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Carbon Bubble

Shipping ETF Up 275% Gets a Sibling Looking to Clean Up Its Mess

ETFMG is launching a ‘sea decarbonization’ tech fund;  Breakwave Advisors is helping manage the underlying index.

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Photographer: Victor J. Blue/Bloomberg

One of the best-performing exchange-traded funds in the U.S. this year is getting a younger sibling that wants to clean up after it.

The Breakwave Dry Bulk Shipping ETF (ticker BDRY) is being joined by the Breakwave Sea Decarbonization Tech ETF (BSEA), according to ETF Managers Group. The new product, launching Tuesday, will invest in global companies that develop technologies to reduce maritime carbon emissions.