RLY vs. JFLI

Last updated Aug 4, 2026

RLY (State Street Multi-Asset Real Return ETF) and JFLI (JPMorgan Flexible Income ETF) are both Global Allocation funds. RLY is passively managed, while JFLI is actively managed. Over the past year, RLY returned 27.11% vs 17.09% for JFLI. Their 0.44 correlation means their historical movements had little consistent relationship. RLY charges 0.50%/yr vs 0.35%/yr for JFLI.

Performance

RLY vs. JFLI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Multi-Asset Real Return ETF (RLY) and JPMorgan Flexible Income ETF (JFLI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RLY achieves a 15.29% return, which is significantly higher than JFLI's 9.20% return.

RLY

• 1D: -0.42%
• 1M: 3.64%
• 6M: 8.40%
• YTD: 15.29%
• 1Y: 27.11%
• 3Y*: 12.93%
• 5Y*: 10.64%
• 10Y*: 8.16%
• ALL TIME*: 4.75%

JFLI

• 1D: 0.59%
• 1M: -0.03%
• 6M: 6.08%
• YTD: 9.20%
• 1Y: 17.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.12%

*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)
JFLI JPMorgan Flexible Income ETF	$228.61K	$283.27K	$275.57K
RLY State Street Multi-Asset Real Return ETF	$5.13M	$7.99M	$7.88M

RLY vs. JFLI - Yearly Performance Comparison

	2026 (YTD)	2025
RLY State Street Multi-Asset Real Return ETF	15.29%	15.33%
JFLI JPMorgan Flexible Income ETF	9.20%	9.73%

Correlation

The correlation between RLY and JFLI is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.39
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	0.44

Return for Risk

RLY vs. JFLI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RLY

RLY Risk / Return Rank: 90
RLY Sharpe Ratio Rank: 93
RLY Sortino Ratio Rank: 92
RLY Omega Ratio Rank: 92
RLY Calmar Ratio Rank: 88
RLY Martin Ratio Rank: 86

JFLI

JFLI Risk / Return Rank: 75
JFLI Sharpe Ratio Rank: 74
JFLI Sortino Ratio Rank: 75
JFLI Omega Ratio Rank: 76
JFLI Calmar Ratio Rank: 70
JFLI Martin Ratio Rank: 81

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RLY vs. JFLI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Multi-Asset Real Return ETF (RLY) and JPMorgan Flexible Income ETF (JFLI). 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	JFLI	Difference
Sharpe ratio: Return per unit of total volatility	2.57	1.79	+0.79
Sortino ratio: Return per unit of downside risk	3.51	2.53	+0.98
Omega ratio: Gain probability vs. loss probability	1.47	1.33	+0.14
Calmar ratio: Return relative to maximum drawdown	3.61	2.57	+1.04
Martin ratio: Return relative to average drawdown	12.56	11.24	+1.31

RLY vs. JFLI - Sharpe Ratio Comparison

The current RLY Sharpe Ratio is 2.57, which is higher than the JFLI Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of RLY and JFLI, 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

RLY vs. JFLI - Drawdown Comparison

The maximum RLY drawdown since its inception was -37.75%, which is greater than JFLI's maximum drawdown of -12.87%. Use the drawdown chart below to compare losses from any high point for RLY and JFLI.

Drawdown Indicators

	RLY	JFLI	Difference
Max Drawdown Largest peak-to-trough decline	-37.75%	-12.87%	-24.88%
Max Drawdown (1Y) Largest decline over 1 year	-7.54%	-6.67%	-0.87%
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	-3.15%	-1.24%	-1.91%
Average Drawdown Average peak-to-trough decline	-9.40%	-1.43%	-7.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	1.52%	+0.64%

Volatility

RLY vs. JFLI - Volatility Comparison

The current volatility for State Street Multi-Asset Real Return ETF (RLY) is 2.61%, while JPMorgan Flexible Income ETF (JFLI) has a volatility of 3.07%. This indicates that RLY experiences smaller price fluctuations and is considered to be less risky than JFLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RLY	JFLI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.61%	3.07%	-0.46%
Volatility (6M) Calculated over the trailing 6-month period	8.06%	8.27%	-0.21%
Volatility (1Y) Calculated over the trailing 1-year period	10.61%	9.63%	+0.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.46%	11.99%	+1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.80%	11.99%	+1.81%

RLY vs. JFLI - Expense Ratio Comparison

RLY has a 0.50% expense ratio, which is higher than JFLI's 0.35% expense ratio.

Dividends

RLY vs. JFLI - Dividend Comparison

RLY's dividend yield for the trailing twelve months is around 3.07%, less than JFLI's 7.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JFLI JPMorgan Flexible Income ETF	7.28%	6.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RLY State Street Multi-Asset Real Return ETF	3.07%	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

Can I hold both RLY and JFLI in my portfolio?

RLY and JFLI have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RLY or JFLI?

JFLI has higher volatility (3.07%) compared to RLY (2.61%). In terms of maximum drawdown, RLY dropped -37.75% vs JFLI's -12.87%.

Which ETF is better, RLY or JFLI?

On 1-year performance, RLY leads with 27.11% vs 17.09% for JFLI. On fees, JFLI is cheaper at 0.35% per year. On volatility, RLY has been the lower-risk option at 2.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RLY or JFLI?

Over the 1-year period, RLY has performed better with a 27.11% return vs 17.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RLY or JFLI?

JFLI is cheaper with a 0.35% expense ratio, compared with 0.50% for RLY.

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

JFLI has the higher dividend yield at 7.28%, compared with 3.07% for RLY.

What is the main difference between RLY and JFLI?

They also come from different issuers: State Street and JPMorgan. Their fees differ too: 0.50% for RLY and 0.35% for JFLI.

Which has better risk-adjusted returns?

RLY currently has the higher Sharpe Ratio (2.57 vs 1.79), 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.