USDX vs. BDRY

Last updated Jun 6, 2026

USDX (SGI Enhanced Core ETF) and BDRY (Breakwave Dry Bulk Shipping ETF) are both exchange-traded funds - USDX is a Intermediate Core Bond fund actively managed by Summit Global Investments, while BDRY is a Commodities fund tracking the Breakwave Dry Freight Futures Index. USDX is actively managed, while BDRY is passively managed. Over the past year, USDX returned 6.55% vs 131.33% for BDRY. At a correlation of -0.05, they often move in opposite directions. USDX charges 0.98%/yr vs 3.76%/yr for BDRY.

Performance

USDX vs. BDRY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SGI Enhanced Core ETF (USDX) and Breakwave Dry Bulk Shipping ETF (BDRY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USDX achieves a 2.30% return, which is significantly lower than BDRY's 44.81% return.

USDX

• 1D: 0.51%
• 1M: 0.62%
• YTD: 2.30%
• 6M: 2.72%
• 1Y: 6.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BDRY

• 1D: 0.32%
• 1M: 4.87%
• YTD: 44.81%
• 6M: 41.11%
• 1Y: 131.33%
• 3Y*: 24.70%
• 5Y*: -11.58%
• 10Y*: —

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

USDX vs. BDRY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
USDX SGI Enhanced Core ETF	2.30%	6.25%	6.87%
BDRY Breakwave Dry Bulk Shipping ETF	44.81%	44.24%	-60.13%

Correlation

The correlation between USDX and BDRY is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.17
Correlation (All Time) Calculated using the full available price history since Mar 1, 2024	-0.05

The correlation between USDX and BDRY shifts across timeframes, from -0.17 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.

USDX vs. BDRY - Sectors Allocation Comparison

Sectors	USDX	BDRY
Financial Services	84.7%	3.1%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

USDX vs. BDRY — Risk / Return Rank

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

USDX

USDX Risk / Return Rank: 95
USDX Sharpe Ratio Rank: 93
USDX Sortino Ratio Rank: 96
USDX Omega Ratio Rank: 97
USDX Calmar Ratio Rank: 94
USDX Martin Ratio Rank: 97

BDRY

BDRY Risk / Return Rank: 85
BDRY Sharpe Ratio Rank: 92
BDRY Sortino Ratio Rank: 79
BDRY Omega Ratio Rank: 75
BDRY Calmar Ratio Rank: 92
BDRY Martin Ratio Rank: 86

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.

USDX vs. BDRY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SGI Enhanced Core ETF (USDX) 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.

	USDX	BDRY	Difference
Sharpe ratio: Return per unit of total volatility	3.31	3.14	+0.17
Sortino ratio: Return per unit of downside risk	5.27	3.40	+1.87
Omega ratio: Gain probability vs. loss probability	1.84	1.43	+0.42
Calmar ratio: Return relative to maximum drawdown	7.02	6.12	+0.90
Martin ratio: Return relative to average drawdown	48.14	17.79	+30.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USDX vs. BDRY - Sharpe Ratio Comparison

The current USDX Sharpe Ratio is 3.31, which is comparable to the BDRY Sharpe Ratio of 3.14. The chart below compares the historical Sharpe Ratios of USDX and BDRY, 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

	USDX	BDRY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.31	3.14	+0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.19	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.02	-0.13	+4.15

Drawdowns

USDX vs. BDRY - Drawdown Comparison

The maximum USDX drawdown since its inception was -0.94%, smaller than the maximum BDRY drawdown of -89.16%. Use the drawdown chart below to compare losses from any high point for USDX and BDRY.

Drawdown Indicators

	USDX	BDRY	Difference
Max Drawdown Largest peak-to-trough decline	-0.94%	-89.16%	+88.22%
Max Drawdown (1Y) Largest decline over 1 year	-0.94%	-21.60%	+20.66%
Max Drawdown (3Y) Largest decline over 3 years	—	-69.71%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-89.16%	—
Current Drawdown Current decline from peak	-0.14%	-69.40%	+69.26%
Average Drawdown Average peak-to-trough decline	-0.06%	-58.39%	+58.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.14%	7.41%	-7.27%

Volatility

USDX vs. BDRY - Volatility Comparison

The current volatility for SGI Enhanced Core ETF (USDX) is 1.09%, while Breakwave Dry Bulk Shipping ETF (BDRY) has a volatility of 10.81%. This indicates that USDX 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.

Volatility by Period

	USDX	BDRY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.09%	10.81%	-9.72%
Volatility (6M) Calculated over the trailing 6-month period	1.80%	29.99%	-28.19%
Volatility (1Y) Calculated over the trailing 1-year period	1.99%	42.09%	-40.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.71%	60.66%	-58.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.71%	62.55%	-60.84%

USDX vs. BDRY - Expense Ratio Comparison

USDX has a 0.98% expense ratio, which is lower than BDRY's 3.76% expense ratio.

Dividends

USDX vs. BDRY - Dividend Comparison

USDX's dividend yield for the trailing twelve months is around 5.88%, while BDRY has not paid dividends to shareholders.

Position	TTM	2025	2024
BDRY Breakwave Dry Bulk Shipping ETF	0.00%	0.00%	0.00%
USDX SGI Enhanced Core ETF	5.88%	5.88%	4.60%

Frequently Asked Questions

Can I hold both USDX and BDRY in my portfolio?

USDX and BDRY have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USDX or BDRY?

BDRY has higher volatility (10.81%) compared to USDX (1.09%). In terms of maximum drawdown, USDX dropped -0.94% vs BDRY's -89.16%.

Which ETF is better, USDX or BDRY?

On 1-year performance, BDRY leads with 131.33% vs 6.55% for USDX. On fees, USDX is cheaper at 0.98% per year. On volatility, USDX has been the lower-risk option at 1.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USDX or BDRY?

Over the 1-year period, BDRY has performed better with a 131.33% return vs 6.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USDX or BDRY?

USDX is cheaper with a 0.98% expense ratio, compared with 3.76% for BDRY.

Which ETF pays a higher dividend yield, USDX or BDRY?

USDX has the higher dividend yield at 5.88%, compared with 0.00% for BDRY.

What is the main difference between USDX and BDRY?

USDX is categorized as Intermediate Core Bond, while BDRY is Commodities. They also come from different issuers: Summit Global Investments and ETFMG. Their fees differ too: 0.98% for USDX and 3.76% for BDRY.

Which has better risk-adjusted returns?

USDX currently has the higher Sharpe Ratio (3.31 vs 3.14), 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.