RAA vs. RAAX

Last updated Aug 2, 2026

RAA (SMI 3Fourteen REAL Asset Allocation ETF) and RAAX (VanEck Inflation Allocation ETF) are both Diversified Portfolio funds. Both are actively managed. Over the past year, RAA returned 17.11% vs 27.41% for RAAX. Their 0.56 correlation means they have sometimes moved together and sometimes differently. RAA charges 0.85%/yr vs 0.89%/yr for RAAX.

Performance

RAA vs. RAAX - Performance Comparison

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

Returns By Period

In the year-to-date period, RAA achieves a 7.64% return, which is significantly lower than RAAX's 12.97% return.

RAA

• 1D: 0.00%
• 1M: 0.27%
• 6M: 4.74%
• YTD: 7.64%
• 1Y: 17.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.97%

RAAX

• 1D: -0.08%
• 1M: 0.23%
• 6M: 2.36%
• YTD: 12.97%
• 1Y: 27.41%
• 3Y*: 17.65%
• 5Y*: 12.74%
• 10Y*: —
• ALL TIME*: 8.80%

*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)
RAA SMI 3Fourteen REAL Asset Allocation ETF	$1.35M	$1.42M	$1.60M
RAAX VanEck Inflation Allocation ETF	$10.97M	$11.14M	$11.05M

RAA vs. RAAX - Yearly Performance Comparison

	2026 (YTD)	2025
RAA SMI 3Fourteen REAL Asset Allocation ETF	7.64%	11.92%
RAAX VanEck Inflation Allocation ETF	12.97%	20.91%

Correlation

The correlation between RAA and RAAX is 0.57, 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.	0.57
Correlation (All Time) Calculated using the full available price history since Feb 26, 2025	0.56

The correlation between RAA and RAAX has been stable across timeframes, ranging from 0.56 to 0.57 - a consistent structural relationship.

Return for Risk

RAA vs. RAAX — Risk / Return Rank

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

RAA

RAA Risk / Return Rank: 68
RAA Sharpe Ratio Rank: 68
RAA Sortino Ratio Rank: 65
RAA Omega Ratio Rank: 65
RAA Calmar Ratio Rank: 77
RAA Martin Ratio Rank: 67

RAAX

RAAX Risk / Return Rank: 77
RAAX Sharpe Ratio Rank: 79
RAAX Sortino Ratio Rank: 76
RAAX Omega Ratio Rank: 78
RAAX Calmar Ratio Rank: 82
RAAX Martin Ratio Rank: 69

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. RAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SMI 3Fourteen REAL Asset Allocation ETF (RAA) and VanEck Inflation Allocation ETF (RAAX). 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	RAAX	Difference
Sharpe ratio: Return per unit of total volatility	1.55	1.81	-0.26
Sortino ratio: Return per unit of downside risk	2.14	2.44	-0.29
Omega ratio: Gain probability vs. loss probability	1.28	1.32	-0.05
Calmar ratio: Return relative to maximum drawdown	2.74	2.99	-0.24
Martin ratio: Return relative to average drawdown	8.21	8.38	-0.18

RAA vs. RAAX - Sharpe Ratio Comparison

The current RAA Sharpe Ratio is 1.55, which is comparable to the RAAX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of RAA and RAAX, 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. RAAX - Drawdown Comparison

The maximum RAA drawdown since its inception was -11.96%, smaller than the maximum RAAX drawdown of -33.91%. Use the drawdown chart below to compare losses from any high point for RAA and RAAX.

Drawdown Indicators

	RAA	RAAX	Difference
Max Drawdown Largest peak-to-trough decline	-11.96%	-33.91%	+21.95%
Max Drawdown (1Y) Largest decline over 1 year	-5.91%	-9.06%	+3.15%
Max Drawdown (3Y) Largest decline over 3 years	—	-11.59%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-23.55%	—
Current Drawdown Current decline from peak	-3.46%	-7.59%	+4.13%
Average Drawdown Average peak-to-trough decline	-1.64%	-6.78%	+5.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	3.22%	-1.25%

Volatility

RAA vs. RAAX - Volatility Comparison

The current volatility for SMI 3Fourteen REAL Asset Allocation ETF (RAA) is 2.57%, while VanEck Inflation Allocation ETF (RAAX) has a volatility of 4.17%. This indicates that RAA experiences smaller price fluctuations and is considered to be less risky than RAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RAA	RAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.57%	4.17%	-1.60%
Volatility (6M) Calculated over the trailing 6-month period	8.37%	12.52%	-4.15%
Volatility (1Y) Calculated over the trailing 1-year period	10.47%	14.97%	-4.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.64%	15.70%	-3.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.64%	15.79%	-3.15%

RAA vs. RAAX - Expense Ratio Comparison

RAA has a 0.85% expense ratio, which is lower than RAAX's 0.89% expense ratio.

Dividends

RAA vs. RAAX - Dividend Comparison

RAA's dividend yield for the trailing twelve months is around 2.13%, more than RAAX's 2.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
RAA SMI 3Fourteen REAL Asset Allocation ETF	2.13%	2.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RAAX VanEck Inflation Allocation ETF	2.07%	2.34%	1.91%	3.66%	1.53%	8.72%	6.27%	2.37%	0.56%

Frequently Asked Questions

Can I hold both RAA and RAAX in my portfolio?

RAA and RAAX have a correlation of 0.57, 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 RAAX?

RAAX has higher volatility (4.17%) compared to RAA (2.57%). In terms of maximum drawdown, RAA dropped -11.96% vs RAAX's -33.91%.

Which ETF is better, RAA or RAAX?

On 1-year performance, RAAX leads with 27.41% vs 17.11% for RAA. On fees, RAA is cheaper at 0.85% per year. On volatility, RAA has been the lower-risk option at 2.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RAA or RAAX?

Over the 1-year period, RAAX has performed better with a 27.41% return vs 17.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RAA or RAAX?

RAA is cheaper with a 0.85% expense ratio, compared with 0.89% for RAAX.

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

RAA has the higher dividend yield at 2.13%, compared with 2.07% for RAAX.

What is the main difference between RAA and RAAX?

They also come from different issuers: SMI 3Fourteen and VanEck. Their fees differ too: 0.85% for RAA and 0.89% for RAAX.

Which has better risk-adjusted returns?

RAAX currently has the higher Sharpe Ratio (1.81 vs 1.55), 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.