RLY vs. ASET

Last updated Jun 24, 2026

RLY (SPDR SSgA Multi-Asset Real Return ETF) and ASET (FlexShares Real Assets Allocation Index Fund) are both exchange-traded funds - RLY is a Hedge Fund fund actively managed by State Street, while ASET is a Diversified Portfolio fund tracking the Northern Trust Real Assets Allocation Total Return. RLY is actively managed, while ASET is passively managed. RLY charges 0.50%/yr vs 0.57%/yr for ASET.

Performance

RLY vs. ASET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR SSgA Multi-Asset Real Return ETF (RLY) and FlexShares Real Assets Allocation Index Fund (ASET). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

RLY

• 1D: -0.77%
• 1M: -4.87%
• YTD: 11.33%
• 6M: 10.55%
• 1Y: 23.01%
• 3Y*: 13.30%
• 5Y*: 9.65%
• 10Y*: 8.09%

ASET

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RLY vs. ASET - Yearly Performance Comparison

	2026 (YTD)
RLY SPDR SSgA Multi-Asset Real Return ETF	3.47%
ASET FlexShares Real Assets Allocation Index Fund	0.00%

Return for Risk

RLY vs. ASET — Risk / Return Rank

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

RLY

RLY Risk / Return Rank: 74
RLY Sharpe Ratio Rank: 72
RLY Sortino Ratio Rank: 71
RLY Omega Ratio Rank: 72
RLY Calmar Ratio Rank: 74
RLY Martin Ratio Rank: 83

ASET

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.

RLY vs. ASET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSgA Multi-Asset Real Return ETF (RLY) and FlexShares Real Assets Allocation Index Fund (ASET). 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.

	RLY	ASET	Difference
Sharpe ratio: Return per unit of total volatility	2.20	—	—
Sortino ratio: Return per unit of downside risk	3.03	—	—
Omega ratio: Gain probability vs. loss probability	1.40	—	—
Calmar ratio: Return relative to maximum drawdown	3.57	—	—
Martin ratio: Return relative to average drawdown	16.17	—	—

Drawdowns

RLY vs. ASET - Drawdown Comparison

The maximum RLY drawdown since its inception was -37.75%, which is greater than ASET's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for RLY and ASET.

Drawdown Indicators

	RLY	ASET	Difference
Max Drawdown Largest peak-to-trough decline	-37.75%	0.00%	-37.75%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-10.08%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.94%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.17%	—	—
Current Drawdown Current decline from peak	-6.47%	0.00%	-6.47%
Average Drawdown Average peak-to-trough decline	-9.44%	0.00%	-9.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.43%	—	—

Volatility

Volatility by Period

	RLY	ASET	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.47%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.49%	0.00%	+10.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.53%	0.00%	+13.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.81%	0.00%	+13.81%

RLY vs. ASET - Expense Ratio Comparison

RLY has a 0.50% expense ratio, which is lower than ASET's 0.57% expense ratio.

Dividends

RLY vs. ASET - Dividend Comparison

RLY's dividend yield for the trailing twelve months is around 3.01%, while ASET has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASET FlexShares Real Assets Allocation Index Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RLY SPDR SSgA Multi-Asset Real Return ETF	3.01%	3.24%	3.31%	3.71%	5.66%	12.15%	2.16%	3.45%	2.76%	1.85%	2.07%	1.80%

Frequently Asked Questions

Which ETF is better, RLY or ASET?

On fees, RLY is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RLY or ASET?

RLY is cheaper with a 0.50% expense ratio, compared with 0.57% for ASET.

Which ETF pays a higher dividend yield, RLY or ASET?

RLY has the higher dividend yield at 3.01%, compared with 0.00% for ASET.

What is the main difference between RLY and ASET?

RLY is categorized as Hedge Fund, while ASET is Diversified Portfolio. They also come from different issuers: State Street and Northern Trust. Their fees differ too: 0.50% for RLY and 0.57% for ASET.