SEA shipping ETF's December 2025 distribution fell 60% to $0.9609 per share, exposing the fund's exposure to volatile freight cycles

The U.S. Global Sea to Sky Cargo ETF (NYSEARCA:SEA) paid $0.9609 per share in December 2025, down from $2.40 in December 2024. Annual distributions were $2.59 in 2022, $1.48 in 2023, $2.40 in 2024, and $0.96 in 2025.

SEA is a passively managed index fund allocating roughly 70% to sea cargo and 30% to air freight, passing through dividends from holdings like SITC International Holdings, Kuehne & Nagel International, Evergreen Marine, and Wan Hai Lines. The fund has no options overlay, return of capital strategy, or smoothing mechanism.

Shares trade at $17, up 20% year-to-date and 20% over the past year, recovering from a low of $11 in April 2025. A holder who bought at the wrong moment during the 2025 decline lost more in NAV than they collected in income.

The fund has $18.96 million in AUM and a 0.6% expense ratio. It is structured as a small, narrow vehicle suited for investors accepting variable distributions tied to the shipping cycle, not for retirees seeking predictable monthly or quarterly income.