RIRA.TO vs. QIF.NEO

Last updated Jul 25, 2026

RIRA.TO (Russell Investments Real Assets) and QIF.NEO (AGF Systematic Global Infrastructure ETF) are both Infrastructure Equities funds. Both are actively managed. Over the past 5 years, RIRA.TO returned 7.83%/yr vs 11.66%/yr for QIF.NEO. At a 0.35 correlation, their price movements are largely independent. RIRA.TO charges 1.31%/yr vs 0.45%/yr for QIF.NEO.

Performance

RIRA.TO vs. QIF.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Russell Investments Real Assets (RIRA.TO) and AGF Systematic Global Infrastructure ETF (QIF.NEO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RIRA.TO achieves a 18.72% return, which is significantly higher than QIF.NEO's 14.90% return.

RIRA.TO

• 1D: 0.46%
• 1M: 2.78%
• 6M: 13.99%
• YTD: 18.72%
• 1Y: 26.17%
• 3Y*: 11.94%
• 5Y*: 7.83%
• 10Y*: —
• ALL TIME*: 6.36%

QIF.NEO

• 1D: 0.41%
• 1M: -0.49%
• 6M: 12.01%
• YTD: 14.90%
• 1Y: 22.40%
• 3Y*: 17.53%
• 5Y*: 11.66%
• 10Y*: —
• ALL TIME*: 10.25%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QIF.NEO AGF Systematic Global Infrastructure ETF	CA$503.54K	CA$292.79K	CA$151.69K
RIRA.TO Russell Investments Real Assets	CA$30.02K	CA$31.90K	CA$47.40K

RIRA.TO vs. QIF.NEO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
RIRA.TO Russell Investments Real Assets	18.72%	10.46%	8.03%	4.50%	-8.47%	17.83%	-6.50%
QIF.NEO AGF Systematic Global Infrastructure ETF	14.90%	14.80%	21.37%	4.72%	-2.67%	20.54%	-12.75%

Correlation

The correlation between RIRA.TO and QIF.NEO is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (All Time) Calculated using the full available price history since Jan 23, 2020	0.35

Return for Risk

RIRA.TO vs. QIF.NEO — Risk / Return Rank

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

RIRA.TO

RIRA.TO Risk / Return Rank: 95
RIRA.TO Sharpe Ratio Rank: 95
RIRA.TO Sortino Ratio Rank: 95
RIRA.TO Omega Ratio Rank: 95
RIRA.TO Calmar Ratio Rank: 96
RIRA.TO Martin Ratio Rank: 95

QIF.NEO

QIF.NEO Risk / Return Rank: 91
QIF.NEO Sharpe Ratio Rank: 92
QIF.NEO Sortino Ratio Rank: 91
QIF.NEO Omega Ratio Rank: 91
QIF.NEO Calmar Ratio Rank: 94
QIF.NEO Martin Ratio Rank: 87

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.

RIRA.TO vs. QIF.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Russell Investments Real Assets (RIRA.TO) and AGF Systematic Global Infrastructure ETF (QIF.NEO). 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.

	RIRA.TO	QIF.NEO	Difference
Sharpe ratio: Return per unit of total volatility	2.88	2.34	+0.54
Sortino ratio: Return per unit of downside risk	4.03	3.22	+0.81
Omega ratio: Gain probability vs. loss probability	1.53	1.43	+0.10
Calmar ratio: Return relative to maximum drawdown	5.98	4.83	+1.14
Martin ratio: Return relative to average drawdown	21.53	12.88	+8.65

RIRA.TO vs. QIF.NEO - Sharpe Ratio Comparison

The current RIRA.TO Sharpe Ratio is 2.88, which is comparable to the QIF.NEO Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of RIRA.TO and QIF.NEO, 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

RIRA.TO vs. QIF.NEO - Drawdown Comparison

The maximum RIRA.TO drawdown since its inception was -25.82%, smaller than the maximum QIF.NEO drawdown of -30.71%. Use the drawdown chart below to compare losses from any high point for RIRA.TO and QIF.NEO.

Drawdown Indicators

	RIRA.TO	QIF.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-25.82%	-30.71%	+4.89%
Max Drawdown (1Y) Largest decline over 1 year	-4.40%	-4.67%	+0.27%
Max Drawdown (3Y) Largest decline over 3 years	-12.05%	-10.29%	-1.76%
Max Drawdown (5Y) Largest decline over 5 years	-16.56%	-15.54%	-1.02%
Current Drawdown Current decline from peak	0.00%	-1.34%	+1.34%
Average Drawdown Average peak-to-trough decline	-6.12%	-4.32%	-1.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.22%	1.75%	-0.53%

Volatility

RIRA.TO vs. QIF.NEO - Volatility Comparison

The current volatility for Russell Investments Real Assets (RIRA.TO) is 2.03%, while AGF Systematic Global Infrastructure ETF (QIF.NEO) has a volatility of 2.49%. This indicates that RIRA.TO experiences smaller price fluctuations and is considered to be less risky than QIF.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RIRA.TO	QIF.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.03%	2.49%	-0.46%
Volatility (6M) Calculated over the trailing 6-month period	6.56%	7.67%	-1.11%
Volatility (1Y) Calculated over the trailing 1-year period	9.12%	9.66%	-0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.70%	11.66%	+1.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.83%	14.76%	-0.93%

RIRA.TO vs. QIF.NEO - Expense Ratio Comparison

RIRA.TO has a 1.31% expense ratio, which is higher than QIF.NEO's 0.45% expense ratio.

Dividends

RIRA.TO vs. QIF.NEO - Dividend Comparison

RIRA.TO's dividend yield for the trailing twelve months is around 3.78%, less than QIF.NEO's 5.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
QIF.NEO AGF Systematic Global Infrastructure ETF	5.09%	5.32%	4.60%	3.61%	3.22%	3.05%	3.12%	3.16%	2.24%
RIRA.TO Russell Investments Real Assets	3.78%	4.27%	4.31%	6.16%	6.34%	3.95%	4.58%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RIRA.TO and QIF.NEO in my portfolio?

RIRA.TO and QIF.NEO have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RIRA.TO or QIF.NEO?

On fees, QIF.NEO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RIRA.TO or QIF.NEO?

QIF.NEO is cheaper with a 0.45% expense ratio, compared with 1.31% for RIRA.TO.

What is the main difference between RIRA.TO and QIF.NEO?

They also come from different issuers: Russell Investments Canada Limited and AGF. Their fees differ too: 1.31% for RIRA.TO and 0.45% for QIF.NEO.