The Breakwave Dry Bulk Shipping ETF (BDRY) is part of the ETF Managers Group Commodity Trust I, a Delaware statutory trust formed on July 23, 2014. This trust operates as a series trust and currently consists of two separate series, one of which is the Breakwave Dry Bulk Shipping ETF. BDRY is a commodity pool that continuously issues common shares of beneficial interest tradable on the NYSE Arca, Inc. stock exchange. ETF Managers Capital LLC manages and controls the Fund, registered as a commodity pool operator (CPO) with the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA). Breakwave Advisors LLC, a registered commodity trading advisor (CTA) with the CFTC, serves as the Fund's commodity trading advisor. The Fund's objective is to provide investors with exposure to the daily change in the price of crude oil tanker freight futures, mainly tracking the performance of specified indexes measuring prices for shipping crude oil (Freight Futures).
The ETF Managers Group Commodity Trust I offers the BDRY ETF (BDRY), which is primarily designed to track the daily changes in crude oil tanker freight futures prices. While BDRY's main focus is on its investment objective, it does not distribute dividends in the traditional sense. The ETF's returns are generated through its investment strategy, aiming to provide exposure to the freight futures market, specifically the TD3C and TD20 Freight Futures contracts. Investors should be aware that BDRY's potential returns come from market movements and not from dividend distributions.
Tracking the daily change in the price of crude oil tanker freight futures is the primary objective of the Breakwave Dry Bulk Shipping ETF (BDRY). BDRY accomplishes this by closely following the performance of a portfolio known as the Benchmark Portfolio, which mainly consists of the nearest calendar quarter of futures contracts on specified indexes, measuring prices for shipping crude oil, also known as Freight Futures. These indexes, namely the TD3C Index (Persian Gulf to China) and the TD20 Index (West Africa to Europe), are published by the London-based Baltic Exchange Ltd. BDRY seeks to provide investors with exposure to the freight futures market by investing substantially all of its assets in these Freight Futures, maintaining long positions and adjusting its portfolio as positions mature. The Fund's investment strategy aims to mirror market expectations for the future cost of transporting crude oil, making it an option for investors interested in this niche commodity sector.
The correlation aspect of the Breakwave Dry Bulk Shipping ETF (BDRY) is a key factor in understanding its performance within the shipping industry. As an ETF that tracks the daily change in the price of crude oil tanker freight futures, BDRY's correlation with crude oil prices, shipping routes, and global economic conditions is essential for investors to monitor. Analyzing BDRY's correlations can provide valuable insights into the dynamics of the dry bulk shipping market, helping investors make informed decisions about their portfolios.
The Breakwave Dry Bulk Shipping ETF (BDRY) primarily operates in the shipping and maritime industry sector. BDRY focuses on tracking the performance of crude oil tanker freight futures, specifically the Persian Gulf to China route (TD3C Index) and the West Africa to Europe route (TD20 Index). These Freight Futures are crucial indicators of market expectations for future crude oil transportation costs. BDRY aims to provide investors with exposure to this sector by investing substantially in these Freight Futures, maintaining long positions, and adapting its portfolio to market conditions and regulatory requirements, making it a unique investment option for those interested in the shipping industry.
The Breakwave Dry Bulk Shipping ETF (BDRY) is designed to provide investors with exposure to the daily change in the price of crude oil tanker freight futures, reflecting market expectations for the future cost of transporting crude oil. BDRY primarily tracks the performance of a portfolio consisting of the nearest calendar quarter of futures contracts on specific indexes measuring prices for shipping crude oil, including the TD3C Index (Persian Gulf to China, 270,000mt cargo) and the TD20 Index (West Africa to Europe, 130,000mt cargo). By focusing on freight futures, BDRY offers a unique way for investors to gain exposure to the shipping industry''s dynamics and related market movements.
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