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RAAX vs. GPZ
Performance
Return for Risk
Dividends
Drawdowns
Volatility

RAAX vs. GPZ

Last updated Apr 1, 2026

Compare and contrast key facts about VanEck Inflation Allocation ETF (RAAX) and VanEck ETF Trust (GPZ).

RAAX and GPZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. RAAX is an actively managed fund by VanEck. It was launched on Apr 9, 2018. GPZ is a passively managed fund by VanEck that tracks the performance of the MarketVector Alternative Asset Managers Index. It was launched on Jun 4, 2025.

Performance

RAAX vs. GPZ - Performance Comparison

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

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RAAX vs. GPZ - Yearly Performance Comparison

2026 (YTD)2025
RAAX
VanEck Inflation Allocation ETF		16.55%15.42%
GPZ
VanEck ETF Trust		-20.90%9.43%

Returns By Period

In the year-to-date period, RAAX achieves a 16.55% return, which is significantly higher than GPZ's -20.90% return.

RAAX

1D
1.60%
1M
-1.93%
YTD
16.55%
6M
20.84%
1Y
36.86%
3Y*
20.32%
5Y*
14.77%
10Y*
—

GPZ

1D
2.65%
1M
-2.74%
YTD
-20.90%
6M
-21.63%
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

VanEck Inflation Allocation ETF

VanEck ETF Trust

Often compared with RAAX:
RAAX vs. RLYRAAX vs. LCRRAAX vs. XLRERAAX vs. QUALRAAX vs. AOKRAAX vs. INFLRAAX vs. SPY
Often compared with GPZ:
GPZ vs. CEFGPZ vs. PSPGPZ vs. GDLCGPZ vs. REMXGPZ vs. GDXJGPZ vs. IPRV.LGPZ vs. QQQM

RAAX vs. GPZ - Expense Ratio Comparison

RAAX has a 0.78% expense ratio, which is higher than GPZ's 0.40% expense ratio.

RAAX
VanEck Inflation Allocation ETF
GPZ
VanEck ETF Trust

Return for Risk

RAAX vs. GPZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RAAX
RAAX Risk / Return Rank: 9494
Overall Rank
RAAX Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
RAAX Sortino Ratio Rank: 9494
Sortino Ratio Rank
RAAX Omega Ratio Rank: 9494
Omega Ratio Rank
RAAX Calmar Ratio Rank: 9292
Calmar Ratio Rank
RAAX Martin Ratio Rank: 9696
Martin Ratio Rank
GPZ
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.

RAAX vs. GPZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Inflation Allocation ETF (RAAX) and VanEck ETF Trust (GPZ). 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.

RAAXGPZDifference

Sharpe ratio

Return per unit of total volatility

2.25

—

—

Sortino ratio

Return per unit of downside risk

2.88

—

—

Omega ratio

Gain probability vs. loss probability

1.43

—

—

Calmar ratio

Return relative to maximum drawdown

3.27

—

—

Martin ratio

Return relative to average drawdown

16.58

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RAAX vs. GPZ - Sharpe Ratio Comparison

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Sharpe Ratios by Period

RAAXGPZDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.25

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.95

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.61

-0.61

+1.22

Correlation

The correlation between RAAX and GPZ is 0.23, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

RAAX vs. GPZ - Dividend Comparison

RAAX's dividend yield for the trailing twelve months is around 2.01%, more than GPZ's 1.05% yield.

TTM20252024202320222021202020192018
RAAX
VanEck Inflation Allocation ETF		2.01%2.34%1.91%3.66%1.53%8.72%6.27%2.37%0.56%
GPZ
VanEck ETF Trust		1.05%0.83%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

RAAX vs. GPZ - Drawdown Comparison

The maximum RAAX drawdown since its inception was -33.91%, which is greater than GPZ's maximum drawdown of -31.72%. Use the drawdown chart below to compare losses from any high point for RAAX and GPZ.

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Drawdown Indicators

RAAXGPZDifference

Max Drawdown

Largest peak-to-trough decline

-33.91%

-31.72%

-2.19%

Max Drawdown (1Y)

Largest decline over 1 year

-11.59%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-23.55%

—

—

Current Drawdown

Current decline from peak

-3.00%

-27.34%

+24.34%

Average Drawdown

Average peak-to-trough decline

-6.90%

-9.54%

+2.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.29%

—

—

Volatility

RAAX vs. GPZ - Volatility Comparison

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Volatility by Period

RAAXGPZDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.02%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

12.12%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

16.45%

26.76%

-10.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.67%

26.76%

-11.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.86%

26.76%

-10.90%