The Breakwave Dry Bulk Shipping exchange-traded fund has been battling to get new cash in the past three months while assets continued to fall, Bloomberg reported.
Breakwave Dry Bulk Shipping ETF has not seen inflows since early July. Its total assets have also fallen by $29 million to $92 million versus the peak of $121 million recorded in May.
Reluctance is attributed to the surge already seen earlier in the year, with the year-to-date gains at 267% so far this year. The fund also has a 1.85% fee.
The decline comes even as economic activity has shown signs of recovery across the globe, but the COVID-19 pandemic continues to cause supply bottlenecks with the world’s third-busiest port shutdown this week.
BDRY is down 0.55%.