XRP vs. BDRY
XRP (Bitwise XRP ETF) and BDRY (Breakwave Dry Bulk Shipping ETF) are both exchange-traded funds - XRP is a Cryptocurrency fund actively managed by Bitwise, while BDRY is a Commodities fund tracking the Breakwave Dry Freight Futures Index. XRP is actively managed, while BDRY is passively managed. Their -0.07 correlation means they have often moved in opposite directions in the past. XRP charges 0.34%/yr vs 3.76%/yr for BDRY.
Performance
XRP vs. BDRY - Performance Comparison
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Returns By Period
In the year-to-date period, XRP achieves a -41.13% return, which is significantly lower than BDRY's 58.61% return.
XRP
- 1D
- 0.08%
- 1M
- -0.33%
- 6M
- -33.15%
- YTD
- -41.13%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
BDRY
- 1D
- -0.29%
- 1M
- 13.37%
- 6M
- 31.85%
- YTD
- 58.61%
- 1Y
- 90.29%
- 3Y*
- 41.69%
- 5Y*
- -12.25%
- 10Y*
- —
- ALL TIME*
- -6.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $290.72K | $476.09K | $778.59K | |
| $5.79M | $6.38M | $8.38M |
XRP vs. BDRY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XRP Bitwise XRP ETF | -41.13% | -15.03% |
BDRY Breakwave Dry Bulk Shipping ETF | 58.61% | -1.46% |
Correlation
The correlation between XRP and BDRY is -0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025 | -0.07 |
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Return for Risk
XRP vs. BDRY — Risk / Return Rank
XRP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BDRY
XRP vs. BDRY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise XRP ETF (XRP) 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.
| XRP | BDRY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.34 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 4.20 | — |
| Martin ratioReturn relative to average drawdown | — | 11.44 | — |
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Drawdowns
XRP vs. BDRY - Drawdown Comparison
The maximum XRP drawdown since its inception was -55.49%, smaller than the maximum BDRY drawdown of -89.16%. Use the drawdown chart below to compare losses from any high point for XRP and BDRY.
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Drawdown Indicators
| XRP | BDRY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.49% | -89.16% | +33.67% |
Max Drawdown (1Y)Largest decline over 1 year | — | -21.60% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -69.71% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -89.16% | — |
Current DrawdownCurrent decline from peak | -53.45% | -66.49% | +13.04% |
Average DrawdownAverage peak-to-trough decline | -35.02% | -58.58% | +23.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 7.92% | — |
Volatility
XRP vs. BDRY - Volatility Comparison
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Volatility by Period
| XRP | BDRY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.94% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 28.19% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 71.38% | 39.95% | +31.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.38% | 59.83% | +11.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.38% | 62.12% | +9.26% |
XRP vs. BDRY - Expense Ratio Comparison
XRP has a 0.34% expense ratio, which is lower than BDRY's 3.76% expense ratio.
Dividends
XRP vs. BDRY - Dividend Comparison
Neither XRP nor BDRY has paid dividends to shareholders.
Frequently Asked Questions
XRP and BDRY have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XRP is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XRP is cheaper with a 0.34% expense ratio, compared with 3.76% for BDRY.
XRP and BDRY have nearly identical dividend yields, around 0.00%.
XRP is categorized as Cryptocurrency, while BDRY is Commodities. They also come from different issuers: Bitwise and ETFMG. Their fees differ too: 0.34% for XRP and 3.76% for BDRY.
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