AIRR vs. WMT

Last updated Jun 9, 2026

AIRR (First Trust RBA American Industrial Renaissance ETF) is Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index, while WMT (Walmart Inc.) is a stock. Over the past 10 years, AIRR returned 21.61%/yr vs 19.62%/yr for WMT. At a 0.25 correlation, their price movements are largely independent.

Performance

AIRR vs. WMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust RBA American Industrial Renaissance ETF (AIRR) and Walmart Inc. (WMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIRR achieves a 30.41% return, which is significantly higher than WMT's 7.98% return. Over the past 10 years, AIRR has outperformed WMT with an annualized return of 21.61%, while WMT has yielded a comparatively lower 19.62% annualized return.

AIRR

• 1D: 0.13%
• 1M: -1.14%
• YTD: 30.41%
• 6M: 29.32%
• 1Y: 61.66%
• 3Y*: 35.42%
• 5Y*: 24.95%
• 10Y*: 21.61%

WMT

• 1D: 0.80%
• 1M: -8.13%
• YTD: 7.98%
• 6M: 6.15%
• 1Y: 23.97%
• 3Y*: 34.37%
• 5Y*: 22.47%
• 10Y*: 19.62%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AIRR vs. WMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AIRR First Trust RBA American Industrial Renaissance ETF	30.41%	27.92%	33.45%	31.43%	-2.08%	33.01%	17.17%	33.97%	-20.57%	16.28%
WMT Walmart Inc.	7.98%	24.49%	73.99%	12.88%	-0.46%	1.97%	23.32%	30.16%	-3.43%	46.56%

Correlation

The correlation between AIRR and WMT is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Mar 12, 2014	0.25

Over the past year, the correlation between AIRR and WMT has dropped to 0.01 - well below their long-term average of 0.25, suggesting their price drivers have been diverging.

Return for Risk

AIRR vs. WMT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AIRR

AIRR Risk / Return Rank: 82
AIRR Sharpe Ratio Rank: 83
AIRR Sortino Ratio Rank: 79
AIRR Omega Ratio Rank: 73
AIRR Calmar Ratio Rank: 88
AIRR Martin Ratio Rank: 88

WMT

WMT Risk / Return Rank: 71
WMT Sharpe Ratio Rank: 73
WMT Sortino Ratio Rank: 67
WMT Omega Ratio Rank: 67
WMT Calmar Ratio Rank: 70
WMT Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AIRR vs. WMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust RBA American Industrial Renaissance ETF (AIRR) and Walmart Inc. (WMT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AIRR	WMT	Difference
Sharpe ratio: Return per unit of total volatility	2.43	1.02	+1.41
Sortino ratio: Return per unit of downside risk	3.16	1.54	+1.62
Omega ratio: Gain probability vs. loss probability	1.39	1.20	+0.19
Calmar ratio: Return relative to maximum drawdown	4.74	1.53	+3.21
Martin ratio: Return relative to average drawdown	17.47	5.02	+12.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AIRR vs. WMT - Sharpe Ratio Comparison

The current AIRR Sharpe Ratio is 2.43, which is higher than the WMT Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of AIRR and WMT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AIRR	WMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.43	1.02	+1.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.99	1.04	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.91	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.64	+0.03

Drawdowns

AIRR vs. WMT - Drawdown Comparison

The maximum AIRR drawdown since its inception was -42.37%, smaller than the maximum WMT drawdown of -77.14%. Use the drawdown chart below to compare losses from any high point for AIRR and WMT.

Drawdown Indicators

	AIRR	WMT	Difference
Max Drawdown Largest peak-to-trough decline	-42.37%	-77.14%	+34.77%
Max Drawdown (1Y) Largest decline over 1 year	-13.09%	-15.75%	+2.66%
Max Drawdown (3Y) Largest decline over 3 years	-27.95%	-21.93%	-6.02%
Max Drawdown (5Y) Largest decline over 5 years	-27.95%	-25.74%	-2.21%
Max Drawdown (10Y) Largest decline over 10 years	-42.37%	-25.74%	-16.63%
Current Drawdown Current decline from peak	-2.88%	-10.71%	+7.83%
Average Drawdown Average peak-to-trough decline	-7.42%	-14.63%	+7.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.54%	4.79%	-1.25%

Volatility

AIRR vs. WMT - Volatility Comparison

The current volatility for First Trust RBA American Industrial Renaissance ETF (AIRR) is 7.07%, while Walmart Inc. (WMT) has a volatility of 10.26%. This indicates that AIRR experiences smaller price fluctuations and is considered to be less risky than WMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIRR	WMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.07%	10.26%	-3.19%
Volatility (6M) Calculated over the trailing 6-month period	20.10%	18.59%	+1.51%
Volatility (1Y) Calculated over the trailing 1-year period	25.55%	23.72%	+1.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.33%	21.68%	+3.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.30%	21.73%	+4.57%

Dividends

AIRR vs. WMT - Dividend Comparison

AIRR's dividend yield for the trailing twelve months is around 0.14%, less than WMT's 0.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIRR First Trust RBA American Industrial Renaissance ETF	0.14%	0.19%	0.18%	0.23%	0.12%	0.05%	0.10%	0.20%	0.43%	0.30%	0.08%	0.47%
WMT Walmart Inc.	0.81%	0.84%	0.92%	1.45%	1.58%	1.52%	1.50%	1.78%	2.23%	2.07%	2.89%	3.20%

Frequently Asked Questions

Can I hold both AIRR and WMT in my portfolio?

AIRR and WMT have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIRR or WMT?

WMT has higher volatility (10.26%) compared to AIRR (7.07%). In terms of maximum drawdown, AIRR dropped -42.37% vs WMT's -77.14%.

Which has better risk-adjusted returns?

AIRR currently has the higher Sharpe Ratio (2.43 vs 1.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.