FCTE vs. RAFE

Last updated Aug 2, 2026

FCTE (SMI 3Fourteen Full-Cycle Trend ETF) and RAFE (PIMCO RAFI ESG U.S. ETF) are both Large Cap Blend Equities funds. FCTE is actively managed, while RAFE is passively managed. Over the past year, FCTE returned 13.55% vs 31.75% for RAFE. Their 0.74 correlation means they have sometimes moved together and sometimes differently. FCTE charges 0.85%/yr vs 0.30%/yr for RAFE.

Performance

FCTE vs. RAFE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SMI 3Fourteen Full-Cycle Trend ETF (FCTE) and PIMCO RAFI ESG U.S. ETF (RAFE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FCTE having a 16.87% return and RAFE slightly lower at 16.68%.

FCTE

• 1D: 1.22%
• 1M: 0.54%
• 6M: 9.25%
• YTD: 16.87%
• 1Y: 13.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.91%

RAFE

• 1D: -0.31%
• 1M: 1.12%
• 6M: 14.64%
• YTD: 16.68%
• 1Y: 31.75%
• 3Y*: 18.09%
• 5Y*: 11.54%
• 10Y*: —
• ALL TIME*: 12.67%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FCTE SMI 3Fourteen Full-Cycle Trend ETF	$395.29K	$768.22K	$634.95K
RAFE PIMCO RAFI ESG U.S. ETF	$564.44K	$467.39K	$607.84K

FCTE vs. RAFE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FCTE SMI 3Fourteen Full-Cycle Trend ETF	16.87%	-3.80%	6.19%
RAFE PIMCO RAFI ESG U.S. ETF	16.68%	17.60%	4.50%

Correlation

The correlation between FCTE and RAFE is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.67
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024	0.74

The correlation between FCTE and RAFE has been stable across timeframes, ranging from 0.67 to 0.74 - a consistent structural relationship.

Return for Risk

FCTE vs. RAFE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FCTE

FCTE Risk / Return Rank: 32
FCTE Sharpe Ratio Rank: 33
FCTE Sortino Ratio Rank: 33
FCTE Omega Ratio Rank: 31
FCTE Calmar Ratio Rank: 30
FCTE Martin Ratio Rank: 31

RAFE

RAFE Risk / Return Rank: 93
RAFE Sharpe Ratio Rank: 94
RAFE Sortino Ratio Rank: 94
RAFE Omega Ratio Rank: 93
RAFE Calmar Ratio Rank: 91
RAFE Martin Ratio Rank: 92

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FCTE vs. RAFE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SMI 3Fourteen Full-Cycle Trend ETF (FCTE) and PIMCO RAFI ESG U.S. ETF (RAFE). 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.

	FCTE	RAFE	Difference
Sharpe ratio: Return per unit of total volatility	0.82	2.67	-1.85
Sortino ratio: Return per unit of downside risk	1.26	3.70	-2.45
Omega ratio: Gain probability vs. loss probability	1.15	1.48	-0.32
Calmar ratio: Return relative to maximum drawdown	0.97	4.09	-3.11
Martin ratio: Return relative to average drawdown	2.74	16.26	-13.51

FCTE vs. RAFE - Sharpe Ratio Comparison

The current FCTE Sharpe Ratio is 0.82, which is lower than the RAFE Sharpe Ratio of 2.67. The chart below compares the historical Sharpe Ratios of FCTE and RAFE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FCTE vs. RAFE - Drawdown Comparison

The maximum FCTE drawdown since its inception was -19.68%, smaller than the maximum RAFE drawdown of -35.74%. Use the drawdown chart below to compare losses from any high point for FCTE and RAFE.

Drawdown Indicators

	FCTE	RAFE	Difference
Max Drawdown Largest peak-to-trough decline	-19.68%	-35.74%	+16.06%
Max Drawdown (1Y) Largest decline over 1 year	-12.85%	-7.46%	-5.39%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.36%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.28%	—
Current Drawdown Current decline from peak	-0.37%	-0.96%	+0.59%
Average Drawdown Average peak-to-trough decline	-5.63%	-6.08%	+0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.55%	1.87%	+2.68%

Volatility

FCTE vs. RAFE - Volatility Comparison

SMI 3Fourteen Full-Cycle Trend ETF (FCTE) has a higher volatility of 3.40% compared to PIMCO RAFI ESG U.S. ETF (RAFE) at 3.01%. This indicates that FCTE's price experiences larger fluctuations and is considered to be riskier than RAFE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCTE	RAFE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.40%	3.01%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	12.21%	8.70%	+3.51%
Volatility (1Y) Calculated over the trailing 1-year period	15.29%	11.48%	+3.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.40%	15.05%	+3.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.40%	19.27%	-0.87%

FCTE vs. RAFE - Expense Ratio Comparison

FCTE has a 0.85% expense ratio, which is higher than RAFE's 0.30% expense ratio.

Dividends

FCTE vs. RAFE - Dividend Comparison

FCTE's dividend yield for the trailing twelve months is around 0.08%, less than RAFE's 1.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FCTE SMI 3Fourteen Full-Cycle Trend ETF	0.08%	0.18%	0.18%	0.00%	0.00%	0.00%	0.00%
RAFE PIMCO RAFI ESG U.S. ETF	1.48%	1.67%	1.79%	1.81%	2.22%	1.42%	2.36%

Frequently Asked Questions

Can I hold both FCTE and RAFE in my portfolio?

FCTE and RAFE have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCTE or RAFE?

FCTE has higher volatility (3.40%) compared to RAFE (3.01%). In terms of maximum drawdown, FCTE dropped -19.68% vs RAFE's -35.74%.

Which ETF is better, FCTE or RAFE?

On 1-year performance, RAFE leads with 31.75% vs 13.55% for FCTE. On fees, RAFE is cheaper at 0.30% per year. On volatility, RAFE has been the lower-risk option at 3.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FCTE or RAFE?

Over the 1-year period, RAFE has performed better with a 31.75% return vs 13.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FCTE or RAFE?

RAFE is cheaper with a 0.30% expense ratio, compared with 0.85% for FCTE.

Which ETF pays a higher dividend yield, FCTE or RAFE?

RAFE has the higher dividend yield at 1.48%, compared with 0.08% for FCTE.

What is the main difference between FCTE and RAFE?

They also come from different issuers: SMI 3Fourteen and PIMCO. Their fees differ too: 0.85% for FCTE and 0.30% for RAFE.

Which has better risk-adjusted returns?

RAFE currently has the higher Sharpe Ratio (2.67 vs 0.82), 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.