RAA vs. RULE

Last updated Apr 2, 2026

Compare and contrast key facts about SMI 3Fourteen REAL Asset Allocation ETF (RAA) and Adaptive Core ETF (RULE).

RAA and RULE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. RAA is an actively managed fund by SMI Advisory Services. It was launched on Feb 26, 2025. RULE is an actively managed fund by Mohr Funds. It was launched on Nov 2, 2021.

Performance

RAA vs. RULE - Performance Comparison

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

RAA vs. RULE - Yearly Performance Comparison

	2026 (YTD)	2025
RAA SMI 3Fourteen REAL Asset Allocation ETF	1.17%	12.12%
RULE Adaptive Core ETF	5.57%	4.72%

Returns By Period

In the year-to-date period, RAA achieves a 1.17% return, which is significantly lower than RULE's 5.57% return.

RAA

• 1D: 0.54%
• 1M: -3.48%
• YTD: 1.17%
• 6M: 3.28%
• 1Y: 17.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RULE

• 1D: 2.49%
• 1M: -6.00%
• YTD: 5.57%
• 6M: 5.32%
• 1Y: 16.97%
• 3Y*: 8.29%
• 5Y*: —
• 10Y*: —

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

RAA vs. RULE - Expense Ratio Comparison

RAA has a 0.85% expense ratio, which is lower than RULE's 1.10% expense ratio.

RULE

Adaptive Core ETF

RAA

SMI 3Fourteen REAL Asset Allocation ETF

Return for Risk

RAA vs. RULE — Risk / Return Rank

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

RAA

RAA Risk / Return Rank: 73
RAA Sharpe Ratio Rank: 73
RAA Sortino Ratio Rank: 74
RAA Omega Ratio Rank: 74
RAA Calmar Ratio Rank: 67
RAA Martin Ratio Rank: 78

RULE

RULE Risk / Return Rank: 45
RULE Sharpe Ratio Rank: 44
RULE Sortino Ratio Rank: 44
RULE Omega Ratio Rank: 41
RULE Calmar Ratio Rank: 47
RULE Martin Ratio Rank: 49

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. RULE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SMI 3Fourteen REAL Asset Allocation ETF (RAA) and Adaptive Core ETF (RULE). 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.

	RAA	RULE	Difference
Sharpe ratio Return per unit of total volatility	1.37	0.88	+0.49
Sortino ratio Return per unit of downside risk	2.00	1.29	+0.70
Omega ratio Gain probability vs. loss probability	1.30	1.17	+0.12
Calmar ratio Return relative to maximum drawdown	1.96	1.37	+0.58
Martin ratio Return relative to average drawdown	9.55	5.36	+4.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RAA vs. RULE - Sharpe Ratio Comparison

The current RAA Sharpe Ratio is 1.37, which is higher than the RULE Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of RAA and RULE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	RAA	RULE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	0.88	+0.49
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	-0.03	+0.96

Correlation

The correlation between RAA and RULE is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

RAA vs. RULE - Dividend Comparison

RAA's dividend yield for the trailing twelve months is around 2.31%, while RULE has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022
RAA SMI 3Fourteen REAL Asset Allocation ETF	2.31%	2.14%	0.00%	0.00%	0.00%
RULE Adaptive Core ETF	0.00%	0.00%	0.00%	2.01%	0.01%

Drawdowns

RAA vs. RULE - Drawdown Comparison

The maximum RAA drawdown since its inception was -11.80%, smaller than the maximum RULE drawdown of -30.48%. Use the drawdown chart below to compare losses from any high point for RAA and RULE.

Drawdown Indicators

	RAA	RULE	Difference
Max Drawdown Largest peak-to-trough decline	-11.80%	-30.48%	+18.68%
Max Drawdown (1Y) Largest decline over 1 year	-9.17%	-12.65%	+3.48%
Current Drawdown Current decline from peak	-3.66%	-7.15%	+3.49%
Average Drawdown Average peak-to-trough decline	-1.53%	-15.50%	+13.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	3.24%	-1.36%

Volatility

RAA vs. RULE - Volatility Comparison

The current volatility for SMI 3Fourteen REAL Asset Allocation ETF (RAA) is 3.87%, while Adaptive Core ETF (RULE) has a volatility of 8.24%. This indicates that RAA experiences smaller price fluctuations and is considered to be less risky than RULE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RAA	RULE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	8.24%	-4.37%
Volatility (6M) Calculated over the trailing 6-month period	7.92%	15.26%	-7.34%
Volatility (1Y) Calculated over the trailing 1-year period	12.97%	19.40%	-6.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.18%	13.94%	-0.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.18%	13.94%	-0.76%