RAA vs. FCTE

Last updated Aug 4, 2026

RAA (SMI 3Fourteen REAL Asset Allocation ETF) and FCTE (SMI 3Fourteen Full-Cycle Trend ETF) are both exchange-traded funds - RAA is a Diversified Portfolio fund actively managed by SMI 3Fourteen, while FCTE is a Large Cap Blend Equities fund actively managed by SMI 3Fourteen. Both are actively managed. Over the past year, RAA returned 17.36% vs 14.32% for FCTE. Their 0.67 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.85% expense ratio.

Performance

RAA vs. FCTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SMI 3Fourteen REAL Asset Allocation ETF (RAA) and SMI 3Fourteen Full-Cycle Trend ETF (FCTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RAA achieves a 7.87% return, which is significantly lower than FCTE's 17.66% return.

RAA

• 1D: 0.22%
• 1M: 0.49%
• 6M: 5.16%
• YTD: 7.87%
• 1Y: 17.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.06%

FCTE

• 1D: 0.68%
• 1M: 1.22%
• 6M: 9.48%
• YTD: 17.66%
• 1Y: 14.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.22%

*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	$495.96K	$792.02K	$641.49K
RAA SMI 3Fourteen REAL Asset Allocation ETF	$1.45M	$1.38M	$1.58M

RAA vs. FCTE - Yearly Performance Comparison

	2026 (YTD)	2025
RAA SMI 3Fourteen REAL Asset Allocation ETF	7.87%	11.92%
FCTE SMI 3Fourteen Full-Cycle Trend ETF	17.66%	-6.12%

Correlation

The correlation between RAA and FCTE is 0.61, 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.	0.61
Correlation (All Time) Calculated using the full available price history since Feb 26, 2025	0.67

The correlation between RAA and FCTE has been stable across timeframes, ranging from 0.61 to 0.67 - a consistent structural relationship.

Return for Risk

RAA vs. FCTE — Risk / Return Rank

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

RAA

RAA Risk / Return Rank: 69
RAA Sharpe Ratio Rank: 68
RAA Sortino Ratio Rank: 66
RAA Omega Ratio Rank: 67
RAA Calmar Ratio Rank: 78
RAA Martin Ratio Rank: 68

FCTE

FCTE Risk / Return Rank: 33
FCTE Sharpe Ratio Rank: 35
FCTE Sortino Ratio Rank: 35
FCTE Omega Ratio Rank: 33
FCTE Calmar Ratio Rank: 31
FCTE Martin Ratio Rank: 32

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.

RAA vs. FCTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SMI 3Fourteen REAL Asset Allocation ETF (RAA) and SMI 3Fourteen Full-Cycle Trend ETF (FCTE). 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	FCTE	Difference
Sharpe ratio: Return per unit of total volatility	1.67	0.94	+0.73
Sortino ratio: Return per unit of downside risk	2.30	1.42	+0.88
Omega ratio: Gain probability vs. loss probability	1.30	1.17	+0.13
Calmar ratio: Return relative to maximum drawdown	2.95	1.12	+1.83
Martin ratio: Return relative to average drawdown	8.78	3.15	+5.63

RAA vs. FCTE - Sharpe Ratio Comparison

The current RAA Sharpe Ratio is 1.67, which is higher than the FCTE Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of RAA and FCTE, 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

RAA vs. FCTE - Drawdown Comparison

The maximum RAA drawdown since its inception was -11.96%, smaller than the maximum FCTE drawdown of -19.68%. Use the drawdown chart below to compare losses from any high point for RAA and FCTE.

Drawdown Indicators

	RAA	FCTE	Difference
Max Drawdown Largest peak-to-trough decline	-11.96%	-19.68%	+7.72%
Max Drawdown (1Y) Largest decline over 1 year	-5.91%	-12.85%	+6.94%
Current Drawdown Current decline from peak	-3.25%	0.00%	-3.25%
Average Drawdown Average peak-to-trough decline	-1.65%	-5.62%	+3.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	4.55%	-2.57%

Volatility

RAA vs. FCTE - Volatility Comparison

The current volatility for SMI 3Fourteen REAL Asset Allocation ETF (RAA) is 2.58%, while SMI 3Fourteen Full-Cycle Trend ETF (FCTE) has a volatility of 3.44%. This indicates that RAA experiences smaller price fluctuations and is considered to be less risky than FCTE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RAA	FCTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.58%	3.44%	-0.86%
Volatility (6M) Calculated over the trailing 6-month period	8.12%	12.02%	-3.90%
Volatility (1Y) Calculated over the trailing 1-year period	10.45%	15.29%	-4.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.62%	18.39%	-5.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.62%	18.39%	-5.77%

RAA vs. FCTE - Expense Ratio Comparison

Both RAA and FCTE have an expense ratio of 0.85%.

Dividends

RAA vs. FCTE - Dividend Comparison

RAA's dividend yield for the trailing twelve months is around 2.13%, more than FCTE's 0.08% yield.

Position	TTM	2025	2024
FCTE SMI 3Fourteen Full-Cycle Trend ETF	0.08%	0.18%	0.18%
RAA SMI 3Fourteen REAL Asset Allocation ETF	2.13%	2.14%	0.00%

Frequently Asked Questions

Can I hold both RAA and FCTE in my portfolio?

RAA and FCTE have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RAA or FCTE?

FCTE has higher volatility (3.44%) compared to RAA (2.58%). In terms of maximum drawdown, RAA dropped -11.96% vs FCTE's -19.68%.

Which ETF is better, RAA or FCTE?

On 1-year performance, RAA leads with 17.36% vs 14.32% for FCTE. Both ETFs have the same 0.85% expense ratio. On volatility, RAA has been the lower-risk option at 2.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RAA or FCTE?

Over the 1-year period, RAA has performed better with a 17.36% return vs 14.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RAA or FCTE?

RAA and FCTE have the same expense ratio: 0.85% per year.

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

RAA has the higher dividend yield at 2.13%, compared with 0.08% for FCTE.

What is the main difference between RAA and FCTE?

RAA is categorized as Diversified Portfolio, while FCTE is Large Cap Blend Equities.

Which has better risk-adjusted returns?

RAA currently has the higher Sharpe Ratio (1.67 vs 0.94), 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.