RLY vs. EPI
RLY (State Street Multi-Asset Real Return ETF) and EPI (WisdomTree India Earnings Fund) are both exchange-traded funds - RLY is a Hedge Fund fund tracking the Bloomberg U.S. Government Inflation-Linked Bond Index, while EPI is a India Equities fund tracking the WisdomTree India Earnings Index. Both are passively managed. Over the past 10 years, RLY returned 8.02%/yr vs 8.57%/yr for EPI. At a 0.47 correlation, their price movements are largely independent. RLY charges 0.50%/yr vs 0.84%/yr for EPI.
Performance
RLY vs. EPI - Performance Comparison
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Returns By Period
In the year-to-date period, RLY achieves a 13.94% return, which is significantly higher than EPI's -8.90% return. Over the past 10 years, RLY has underperformed EPI with an annualized return of 8.02%, while EPI has yielded a comparatively higher 8.57% annualized return.
RLY
- 1D
- -0.31%
- 1M
- 1.21%
- 6M
- 8.76%
- YTD
- 13.94%
- 1Y
- 24.26%
- 3Y*
- 12.31%
- 5Y*
- 10.60%
- 10Y*
- 8.02%
- ALL TIME*
- 4.68%
EPI
- 1D
- -0.35%
- 1M
- -1.98%
- 6M
- -7.05%
- YTD
- -8.90%
- 1Y
- -9.35%
- 3Y*
- 5.70%
- 5Y*
- 5.95%
- 10Y*
- 8.57%
- ALL TIME*
- 3.81%
RLY vs. EPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RLY State Street Multi-Asset Real Return ETF | 13.94% | 20.26% | 2.53% | 2.56% | 7.86% | 22.85% | -0.59% | 15.63% | -11.72% | 10.40% |
EPI WisdomTree India Earnings Fund | -8.90% | 2.25% | 10.70% | 26.03% | -4.74% | 26.41% | 18.55% | 1.53% | -9.88% | 39.14% |
Correlation
The correlation between RLY and EPI is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2012 | 0.47 |
Over the past year, the correlation between RLY and EPI has dropped to 0.15 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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Return for Risk
RLY vs. EPI — Risk / Return Rank
RLY
EPI
RLY vs. EPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Multi-Asset Real Return ETF (RLY) and WisdomTree India Earnings Fund (EPI). 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 | EPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.93 | ||
| Sortino ratioReturn per unit of downside risk | +3.97 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 0.91 | +0.51 |
| Calmar ratioReturn relative to maximum drawdown | 3.23 | -0.60 | +3.83 |
| Martin ratioReturn relative to average drawdown | 11.48 | -1.41 | +12.89 |
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Drawdowns
RLY vs. EPI - Drawdown Comparison
The maximum RLY drawdown since its inception was -37.75%, smaller than the maximum EPI drawdown of -66.21%. Use the drawdown chart below to compare losses from any high point for RLY and EPI.
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Drawdown Indicators
| RLY | EPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.75% | -66.21% | +28.46% |
Max Drawdown (1Y)Largest decline over 1 year | -7.54% | -15.69% | +8.15% |
Max Drawdown (3Y)Largest decline over 3 years | -10.08% | -21.89% | +11.81% |
Max Drawdown (5Y)Largest decline over 5 years | -18.94% | -21.89% | +2.95% |
Max Drawdown (10Y)Largest decline over 10 years | -34.17% | -50.29% | +16.12% |
Current DrawdownCurrent decline from peak | -4.28% | -16.80% | +12.52% |
Average DrawdownAverage peak-to-trough decline | -9.42% | -18.63% | +9.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 6.64% | -4.52% |
Volatility
RLY vs. EPI - Volatility Comparison
The current volatility for State Street Multi-Asset Real Return ETF (RLY) is 2.91%, while WisdomTree India Earnings Fund (EPI) has a volatility of 3.67%. This indicates that RLY experiences smaller price fluctuations and is considered to be less risky than EPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RLY | EPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.91% | 3.67% | -0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 8.44% | 13.03% | -4.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.56% | 15.25% | -4.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.47% | 16.27% | -2.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.79% | 20.27% | -6.48% |
RLY vs. EPI - Expense Ratio Comparison
RLY has a 0.50% expense ratio, which is lower than EPI's 0.84% expense ratio.
Dividends
RLY vs. EPI - Dividend Comparison
RLY's dividend yield for the trailing twelve months is around 3.11%, while EPI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPI WisdomTree India Earnings Fund | 0.00% | 0.00% | 0.27% | 0.15% | 6.01% | 1.18% | 0.78% | 1.17% | 1.18% | 0.85% | 1.05% | 1.20% |
RLY State Street Multi-Asset Real Return ETF | 3.11% | 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
RLY and EPI have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EPI has higher volatility (3.67%) compared to RLY (2.91%). In terms of maximum drawdown, RLY dropped -37.75% vs EPI's -66.21%.
On 10-year performance, EPI leads with 8.57% vs 8.02% for RLY. On fees, RLY is cheaper at 0.50% per year. On volatility, RLY has been the lower-risk option at 2.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EPI has performed better with a 8.57% return vs 8.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RLY is cheaper with a 0.50% expense ratio, compared with 0.84% for EPI.
RLY has the higher dividend yield at 3.11%, compared with 0.00% for EPI.
RLY is categorized as Hedge Fund, while EPI is India Equities. RLY tracks Bloomberg U.S. Government Inflation-Linked Bond Index, while EPI tracks WisdomTree India Earnings Index. They also come from different issuers: State Street and WisdomTree. Their fees differ too: 0.50% for RLY and 0.84% for EPI.
RLY currently has the higher Sharpe Ratio (2.31 vs -0.62), 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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