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RLY vs. FTSD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RLY vs. FTSD

Last updated Jun 4, 2026

RLY (SPDR SSgA Multi-Asset Real Return ETF) and FTSD (Franklin Short Duration U.S. Government ETF) are both exchange-traded funds - RLY is a Hedge Fund fund actively managed by State Street, while FTSD is a Mortgage Backed Securities fund actively managed by Franklin Templeton. Both are actively managed. Over the past 10 years, RLY returned 8.56%/yr vs 2.05%/yr for FTSD. At a 0.03 correlation, their price movements are largely independent. RLY charges 0.50%/yr vs 0.25%/yr for FTSD.

Performance

RLY vs. FTSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR SSgA Multi-Asset Real Return ETF (RLY) and Franklin Short Duration U.S. Government ETF (FTSD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, RLY achieves a 17.13% return, which is significantly higher than FTSD's 0.80% return. Over the past 10 years, RLY has outperformed FTSD with an annualized return of 8.56%, while FTSD has yielded a comparatively lower 2.05% annualized return.

RLY

1D
-0.30%
1M
-0.30%
YTD
17.13%
6M
18.27%
1Y
31.78%
3Y*
15.11%
5Y*
10.43%
10Y*
8.56%

FTSD

1D
-0.12%
1M
0.17%
YTD
0.80%
6M
1.30%
1Y
4.31%
3Y*
4.98%
5Y*
2.46%
10Y*
2.05%
*Multi-year figures are annualized to reflect compound growth (CAGR)

RLY vs. FTSD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RLY
SPDR SSgA Multi-Asset Real Return ETF		17.13%20.26%2.53%2.56%7.86%22.85%-0.59%15.63%-11.72%10.40%
FTSD
Franklin Short Duration U.S. Government ETF		0.80%5.66%5.20%4.84%-3.13%-0.90%3.13%2.40%1.64%0.63%

Correlation

The correlation between RLY and FTSD is -0.10, 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

-0.10

Correlation (3Y)
Calculated over the trailing 3-year period

0.03

Correlation (5Y)
Calculated over the trailing 5-year period

0.05

Correlation (10Y)
Calculated over the trailing 10-year period

0.03

Correlation (All Time)
Calculated using the full available price history since Nov 6, 2013

0.03

The correlation between RLY and FTSD shifts across timeframes, from -0.10 (1 year) to 0.05 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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SPDR SSgA Multi-Asset Real Return ETF

Franklin Short Duration U.S. Government ETF

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Often compared with FTSD:
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Return for Risk

RLY vs. FTSD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RLY
RLY Risk / Return Rank: 9292
Overall Rank
RLY Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
RLY Sortino Ratio Rank: 9191
Sortino Ratio Rank
RLY Omega Ratio Rank: 9090
Omega Ratio Rank
RLY Calmar Ratio Rank: 9595
Calmar Ratio Rank
RLY Martin Ratio Rank: 9595
Martin Ratio Rank
FTSD
FTSD Risk / Return Rank: 9595
Overall Rank
FTSD Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
FTSD Sortino Ratio Rank: 9595
Sortino Ratio Rank
FTSD Omega Ratio Rank: 9494
Omega Ratio Rank
FTSD Calmar Ratio Rank: 9696
Calmar Ratio Rank
FTSD Martin Ratio Rank: 9696
Martin Ratio Rank
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. FTSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSgA Multi-Asset Real Return ETF (RLY) and Franklin Short Duration U.S. Government ETF (FTSD). 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.

RLYFTSDDifference
Sharpe ratioReturn per unit of total volatility
3.17
3.30

-0.13

Sortino ratioReturn per unit of downside risk
4.33
5.27

-0.94

Omega ratioGain probability vs. loss probability

1.60

1.69

-0.09

Calmar ratioReturn relative to maximum drawdown

8.60

9.59

-0.99

Martin ratioReturn relative to average drawdown

31.17

38.36

-7.19

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RLY vs. FTSD - Sharpe Ratio Comparison

The current RLY Sharpe Ratio is 3.17, which is comparable to the FTSD Sharpe Ratio of 3.30. The chart below compares the historical Sharpe Ratios of RLY and FTSD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

RLYFTSDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.17

3.30

-0.13

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.77

1.33

-0.56

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.62

1.15

-0.53

Sharpe Ratio (All Time)

Calculated using the full available price history

0.38

1.04

-0.67

Drawdowns

RLY vs. FTSD - Drawdown Comparison

The maximum RLY drawdown since its inception was -37.75%, which is greater than FTSD's maximum drawdown of -5.32%. Use the drawdown chart below to compare losses from any high point for RLY and FTSD.

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Drawdown Indicators

RLYFTSDDifference

Max Drawdown

Largest peak-to-trough decline

-37.75%

-5.32%

-32.43%

Max Drawdown (1Y)

Largest decline over 1 year

-3.71%

-0.45%

-3.26%

Max Drawdown (3Y)

Largest decline over 3 years

-10.08%

-0.93%

-9.15%

Max Drawdown (5Y)

Largest decline over 5 years

-18.94%

-5.04%

-13.90%

Max Drawdown (10Y)

Largest decline over 10 years

-34.17%

-5.32%

-28.85%

Current Drawdown

Current decline from peak

-1.60%

-0.12%

-1.48%

Average Drawdown

Average peak-to-trough decline

-9.46%

-0.60%

-8.86%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.02%

0.11%

+0.91%

Volatility

RLY vs. FTSD - Volatility Comparison

SPDR SSgA Multi-Asset Real Return ETF (RLY) has a higher volatility of 3.00% compared to Franklin Short Duration U.S. Government ETF (FTSD) at 0.51%. This indicates that RLY's price experiences larger fluctuations and is considered to be riskier than FTSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

RLYFTSDDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.00%

0.51%

+2.49%

Volatility (6M)

Calculated over the trailing 6-month period

8.15%

1.03%

+7.12%

Volatility (1Y)

Calculated over the trailing 1-year period

10.06%

1.31%

+8.75%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.54%

1.85%

+11.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.81%

1.79%

+12.02%

RLY vs. FTSD - Expense Ratio Comparison

RLY has a 0.50% expense ratio, which is higher than FTSD's 0.25% expense ratio.

Dividends

RLY vs. FTSD - Dividend Comparison

RLY's dividend yield for the trailing twelve months is around 2.86%, less than FTSD's 4.50% yield.

PositionTTM20252024202320222021202020192018201720162015
FTSD
Franklin Short Duration U.S. Government ETF		4.50%4.67%4.75%4.14%1.73%1.01%1.54%2.90%2.63%2.24%1.92%1.52%
RLY
SPDR SSgA Multi-Asset Real Return ETF		2.86%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 FTSD have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

RLY has higher volatility (3.00%) compared to FTSD (0.51%). In terms of maximum drawdown, RLY dropped -37.75% vs FTSD's -5.32%.

On 10-year performance, RLY leads with 8.56% vs 2.05% for FTSD. On fees, FTSD is cheaper at 0.25% per year. On volatility, FTSD has been the lower-risk option at 0.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, RLY has performed better with a 8.56% return vs 2.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FTSD is cheaper with a 0.25% expense ratio, compared with 0.50% for RLY.

FTSD has the higher dividend yield at 4.50%, compared with 2.86% for RLY.

RLY is categorized as Hedge Fund, while FTSD is Mortgage Backed Securities. They also come from different issuers: State Street and Franklin Templeton. Their fees differ too: 0.50% for RLY and 0.25% for FTSD.

FTSD currently has the higher Sharpe Ratio (3.30 vs 3.17), 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.

Portfolio Optimizer

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