Owns companies worldwide that move cargo: marine shippers, air freight and courier firms, and port operators, in developed and emerging markets.
SEA, the U.S. Global Sea to Sky Cargo ETF, is a $18 million ETF whose main story is geopolitical supply. Over the past year it returned +56.1%, against +16.8% for broad US ETFs. Figures to October 2, 2026; past performance, not a recommendation.
The narrative it carries
Its main narrative, at 0.7 of its exposure.
Geopolitical supply →
Oil and the companies that produce, move and refine it, priced partly on the risk that supply is cut off.
The band is where this narrative’s level sits among the 22 this week. QUIET means less talked about, not falling.
| # | ETF | SHARE | ASSETS | 1 YEAR | COST |
|---|---|---|---|---|---|
| 1 | XLE | 37.4% | $39.13bn | +46.1% | 0.08% |
| 2 | AMLP | 12.1% | $12.62bn | +22.2% | 1.01% |
| 3 | VDE | 9.6% | $10.01bn | +44.9% | 0.09% |
| 4 | GUNR | 6.5% | $6.84bn | +24.8% | – |
| 5 | GNR | 4.8% | $5.07bn | +29.1% | – |
| 83 other ETFs | 29.6% |
Share is each ETF’s slice of the capital carrying this narrative. 1 year is market price total return; cost is the expense ratio. See all 88 ETFs on the narrative page →
Also carries: The reshoring trade →
Infrastructure, critical metals and materials: what it takes to make more things at home.
FRI OCT 2MARKET PRICE TOTAL RETURN
| 1M | 3M | YTD | 1Y | 3Y* | 5Y* | |
|---|---|---|---|---|---|---|
| SEA | +5.8% | +23.7% | +45.7% | +56.1% | +24.6% | – |
| Geopolitical supplyits narrative | −4.2% | +13.8% | +36.3% | +39.7% | +16.9% | +20.3% |
| The marketbroad US ETFs | +0.8% | +2.6% | +14.6% | +16.8% | +22.9% | +12.9% |
1M, 3M, 1Y, 3Y, 5Y: one month to five years. YTD: year to date. * A year, annualised. A dash means the ETF has not traded for the whole period. Since it started trading on January 20, 2022: +11.8% a year.
$10,000 invested January 31, 2022
Year by year
Total return in each calendar year; this year is year to date. A year appears only if SEA traded for all of it.
Total return on the market price, with each distribution reinvested on its ex-date. Not the NAV return the issuer publishes; the two differ when the ETF trades above or below the value of its holdings. The narrative is the asset-weighted return of the unlevered ETFs that carry it. The market is the asset-weighted return of broad US index ETFs. Past performance is no guarantee of future results.
FRI OCT 2MARKET PRICE TOTAL RETURN
How closely it moves
SEA moves partly with the market. When the market has moved 1%, SEA has tended to move 0.62%.
SEA moves partly with geopolitical supply. When geopolitical supply has moved 1%, SEA has tended to move 0.46%.
Weekly returns over 157 weeks. The narrative is measured without SEA in it, so it is not compared with itself.
ETFs it moves most and least like
Correlation of weekly returns over the last 3 years, among unlevered ETFs StoryVector covers.
Where it sits in Geopolitical supply
Each dot is one of 48 unlevered ETFs whose main narrative is geopolitical supply, placed by its return (up) and how much it swung (right) over the last year.
Risk
Cost against its peers
SEA is the 20th cheapest of 30 ETFs in geopolitical supply. The dashed line is the middle of the group, 0.46% a year.
How it is built
An unlevered long ETF that owns its holdings directly. It counts toward Share of Narrative.
Narrative exposure
Second narrative: not yet confirmed from a filing.
Common questions
What story is SEA selling?
SEA’s main story is geopolitical supply, which covers oil and the companies that produce, move and refine it, priced partly on the risk that supply is cut off. Its second is the reshoring trade.
Which ETFs compete with SEA?
The ETFs whose weekly returns move most like SEA’s over the past 3 years are SUPL (0.66), SHPP (0.64) and ENOR (0.64).
How has SEA performed against its story?
Over the past year SEA returned +56.1%, the ETFs carrying geopolitical supply +39.7% and broad US ETFs +16.8%, to October 2, 2026. Its weekly returns have a correlation of 0.42 with the story. Past performance only.
Run an ETF in geopolitical supply? StoryVector shows issuers where their ETFs stand against the closest rivals, every week.
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