BDRY

Breakwave Dry Bulk Shipping ETF
*Unless otherwise stated, data provided by FactSet.

BDRY Fund Description

BDRY tracks an index of long-only exposure to the nearest calendar quarter of dry bulk freight futures contracts on specified indexes.

BDRY Factset Analytics Insight

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 ship’s 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.

BDRY MSCI ESG Analytics Insight

Breakwave Dry Bulk Shipping ETF has an MSCI ESG Fund Rating of A based on a score of 6.10 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.

The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. Breakwave Dry Bulk Shipping ETF ranks in the 50th percentile within its peer group and in the 51st percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.

PERFORMANCE [as of 07/16/21] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
BDRY -15.66% 20.44% 217.53% 225.13% 1.37% -- --
BDRY (NAV) -16.71% 24.29% 212.36% 206.18% 2.10% -- --
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

BDRY Summary Data

ETFMG
Breakwave
03/22/18
Commodities Pool
3.76%
$81.73M
0.35%
N/A

BDRY Portfolio Data

--
N/A

BDRY Index Data

Breakwave Dry Freight Futures Index
Fixed
Fixed
N/A

BDRY Fund Structure

No
N/A
-- / --
N/A
N/A
Low
N/A
N/A

BDRY Tax Exposures

27.84% / 27.84%
--
Yes

BDRY Factset Analytics Block Liquidity

As of 07/19/21
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of BDRY. BDRY is rated a 5 out of 5.

BDRY Tradability

468,629
$11.92M
458,077
$12.05M
0.35%
$0.09
-0.34%
4.16% / -4.57%
None
100.00%
50,000
9.16
0.04%
--
20
$24.77
5

BDRY MSCI ESG Ratings

6.10 / 10
51.11
49.69
--
--
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