RAVI vs. FEDM
RAVI (FlexShares Ultra-Short Income ETF) and FEDM (FlexShares ESG & Climate Developed Markets ex-US Core Index Fund) are both exchange-traded funds - RAVI is a Ultrashort Bond fund actively managed by FlexShares, while FEDM is a Foreign Large Cap Equities fund tracking the Northern Trust ESG & Climate Developed Markets ex-US Core Index - Benchmark TR Net. RAVI is actively managed, while FEDM is passively managed. Over the past 3 years, RAVI returned 5.20%/yr vs 14.54%/yr for FEDM. At a 0.19 correlation, their price movements are largely independent. RAVI charges 0.25%/yr vs 0.12%/yr for FEDM.
Performance
RAVI vs. FEDM - Performance Comparison
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Returns By Period
In the year-to-date period, RAVI achieves a 1.52% return, which is significantly lower than FEDM's 6.95% return.
RAVI
- 1D
- -0.00%
- 1M
- 0.35%
- YTD
- 1.52%
- 6M
- 1.92%
- 1Y
- 4.45%
- 3Y*
- 5.20%
- 5Y*
- 3.50%
- 10Y*
- 2.67%
FEDM
- 1D
- 0.86%
- 1M
- 2.92%
- YTD
- 6.95%
- 6M
- 8.83%
- 1Y
- 16.72%
- 3Y*
- 14.54%
- 5Y*
- —
- 10Y*
- —
RAVI vs. FEDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
RAVI FlexShares Ultra-Short Income ETF | 1.52% | 4.98% | 5.67% | 5.55% | 0.15% | -0.37% |
FEDM FlexShares ESG & Climate Developed Markets ex-US Core Index Fund | 6.95% | 26.85% | 2.85% | 17.39% | -15.25% | 1.87% |
Correlation
The correlation between RAVI and FEDM is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021 | 0.19 |
The correlation between RAVI and FEDM shifts across timeframes, from 0.09 (1 year) to 0.21 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
RAVI vs. FEDM — Risk / Return Rank
RAVI
FEDM
RAVI vs. FEDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Ultra-Short Income ETF (RAVI) and FlexShares ESG & Climate Developed Markets ex-US Core Index Fund (FEDM). 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.
| RAVI | FEDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +9.86 | ||
| Sortino ratioReturn per unit of downside risk | +21.85 | ||
| Omega ratioGain probability vs. loss probability | 5.33 | 1.20 | +4.13 |
| Calmar ratioReturn relative to maximum drawdown | 38.26 | 1.41 | +36.85 |
| Martin ratioReturn relative to average drawdown | 229.11 | 5.07 | +224.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RAVI | FEDM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 10.91 | 1.04 | +9.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.49 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 2.09 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.03 | 0.47 | +1.56 |
Drawdowns
RAVI vs. FEDM - Drawdown Comparison
The maximum RAVI drawdown since its inception was -3.72%, smaller than the maximum FEDM drawdown of -29.37%. Use the drawdown chart below to compare losses from any high point for RAVI and FEDM.
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Drawdown Indicators
| RAVI | FEDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.72% | -29.37% | +25.65% |
Max Drawdown (1Y)Largest decline over 1 year | -0.12% | -11.92% | +11.80% |
Max Drawdown (3Y)Largest decline over 3 years | -0.36% | -14.24% | +13.88% |
Max Drawdown (5Y)Largest decline over 5 years | -3.28% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -3.72% | — | — |
Current DrawdownCurrent decline from peak | -0.00% | -1.16% | +1.16% |
Average DrawdownAverage peak-to-trough decline | -0.17% | -6.99% | +6.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 3.30% | -3.28% |
Volatility
RAVI vs. FEDM - Volatility Comparison
The current volatility for FlexShares Ultra-Short Income ETF (RAVI) is 0.15%, while FlexShares ESG & Climate Developed Markets ex-US Core Index Fund (FEDM) has a volatility of 4.71%. This indicates that RAVI experiences smaller price fluctuations and is considered to be less risky than FEDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RAVI | FEDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 4.71% | -4.56% |
Volatility (6M)Calculated over the trailing 6-month period | 0.30% | 12.47% | -12.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.41% | 16.14% | -15.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.41% | 16.46% | -15.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.28% | 16.46% | -15.18% |
RAVI vs. FEDM - Expense Ratio Comparison
RAVI has a 0.25% expense ratio, which is higher than FEDM's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
RAVI vs. FEDM - Dividend Comparison
RAVI's dividend yield for the trailing twelve months is around 4.38%, more than FEDM's 2.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FEDM FlexShares ESG & Climate Developed Markets ex-US Core Index Fund | 2.80% | 2.97% | 2.94% | 2.61% | 2.53% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RAVI FlexShares Ultra-Short Income ETF | 4.38% | 4.59% | 5.34% | 4.55% | 1.70% | 0.90% | 1.29% | 2.53% | 2.22% | 1.28% | 0.90% |
Frequently Asked Questions
RAVI and FEDM have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FEDM has higher volatility (4.71%) compared to RAVI (0.15%). In terms of maximum drawdown, RAVI dropped -3.72% vs FEDM's -29.37%.
On 3-year performance, FEDM leads with 14.54% vs 5.20% for RAVI. On fees, FEDM is cheaper at 0.12% per year. On volatility, RAVI has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FEDM has performed better with a 14.54% return vs 5.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FEDM is cheaper with a 0.12% expense ratio, compared with 0.25% for RAVI.
RAVI has the higher dividend yield at 4.38%, compared with 2.80% for FEDM.
RAVI is categorized as Ultrashort Bond, while FEDM is Foreign Large Cap Equities. Their fees differ too: 0.25% for RAVI and 0.12% for FEDM.
RAVI currently has the higher Sharpe Ratio (10.90 vs 1.04), 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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