RAAX vs. PPI
RAAX (VanEck Inflation Allocation ETF) and PPI (Astoria Real Assets ETF) are both exchange-traded funds - RAAX is a Diversified Portfolio fund actively managed by VanEck, while PPI is a Global Allocation fund actively managed by AXS. Both are actively managed. Over the past 3 years, RAAX returned 17.98%/yr vs 18.72%/yr for PPI. Their 0.76 correlation means they have sometimes moved together and sometimes differently. RAAX charges 0.89%/yr vs 0.58%/yr for PPI.
Performance
RAAX vs. PPI - Performance Comparison
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Returns By Period
In the year-to-date period, RAAX achieves a 12.88% return, which is significantly lower than PPI's 15.24% return.
RAAX
- 1D
- -0.08%
- 1M
- 0.15%
- 6M
- 4.64%
- YTD
- 12.88%
- 1Y
- 27.31%
- 3Y*
- 17.98%
- 5Y*
- 13.01%
- 10Y*
- —
- ALL TIME*
- 8.78%
PPI
- 1D
- 0.61%
- 1M
- 1.03%
- 6M
- 9.02%
- YTD
- 15.24%
- 1Y
- 27.92%
- 3Y*
- 18.72%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.31%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $736.15K | $632.16K | $647.65K | |
| $11.11M | $11.19M | $11.13M |
RAAX vs. PPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
RAAX VanEck Inflation Allocation ETF | 12.88% | 26.74% | 12.50% | 6.71% | 1.51% | 0.22% |
PPI Astoria Real Assets ETF | 15.24% | 30.05% | 6.43% | 11.33% | 4.04% | 0.03% |
Correlation
The correlation between RAAX and PPI is 0.71, 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. | 0.71 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (All Time) Calculated using the full available price history since Dec 30, 2021 | 0.76 |
The correlation between RAAX and PPI has been stable across timeframes, ranging from 0.69 to 0.76 - a consistent structural relationship.
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Return for Risk
RAAX vs. PPI — Risk / Return Rank
RAAX
PPI
RAAX vs. PPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Inflation Allocation ETF (RAAX) and Astoria Real Assets ETF (PPI). 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 | PPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.29 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | 3.52 | -0.49 |
| Martin ratioReturn relative to average drawdown | 8.40 | 8.81 | -0.42 |
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Drawdowns
RAAX vs. PPI - Drawdown Comparison
The maximum RAAX drawdown since its inception was -33.91%, which is greater than PPI's maximum drawdown of -24.54%. Use the drawdown chart below to compare losses from any high point for RAAX and PPI.
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Drawdown Indicators
| RAAX | PPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.91% | -24.54% | -9.37% |
Max Drawdown (1Y)Largest decline over 1 year | -9.06% | -7.98% | -1.08% |
Max Drawdown (3Y)Largest decline over 3 years | -11.59% | -20.70% | +9.11% |
Max Drawdown (5Y)Largest decline over 5 years | -23.55% | — | — |
Current DrawdownCurrent decline from peak | -7.66% | -4.32% | -3.34% |
Average DrawdownAverage peak-to-trough decline | -6.78% | -6.44% | -0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 3.18% | +0.08% |
Volatility
RAAX vs. PPI - Volatility Comparison
VanEck Inflation Allocation ETF (RAAX) and Astoria Real Assets ETF (PPI) have volatilities of 4.17% and 4.29%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RAAX | PPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.17% | 4.29% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 11.77% | 12.36% | -0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.98% | 16.74% | -1.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.70% | 18.95% | -3.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.79% | 18.95% | -3.16% |
RAAX vs. PPI - Expense Ratio Comparison
RAAX has a 0.89% expense ratio, which is higher than PPI's 0.58% expense ratio.
Dividends
RAAX vs. PPI - Dividend Comparison
RAAX's dividend yield for the trailing twelve months is around 2.07%, more than PPI's 1.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PPI Astoria Real Assets ETF | 1.30% | 1.06% | 0.60% | 2.87% | 2.40% | 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
RAAX and PPI have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PPI has higher volatility (4.29%) compared to RAAX (4.17%). In terms of maximum drawdown, RAAX dropped -33.91% vs PPI's -24.54%.
On 3-year performance, PPI leads with 18.72% vs 17.98% for RAAX. On fees, PPI is cheaper at 0.58% per year. On volatility, RAAX has been the lower-risk option at 4.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PPI has performed better with a 18.72% return vs 17.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PPI is cheaper with a 0.58% expense ratio, compared with 0.89% for RAAX.
RAAX has the higher dividend yield at 2.07%, compared with 1.30% for PPI.
RAAX is categorized as Diversified Portfolio, while PPI is Global Allocation. They also come from different issuers: VanEck and AXS. Their fees differ too: 0.89% for RAAX and 0.58% for PPI.
RAAX currently has the higher Sharpe Ratio (1.83 vs 1.68), 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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