ETF Evaluator:
Breakwave Dry Bulk Shipping ETF (BDRY)
Follow This ETF
(as of Jul 31)
Best Performing in Miscellaneous Sector Over the Last Year
| 140.4% | Global X Hydrogen ETF (HYDR) |
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| 115.5% | Breakwave Dry Bulk Shipping ETF (BDRY) |
| 113.7% | AdvisorShares Pure US Cannabis ETF (MSOS) |
| 106.5% | iShares Energy Storage & Materials ETF (IBAT) |
Risk
Index
Risk
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ETF Details
Breakwave Dry Bulk Shipping ETF Overview
Breakwave Dry Bulk Shipping ETF (BDRY) is an actively managed Sector Equity Miscellaneous Sector exchange-traded fund (ETF). Amplify ETFs launched the ETF in 2018.
The investment seeks to provide investors with exposure to the daily change in the price of dry bulk freight futures, before expenses and liabilities of the fund, by tracking the performance of a portfolio consisting of a three-month strip of the nearest calendar quarter of futures contracts on specified indexes that measure rates for shipping dry bulk freight.
The fund seeks to achieve its investment objective by investing substantially all of its assets in the Freight Futures currently constituting the Benchmark Portfolio. The Benchmark Portfolio includes a combination of Capesize, Panamax and Supramax Freight Futures.
About Breakwave Dry Bulk Shipping ETF (BDRY)
There are 1 members of the management team with an average tenure of 8.28 years: Management Team (2018). Management tenure is more important for actively managed ETFs than passive index ETFs.
Breakwave Dry Bulk Shipping ETF has 15 securities in its portfolio. The top 10 holdings constitute 155.4% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Breakwave Dry Bulk Shipping ETF is part of the Equity global asset class and is within the Sector Equity ETF group. Breakwave Dry Bulk Shipping ETF has 147.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 147.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Breakwave Dry Bulk Shipping ETF has -125.1% of the portfolio in cash.
Assets Under Management
The fund has $29 million in total assets, which is below the $351 million average for the Miscellaneous Sector category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BDRY Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Breakwave Dry Bulk Shipping ETF expense ratio is high compared to funds in the Miscellaneous Sector category. Breakwave Dry Bulk Shipping ETF has an expense ratio of 3.50%, which is 383% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Breakwave Dry Bulk Shipping ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 45% for the Miscellaneous Sector category.
Recently, in the month of June 2026, Breakwave Dry Bulk Shipping ETF returned -6.5%, which earned it a grade of D, as the Miscellaneous Sector category had an average return of -6.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Breakwave Dry Bulk Shipping ETF has a trailing yield of 0.00%, which is below the 1.02% category average.
The fund normally distributes its income annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Breakwave Dry Bulk Shipping ETF Grades
Year to date, the ETF has returned 38.6%, 24.8 percentage points better than the category, which translates into a grade of A. The fund has returned 115.5% over the past year (grade of A), 30.0% over the past three years (grade of A) and -15.9% per year over the past five years (grade of D).
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BDRY Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BDRY Return (NAV) | -6.5% | 20.1% | 115.5% | 30.0% | -15.9% | na |
| BDRY Return (Price) | -8.3% | 19.1% | 113.9% | 28.8% | -16.6% | na |
| NAV +/- Price Return | 1.813% | 1.088% | 1.595% | 1.116% | 0.626% | na |
| Miscellaneous Sector Avg | -6.8% | 13.7% | 51.8% | 8.1% | -7.9% | 7.0% |
| BDRY Grade (NAV) | D | B | A | A | D | na |
| +/- Category (NAV) | 0.4% | 6.4% | 63.7% | 21.8% | -8.0% | na |
| BDRY Tax-Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | na |
BDRY Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BDRY Return (NAV) | 38.6% | 44.7% | -48.1% | 24.1% | -68.4% | 273.8% | -48.4% | -17.2% | na | na | na |
| BDRY Return (Price) | 35.3% | 44.2% | -47.4% | 25.8% | -68.8% | 283.0% | -50.2% | -15.9% | na | na | na |
| NAV +/- Price Ret | -0.085% | -0.010% | -0.015% | 0.071% | 0.007% | 0.033% | 0.036% | -7.2% | na | na | na |
| Miscellaneous Sector Avg | 13.8% | 30.9% | -12.7% | -3.8% | -34.7% | 9.9% | 62.0% | 25.7% | -13.2% | 27.3% | 0.5% |
| BDRY Grade (NAV) | A | B | F | A | F | A | F | F | na | na | na |
| +/- Category | 24.8% | 13.9% | -35.4% | 27.9% | -33.7% | 263.9% | -110.5% | -42.8% | na | na | na |
| Risk Measures | |
| Beta: | 2.59 |
| R-Squared: | 23% |
| Standard Deviation: | 69.1% |
| Category Risk Index: | 1.78 |
| Category Risk Rating: | High |
| Total Risk Index: | 5.68 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 0.0% |
| Total Assets: | $ 30 Mil |
| Share Class Assets: | $ 30 Mil |
| Turnover: | na |
| Expense Ratio: | 3.50% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 8.3 years | |||
| Average Tenure: 8.3 years | |||
| Managers (Year): Team Management (2018) | |||
Portfolio Composition (as of 6/29/26)
| # of Holdings: | 15 |
| % in Top 10 Holdings: | 155.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 147.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 147.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 77.7% |
| Cash: | -125.1% |
Purchase Information
| Legal Structure: | Partnership (3C1) |
| Fund Family: | Amplify ETFs |
| Phone Number: | 855-267-3837 |
| Website: | |
| Inception Date: | March 21, 2018 |
Expenses and Fees
| Expense Ratio (%): | 3.50% (Rating: High) |
| Category Average Expense Ratio (%): | 0.73% |
