RAVI vs. TILT
RAVI (FlexShares Ultra-Short Income ETF) and TILT (FlexShares Morningstar US Market Factor Tilt Index Fund) are both exchange-traded funds - RAVI is a Ultrashort Bond fund actively managed by FlexShares, while TILT is a Large Cap Blend Equities fund tracking the Morningstar US Market Factor Tilt Index. RAVI is actively managed, while TILT is passively managed. Over the past 10 years, RAVI returned 2.67%/yr vs 14.16%/yr for TILT. At a 0.05 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.
Performance
RAVI vs. TILT - Performance Comparison
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Returns By Period
In the year-to-date period, RAVI achieves a 1.69% return, which is significantly lower than TILT's 9.45% return. Over the past 10 years, RAVI has underperformed TILT with an annualized return of 2.67%, while TILT has yielded a comparatively higher 14.16% annualized return.
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%
TILT
- 1D
- -0.90%
- 1M
- 0.03%
- YTD
- 9.45%
- 6M
- 8.42%
- 1Y
- 25.74%
- 3Y*
- 19.88%
- 5Y*
- 11.30%
- 10Y*
- 14.16%
RAVI vs. TILT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RAVI FlexShares Ultra-Short Income ETF | 1.69% | 4.98% | 5.67% | 5.55% | 0.15% | -0.04% | 2.06% | 3.49% | 1.65% | 1.22% |
TILT FlexShares Morningstar US Market Factor Tilt Index Fund | 9.45% | 16.59% | 19.88% | 24.70% | -17.25% | 27.61% | 16.05% | 29.01% | -8.93% | 18.33% |
Correlation
The correlation between RAVI and TILT is 0.05, 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 | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
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 | 0.05 |
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Return for Risk
RAVI vs. TILT — Risk / Return Rank
RAVI
TILT
RAVI vs. TILT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Ultra-Short Income ETF (RAVI) and FlexShares Morningstar US Market Factor Tilt Index Fund (TILT). 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 | TILT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.69 | ||
| Sortino ratioReturn per unit of downside risk | +20.65 | ||
| Omega ratioGain probability vs. loss probability | 5.23 | 1.37 | +3.87 |
| Calmar ratioReturn relative to maximum drawdown | 37.51 | 3.04 | +34.47 |
| Martin ratioReturn relative to average drawdown | 214.85 | 13.10 | +201.76 |
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Drawdowns
RAVI vs. TILT - Drawdown Comparison
The maximum RAVI drawdown since its inception was -3.72%, smaller than the maximum TILT drawdown of -38.46%. Use the drawdown chart below to compare losses from any high point for RAVI and TILT.
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Drawdown Indicators
| RAVI | TILT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.72% | -38.46% | +34.74% |
Max Drawdown (1Y)Largest decline over 1 year | -0.12% | -8.51% | +8.39% |
Max Drawdown (3Y)Largest decline over 3 years | -0.36% | -19.85% | +19.49% |
Max Drawdown (5Y)Largest decline over 5 years | -3.28% | -24.12% | +20.84% |
Max Drawdown (10Y)Largest decline over 10 years | -3.72% | -38.46% | +34.74% |
Current DrawdownCurrent decline from peak | 0.00% | -1.90% | +1.90% |
Average DrawdownAverage peak-to-trough decline | -0.17% | -4.22% | +4.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 1.97% | -1.95% |
Volatility
RAVI vs. TILT - Volatility Comparison
The current volatility for FlexShares Ultra-Short Income ETF (RAVI) is 0.13%, while FlexShares Morningstar US Market Factor Tilt Index Fund (TILT) has a volatility of 4.31%. This indicates that RAVI experiences smaller price fluctuations and is considered to be less risky than TILT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RAVI | TILT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.13% | 4.31% | -4.18% |
Volatility (6M)Calculated over the trailing 6-month period | 0.31% | 9.58% | -9.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.41% | 12.69% | -12.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.41% | 17.44% | -16.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.28% | 18.75% | -17.47% |
RAVI vs. TILT - Expense Ratio Comparison
Both RAVI and TILT have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
RAVI vs. TILT - Dividend Comparison
RAVI's dividend yield for the trailing twelve months is around 4.37%, more than TILT's 1.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
TILT FlexShares Morningstar US Market Factor Tilt Index Fund | 1.10% | 1.15% | 1.23% | 1.44% | 1.60% | 1.16% | 1.49% | 1.54% | 1.97% | 1.55% | 1.60% | 1.98% |
Frequently Asked Questions
RAVI and TILT have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TILT has higher volatility (4.31%) compared to RAVI (0.13%). In terms of maximum drawdown, RAVI dropped -3.72% vs TILT's -38.46%.
On 10-year performance, TILT leads with 14.16% vs 2.67% for RAVI. Both ETFs have the same 0.25% expense ratio. 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.
Over the 10-year period, TILT has performed better with a 14.16% return vs 2.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RAVI and TILT have the same expense ratio: 0.25% per year.
RAVI has the higher dividend yield at 4.37%, compared with 1.10% for TILT.
RAVI is categorized as Ultrashort Bond, while TILT is Large Cap Blend Equities.
RAVI currently has the higher Sharpe Ratio (10.73 vs 2.04), 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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