SEA vs. BDRY
SEA (U.S. Global Sea to Sky Cargo ETF) and BDRY (Breakwave Dry Bulk Shipping ETF) are both exchange-traded funds - SEA is a Industrials Equities fund tracking the U.S. Global Sea to Sky Cargo Index - Benchmark TR Gross, while BDRY is a Commodities fund tracking the Breakwave Dry Freight Futures Index. Both are passively managed. Over the past 3 years, SEA returned 18.39%/yr vs 39.44%/yr for BDRY. Their 0.09 correlation means their historical movements had little consistent relationship. SEA charges 0.60%/yr vs 3.76%/yr for BDRY.
Performance
SEA vs. BDRY - Performance Comparison
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Returns By Period
In the year-to-date period, SEA achieves a 30.54% return, which is significantly lower than BDRY's 53.02% return.
SEA
- 1D
- -0.03%
- 1M
- 10.88%
- 6M
- 20.96%
- YTD
- 30.54%
- 1Y
- 39.67%
- 3Y*
- 18.39%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 9.73%
BDRY
- 1D
- 0.45%
- 1M
- 9.37%
- 6M
- 16.39%
- YTD
- 53.02%
- 1Y
- 79.89%
- 3Y*
- 39.44%
- 5Y*
- -12.25%
- 10Y*
- —
- ALL TIME*
- -7.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $397.41K | $463.93K | $806.29K | |
| $126.54K | $400.87K | $241.46K |
SEA vs. BDRY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SEA U.S. Global Sea to Sky Cargo ETF | 30.54% | 16.78% | 2.52% | 19.33% | -18.36% |
BDRY Breakwave Dry Bulk Shipping ETF | 53.02% | 44.24% | -47.40% | 25.79% | -53.84% |
Correlation
The correlation between SEA and BDRY is 0.03, 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. | 0.03 |
Correlation (3Y) Balances recent behavior with more history. | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2022 | 0.09 |
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Return for Risk
SEA vs. BDRY — Risk / Return Rank
SEA
BDRY
SEA vs. BDRY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for U.S. Global Sea to Sky Cargo ETF (SEA) 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.
| SEA | BDRY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.31 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.75 | 3.79 | -0.04 |
| Martin ratioReturn relative to average drawdown | 13.91 | 10.30 | +3.61 |
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Drawdowns
SEA vs. BDRY - Drawdown Comparison
The maximum SEA drawdown since its inception was -39.53%, smaller than the maximum BDRY drawdown of -89.16%. Use the drawdown chart below to compare losses from any high point for SEA and BDRY.
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Drawdown Indicators
| SEA | BDRY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.53% | -89.16% | +49.63% |
Max Drawdown (1Y)Largest decline over 1 year | -10.67% | -21.60% | +10.93% |
Max Drawdown (3Y)Largest decline over 3 years | -32.42% | -69.71% | +37.29% |
Max Drawdown (5Y)Largest decline over 5 years | — | -89.16% | — |
Current DrawdownCurrent decline from peak | -0.03% | -67.67% | +67.64% |
Average DrawdownAverage peak-to-trough decline | -13.90% | -58.58% | +44.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.87% | 7.92% | -5.05% |
Volatility
SEA vs. BDRY - Volatility Comparison
The current volatility for U.S. Global Sea to Sky Cargo ETF (SEA) is 4.58%, while Breakwave Dry Bulk Shipping ETF (BDRY) has a volatility of 10.70%. This indicates that SEA 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
| SEA | BDRY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.58% | 10.70% | -6.12% |
Volatility (6M)Calculated over the trailing 6-month period | 13.15% | 28.10% | -14.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.95% | 40.11% | -23.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.55% | 59.80% | -38.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.55% | 62.13% | -40.58% |
SEA vs. BDRY - Expense Ratio Comparison
SEA has a 0.60% expense ratio, which is lower than BDRY's 3.76% expense ratio.
Dividends
SEA vs. BDRY - Dividend Comparison
SEA's dividend yield for the trailing twelve months is around 5.18%, while BDRY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BDRY Breakwave Dry Bulk Shipping ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SEA U.S. Global Sea to Sky Cargo ETF | 5.18% | 6.76% | 18.47% | 9.85% | 18.73% |
Frequently Asked Questions
SEA and BDRY have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDRY has higher volatility (10.70%) compared to SEA (4.58%). In terms of maximum drawdown, SEA dropped -39.53% vs BDRY's -89.16%.
On 3-year performance, BDRY leads with 39.44% vs 18.39% for SEA. On fees, SEA is cheaper at 0.60% per year. On volatility, SEA has been the lower-risk option at 4.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BDRY has performed better with a 39.44% return vs 18.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SEA is cheaper with a 0.60% expense ratio, compared with 3.76% for BDRY.
SEA has the higher dividend yield at 5.18%, compared with 0.00% for BDRY.
SEA is categorized as Industrials Equities, while BDRY is Commodities. SEA tracks U.S. Global Sea to Sky Cargo Index - Benchmark TR Gross, while BDRY tracks Breakwave Dry Freight Futures Index. They also come from different issuers: US Global and ETFMG. Their fees differ too: 0.60% for SEA and 3.76% for BDRY.
SEA currently has the higher Sharpe Ratio (2.36 vs 2.06), 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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