SAFE vs. BDRY
SAFE (Safehold Inc.) is a stock, while BDRY (Breakwave Dry Bulk Shipping ETF) is Commodities fund tracking the Breakwave Dry Freight Futures Index. Over the past 5 years, SAFE returned -25.97%/yr vs -16.41%/yr for BDRY. At a 0.04 correlation, their price movements are largely independent.
Performance
SAFE vs. BDRY - Performance Comparison
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Returns By Period
In the year-to-date period, SAFE achieves a 14.93% return, which is significantly lower than BDRY's 34.21% return.
SAFE
- 1D
- 2.10%
- 1M
- 5.93%
- YTD
- 14.93%
- 6M
- 19.22%
- 1Y
- 4.46%
- 3Y*
- -7.81%
- 5Y*
- -25.97%
- 10Y*
- —
BDRY
- 1D
- 1.64%
- 1M
- -7.14%
- YTD
- 34.21%
- 6M
- 34.67%
- 1Y
- 103.63%
- 3Y*
- 24.09%
- 5Y*
- -16.41%
- 10Y*
- —
SAFE vs. BDRY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SAFE Safehold Inc. | 14.93% | -22.47% | -18.25% | -15.60% | -63.41% | 11.15% | 82.46% | 118.07% | 16.59% |
BDRY Breakwave Dry Bulk Shipping ETF | 34.21% | 44.24% | -47.40% | 25.79% | -68.84% | 282.99% | -50.16% | -15.92% | -27.66% |
Correlation
The correlation between SAFE and BDRY is 0.02, 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 | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2018 | 0.04 |
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Return for Risk
SAFE vs. BDRY — Risk / Return Rank
SAFE
BDRY
SAFE vs. BDRY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Safehold Inc. (SAFE) 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.
| SAFE | BDRY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.34 | ||
| Sortino ratioReturn per unit of downside risk | -2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.36 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.20 | 4.82 | -4.63 |
| Martin ratioReturn relative to average drawdown | 0.43 | 13.59 | -13.16 |
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Drawdowns
SAFE vs. BDRY - Drawdown Comparison
The maximum SAFE drawdown since its inception was -84.70%, smaller than the maximum BDRY drawdown of -89.16%. Use the drawdown chart below to compare losses from any high point for SAFE and BDRY.
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Drawdown Indicators
| SAFE | BDRY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.70% | -89.16% | +4.46% |
Max Drawdown (1Y)Largest decline over 1 year | -22.90% | -21.60% | -1.30% |
Max Drawdown (3Y)Largest decline over 3 years | -51.87% | -69.71% | +17.84% |
Max Drawdown (5Y)Largest decline over 5 years | -84.70% | -89.16% | +4.46% |
Current DrawdownCurrent decline from peak | -80.89% | -71.65% | -9.24% |
Average DrawdownAverage peak-to-trough decline | -40.16% | -58.43% | +18.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.32% | 7.65% | +2.67% |
Volatility
SAFE vs. BDRY - Volatility Comparison
Safehold Inc. (SAFE) has a higher volatility of 9.26% compared to Breakwave Dry Bulk Shipping ETF (BDRY) at 7.30%. This indicates that SAFE'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.
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Volatility by Period
| SAFE | BDRY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.26% | 7.30% | +1.96% |
Volatility (6M)Calculated over the trailing 6-month period | 22.79% | 29.14% | -6.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.04% | 42.10% | -8.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.39% | 60.24% | -19.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.99% | 62.40% | -21.41% |
Dividends
SAFE vs. BDRY - Dividend Comparison
SAFE's dividend yield for the trailing twelve months is around 4.56%, while BDRY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BDRY Breakwave Dry Bulk Shipping ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SAFE Safehold Inc. | 4.56% | 5.17% | 3.83% | 3.03% | 2.45% | 0.84% | 1.10% | 1.15% | 3.19% | 1.78% |
Frequently Asked Questions
SAFE and BDRY have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SAFE has higher volatility (9.26%) compared to BDRY (7.30%). In terms of maximum drawdown, SAFE dropped -84.70% vs BDRY's -89.16%.
BDRY currently has the higher Sharpe Ratio (2.48 vs 0.13), 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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