RAVI vs. FLRN
RAVI (FlexShares Ultra-Short Income ETF) and FLRN (SPDR Bloomberg Barclays Investment Grade Floating Rate ETF) are both exchange-traded funds - RAVI is a Ultrashort Bond fund actively managed by FlexShares, while FLRN is a Corporate Bonds fund tracking the Bloomberg US Floating Rate Notes (<5 Y). RAVI is actively managed, while FLRN is passively managed. Over the past 10 years, RAVI returned 2.68%/yr vs 3.03%/yr for FLRN. At a 0.06 correlation, their price movements are largely independent. RAVI charges 0.25%/yr vs 0.15%/yr for FLRN.
Performance
RAVI vs. FLRN - Performance Comparison
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Returns By Period
In the year-to-date period, RAVI achieves a 1.66% return, which is significantly lower than FLRN's 1.93% return. Over the past 10 years, RAVI has underperformed FLRN with an annualized return of 2.68%, while FLRN has yielded a comparatively higher 3.03% annualized return.
RAVI
- 1D
- 0.07%
- 1M
- 0.40%
- YTD
- 1.66%
- 6M
- 1.94%
- 1Y
- 4.50%
- 3Y*
- 5.20%
- 5Y*
- 3.52%
- 10Y*
- 2.68%
FLRN
- 1D
- 0.00%
- 1M
- 0.38%
- YTD
- 1.93%
- 6M
- 2.15%
- 1Y
- 4.81%
- 3Y*
- 5.60%
- 5Y*
- 4.20%
- 10Y*
- 3.03%
RAVI vs. FLRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RAVI FlexShares Ultra-Short Income ETF | 1.66% | 4.98% | 5.67% | 5.55% | 0.15% | -0.04% | 2.06% | 3.49% | 1.65% | 1.22% |
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 1.93% | 5.01% | 6.32% | 6.54% | 1.31% | 0.39% | 0.77% | 4.02% | 1.39% | 1.81% |
Correlation
The correlation between RAVI and FLRN is 0.02, 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 | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.06 |
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Return for Risk
RAVI vs. FLRN — Risk / Return Rank
RAVI
FLRN
RAVI vs. FLRN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Ultra-Short Income ETF (RAVI) and SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN). 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.
| RAVI | FLRN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.16 | ||
| Sortino ratioReturn per unit of downside risk | +12.52 | ||
| Omega ratioGain probability vs. loss probability | 5.64 | 3.33 | +2.32 |
| Calmar ratioReturn relative to maximum drawdown | 38.65 | 21.24 | +17.42 |
| Martin ratioReturn relative to average drawdown | 231.44 | 127.12 | +104.32 |
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Drawdowns
RAVI vs. FLRN - Drawdown Comparison
The maximum RAVI drawdown since its inception was -3.72%, smaller than the maximum FLRN drawdown of -14.64%. Use the drawdown chart below to compare losses from any high point for RAVI and FLRN.
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Drawdown Indicators
| RAVI | FLRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.72% | -14.64% | +10.92% |
Max Drawdown (1Y)Largest decline over 1 year | -0.12% | -0.23% | +0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -0.36% | -1.43% | +1.07% |
Max Drawdown (5Y)Largest decline over 5 years | -3.28% | -2.16% | -1.12% |
Max Drawdown (10Y)Largest decline over 10 years | -3.72% | -14.64% | +10.92% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.17% | -1.82% | +1.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.04% | -0.02% |
Volatility
RAVI vs. FLRN - Volatility Comparison
The current volatility for FlexShares Ultra-Short Income ETF (RAVI) is 0.10%, while SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) has a volatility of 0.16%. This indicates that RAVI experiences smaller price fluctuations and is considered to be less risky than FLRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RAVI | FLRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.10% | 0.16% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 0.30% | 0.53% | -0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.40% | 0.69% | -0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.41% | 1.69% | -0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.28% | 4.20% | -2.92% |
RAVI vs. FLRN - Expense Ratio Comparison
RAVI has a 0.25% expense ratio, which is higher than FLRN's 0.15% 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. FLRN - Dividend Comparison
RAVI's dividend yield for the trailing twelve months is around 4.38%, less than FLRN's 4.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 4.50% | 4.89% | 5.67% | 5.68% | 1.95% | 0.39% | 1.22% | 2.76% | 2.39% | 1.64% | 1.06% | 0.63% |
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% | 0.00% |
Frequently Asked Questions
RAVI and FLRN have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLRN has higher volatility (0.16%) compared to RAVI (0.10%). In terms of maximum drawdown, RAVI dropped -3.72% vs FLRN's -14.64%.
On 10-year performance, FLRN leads with 3.03% vs 2.68% for RAVI. On fees, FLRN is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FLRN has performed better with a 3.03% return vs 2.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLRN is cheaper with a 0.15% expense ratio, compared with 0.25% for RAVI.
FLRN has the higher dividend yield at 4.50%, compared with 4.38% for RAVI.
RAVI is categorized as Ultrashort Bond, while FLRN is Corporate Bonds. They also come from different issuers: FlexShares and State Street. Their fees differ too: 0.25% for RAVI and 0.15% for FLRN.
RAVI currently has the higher Sharpe Ratio (11.19 vs 7.03), 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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