y) Calculated over the trailing 1-year period	15.81%	20.73%	-4.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.48%	25.07%	-9.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.48%	25.07%	-9.59%

RW vs. BOAT - Expense Ratio Comparison

RW has a 1.25% expense ratio, which is higher than BOAT's 0.69% expense ratio.

Dividends

RW vs. BOAT - Dividend Comparison

RW's dividend yield for the trailing twelve months is around 0.10%, 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%
RW Rainwater Equity ETF	0.10%	0.10%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RW and BOAT in my portfolio?

RW and BOAT have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RW or BOAT?

BOAT has higher volatility (7.09%) compared to RW (3.96%). In terms of maximum drawdown, RW dropped -17.04% vs BOAT's -33.94%.

Which ETF is better, RW or BOAT?

On 1-year performance, BOAT leads with 59.34% vs -2.39% for RW. On fees, BOAT is cheaper at 0.69% per year. On volatility, RW has been the lower-risk option at 3.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RW or BOAT?

Over the 1-year period, BOAT has performed better with a 59.34% return vs -2.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RW or BOAT?

BOAT is cheaper with a 0.69% expense ratio, compared with 1.25% for RW.

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

BOAT has the higher dividend yield at 6.35%, compared with 0.10% for RW.

What is the main difference between RW and BOAT?

RW is categorized as Global Equities, while BOAT is Industrials Equities. They also come from different issuers: Alpha Architect and Tidal. Their fees differ too: 1.25% for RW and 0.69% for BOAT.

Which has better risk-adjusted returns?

BOAT currently has the higher Sharpe Ratio (2.85 vs -0.22), 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.