WCME vs. BDRY

Last updated Jun 23, 2026

WCME (First Trust WCM Developing World Equity ETF) and BDRY (Breakwave Dry Bulk Shipping ETF) are both exchange-traded funds - WCME is a Emerging Markets Equities fund tracking the Actively Managed, while BDRY is a Commodities fund tracking the Breakwave Dry Freight Futures Index. Both are passively managed. Over the past year, WCME returned 34.19% vs 102.09% for BDRY. At a correlation of -0.00, they often move in opposite directions. WCME charges 0.95%/yr vs 3.76%/yr for BDRY.

Performance

WCME vs. BDRY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust WCM Developing World Equity ETF (WCME) 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, WCME achieves a 17.58% return, which is significantly lower than BDRY's 32.04% return.

WCME

• 1D: 1.04%
• 1M: 5.83%
• YTD: 17.58%
• 6M: 19.22%
• 1Y: 34.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BDRY

• 1D: 0.09%
• 1M: -8.64%
• YTD: 32.04%
• 6M: 30.41%
• 1Y: 102.09%
• 3Y*: 23.42%
• 5Y*: -16.12%
• 10Y*: —

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

WCME vs. BDRY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WCME First Trust WCM Developing World Equity ETF	17.58%	35.19%	-10.72%
BDRY Breakwave Dry Bulk Shipping ETF	32.04%	44.24%	-40.74%

Correlation

The correlation between WCME and BDRY is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Oct 7, 2024	-0.00

Return for Risk

WCME vs. BDRY — Risk / Return Rank

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

WCME

WCME Risk / Return Rank: 46
WCME Sharpe Ratio Rank: 47
WCME Sortino Ratio Rank: 43
WCME Omega Ratio Rank: 47
WCME Calmar Ratio Rank: 46
WCME Martin Ratio Rank: 46

BDRY

BDRY Risk / Return Rank: 73
BDRY Sharpe Ratio Rank: 80
BDRY Sortino Ratio Rank: 65
BDRY Omega Ratio Rank: 60
BDRY Calmar Ratio Rank: 87
BDRY Martin Ratio Rank: 74

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.

WCME vs. BDRY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust WCM Developing World Equity ETF (WCME) 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.

	WCME	BDRY	Difference
Sharpe ratio: Return per unit of total volatility	1.56	2.44	-0.88
Sortino ratio: Return per unit of downside risk	2.10	2.88	-0.78
Omega ratio: Gain probability vs. loss probability	1.29	1.36	-0.07
Calmar ratio: Return relative to maximum drawdown	2.20	4.75	-2.56
Martin ratio: Return relative to average drawdown	7.51	13.45	-5.94

WCME vs. BDRY - Sharpe Ratio Comparison

The current WCME Sharpe Ratio is 1.56, which is lower than the BDRY Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of WCME 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.

Drawdowns

WCME vs. BDRY - Drawdown Comparison

The maximum WCME drawdown since its inception was -15.64%, smaller than the maximum BDRY drawdown of -89.16%. Use the drawdown chart below to compare losses from any high point for WCME and BDRY.

Drawdown Indicators

	WCME	BDRY	Difference
Max Drawdown Largest peak-to-trough decline	-15.64%	-89.16%	+73.52%
Max Drawdown (1Y) Largest decline over 1 year	-15.64%	-21.60%	+5.96%
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	-0.09%	-72.10%	+72.01%
Average Drawdown Average peak-to-trough decline	-3.70%	-58.42%	+54.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.57%	7.62%	-3.05%

Volatility

WCME vs. BDRY - Volatility Comparison

First Trust WCM Developing World Equity ETF (WCME) has a higher volatility of 10.59% compared to Breakwave Dry Bulk Shipping ETF (BDRY) at 7.86%. This indicates that WCME's price experiences larger fluctuations and is considered to be riskier than BDRY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WCME	BDRY	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.59%	7.86%	+2.73%
Volatility (6M) Calculated over the trailing 6-month period	19.34%	29.21%	-9.87%
Volatility (1Y) Calculated over the trailing 1-year period	22.05%	42.17%	-20.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.68%	60.25%	-39.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.68%	62.41%	-41.73%

WCME vs. BDRY - Expense Ratio Comparison

WCME has a 0.95% expense ratio, which is lower than BDRY's 3.76% expense ratio.

Dividends

WCME vs. BDRY - Dividend Comparison

WCME's dividend yield for the trailing twelve months is around 0.58%, while BDRY has not paid dividends to shareholders.

Position	TTM	2025	2024
BDRY Breakwave Dry Bulk Shipping ETF	0.00%	0.00%	0.00%
WCME First Trust WCM Developing World Equity ETF	0.58%	0.68%	0.53%

Frequently Asked Questions

Can I hold both WCME and BDRY in my portfolio?

WCME and BDRY have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WCME or BDRY?

WCME has higher volatility (10.59%) compared to BDRY (7.86%). In terms of maximum drawdown, WCME dropped -15.64% vs BDRY's -89.16%.

Which ETF is better, WCME or BDRY?

On 1-year performance, BDRY leads with 102.09% vs 34.19% for WCME. On fees, WCME is cheaper at 0.95% per year. On volatility, BDRY has been the lower-risk option at 7.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WCME or BDRY?

Over the 1-year period, BDRY has performed better with a 102.09% return vs 34.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WCME or BDRY?

WCME is cheaper with a 0.95% expense ratio, compared with 3.76% for BDRY.

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

WCME has the higher dividend yield at 0.58%, compared with 0.00% for BDRY.

What is the main difference between WCME and BDRY?

WCME is categorized as Emerging Markets Equities, while BDRY is Commodities. WCME tracks Actively Managed, while BDRY tracks Breakwave Dry Freight Futures Index. They also come from different issuers: First Trust and ETFMG. Their fees differ too: 0.95% for WCME and 3.76% for BDRY.

Which has better risk-adjusted returns?

BDRY currently has the higher Sharpe Ratio (2.44 vs 1.56), 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.