SEA vs. BOAT

Last updated Apr 1, 2026

Compare and contrast key facts about U.S. Global Sea to Sky Cargo ETF (SEA) and SonicShares Global Shipping ETF (BOAT).

SEA and BOAT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SEA is a passively managed fund by US Global that tracks the performance of the U.S. Global Sea to Sky Cargo Index - Benchmark TR Gross. It was launched on Jan 19, 2022. BOAT is a passively managed fund by Toroso Investments that tracks the performance of the Solactive Global Shipping Index - Benchmark TR Net. It was launched on Aug 3, 2021. Both SEA and BOAT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SEA vs. BOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in U.S. Global Sea to Sky Cargo ETF (SEA) and SonicShares Global Shipping ETF (BOAT). The values are adjusted to include any dividend payments, if applicable.

SEA vs. BOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SEA U.S. Global Sea to Sky Cargo ETF	19.09%	16.78%	2.52%	19.33%	-17.28%
BOAT SonicShares Global Shipping ETF	29.88%	22.77%	5.97%	24.53%	6.71%

Returns By Period

In the year-to-date period, SEA achieves a 19.09% return, which is significantly lower than BOAT's 29.88% return.

SEA

• 1D: 2.77%
• 1M: -0.20%
• YTD: 19.09%
• 6M: 27.29%
• 1Y: 44.88%
• 3Y*: 16.19%
• 5Y*: —
• 10Y*: —

BOAT

• 1D: 2.65%
• 1M: -2.18%
• YTD: 29.88%
• 6M: 35.58%
• 1Y: 66.85%
• 3Y*: 23.86%
• 5Y*: —
• 10Y*: —

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

SEA vs. BOAT - Expense Ratio Comparison

SEA has a 0.60% expense ratio, which is lower than BOAT's 0.69% expense ratio.

BOAT

SonicShares Global Shipping ETF

SEA

U.S. Global Sea to Sky Cargo ETF

Return for Risk

SEA vs. BOAT — Risk / Return Rank

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

SEA

SEA Risk / Return Rank: 92
SEA Sharpe Ratio Rank: 93
SEA Sortino Ratio Rank: 94
SEA Omega Ratio Rank: 93
SEA Calmar Ratio Rank: 88
SEA Martin Ratio Rank: 93

BOAT

BOAT Risk / Return Rank: 96
BOAT Sharpe Ratio Rank: 97
BOAT Sortino Ratio Rank: 97
BOAT Omega Ratio Rank: 96
BOAT Calmar Ratio Rank: 96
BOAT Martin Ratio Rank: 96

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.

SEA vs. BOAT - 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 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.

	SEA	BOAT	Difference
Sharpe ratio Return per unit of total volatility	2.16	2.73	-0.58
Sortino ratio Return per unit of downside risk	2.86	3.40	-0.54
Omega ratio Gain probability vs. loss probability	1.41	1.49	-0.07
Calmar ratio Return relative to maximum drawdown	2.76	4.17	-1.40
Martin ratio Return relative to average drawdown	13.29	16.10	-2.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SEA vs. BOAT - Sharpe Ratio Comparison

The current SEA Sharpe Ratio is 2.16, which is comparable to the BOAT Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of SEA and BOAT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SEA	BOAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	2.73	-0.58
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.97	-0.58

Correlation

The correlation between SEA and BOAT is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SEA vs. BOAT - Dividend Comparison

SEA's dividend yield for the trailing twelve months is around 5.67%, less than BOAT's 6.31% yield.

	TTM	2025	2024	2023	2022	2021
SEA U.S. Global Sea to Sky Cargo ETF	5.67%	6.76%	18.47%	9.85%	18.73%	0.00%
BOAT SonicShares Global Shipping ETF	6.31%	8.08%	13.89%	13.65%	13.57%	1.36%

Drawdowns

SEA vs. BOAT - Drawdown Comparison

The maximum SEA drawdown since its inception was -39.53%, which is greater than BOAT's maximum drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for SEA and BOAT.

Drawdown Indicators

	SEA	BOAT	Difference
Max Drawdown Largest peak-to-trough decline	-39.53%	-33.94%	-5.59%
Max Drawdown (1Y) Largest decline over 1 year	-16.06%	-15.62%	-0.44%
Current Drawdown Current decline from peak	-2.48%	-4.37%	+1.89%
Average Drawdown Average peak-to-trough decline	-14.84%	-9.94%	-4.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	4.04%	-0.70%

Volatility

SEA vs. BOAT - Volatility Comparison

The current volatility for U.S. Global Sea to Sky Cargo ETF (SEA) is 6.68%, while SonicShares Global Shipping ETF (BOAT) has a volatility of 8.91%. This indicates that SEA 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

	SEA	BOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.68%	8.91%	-2.23%
Volatility (6M) Calculated over the trailing 6-month period	12.51%	14.42%	-1.91%
Volatility (1Y) Calculated over the trailing 1-year period	20.91%	24.61%	-3.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.87%	25.25%	-3.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.87%	25.25%	-3.38%