IGE vs. RAVI
IGE (iShares North American Natural Resources ETF) and RAVI (FlexShares Ultra-Short Income ETF) are both exchange-traded funds - IGE is a Energy Equities fund tracking the S&P North American Natural Resources Sector Index, while RAVI is a Ultrashort Bond fund actively managed by FlexShares. IGE is passively managed, while RAVI is actively managed. Over the past 10 years, IGE returned 9.09%/yr vs 2.67%/yr for RAVI. At a correlation of -0.01, they often move in opposite directions. IGE charges 0.39%/yr vs 0.25%/yr for RAVI.
Performance
IGE vs. RAVI - Performance Comparison
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Returns By Period
In the year-to-date period, IGE achieves a 15.54% return, which is significantly higher than RAVI's 1.69% return. Over the past 10 years, IGE has outperformed RAVI with an annualized return of 9.09%, while RAVI has yielded a comparatively lower 2.67% annualized return.
IGE
- 1D
- -0.66%
- 1M
- -6.23%
- YTD
- 15.54%
- 6M
- 14.58%
- 1Y
- 31.93%
- 3Y*
- 18.55%
- 5Y*
- 16.34%
- 10Y*
- 9.09%
RAVI
- 1D
- 0.05%
- 1M
- 0.30%
- YTD
- 1.69%
- 6M
- 1.79%
- 1Y
- 4.37%
- 3Y*
- 5.17%
- 5Y*
- 3.54%
- 10Y*
- 2.67%
IGE vs. RAVI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGE iShares North American Natural Resources ETF | 15.54% | 20.41% | 7.55% | 3.12% | 33.24% | 39.42% | -19.58% | 17.16% | -21.59% | 0.82% |
RAVI FlexShares Ultra-Short Income ETF | 1.69% | 4.98% | 5.67% | 5.55% | 0.15% | -0.04% | 2.06% | 3.49% | 1.65% | 1.22% |
Correlation
The correlation between IGE and RAVI is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | -0.01 |
The correlation between IGE and RAVI shifts across timeframes, from -0.12 (1 year) to 0.03 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IGE vs. RAVI — Risk / Return Rank
IGE
RAVI
IGE vs. RAVI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares North American Natural Resources ETF (IGE) and FlexShares Ultra-Short Income ETF (RAVI). 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.
| IGE | RAVI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.78 | ||
| Sortino ratioReturn per unit of downside risk | -20.84 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 5.23 | -3.90 |
| Calmar ratioReturn relative to maximum drawdown | 3.65 | 37.51 | -33.86 |
| Martin ratioReturn relative to average drawdown | 11.94 | 214.85 | -202.91 |
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Drawdowns
IGE vs. RAVI - Drawdown Comparison
The maximum IGE drawdown since its inception was -67.55%, which is greater than RAVI's maximum drawdown of -3.72%. Use the drawdown chart below to compare losses from any high point for IGE and RAVI.
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Drawdown Indicators
| IGE | RAVI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.55% | -3.72% | -63.83% |
Max Drawdown (1Y)Largest decline over 1 year | -8.80% | -0.12% | -8.68% |
Max Drawdown (3Y)Largest decline over 3 years | -19.49% | -0.36% | -19.13% |
Max Drawdown (5Y)Largest decline over 5 years | -25.72% | -3.28% | -22.44% |
Max Drawdown (10Y)Largest decline over 10 years | -60.57% | -3.72% | -56.85% |
Current DrawdownCurrent decline from peak | -8.73% | 0.00% | -8.73% |
Average DrawdownAverage peak-to-trough decline | -18.87% | -0.17% | -18.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 0.02% | +2.66% |
Volatility
IGE vs. RAVI - Volatility Comparison
iShares North American Natural Resources ETF (IGE) has a higher volatility of 5.32% compared to FlexShares Ultra-Short Income ETF (RAVI) at 0.13%. This indicates that IGE's price experiences larger fluctuations and is considered to be riskier than RAVI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGE | RAVI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 0.13% | +5.19% |
Volatility (6M)Calculated over the trailing 6-month period | 12.96% | 0.31% | +12.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.51% | 0.41% | +16.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.41% | 1.41% | +21.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.93% | 1.28% | +23.65% |
IGE vs. RAVI - Expense Ratio Comparison
IGE has a 0.39% expense ratio, which is higher than RAVI's 0.25% expense ratio.
Dividends
IGE vs. RAVI - Dividend Comparison
IGE's dividend yield for the trailing twelve months is around 2.07%, less than RAVI's 4.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGE iShares North American Natural Resources ETF | 2.07% | 2.32% | 2.54% | 2.85% | 2.96% | 2.92% | 3.34% | 5.55% | 2.68% | 2.11% | 1.66% | 3.08% |
RAVI FlexShares Ultra-Short Income ETF | 4.37% | 4.59% | 5.34% | 4.55% | 1.70% | 0.90% | 1.29% | 2.53% | 2.22% | 1.28% | 0.90% | 0.00% |
Frequently Asked Questions
IGE and RAVI have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGE has higher volatility (5.32%) compared to RAVI (0.13%). In terms of maximum drawdown, IGE dropped -67.55% vs RAVI's -3.72%.
On 10-year performance, IGE leads with 9.09% vs 2.67% for RAVI. On fees, RAVI is cheaper at 0.25% per year. On volatility, RAVI has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IGE has performed better with a 9.09% return vs 2.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RAVI is cheaper with a 0.25% expense ratio, compared with 0.39% for IGE.
RAVI has the higher dividend yield at 4.37%, compared with 2.07% for IGE.
IGE is categorized as Energy Equities, while RAVI is Ultrashort Bond. They also come from different issuers: iShares and FlexShares. Their fees differ too: 0.39% for IGE and 0.25% for RAVI.
RAVI currently has the higher Sharpe Ratio (10.73 vs 1.95), 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.
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