RAAX vs. NA.TO
RAAX (VanEck Inflation Allocation ETF) is Diversified Portfolio fund actively managed by VanEck, while NA.TO (National Bank of Canada) is a stock. Over the past 5 years, RAAX returned 13.17%/yr vs 19.02%/yr for NA.TO. At a 0.28 correlation, their price movements are largely independent.
Performance
RAAX vs. NA.TO - Performance Comparison
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Different Trading Currencies
RAAX is traded in USD, while NA.TO is traded in CAD. To make them comparable, the NA.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, RAAX achieves a 17.64% return, which is significantly lower than NA.TO's 19.97% return.
RAAX
- 1D
- 2.26%
- 1M
- -3.39%
- YTD
- 17.64%
- 6M
- 17.56%
- 1Y
- 32.08%
- 3Y*
- 21.35%
- 5Y*
- 13.17%
- 10Y*
- —
NA.TO
- 1D
- 0.43%
- 1M
- 0.71%
- YTD
- 19.97%
- 6M
- 21.53%
- 1Y
- 55.42%
- 3Y*
- 31.81%
- 5Y*
- 19.02%
- 10Y*
- 20.45%
RAAX vs. NA.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
RAAX VanEck Inflation Allocation ETF | 17.64% | 26.74% | 12.50% | 6.71% | 1.51% | 21.56% | -8.27% | 6.14% | -2.41% |
NA.TO National Bank of Canada | 19.97% | 42.66% | 24.14% | 18.35% | -7.33% | 39.09% | 6.54% | 39.80% | -9.70% |
Correlation
The correlation between RAAX and NA.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2018 | 0.28 |
The correlation between RAAX and NA.TO shifts across timeframes, from 0.18 (1 year) to 0.32 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
RAAX vs. NA.TO — Risk / Return Rank
RAAX
NA.TO
RAAX vs. NA.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Inflation Allocation ETF (RAAX) and National Bank of Canada (NA.TO). 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 | NA.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.61 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 4.68 | 5.85 | -1.17 |
| Martin ratioReturn relative to average drawdown | 16.90 | 19.65 | -2.75 |
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Drawdowns
RAAX vs. NA.TO - Drawdown Comparison
The maximum RAAX drawdown since its inception was -33.91%, smaller than the maximum NA.TO drawdown of -60.25%. Use the drawdown chart below to compare losses from any high point for RAAX and NA.TO.
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Drawdown Indicators
| RAAX | NA.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.91% | -60.25% | +26.34% |
Max Drawdown (1Y)Largest decline over 1 year | -7.17% | -9.74% | +2.57% |
Max Drawdown (3Y)Largest decline over 3 years | -11.59% | -23.63% | +12.04% |
Max Drawdown (5Y)Largest decline over 5 years | -23.55% | -25.64% | +2.09% |
Max Drawdown (10Y)Largest decline over 10 years | — | -52.59% | — |
Current DrawdownCurrent decline from peak | -3.77% | -2.88% | -0.89% |
Average DrawdownAverage peak-to-trough decline | -6.77% | -9.09% | +2.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 2.89% | -0.91% |
Volatility
RAAX vs. NA.TO - Volatility Comparison
The current volatility for VanEck Inflation Allocation ETF (RAAX) is 4.67%, while National Bank of Canada (NA.TO) has a volatility of 5.98%. This indicates that RAAX experiences smaller price fluctuations and is considered to be less risky than NA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RAAX | NA.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.67% | 5.98% | -1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 12.21% | 14.12% | -1.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.18% | 16.79% | -2.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.70% | 18.83% | -3.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.79% | 22.22% | -6.43% |
Dividends
RAAX vs. NA.TO - Dividend Comparison
RAAX's dividend yield for the trailing twelve months is around 1.99%, less than NA.TO's 2.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NA.TO National Bank of Canada | 2.31% | 2.75% | 3.36% | 4.03% | 4.03% | 3.11% | 3.96% | 3.77% | 4.44% | 3.70% | 4.03% | 5.16% |
RAAX VanEck Inflation Allocation ETF | 1.99% | 2.34% | 1.91% | 3.66% | 1.53% | 8.72% | 6.27% | 2.37% | 0.56% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RAAX and NA.TO have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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