ISIF.TO vs. RIRA.TO

Last updated Jul 25, 2026

ISIF.TO (IA Clarington Strategic Income Fund) and RIRA.TO (Russell Investments Real Assets) are both exchange-traded funds - ISIF.TO is a Diversified Portfolio fund actively managed by IA Clarington Investments Inc., while RIRA.TO is a Infrastructure Equities fund actively managed by Russell Investments Canada Limited. Both are actively managed. Over the past 5 years, ISIF.TO returned 7.01%/yr vs 7.83%/yr for RIRA.TO. At a 0.21 correlation, their price movements are largely independent. ISIF.TO charges 0.94%/yr vs 1.31%/yr for RIRA.TO.

Performance

ISIF.TO vs. RIRA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in IA Clarington Strategic Income Fund (ISIF.TO) and Russell Investments Real Assets (RIRA.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISIF.TO achieves a 6.17% return, which is significantly lower than RIRA.TO's 18.72% return.

ISIF.TO

• 1D: -0.37%
• 1M: 0.68%
• 6M: 5.28%
• YTD: 6.17%
• 1Y: 10.95%
• 3Y*: 11.09%
• 5Y*: 7.01%
• 10Y*: —
• ALL TIME*: 7.42%

RIRA.TO

• 1D: 0.46%
• 1M: 2.78%
• 6M: 13.99%
• YTD: 18.72%
• 1Y: 26.17%
• 3Y*: 11.94%
• 5Y*: 7.83%
• 10Y*: —
• ALL TIME*: 6.36%

*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)
ISIF.TO IA Clarington Strategic Income Fund	CA$409.30	CA$5.79K	CA$2.57K
RIRA.TO Russell Investments Real Assets	CA$30.02K	CA$31.90K	CA$47.40K

ISIF.TO vs. RIRA.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ISIF.TO IA Clarington Strategic Income Fund	6.17%	12.42%	11.91%	6.17%	-5.63%	17.60%	-0.50%
RIRA.TO Russell Investments Real Assets	18.72%	10.46%	8.03%	4.50%	-8.47%	17.83%	-6.50%

Correlation

The correlation between ISIF.TO and RIRA.TO is 0.09, 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	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jan 23, 2020	0.21

The correlation between ISIF.TO and RIRA.TO shifts across timeframes, from 0.09 (1 year) to 0.24 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

ISIF.TO vs. RIRA.TO — Risk / Return Rank

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

ISIF.TO

ISIF.TO Risk / Return Rank: 73
ISIF.TO Sharpe Ratio Rank: 67
ISIF.TO Sortino Ratio Rank: 71
ISIF.TO Omega Ratio Rank: 76
ISIF.TO Calmar Ratio Rank: 70
ISIF.TO Martin Ratio Rank: 79

RIRA.TO

RIRA.TO Risk / Return Rank: 95
RIRA.TO Sharpe Ratio Rank: 95
RIRA.TO Sortino Ratio Rank: 95
RIRA.TO Omega Ratio Rank: 95
RIRA.TO Calmar Ratio Rank: 96
RIRA.TO Martin Ratio Rank: 95

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.

ISIF.TO vs. RIRA.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IA Clarington Strategic Income Fund (ISIF.TO) and Russell Investments Real Assets (RIRA.TO). 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.

	ISIF.TO	RIRA.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.54	2.88	-1.34
Sortino ratio: Return per unit of downside risk	2.33	4.03	-1.70
Omega ratio: Gain probability vs. loss probability	1.32	1.53	-0.21
Calmar ratio: Return relative to maximum drawdown	2.49	5.98	-3.49
Martin ratio: Return relative to average drawdown	10.30	21.53	-11.23

ISIF.TO vs. RIRA.TO - Sharpe Ratio Comparison

The current ISIF.TO Sharpe Ratio is 1.54, which is lower than the RIRA.TO Sharpe Ratio of 2.88. The chart below compares the historical Sharpe Ratios of ISIF.TO and RIRA.TO, 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

ISIF.TO vs. RIRA.TO - Drawdown Comparison

The maximum ISIF.TO drawdown since its inception was -18.65%, smaller than the maximum RIRA.TO drawdown of -25.82%. Use the drawdown chart below to compare losses from any high point for ISIF.TO and RIRA.TO.

Drawdown Indicators

	ISIF.TO	RIRA.TO	Difference
Max Drawdown Largest peak-to-trough decline	-18.65%	-25.82%	+7.17%
Max Drawdown (1Y) Largest decline over 1 year	-4.64%	-4.40%	-0.24%
Max Drawdown (3Y) Largest decline over 3 years	-8.40%	-12.05%	+3.65%
Max Drawdown (5Y) Largest decline over 5 years	-11.47%	-16.56%	+5.09%
Current Drawdown Current decline from peak	-0.58%	0.00%	-0.58%
Average Drawdown Average peak-to-trough decline	-3.04%	-6.12%	+3.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.12%	1.22%	-0.10%

Volatility

ISIF.TO vs. RIRA.TO - Volatility Comparison

IA Clarington Strategic Income Fund (ISIF.TO) has a higher volatility of 5.06% compared to Russell Investments Real Assets (RIRA.TO) at 2.03%. This indicates that ISIF.TO's price experiences larger fluctuations and is considered to be riskier than RIRA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISIF.TO	RIRA.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.06%	2.03%	+3.03%
Volatility (6M) Calculated over the trailing 6-month period	6.64%	6.56%	+0.08%
Volatility (1Y) Calculated over the trailing 1-year period	7.48%	9.12%	-1.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.60%	12.70%	-3.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.25%	13.83%	-3.58%

ISIF.TO vs. RIRA.TO - Expense Ratio Comparison

ISIF.TO has a 0.94% expense ratio, which is lower than RIRA.TO's 1.31% expense ratio.

Dividends

ISIF.TO vs. RIRA.TO - Dividend Comparison

ISIF.TO's dividend yield for the trailing twelve months is around 2.78%, less than RIRA.TO's 3.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ISIF.TO IA Clarington Strategic Income Fund	2.78%	2.83%	2.85%	2.58%	2.98%	1.59%	2.68%	0.44%
RIRA.TO Russell Investments Real Assets	3.78%	4.27%	4.31%	6.16%	6.34%	3.95%	4.58%	0.00%

Frequently Asked Questions

Can I hold both ISIF.TO and RIRA.TO in my portfolio?

ISIF.TO and RIRA.TO have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ISIF.TO or RIRA.TO?

On fees, ISIF.TO is cheaper at 0.94% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ISIF.TO or RIRA.TO?

ISIF.TO is cheaper with a 0.94% expense ratio, compared with 1.31% for RIRA.TO.

What is the main difference between ISIF.TO and RIRA.TO?

ISIF.TO is categorized as Diversified Portfolio, while RIRA.TO is Infrastructure Equities. They also come from different issuers: IA Clarington Investments Inc. and Russell Investments Canada Limited. Their fees differ too: 0.94% for ISIF.TO and 1.31% for RIRA.TO.