RAVI vs. LBO

Last updated Jul 17, 2026

RAVI (FlexShares Ultra-Short Income ETF) and LBO (WHITEWOLF Publicly Listed Private Equity ETF) are both exchange-traded funds - RAVI is a Ultrashort Bond fund actively managed by FlexShares, while LBO is a Financials Equities fund actively managed by White Wolf. Both are actively managed. Over the past year, RAVI returned 4.37% vs -16.42% for LBO. At a 0.06 correlation, their price movements are largely independent. RAVI charges 0.25%/yr vs 0.70%/yr for LBO.

Performance

RAVI vs. LBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares Ultra-Short Income ETF (RAVI) and WHITEWOLF Publicly Listed Private Equity ETF (LBO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RAVI achieves a 2.02% return, which is significantly higher than LBO's -9.50% return.

RAVI

• 1D: 0.02%
• 1M: 0.40%
• 6M: 1.90%
• YTD: 2.02%
• 1Y: 4.37%
• 3Y*: 5.14%
• 5Y*: 3.60%
• 10Y*: 2.70%

LBO

• 1D: 1.01%
• 1M: 0.14%
• 6M: -13.08%
• YTD: -9.50%
• 1Y: -16.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RAVI vs. LBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
RAVI FlexShares Ultra-Short Income ETF	2.02%	4.98%	5.67%	0.60%
LBO WHITEWOLF Publicly Listed Private Equity ETF	-9.50%	-6.41%	30.93%	7.39%

Correlation

The correlation between RAVI and LBO is -0.04, 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	-0.04
Correlation (All Time) Calculated using the full available price history since Nov 30, 2023	0.06

Return for Risk

RAVI vs. LBO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RAVI

RAVI Risk / Return Rank: 99
RAVI Sharpe Ratio Rank: 100
RAVI Sortino Ratio Rank: 99
RAVI Omega Ratio Rank: 99
RAVI Calmar Ratio Rank: 99
RAVI Martin Ratio Rank: 99

LBO

LBO Risk / Return Rank: 4
LBO Sharpe Ratio Rank: 3
LBO Sortino Ratio Rank: 4
LBO Omega Ratio Rank: 4
LBO Calmar Ratio Rank: 5
LBO Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

RAVI vs. LBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares Ultra-Short Income ETF (RAVI) and WHITEWOLF Publicly Listed Private Equity ETF (LBO). 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	LBO	Difference
Sharpe ratio: Return per unit of total volatility	10.72	-0.75	+11.47
Sortino ratio: Return per unit of downside risk	23.28	-0.94	+24.22
Omega ratio: Gain probability vs. loss probability	5.21	0.89	+4.32
Calmar ratio: Return relative to maximum drawdown	37.55	-0.56	+38.11
Martin ratio: Return relative to average drawdown	214.47	-1.04	+215.50

RAVI vs. LBO - Sharpe Ratio Comparison

The current RAVI Sharpe Ratio is 10.72, which is higher than the LBO Sharpe Ratio of -0.75. The chart below compares the historical Sharpe Ratios of RAVI and LBO, 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

RAVI vs. LBO - Drawdown Comparison

The maximum RAVI drawdown since its inception was -3.72%, smaller than the maximum LBO drawdown of -31.40%. Use the drawdown chart below to compare losses from any high point for RAVI and LBO.

Drawdown Indicators

	RAVI	LBO	Difference
Max Drawdown Largest peak-to-trough decline	-3.72%	-31.40%	+27.68%
Max Drawdown (1Y) Largest decline over 1 year	-0.12%	-29.19%	+29.07%
Max Drawdown (3Y) Largest decline over 3 years	-0.36%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-3.28%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-3.72%	—	—
Current Drawdown Current decline from peak	0.00%	-20.44%	+20.44%
Average Drawdown Average peak-to-trough decline	-0.17%	-8.99%	+8.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	15.89%	-15.87%

Volatility

RAVI vs. LBO - Volatility Comparison

The current volatility for FlexShares Ultra-Short Income ETF (RAVI) is 0.13%, while WHITEWOLF Publicly Listed Private Equity ETF (LBO) has a volatility of 5.57%. This indicates that RAVI experiences smaller price fluctuations and is considered to be less risky than LBO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RAVI	LBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.13%	5.57%	-5.44%
Volatility (6M) Calculated over the trailing 6-month period	0.31%	18.36%	-18.05%
Volatility (1Y) Calculated over the trailing 1-year period	0.41%	22.22%	-21.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.41%	21.16%	-19.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.28%	21.16%	-19.88%

RAVI vs. LBO - Expense Ratio Comparison

RAVI has a 0.25% expense ratio, which is lower than LBO's 0.70% expense ratio.

Dividends

RAVI vs. LBO - Dividend Comparison

RAVI's dividend yield for the trailing twelve months is around 4.33%, less than LBO's 6.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
LBO WHITEWOLF Publicly Listed Private Equity ETF	6.57%	7.04%	5.79%	1.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RAVI FlexShares Ultra-Short Income ETF	4.33%	4.59%	5.34%	4.55%	1.70%	0.90%	1.29%	2.53%	2.22%	1.28%	0.90%

Frequently Asked Questions

Can I hold both RAVI and LBO in my portfolio?

RAVI and LBO have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RAVI or LBO?

LBO has higher volatility (5.57%) compared to RAVI (0.13%). In terms of maximum drawdown, RAVI dropped -3.72% vs LBO's -31.40%.

Which ETF is better, RAVI or LBO?

On 1-year performance, RAVI leads with 4.37% vs -16.42% for LBO. On fees, RAVI is cheaper at 0.25% per year. On volatility, RAVI has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RAVI or LBO?

Over the 1-year period, RAVI has performed better with a 4.37% return vs -16.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RAVI or LBO?

RAVI is cheaper with a 0.25% expense ratio, compared with 0.70% for LBO.

Which ETF pays a higher dividend yield, RAVI or LBO?

LBO has the higher dividend yield at 6.57%, compared with 4.33% for RAVI.

What is the main difference between RAVI and LBO?

RAVI is categorized as Ultrashort Bond, while LBO is Financials Equities. They also come from different issuers: FlexShares and White Wolf. Their fees differ too: 0.25% for RAVI and 0.70% for LBO.

Which has better risk-adjusted returns?

RAVI currently has the higher Sharpe Ratio (10.72 vs -0.75), 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.