USRD vs. BDGS

Last updated Jun 24, 2026

USRD (Themes US R&D Champions ETF) and BDGS (Bridges Capital Tactical ETF) are both Large Cap Blend Equities funds. USRD is passively managed, while BDGS is actively managed. Over the past year, USRD returned 19.51% vs 11.63% for BDGS. A 0.71 correlation means they provide meaningful diversification when combined. USRD charges 0.29%/yr vs 0.87%/yr for BDGS.

Performance

USRD vs. BDGS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes US R&D Champions ETF (USRD) and Bridges Capital Tactical ETF (BDGS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USRD achieves a 10.76% return, which is significantly higher than BDGS's 4.21% return.

USRD

• 1D: -1.60%
• 1M: -2.04%
• YTD: 10.76%
• 6M: 9.67%
• 1Y: 19.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BDGS

• 1D: -0.33%
• 1M: -1.13%
• YTD: 4.21%
• 6M: 3.97%
• 1Y: 11.63%
• 3Y*: 13.42%
• 5Y*: —
• 10Y*: —

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

USRD vs. BDGS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
USRD Themes US R&D Champions ETF	10.76%	12.44%	15.53%	5.32%
BDGS Bridges Capital Tactical ETF	4.21%	10.61%	19.07%	0.62%

Correlation

The correlation between USRD and BDGS is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (All Time) Calculated using the full available price history since Dec 13, 2023	0.71

The correlation between USRD and BDGS has been stable across timeframes, ranging from 0.71 to 0.73 - a consistent structural relationship.

USRD vs. BDGS - Sectors Allocation Comparison

Sectors	USRD	BDGS
Technology	64.5%	37.4%
Healthcare	14.3%	7.5%
Consumer Cyclical	7.3%	10.9%
Communication Services	7.0%	16.6%
Industrials	3.6%	6.6%
Consumer Defensive	1.9%	4.1%
Basic Materials	1.7%	1.5%
Real Estate	1.7%	1.5%
Energy	-	2.6%
Financial Services	-	9.3%
Utilities	-	1.9%

Return for Risk

USRD vs. BDGS — Risk / Return Rank

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

USRD

USRD Risk / Return Rank: 32
USRD Sharpe Ratio Rank: 33
USRD Sortino Ratio Rank: 31
USRD Omega Ratio Rank: 31
USRD Calmar Ratio Rank: 31
USRD Martin Ratio Rank: 32

BDGS

BDGS Risk / Return Rank: 62
BDGS Sharpe Ratio Rank: 56
BDGS Sortino Ratio Rank: 61
BDGS Omega Ratio Rank: 64
BDGS Calmar Ratio Rank: 61
BDGS 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.

USRD vs. BDGS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes US R&D Champions ETF (USRD) and Bridges Capital Tactical ETF (BDGS). 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.

	USRD	BDGS	Difference
Sharpe ratio: Return per unit of total volatility	1.10	1.84	-0.74
Sortino ratio: Return per unit of downside risk	1.58	2.75	-1.17
Omega ratio: Gain probability vs. loss probability	1.20	1.37	-0.17
Calmar ratio: Return relative to maximum drawdown	1.45	2.90	-1.44
Martin ratio: Return relative to average drawdown	4.25	12.72	-8.47

USRD vs. BDGS - Sharpe Ratio Comparison

The current USRD Sharpe Ratio is 1.10, which is lower than the BDGS Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of USRD and BDGS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

USRD vs. BDGS - Drawdown Comparison

The maximum USRD drawdown since its inception was -23.79%, which is greater than BDGS's maximum drawdown of -9.12%. Use the drawdown chart below to compare losses from any high point for USRD and BDGS.

Drawdown Indicators

	USRD	BDGS	Difference
Max Drawdown Largest peak-to-trough decline	-23.79%	-9.12%	-14.67%
Max Drawdown (1Y) Largest decline over 1 year	-13.49%	-4.03%	-9.46%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.12%	—
Current Drawdown Current decline from peak	-8.69%	-2.17%	-6.52%
Average Drawdown Average peak-to-trough decline	-3.75%	-0.66%	-3.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.60%	0.92%	+3.68%

Volatility

USRD vs. BDGS - Volatility Comparison

Themes US R&D Champions ETF (USRD) has a higher volatility of 8.56% compared to Bridges Capital Tactical ETF (BDGS) at 2.30%. This indicates that USRD's price experiences larger fluctuations and is considered to be riskier than BDGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USRD	BDGS	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.56%	2.30%	+6.26%
Volatility (6M) Calculated over the trailing 6-month period	14.73%	5.17%	+9.56%
Volatility (1Y) Calculated over the trailing 1-year period	17.86%	6.38%	+11.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.52%	8.22%	+11.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.52%	8.22%	+11.30%

USRD vs. BDGS - Expense Ratio Comparison

USRD has a 0.29% expense ratio, which is lower than BDGS's 0.87% expense ratio.

Dividends

USRD vs. BDGS - Dividend Comparison

USRD's dividend yield for the trailing twelve months is around 0.38%, less than BDGS's 0.53% yield.

Position	TTM	2025	2024	2023
BDGS Bridges Capital Tactical ETF	0.53%	0.55%	1.81%	0.84%
USRD Themes US R&D Champions ETF	0.38%	0.42%	2.44%	0.00%

Frequently Asked Questions

Can I hold both USRD and BDGS in my portfolio?

USRD and BDGS have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USRD or BDGS?

USRD has higher volatility (8.56%) compared to BDGS (2.30%). In terms of maximum drawdown, USRD dropped -23.79% vs BDGS's -9.12%.

Which ETF is better, USRD or BDGS?

On 1-year performance, USRD leads with 19.51% vs 11.63% for BDGS. On fees, USRD is cheaper at 0.29% per year. On volatility, BDGS has been the lower-risk option at 2.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USRD or BDGS?

Over the 1-year period, USRD has performed better with a 19.51% return vs 11.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USRD or BDGS?

USRD is cheaper with a 0.29% expense ratio, compared with 0.87% for BDGS.

Which ETF pays a higher dividend yield, USRD or BDGS?

BDGS has the higher dividend yield at 0.53%, compared with 0.38% for USRD.

What is the main difference between USRD and BDGS?

They also come from different issuers: Themes and Bridges. Their fees differ too: 0.29% for USRD and 0.87% for BDGS.

Which has better risk-adjusted returns?

BDGS currently has the higher Sharpe Ratio (1.84 vs 1.10), 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.