SEA.P Rallies on Cargo Inflows Despite Higher Fees

ETF Overview and Capital Flows

SEA.P, the U.S. Global Sea to Sky Cargo ETF, tracks an index of global water and air cargo companies weighted by fixed tiers tied to fundamental scores. As a non-leveraged, long-only equity ETF, it focuses on industrials sector firms, offering exposure to logistics and transportation infrastructure. Recent fund flows show a surge in investor demand: on Jan. 30, 2026, net inflows hit $8.8 million from orders and $8 million from block trades, signaling tactical positioning in the sector.

Peer ETF Snapshot

• ACVT.P charges 0.65% expense ratio with $30M assets, mirroring SEA.P’s focus on active cargo themes.
• ANGL.O offers lower costs at 0.25% and holds $3B, reflecting broader industrials exposure.
• AGG.P, a 0.03% expense bond ETF, manages $138B, highlighting scale advantages in passive strategies.
• APMU.P targets emerging markets at 0.37% expense with $215M under management.

Opportunities and Structural Constraints

SEA.P’s recent inflows suggest growing interest in cargo logistics amid global supply chain shifts. However, its 0.6% expense ratio lags peers like ANGL.O (0.25%) and AGG.P (0.03%), which may limit scalability. While the ETF’s thematic focus offers niche exposure, its performance remains tied to cyclical industrials demand. At the end of the day, investors must weigh its specialized mandate against broader, lower-cost alternatives for diversified sector access.