RJF vs. AIRR

Last updated Jun 13, 2026

RJF (Raymond James Financial, Inc.) is a stock, while AIRR (First Trust RBA American Industrial Renaissance ETF) is Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index. Over the past 10 years, RJF returned 17.98%/yr vs 22.05%/yr for AIRR. A 0.64 correlation means they provide meaningful diversification when combined.

Performance

RJF vs. AIRR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Raymond James Financial, Inc. (RJF) and First Trust RBA American Industrial Renaissance ETF (AIRR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RJF achieves a -3.17% return, which is significantly lower than AIRR's 31.74% return. Over the past 10 years, RJF has underperformed AIRR with an annualized return of 17.98%, while AIRR has yielded a comparatively higher 22.05% annualized return.

RJF

• 1D: 2.65%
• 1M: -0.75%
• YTD: -3.17%
• 6M: -5.10%
• 1Y: 7.45%
• 3Y*: 18.32%
• 5Y*: 13.66%
• 10Y*: 17.98%

AIRR

• 1D: 0.83%
• 1M: -1.26%
• YTD: 31.74%
• 6M: 28.77%
• 1Y: 67.12%
• 3Y*: 35.29%
• 5Y*: 25.46%
• 10Y*: 22.05%

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

RJF vs. AIRR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RJF Raymond James Financial, Inc.	-3.17%	4.74%	40.83%	6.12%	8.32%	59.48%	8.70%	22.80%	-15.65%	29.99%
AIRR First Trust RBA American Industrial Renaissance ETF	31.74%	27.92%	33.45%	31.43%	-2.08%	33.01%	17.17%	33.97%	-20.57%	16.28%

Correlation

The correlation between RJF and AIRR 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	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Mar 11, 2014	0.64

Over the past year, the correlation between RJF and AIRR has dropped to 0.43 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

Return for Risk

RJF vs. AIRR — Risk / Return Rank

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

RJF

RJF Risk / Return Rank: 47
RJF Sharpe Ratio Rank: 51
RJF Sortino Ratio Rank: 43
RJF Omega Ratio Rank: 43
RJF Calmar Ratio Rank: 50
RJF Martin Ratio Rank: 50

AIRR

AIRR Risk / Return Rank: 86
AIRR Sharpe Ratio Rank: 88
AIRR Sortino Ratio Rank: 83
AIRR Omega Ratio Rank: 78
AIRR Calmar Ratio Rank: 91
AIRR Martin Ratio Rank: 90

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.

RJF vs. AIRR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Raymond James Financial, Inc. (RJF) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.

	RJF	AIRR	Difference
Sharpe ratio: Return per unit of total volatility	0.22	2.50	-2.29
Sortino ratio: Return per unit of downside risk	0.44	3.22	-2.79
Omega ratio: Gain probability vs. loss probability	1.06	1.40	-0.34
Calmar ratio: Return relative to maximum drawdown	0.27	5.01	-4.74
Martin ratio: Return relative to average drawdown	0.57	18.33	-17.76

RJF vs. AIRR - Sharpe Ratio Comparison

The current RJF Sharpe Ratio is 0.22, which is lower than the AIRR Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of RJF and AIRR, 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

RJF vs. AIRR - Drawdown Comparison

The maximum RJF drawdown since its inception was -69.68%, which is greater than AIRR's maximum drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for RJF and AIRR.

Drawdown Indicators

	RJF	AIRR	Difference
Max Drawdown Largest peak-to-trough decline	-69.68%	-42.37%	-27.31%
Max Drawdown (1Y) Largest decline over 1 year	-19.64%	-13.09%	-6.55%
Max Drawdown (3Y) Largest decline over 3 years	-28.12%	-27.95%	-0.17%
Max Drawdown (5Y) Largest decline over 5 years	-32.11%	-27.95%	-4.16%
Max Drawdown (10Y) Largest decline over 10 years	-45.59%	-42.37%	-3.22%
Current Drawdown Current decline from peak	-11.61%	-1.89%	-9.72%
Average Drawdown Average peak-to-trough decline	-14.62%	-7.48%	-7.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.34%	3.57%	+5.77%

Volatility

RJF vs. AIRR - Volatility Comparison

The current volatility for Raymond James Financial, Inc. (RJF) is 7.64%, while First Trust RBA American Industrial Renaissance ETF (AIRR) has a volatility of 9.32%. This indicates that RJF experiences smaller price fluctuations and is considered to be less risky than AIRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RJF	AIRR	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.64%	9.32%	-1.68%
Volatility (6M) Calculated over the trailing 6-month period	19.52%	20.81%	-1.29%
Volatility (1Y) Calculated over the trailing 1-year period	24.66%	26.19%	-1.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.04%	25.45%	+2.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.95%	26.36%	+4.59%

Dividends

RJF vs. AIRR - Dividend Comparison

RJF's dividend yield for the trailing twelve months is around 1.35%, more than AIRR's 0.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIRR First Trust RBA American Industrial Renaissance ETF	0.13%	0.19%	0.18%	0.23%	0.12%	0.05%	0.10%	0.20%	0.43%	0.30%	0.08%	0.47%
RJF Raymond James Financial, Inc.	1.35%	1.25%	0.87%	1.53%	1.67%	1.04%	1.16%	1.93%	1.48%	0.74%	1.18%	1.28%

Frequently Asked Questions

Can I hold both RJF and AIRR in my portfolio?

RJF and AIRR 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 is riskier, RJF or AIRR?

AIRR has higher volatility (9.32%) compared to RJF (7.64%). In terms of maximum drawdown, RJF dropped -69.68% vs AIRR's -42.37%.

Which has better risk-adjusted returns?

AIRR currently has the higher Sharpe Ratio (2.50 vs 0.22), 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.