SPRE vs. BOAT

Last updated Jun 3, 2026

SPRE (SP Funds S&P Global REIT Sharia ETF) and BOAT (SonicShares Global Shipping ETF) are both exchange-traded funds - SPRE is a REIT fund tracking the S&P Global All Equity REIT Shariah Capped Index, while BOAT is a Transportation Equities fund tracking the Solactive Global Shipping Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, SPRE returned 6.67%/yr vs 27.92%/yr for BOAT. At a 0.28 correlation, their price movements are largely independent. Both charge a 0.69% expense ratio.

Performance

SPRE vs. BOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SP Funds S&P Global REIT Sharia ETF (SPRE) 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, SPRE achieves a 7.88% return, which is significantly lower than BOAT's 30.82% return.

SPRE

• 1D: 0.73%
• 1M: -1.70%
• YTD: 7.88%
• 6M: 8.62%
• 1Y: 10.66%
• 3Y*: 6.67%
• 5Y*: 1.62%
• 10Y*: —

BOAT

• 1D: 0.17%
• 1M: -1.28%
• YTD: 30.82%
• 6M: 30.98%
• 1Y: 48.88%
• 3Y*: 27.92%
• 5Y*: —
• 10Y*: —

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

SPRE vs. BOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SPRE SP Funds S&P Global REIT Sharia ETF	7.88%	3.07%	2.11%	9.40%	-29.48%	17.24%
BOAT SonicShares Global Shipping ETF	30.82%	22.77%	5.97%	24.53%	6.26%	23.18%

Correlation

The correlation between SPRE and BOAT is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (All Time) Calculated using the full available price history since Aug 5, 2021	0.28

SPRE vs. BOAT - Sectors Allocation Comparison

Sectors	SPRE	BOAT
Real Estate	84.4%	-
Basic Materials	5.0%	-
Utilities	0.4%	-
Financial Services	0.1%	4.7%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	16.1%
Healthcare	-	-
Industrials	-	25.4%
Technology	-	-
Communication Services	-0.0%	-

Return for Risk

SPRE vs. BOAT — Risk / Return Rank

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

SPRE

SPRE Risk / Return Rank: 24
SPRE Sharpe Ratio Rank: 23
SPRE Sortino Ratio Rank: 22
SPRE Omega Ratio Rank: 22
SPRE Calmar Ratio Rank: 24
SPRE Martin Ratio Rank: 27

BOAT

BOAT Risk / Return Rank: 73
BOAT Sharpe Ratio Rank: 76
BOAT Sortino Ratio Rank: 71
BOAT Omega Ratio Rank: 67
BOAT Calmar Ratio Rank: 82
BOAT Martin Ratio Rank: 71

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.

SPRE vs. BOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SP Funds S&P Global REIT Sharia ETF (SPRE) 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.

	SPRE	BOAT	Difference
Sharpe ratio Return per unit of total volatility	0.81	2.49	-1.68
Sortino ratio Return per unit of downside risk	1.19	3.29	-2.10
Omega ratio Gain probability vs. loss probability	1.15	1.41	-0.26
Calmar ratio Return relative to maximum drawdown	1.15	4.35	-3.21
Martin ratio Return relative to average drawdown	3.91	13.55	-9.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPRE vs. BOAT - Sharpe Ratio Comparison

The current SPRE Sharpe Ratio is 0.81, which is lower than the BOAT Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of SPRE 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.

Sharpe Ratios by Period

	SPRE	BOAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.81	2.49	-1.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.94	-0.69

Drawdowns

SPRE vs. BOAT - Drawdown Comparison

The maximum SPRE drawdown since its inception was -38.34%, which is greater than BOAT's maximum drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for SPRE and BOAT.

Drawdown Indicators

	SPRE	BOAT	Difference
Max Drawdown Largest peak-to-trough decline	-38.34%	-33.94%	-4.40%
Max Drawdown (1Y) Largest decline over 1 year	-9.63%	-11.60%	+1.97%
Max Drawdown (3Y) Largest decline over 3 years	-22.04%	-33.94%	+11.90%
Max Drawdown (5Y) Largest decline over 5 years	-38.34%	—	—
Current Drawdown Current decline from peak	-12.42%	-5.92%	-6.50%
Average Drawdown Average peak-to-trough decline	-17.93%	-9.70%	-8.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	3.73%	-0.90%

Volatility

SPRE vs. BOAT - Volatility Comparison

The current volatility for SP Funds S&P Global REIT Sharia ETF (SPRE) is 3.87%, while SonicShares Global Shipping ETF (BOAT) has a volatility of 7.57%. This indicates that SPRE 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

	SPRE	BOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	7.57%	-3.70%
Volatility (6M) Calculated over the trailing 6-month period	9.59%	15.30%	-5.71%
Volatility (1Y) Calculated over the trailing 1-year period	13.22%	19.77%	-6.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.74%	25.12%	-6.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.42%	25.12%	-6.70%

SPRE vs. BOAT - Expense Ratio Comparison

Both SPRE and BOAT have an expense ratio of 0.69%.

Dividends

SPRE vs. BOAT - Dividend Comparison

SPRE's dividend yield for the trailing twelve months is around 3.86%, less than BOAT's 6.26% yield.

Position	TTM	2025	2024	2023	2022	2021
BOAT SonicShares Global Shipping ETF	6.26%	8.08%	13.89%	13.65%	13.57%	1.36%
SPRE SP Funds S&P Global REIT Sharia ETF	3.86%	4.10%	4.13%	4.16%	4.17%	2.83%

Frequently Asked Questions

Can I hold both SPRE and BOAT in my portfolio?

SPRE and BOAT have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPRE or BOAT?

BOAT has higher volatility (7.57%) compared to SPRE (3.87%). In terms of maximum drawdown, SPRE dropped -38.34% vs BOAT's -33.94%.

Which ETF is better, SPRE or BOAT?

On 3-year performance, BOAT leads with 27.92% vs 6.67% for SPRE. Both ETFs have the same 0.69% expense ratio. On volatility, SPRE has been the lower-risk option at 3.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPRE or BOAT?

Over the 3-year period, BOAT has performed better with a 27.92% return vs 6.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPRE or BOAT?

SPRE and BOAT have the same expense ratio: 0.69% per year.

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

BOAT has the higher dividend yield at 6.26%, compared with 3.86% for SPRE.

What is the main difference between SPRE and BOAT?

SPRE is categorized as REIT, while BOAT is Transportation Equities. SPRE tracks S&P Global All Equity REIT Shariah Capped Index, while BOAT tracks Solactive Global Shipping Index - Benchmark TR Net.

Which has better risk-adjusted returns?

BOAT currently has the higher Sharpe Ratio (2.49 vs 0.81), 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.