- ISIN
- US33939L8862
- CUSIP
- 33939L886
- Issuer
- FlexShares
- Inception Date
- Oct 9, 2012
- Region
- Global (Broad)
- Category
- Ultrashort Bond
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $1B
Share Price Chart
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Performance
RAVI Performance Chart
FlexShares Ultra-Short Income ETF (RAVI) is up 1.6% since the beginning of the year. RAVI is currently trading at $75 per share. Investors who bought $1,000 worth of RAVI shares 5 years ago would now be looking at an investment worth $1,189.
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Returns By Period
FlexShares Ultra-Short Income ETF (RAVI) has returned 1.64% so far this year and 4.35% over the past 12 months. Over the last ten years, RAVI has returned 2.67% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
FlexShares Ultra-Short Income ETF
- 1D
- -0.01%
- 1M
- 0.25%
- YTD
- 1.64%
- 6M
- 1.77%
- 1Y
- 4.35%
- 3Y*
- 5.16%
- 5Y*
- 3.53%
- 10Y*
- 2.67%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
RAVI Monthly Returns History
Based on dividend-adjusted daily data since Jan 4, 2016, RAVI's average daily return is +0.01%, while the average monthly return is +0.22%. At this rate, an investment would double in approximately 26.3 years.
Historically, 84% of months were positive and 16% were negative. The best month was Apr 2020 with a return of +2.0%, while the worst month was Mar 2020 at -2.4%. The longest winning streak lasted 45 consecutive months, and the longest losing streak was 8 months.
On a daily basis, RAVI closed higher 59% of trading days. The best single day was Apr 20, 2022 with a return of +2.0%, while the worst single day was Apr 19, 2022 at -2.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.34% | 0.35% | 0.03% | 0.38% | 0.38% | 0.15% | 1.64% | ||||||
| 2025 | 0.44% | 0.49% | 0.38% | 0.20% | 0.38% | 0.50% | 0.40% | 0.48% | 0.43% | 0.36% | 0.37% | 0.44% | 4.98% |
| 2024 | 0.56% | 0.40% | 0.45% | 0.43% | 0.51% | 0.44% | 0.54% | 0.55% | 0.55% | 0.25% | 0.40% | 0.43% | 5.67% |
| 2023 | 0.62% | 0.33% | 0.21% | 0.46% | 0.39% | 0.42% | 0.54% | 0.46% | 0.38% | 0.42% | 0.59% | 0.61% | 5.55% |
| 2022 | -0.23% | -0.17% | -0.45% | -0.12% | 0.04% | -0.26% | 0.20% | 0.21% | -0.07% | 0.03% | 0.51% | 0.46% | 0.15% |
| 2021 | 0.05% | 0.00% | -0.08% | 0.11% | 0.15% | -0.04% | 0.07% | 0.05% | -0.02% | -0.14% | -0.08% | -0.11% | -0.04% |
Benchmark Metrics
FlexShares Ultra-Short Income ETF has an annualized alpha of 2.57%, beta of 0.01, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since January 04, 2016.
- This ETF captured 6.66% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -3.22%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.01 may look defensive, but with R2 of 0.01 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.01 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 2.57%
- Beta
- 0.01
- R²
- 0.01
- Upside Capture
- 6.66%
- Downside Capture
- -3.22%
Expense Ratio
RAVI has an expense ratio of 0.25%, which is considered low.
Return for Risk
Risk / Return Rank
RAVI ranks 99 for risk / return — in the top 99% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for FlexShares Ultra-Short Income ETF (RAVI) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| RAVI | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.69 | ||
| Sortino ratioReturn per unit of downside risk | +20.64 | ||
| Omega ratioGain probability vs. loss probability | 5.22 | 1.37 | +3.85 |
| Calmar ratioReturn relative to maximum drawdown | 37.38 | 2.78 | +34.60 |
| Martin ratioReturn relative to average drawdown | 214.13 | 12.44 | +201.69 |
Dividends
Dividend History
FlexShares Ultra-Short Income ETF provided a 4.38% dividend yield over the last twelve months, with an annual payout of $3.30 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $3.30 | $3.46 | $4.01 | $3.41 | $1.27 | $0.68 | $0.99 | $1.91 | $1.67 | $0.96 | $0.68 |
Dividend yield | 4.38% | 4.59% | 5.34% | 4.55% | 1.70% | 0.90% | 1.29% | 2.53% | 2.22% | 1.28% | 0.90% |
Monthly Dividends
The table displays the monthly dividend distributions for FlexShares Ultra-Short Income ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.26 | $0.24 | $0.27 | $0.26 | $0.26 | $1.29 | ||||||
| 2025 | $0.00 | $0.30 | $0.28 | $0.30 | $0.29 | $0.29 | $0.28 | $0.29 | $0.29 | $0.28 | $0.29 | $0.57 | $3.46 |
| 2024 | $0.00 | $0.34 | $0.31 | $0.34 | $0.33 | $0.35 | $0.33 | $0.36 | $0.35 | $0.32 | $0.32 | $0.66 | $4.01 |
| 2023 | $0.00 | $0.24 | $0.22 | $0.25 | $0.26 | $0.28 | $0.28 | $0.30 | $0.30 | $0.31 | $0.32 | $0.67 | $3.41 |
| 2022 | $0.00 | $0.03 | $0.03 | $0.03 | $0.05 | $0.07 | $0.08 | $0.11 | $0.14 | $0.14 | $0.18 | $0.41 | $1.27 |
| 2021 | $0.00 | $0.05 | $0.04 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.27 | $0.68 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the FlexShares Ultra-Short Income ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the FlexShares Ultra-Short Income ETF was 3.72%, occurring on Mar 20, 2020. Recovery took 43 trading sessions.
The current FlexShares Ultra-Short Income ETF drawdown is 0.03%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -3.72%Mar 2020 | 16d | 2mo 2d | 2mo 18dMar 2020 - May 2020 |
Bear market2022 | -3.28%Apr 2022 | 7mo 7d | 8mo 28d | 1y 4moSep 2021 - Jan 2023 |
2016 pullback2016 | -0.77%Mar 2016 | 1mo 3d | 2mo 19d | 3mo 22dFeb 2016 - Jun 2016 |
2016 pullback2016 | -0.41%Nov 2016 | 1mo 10d | 2mo 8d | 3mo 18dOct 2016 - Feb 2017 |
2023 pullback2023 | -0.37%Mar 2023 | 6d | 15d | 21dMar 2023 - Apr 2023 |
Drawdown Indicators
| RAVI | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.72% | -56.78% | +53.06% |
Max Drawdown (1Y)Largest decline over 1 year | -0.12% | -9.10% | +8.98% |
Max Drawdown (3Y)Largest decline over 3 years | -0.36% | -18.90% | +18.54% |
Max Drawdown (5Y)Largest decline over 5 years | -3.28% | -25.43% | +22.15% |
Max Drawdown (10Y)Largest decline over 10 years | -3.72% | -33.92% | +30.20% |
Current DrawdownCurrent decline from peak | -0.03% | -1.80% | +1.77% |
Average DrawdownAverage peak-to-trough decline | -0.17% | -10.71% | +10.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 2.03% | -2.01% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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