ASET vs. RLY

Last updated Jun 24, 2026

ASET (FlexShares Real Assets Allocation Index Fund) and RLY (SPDR SSgA Multi-Asset Real Return ETF) are both exchange-traded funds - ASET is a Diversified Portfolio fund tracking the Northern Trust Real Assets Allocation Total Return, while RLY is a Hedge Fund fund actively managed by State Street. ASET is passively managed, while RLY is actively managed. ASET charges 0.57%/yr vs 0.50%/yr for RLY.

Performance

ASET vs. RLY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares Real Assets Allocation Index Fund (ASET) and SPDR SSgA Multi-Asset Real Return ETF (RLY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ASET

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

RLY

• 1D: -0.77%
• 1M: -4.87%
• YTD: 11.33%
• 6M: 10.55%
• 1Y: 23.01%
• 3Y*: 13.30%
• 5Y*: 9.65%
• 10Y*: 8.09%

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

ASET vs. RLY - Yearly Performance Comparison

	2026 (YTD)
ASET FlexShares Real Assets Allocation Index Fund	0.00%
RLY SPDR SSgA Multi-Asset Real Return ETF	3.47%

Return for Risk

ASET vs. RLY — Risk / Return Rank

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

ASET

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

RLY

RLY Risk / Return Rank: 74
RLY Sharpe Ratio Rank: 72
RLY Sortino Ratio Rank: 71
RLY Omega Ratio Rank: 72
RLY Calmar Ratio Rank: 74
RLY Martin Ratio Rank: 83

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.

ASET vs. RLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares Real Assets Allocation Index Fund (ASET) and SPDR SSgA Multi-Asset Real Return ETF (RLY). 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.

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.

	ASET	RLY	Difference
Sharpe ratio: Return per unit of total volatility	—	2.20	—
Sortino ratio: Return per unit of downside risk	—	3.03	—
Omega ratio: Gain probability vs. loss probability	—	1.40	—
Calmar ratio: Return relative to maximum drawdown	—	3.57	—
Martin ratio: Return relative to average drawdown	—	16.17	—

Drawdowns

ASET vs. RLY - Drawdown Comparison

The maximum ASET drawdown since its inception was 0.00%, smaller than the maximum RLY drawdown of -37.75%. Use the drawdown chart below to compare losses from any high point for ASET and RLY.

Drawdown Indicators

	ASET	RLY	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-37.75%	+37.75%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.47%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-10.08%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.94%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.17%	—
Current Drawdown Current decline from peak	0.00%	-6.47%	+6.47%
Average Drawdown Average peak-to-trough decline	0.00%	-9.44%	+9.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.43%	—

Volatility

Volatility by Period

	ASET	RLY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.18%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.47%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	10.49%	-10.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	13.53%	-13.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	13.81%	-13.81%

ASET vs. RLY - Expense Ratio Comparison

ASET has a 0.57% expense ratio, which is higher than RLY's 0.50% expense ratio.

Dividends

ASET vs. RLY - Dividend Comparison

ASET has not paid dividends to shareholders, while RLY's dividend yield for the trailing twelve months is around 3.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASET FlexShares Real Assets Allocation Index Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RLY SPDR SSgA Multi-Asset Real Return ETF	3.01%	3.24%	3.31%	3.71%	5.66%	12.15%	2.16%	3.45%	2.76%	1.85%	2.07%	1.80%

Frequently Asked Questions

Which ETF is better, ASET or RLY?

On fees, RLY is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ASET or RLY?

RLY is cheaper with a 0.50% expense ratio, compared with 0.57% for ASET.

Which ETF pays a higher dividend yield, ASET or RLY?

RLY has the higher dividend yield at 3.01%, compared with 0.00% for ASET.

What is the main difference between ASET and RLY?

ASET is categorized as Diversified Portfolio, while RLY is Hedge Fund. They also come from different issuers: Northern Trust and State Street. Their fees differ too: 0.57% for ASET and 0.50% for RLY.