RAAX vs. RAA

Last updated Aug 5, 2026

RAAX (VanEck Inflation Allocation ETF) and RAA (SMI 3Fourteen REAL Asset Allocation ETF) are both Diversified Portfolio funds. Both are actively managed. Over the past year, RAAX returned 27.13% vs 17.42% for RAA. Their 0.56 correlation means they have sometimes moved together and sometimes differently. RAAX charges 0.89%/yr vs 0.85%/yr for RAA.

Performance

RAAX vs. RAA - Performance Comparison

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

Returns By Period

In the year-to-date period, RAAX achieves a 13.54% return, which is significantly higher than RAA's 9.10% return.

RAAX

• 1D: 0.58%
• 1M: 0.74%
• 6M: 1.82%
• YTD: 13.54%
• 1Y: 27.13%
• 3Y*: 18.21%
• 5Y*: 13.05%
• 10Y*: —
• ALL TIME*: 8.86%

RAA

• 1D: 1.14%
• 1M: 1.64%
• 6M: 6.09%
• YTD: 9.10%
• 1Y: 17.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.94%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RAA SMI 3Fourteen REAL Asset Allocation ETF	$1.34M	$1.40M	$1.58M
RAAX VanEck Inflation Allocation ETF	$11.21M	$11.22M	$11.14M

RAAX vs. RAA - Yearly Performance Comparison

	2026 (YTD)	2025
RAAX VanEck Inflation Allocation ETF	13.54%	20.91%
RAA SMI 3Fourteen REAL Asset Allocation ETF	9.10%	11.92%

Correlation

The correlation between RAAX and RAA is 0.56, 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.	0.56
Correlation (All Time) Calculated using the full available price history since Feb 26, 2025	0.56

The correlation between RAAX and RAA has been stable across timeframes, ranging from 0.56 to 0.56 - a consistent structural relationship.

Return for Risk

RAAX vs. RAA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RAAX

RAAX Risk / Return Rank: 69
RAAX Sharpe Ratio Rank: 70
RAAX Sortino Ratio Rank: 66
RAAX Omega Ratio Rank: 69
RAAX Calmar Ratio Rank: 76
RAAX Martin Ratio Rank: 62

RAA

RAA Risk / Return Rank: 65
RAA Sharpe Ratio Rank: 63
RAA Sortino Ratio Rank: 60
RAA Omega Ratio Rank: 61
RAA Calmar Ratio Rank: 75
RAA Martin Ratio Rank: 65

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RAAX vs. RAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Inflation Allocation ETF (RAAX) and SMI 3Fourteen REAL Asset Allocation ETF (RAA). 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	RAA	Difference
Sharpe ratio: Return per unit of total volatility	1.82	1.68	+0.15
Sortino ratio: Return per unit of downside risk	2.45	2.31	+0.14
Omega ratio: Gain probability vs. loss probability	1.33	1.30	+0.03
Calmar ratio: Return relative to maximum drawdown	3.01	2.96	+0.05
Martin ratio: Return relative to average drawdown	8.26	8.79	-0.52

RAAX vs. RAA - Sharpe Ratio Comparison

The current RAAX Sharpe Ratio is 1.82, which is comparable to the RAA Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of RAAX and RAA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RAAX vs. RAA - Drawdown Comparison

The maximum RAAX drawdown since its inception was -33.91%, which is greater than RAA's maximum drawdown of -11.96%. Use the drawdown chart below to compare losses from any high point for RAAX and RAA.

Drawdown Indicators

	RAAX	RAA	Difference
Max Drawdown Largest peak-to-trough decline	-33.91%	-11.96%	-21.95%
Max Drawdown (1Y) Largest decline over 1 year	-9.06%	-5.91%	-3.15%
Max Drawdown (3Y) Largest decline over 3 years	-11.59%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.55%	—	—
Current Drawdown Current decline from peak	-7.12%	-2.14%	-4.98%
Average Drawdown Average peak-to-trough decline	-6.78%	-1.65%	-5.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.29%	1.99%	+1.30%

Volatility

RAAX vs. RAA - Volatility Comparison

VanEck Inflation Allocation ETF (RAAX) has a higher volatility of 4.16% compared to SMI 3Fourteen REAL Asset Allocation ETF (RAA) at 2.71%. This indicates that RAAX's price experiences larger fluctuations and is considered to be riskier than RAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RAAX	RAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	2.71%	+1.45%
Volatility (6M) Calculated over the trailing 6-month period	11.56%	8.19%	+3.37%
Volatility (1Y) Calculated over the trailing 1-year period	14.96%	10.48%	+4.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.69%	12.63%	+3.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.79%	12.63%	+3.16%

RAAX vs. RAA - Expense Ratio Comparison

RAAX has a 0.89% expense ratio, which is higher than RAA's 0.85% expense ratio.

Dividends

RAAX vs. RAA - Dividend Comparison

RAAX's dividend yield for the trailing twelve months is around 2.06%, less than RAA's 2.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
RAA SMI 3Fourteen REAL Asset Allocation ETF	2.10%	2.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RAAX VanEck Inflation Allocation ETF	2.06%	2.34%	1.91%	3.66%	1.53%	8.72%	6.27%	2.37%	0.56%

Frequently Asked Questions

Can I hold both RAAX and RAA in my portfolio?

RAAX and RAA have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RAAX or RAA?

RAAX has higher volatility (4.16%) compared to RAA (2.71%). In terms of maximum drawdown, RAAX dropped -33.91% vs RAA's -11.96%.

Which ETF is better, RAAX or RAA?

On 1-year performance, RAAX leads with 27.13% vs 17.42% for RAA. On fees, RAA is cheaper at 0.85% per year. On volatility, RAA has been the lower-risk option at 2.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RAAX or RAA?

Over the 1-year period, RAAX has performed better with a 27.13% return vs 17.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RAAX or RAA?

RAA is cheaper with a 0.85% expense ratio, compared with 0.89% for RAAX.

Which ETF pays a higher dividend yield, RAAX or RAA?

RAA has the higher dividend yield at 2.10%, compared with 2.06% for RAAX.

What is the main difference between RAAX and RAA?

They also come from different issuers: VanEck and SMI 3Fourteen. Their fees differ too: 0.89% for RAAX and 0.85% for RAA.

Which has better risk-adjusted returns?

RAAX currently has the higher Sharpe Ratio (1.82 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.