In This Story
Breakwave Dry Bulk Shipping ETF (BDRY) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing details the performance of the Breakwave Dry Bulk Shipping ETF (BDRY) and Breakwave Tanker Shipping ETF (BWET), both of which are managed by Amplify Investments LLC. The ETFs are designed to track the performance of portfolios consisting of futures contracts on shipping rates.
BDRY's investment objective is to provide exposure to the daily change in the price of dry bulk freight futures. The BDRY Benchmark Portfolio includes futures contracts on the Capesize, Panamax, and Supramax indexes published by the Baltic Exchange.
BDRY reported a net loss of $11,489,313 for the three months ended December 31, 2024, primarily due to net realized losses on investments and futures contracts. The net asset value per share decreased by 43.64% during the period.
BWET aims to provide exposure to the daily change in the price of crude oil tanker freight futures. The BWET Benchmark Portfolio includes futures contracts on the TD3C and TD20 indexes.
BWET reported a net loss of $770,451 for the three months ended December 31, 2024, with a decrease in net asset value per share of 33.46%.
The filing notes that geopolitical events, such as the Israel-Hamas conflict, have impacted shipping routes and freight rates, affecting the performance of both ETFs.
Both ETFs are subject to market and credit risks associated with futures contracts, and the Sponsor, Amplify Investments LLC, has measures in place to mitigate these risks.
The filing also outlines the management fees and expense cap agreements in place for both BDRY and BWET, with Breakwave Advisors LLC waiving certain fees to maintain expense caps.
Amplify Commodity Trust, the issuer of the ETFs, is a Delaware statutory trust, and the ETFs are listed on the NYSE Arca exchange.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Breakwave Dry Bulk Shipping ETF quarterly 10-Q report dated February 14, 2025. To report an error, please email earnings@qz.com.