BOAT
SonicShares Global Shipping ETF
BOAT tracks a modified market-cap-weighted index of globally-listed companies engaged in maritime shipping.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
42.1 M
ASSETS UNDER MGMT
69 bp
EXPENSES
Fund Basics
| Fund sponsor | Toroso Investments |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 03, 2021 |
| Assets (mns) | $42 |
| Expense ratio | 69 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| MITSUI OSK LINES LTD | 6.1 % |
| MATSON INC | 6.0 % |
| HYUNDAI MERCHANT MARINE | 5.9 % |
| SITC INTERNATIONAL HOLDINGS | 5.8 % |
| A.P. MOLLER - MAERSK A/S CLASS B | 5.6 % |
| KAWASAKI KISEN KAISHA LTD | 5.0 % |
| CHINA COSCO HOLDINGS-H | 4.7 % |
| WILH. WILHELMSEN ASA | 4.6 % |
| ORIENT OVERSEAS INTL LTD | 4.5 % |
| STAR BULK CARRIERS CORP | 3.8 % |
Constituent Breakdown
| Number of holdings | 43 |
| Herfindahl-Hirschman Index | 367 |
| Wgt avg mkt cap (mns) | $7,257 |
| Large cap (>$10bn) | 24.6% |
| Mid cap ($2-10bn) | 45.4% |
| Small cap (<$2bn) | 28.6% |
| Developed mkts. | 80.2% |
| Emerging mkts. | 19.8% |
Country Exposure
 |
UNITED STATES | 14.8 % |
 |
JAPAN | 11.7 % |
 |
BERMUDA | 11.7 % |
 |
HONG KONG | 11.6 % |
 |
NORWAY | 7.6 % |
 |
SOUTH KOREA | 7.6 % |
 |
GREECE | 6.1 % |
 |
CHINA | 5.8 % |
 |
DENMARK | 5.6 % |
 |
MONACO | 4.7 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 12.5% | 23.8% | 26.2% | -- | -- | -- | 18.5% | Volatility | 23.3% | 24.2% | 22.6% | 25.9% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.90 | 27% |
| MSCI EAFE | 1.05 | 37% |
| MSCI Emg Mkts | 0.74 | 18% |
Liquidity Measures
| Avg. volume (000) | 13 |
| Turnover | 1.0% |
| Avg. Bid/Ask (% of price) | 0.59% |
| ADV of underlying (mns) | $1,124 |
Technical Indicators
| Recent close | $32.36 |
| 30d moving avg. | $33.90 |
| Annualized volatility | 30.3% |
| Relative strength (RSI) | 45 |
| Short interest (ETF) | 0.5% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. BOAT |
Expenses vs. BOAT |
ALTAR Score™ vs. BOAT |
|---|---|---|---|---|
| SEA | U.S. Global Sea to Sky Cargo ETF | 30.8% | -9 bp | -13.4% |
Risk and Returns: BOAT vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/15/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
BOAT
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
BOAT
35.3%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 375 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
4.6%. BOAT's ALTAR Score™ is approximately
6.7 standard deviations
above
the category average. This places BOAT in the 99th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
BOATSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 191 |
| Avg. Expense Ratio | 55.4 bp |
| Std. Deviation | 17.5 bp |
| BOAT (69 bp) Percentile rank | 78 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| BOAT | 69.0 | 58.7 | 127.7 |
| Peer Avg. | 57.2 | 40.4 | 97.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .