RAA vs. ASET

Last updated Jun 23, 2026

RAA (SMI 3Fourteen REAL Asset Allocation ETF) and ASET (FlexShares Real Assets Allocation Index Fund) are both Diversified Portfolio funds. RAA is actively managed, while ASET is passively managed. RAA charges 0.85%/yr vs 0.57%/yr for ASET.

Performance

RAA vs. ASET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SMI 3Fourteen REAL Asset Allocation ETF (RAA) and FlexShares Real Assets Allocation Index Fund (ASET). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

RAA

• 1D: -0.16%
• 1M: -0.64%
• YTD: 8.82%
• 6M: 8.51%
• 1Y: 21.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ASET

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

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

RAA vs. ASET - Yearly Performance Comparison

	2026 (YTD)
RAA SMI 3Fourteen REAL Asset Allocation ETF	7.73%
ASET FlexShares Real Assets Allocation Index Fund	0.00%

Return for Risk

RAA vs. ASET — Risk / Return Rank

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

RAA

RAA Risk / Return Rank: 69
RAA Sharpe Ratio Rank: 67
RAA Sortino Ratio Rank: 64
RAA Omega Ratio Rank: 68
RAA Calmar Ratio Rank: 74
RAA Martin Ratio Rank: 74

ASET

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

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.

RAA vs. ASET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SMI 3Fourteen REAL Asset Allocation ETF (RAA) and FlexShares Real Assets Allocation Index Fund (ASET). 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.

	RAA	ASET	Difference
Sharpe ratio: Return per unit of total volatility	2.12	—	—
Sortino ratio: Return per unit of downside risk	2.86	—	—
Omega ratio: Gain probability vs. loss probability	1.39	—	—
Calmar ratio: Return relative to maximum drawdown	3.62	—	—
Martin ratio: Return relative to average drawdown	13.63	—	—

Drawdowns

RAA vs. ASET - Drawdown Comparison

The maximum RAA drawdown since its inception was -11.96%, which is greater than ASET's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for RAA and ASET.

Drawdown Indicators

	RAA	ASET	Difference
Max Drawdown Largest peak-to-trough decline	-11.96%	0.00%	-11.96%
Max Drawdown (1Y) Largest decline over 1 year	-5.91%	—	—
Current Drawdown Current decline from peak	-2.39%	0.00%	-2.39%
Average Drawdown Average peak-to-trough decline	-1.48%	0.00%	-1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.56%	—	—

Volatility

Volatility by Period

	RAA	ASET	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.18%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.11%	0.00%	+10.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.86%	0.00%	+12.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.86%	0.00%	+12.86%

RAA vs. ASET - Expense Ratio Comparison

RAA has a 0.85% expense ratio, which is higher than ASET's 0.57% expense ratio.

Dividends

RAA vs. ASET - Dividend Comparison

RAA's dividend yield for the trailing twelve months is around 2.11%, while ASET has not paid dividends to shareholders.

Position	TTM	2025
ASET FlexShares Real Assets Allocation Index Fund	0.00%	0.00%
RAA SMI 3Fourteen REAL Asset Allocation ETF	2.11%	2.14%

Frequently Asked Questions

Which ETF is better, RAA or ASET?

On fees, ASET is cheaper at 0.57% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RAA or ASET?

ASET is cheaper with a 0.57% expense ratio, compared with 0.85% for RAA.

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

RAA has the higher dividend yield at 2.11%, compared with 0.00% for ASET.

What is the main difference between RAA and ASET?

They also come from different issuers: SMI Advisory Services and Northern Trust. Their fees differ too: 0.85% for RAA and 0.57% for ASET.