Breakwave Dry Bulk Shipping ETF

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Key stats

Assets under management (AUM)
‪52.89 M‬USD
Fund flows (1Y)
‪−45.18 M‬USD
Dividend yield (indicated)
Discount/Premium to NAV
−2.3%

About Breakwave Dry Bulk Shipping ETF

Issuer
Exchange Traded Managers Group LLC
Brand
Breakwave
Expense ratio
3.50%
Inception date
Mar 22, 2018
Index tracked
Breakwave Dry Freight Futures Index
Management style
Passive
ISIN
US26923H2004
BDRY is the first ETP to provide exposure to freight futures. Dry bulk shipping is an instrumental part of the global commodity market, and uncorrelated with other major asset classes historically. Dry bulk carrier transport unpackaged dry cargo, such as iron ore, coal, and grain - distinct from tankers and containerized cargo ships. BDRY provides exposure to the charter rate for dry bulk shipping by holding near-dated freight futures contracts on three dry bulk indices. The portfolio uses a fixed weighting scheme, rebalanced annually, based on the cargo ships size category - Capesize freight futures contracts get 50% weight, Panamax contracts 40%, and Supramax contracts 10%. As futures are always an imperfect proxy for spot prices, and the freight futures market is often in contango, long-term holdings are subject to position decay. BDRY is structured as a commodities pool, so expect a K-1 at tax time and long-term holders will be taxed on any gains even without selling shares.

Classification

Asset Class
Commodities
Category
Broad market
Focus
Broad market
Niche
Laddered
Strategy
Laddered
Weighting scheme
Fixed
Selection criteria
Fixed
What's in the fund
Exposure type
Bonds, Cash & Other
Cash
Mutual fund
Bonds, Cash & Other100.00%
Cash72.69%
Mutual fund27.31%

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Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy