RAVI vs. SPTU

Last updated Jun 24, 2026

RAVI (FlexShares Ultra-Short Income ETF) and SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) are both Ultrashort Bond funds. RAVI is actively managed, while SPTU is passively managed. At a 0.12 correlation, their price movements are largely independent. RAVI charges 0.25%/yr vs 0.05%/yr for SPTU.

Performance

RAVI vs. SPTU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares Ultra-Short Income ETF (RAVI) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with RAVI having a 1.69% return and SPTU slightly lower at 1.66%.

RAVI

• 1D: 0.05%
• 1M: 0.30%
• YTD: 1.69%
• 6M: 1.79%
• 1Y: 4.37%
• 3Y*: 5.17%
• 5Y*: 3.54%
• 10Y*: 2.67%

SPTU

• 1D: 0.03%
• 1M: 0.29%
• YTD: 1.66%
• 6M: 1.74%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RAVI vs. SPTU - Yearly Performance Comparison

	2026 (YTD)	2025
RAVI FlexShares Ultra-Short Income ETF	1.69%	1.06%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	1.66%	0.87%

Correlation

The correlation between RAVI and SPTU is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 8, 2025	0.12

Return for Risk

RAVI vs. SPTU — 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: 99
RAVI Sortino Ratio Rank: 99
RAVI Omega Ratio Rank: 99
RAVI Calmar Ratio Rank: 99
RAVI Martin Ratio Rank: 99

SPTU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. SPTU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares Ultra-Short Income ETF (RAVI) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). 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	SPTU	Difference
Sharpe ratio: Return per unit of total volatility	10.73	—	—
Sortino ratio: Return per unit of downside risk	23.47	—	—
Omega ratio: Gain probability vs. loss probability	5.23	—	—
Calmar ratio: Return relative to maximum drawdown	37.51	—	—
Martin ratio: Return relative to average drawdown	214.85	—	—

Drawdowns

RAVI vs. SPTU - Drawdown Comparison

The maximum RAVI drawdown since its inception was -3.72%, which is greater than SPTU's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for RAVI and SPTU.

Drawdown Indicators

	RAVI	SPTU	Difference
Max Drawdown Largest peak-to-trough decline	-3.72%	-0.04%	-3.68%
Max Drawdown (1Y) Largest decline over 1 year	-0.12%	—	—
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%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.17%	-0.00%	-0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	—	—

Volatility

Volatility by Period

	RAVI	SPTU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.13%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.31%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.41%	0.33%	+0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.41%	0.33%	+1.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.28%	0.33%	+0.95%

RAVI vs. SPTU - Expense Ratio Comparison

RAVI has a 0.25% expense ratio, which is higher than SPTU's 0.05% 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. SPTU - Dividend Comparison

RAVI's dividend yield for the trailing twelve months is around 4.37%, more than SPTU's 2.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
RAVI FlexShares Ultra-Short Income ETF	4.37%	4.59%	5.34%	4.55%	1.70%	0.90%	1.29%	2.53%	2.22%	1.28%	0.90%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	2.36%	0.89%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RAVI and SPTU in my portfolio?

RAVI and SPTU have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RAVI or SPTU?

On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RAVI or SPTU?

SPTU is cheaper with a 0.05% expense ratio, compared with 0.25% for RAVI.

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

RAVI has the higher dividend yield at 4.37%, compared with 2.36% for SPTU.

What is the main difference between RAVI and SPTU?

They also come from different issuers: FlexShares and State Street. Their fees differ too: 0.25% for RAVI and 0.05% for SPTU.