RAAX vs. INFL
RAAX (VanEck Inflation Allocation ETF) and INFL (Horizon Kinetics Inflation Beneficiaries ETF) are both exchange-traded funds - RAAX is a Diversified Portfolio fund actively managed by VanEck, while INFL is a Global Equities fund actively managed by Horizon Kinetics. Both are actively managed. Over the past 5 years, RAAX returned 12.74%/yr vs 12.86%/yr for INFL. Their 0.79 correlation means they have sometimes moved together and sometimes differently. RAAX charges 0.89%/yr vs 0.85%/yr for INFL.
Performance
RAAX vs. INFL - Performance Comparison
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Returns By Period
In the year-to-date period, RAAX achieves a 12.97% return, which is significantly lower than INFL's 15.87% return.
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%
INFL
- 1D
- -0.06%
- 1M
- 3.05%
- 6M
- 5.26%
- YTD
- 15.87%
- 1Y
- 25.84%
- 3Y*
- 18.91%
- 5Y*
- 12.86%
- 10Y*
- —
- ALL TIME*
- 15.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.88M | $5.98M | $13.46M | |
| $10.97M | $11.14M | $11.05M |
RAAX vs. INFL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
RAAX VanEck Inflation Allocation ETF | 12.97% | 26.74% | 12.50% | 6.71% | 1.51% | 17.55% |
INFL Horizon Kinetics Inflation Beneficiaries ETF | 15.87% | 18.30% | 23.34% | 1.62% | 2.65% | 25.22% |
Correlation
The correlation between RAAX and INFL is 0.68, 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. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.70 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2021 | 0.79 |
The correlation between RAAX and INFL shifts across timeframes, from 0.68 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RAAX vs. INFL — Risk / Return Rank
RAAX
INFL
RAAX vs. INFL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Inflation Allocation ETF (RAAX) and Horizon Kinetics Inflation Beneficiaries ETF (INFL). 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.
| RAAX | INFL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.27 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.99 | 2.07 | +0.91 |
| Martin ratioReturn relative to average drawdown | 8.38 | 5.55 | +2.83 |
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Drawdowns
RAAX vs. INFL - Drawdown Comparison
The maximum RAAX drawdown since its inception was -33.91%, which is greater than INFL's maximum drawdown of -21.30%. Use the drawdown chart below to compare losses from any high point for RAAX and INFL.
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Drawdown Indicators
| RAAX | INFL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.91% | -21.30% | -12.61% |
Max Drawdown (1Y)Largest decline over 1 year | -9.06% | -12.20% | +3.14% |
Max Drawdown (3Y)Largest decline over 3 years | -11.59% | -15.56% | +3.97% |
Max Drawdown (5Y)Largest decline over 5 years | -23.55% | -21.30% | -2.25% |
Current DrawdownCurrent decline from peak | -7.59% | -6.59% | -1.00% |
Average DrawdownAverage peak-to-trough decline | -6.78% | -5.20% | -1.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 4.55% | -1.33% |
Volatility
RAAX vs. INFL - Volatility Comparison
VanEck Inflation Allocation ETF (RAAX) has a higher volatility of 4.17% compared to Horizon Kinetics Inflation Beneficiaries ETF (INFL) at 3.06%. This indicates that RAAX's price experiences larger fluctuations and is considered to be riskier than INFL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RAAX | INFL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.17% | 3.06% | +1.11% |
Volatility (6M)Calculated over the trailing 6-month period | 12.52% | 12.71% | -0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.97% | 16.38% | -1.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.70% | 17.74% | -2.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.79% | 17.59% | -1.80% |
RAAX vs. INFL - Expense Ratio Comparison
RAAX has a 0.89% expense ratio, which is higher than INFL's 0.85% expense ratio.
Dividends
RAAX vs. INFL - Dividend Comparison
RAAX's dividend yield for the trailing twelve months is around 2.07%, more than INFL's 0.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
INFL Horizon Kinetics Inflation Beneficiaries ETF | 0.80% | 1.26% | 1.77% | 1.60% | 1.65% | 0.91% | 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
RAAX and INFL have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RAAX has higher volatility (4.17%) compared to INFL (3.06%). In terms of maximum drawdown, RAAX dropped -33.91% vs INFL's -21.30%.
On 5-year performance, INFL leads with 12.86% vs 12.74% for RAAX. On fees, INFL is cheaper at 0.85% per year. On volatility, INFL has been the lower-risk option at 3.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, INFL has performed better with a 12.86% return vs 12.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
INFL is cheaper with a 0.85% expense ratio, compared with 0.89% for RAAX.
RAAX has the higher dividend yield at 2.07%, compared with 0.80% for INFL.
RAAX is categorized as Diversified Portfolio, while INFL is Global Equities. They also come from different issuers: VanEck and Horizon Kinetics. Their fees differ too: 0.89% for RAAX and 0.85% for INFL.
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.
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