RLY vs. RPAR
RLY (State Street Multi-Asset Real Return ETF) and RPAR (RPAR Risk Parity ETF) are both Global Allocation funds. RLY is passively managed, while RPAR is actively managed. Over the past 5 years, RLY returned 10.64%/yr vs 0.16%/yr for RPAR. Their 0.56 correlation means they have sometimes moved together and sometimes differently. RLY charges 0.50%/yr vs 0.51%/yr for RPAR.
Performance
RLY vs. RPAR - Performance Comparison
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Returns By Period
In the year-to-date period, RLY achieves a 15.29% return, which is significantly higher than RPAR's 2.94% 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%
RPAR
- 1D
- 0.28%
- 1M
- -1.72%
- 6M
- -1.14%
- YTD
- 2.94%
- 1Y
- 11.86%
- 3Y*
- 7.79%
- 5Y*
- 0.16%
- 10Y*
- —
- ALL TIME*
- 3.76%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.13M | $7.99M | $7.88M | |
| $331.03K | $305.83K | $491.73K |
RLY vs. RPAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
RLY State Street Multi-Asset Real Return ETF | 15.29% | 20.26% | 2.53% | 2.56% | 7.86% | 22.85% | -0.59% | 2.12% |
RPAR RPAR Risk Parity ETF | 2.94% | 17.91% | 0.06% | 6.03% | -22.82% | 7.56% | 19.40% | 0.13% |
Correlation
The correlation between RLY and RPAR is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.51 |
Correlation (3Y) Balances recent behavior with more history. | 0.55 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.55 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2019 | 0.56 |
The correlation between RLY and RPAR has been stable across timeframes, ranging from 0.51 to 0.56 - a consistent structural relationship.
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Return for Risk
RLY vs. RPAR — Risk / Return Rank
RLY
RPAR
RLY vs. RPAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Multi-Asset Real Return ETF (RLY) and RPAR Risk Parity ETF (RPAR). 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 | RPAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.44 | ||
| Sortino ratioReturn per unit of downside risk | +1.91 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.20 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 3.61 | 1.47 | +2.14 |
| Martin ratioReturn relative to average drawdown | 12.56 | 3.61 | +8.95 |
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Drawdowns
RLY vs. RPAR - Drawdown Comparison
The maximum RLY drawdown since its inception was -37.75%, which is greater than RPAR's maximum drawdown of -30.16%. Use the drawdown chart below to compare losses from any high point for RLY and RPAR.
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Drawdown Indicators
| RLY | RPAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.75% | -30.16% | -7.59% |
Max Drawdown (1Y)Largest decline over 1 year | -7.54% | -8.10% | +0.56% |
Max Drawdown (3Y)Largest decline over 3 years | -10.08% | -11.26% | +1.18% |
Max Drawdown (5Y)Largest decline over 5 years | -18.94% | -30.16% | +11.22% |
Max Drawdown (10Y)Largest decline over 10 years | -34.17% | — | — |
Current DrawdownCurrent decline from peak | -3.15% | -6.79% | +3.64% |
Average DrawdownAverage peak-to-trough decline | -9.40% | -11.45% | +2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 3.29% | -1.13% |
Volatility
RLY vs. RPAR - Volatility Comparison
State Street Multi-Asset Real Return ETF (RLY) and RPAR Risk Parity ETF (RPAR) have volatilities of 2.61% and 2.72%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RLY | RPAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.61% | 2.72% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 8.06% | 8.62% | -0.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.61% | 10.57% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.46% | 12.51% | +0.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.80% | 12.65% | +1.15% |
RLY vs. RPAR - Expense Ratio Comparison
RLY has a 0.50% expense ratio, which is lower than RPAR's 0.51% expense ratio.
Dividends
RLY vs. RPAR - Dividend Comparison
RLY's dividend yield for the trailing twelve months is around 3.07%, more than RPAR's 2.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
RPAR RPAR Risk Parity ETF | 2.44% | 2.55% | 2.51% | 3.16% | 4.01% | 2.02% | 0.76% | 0.23% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RLY and RPAR have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RPAR has higher volatility (2.72%) compared to RLY (2.61%). In terms of maximum drawdown, RLY dropped -37.75% vs RPAR's -30.16%.
On 5-year performance, RLY leads with 10.64% vs 0.16% for RPAR. On fees, RLY is cheaper at 0.50% 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.
Over the 5-year period, RLY has performed better with a 10.64% return vs 0.16%. 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 0.51% for RPAR.
RLY has the higher dividend yield at 3.07%, compared with 2.44% for RPAR.
They also come from different issuers: State Street and Toroso Investments. Their fees differ too: 0.50% for RLY and 0.51% for RPAR.
RLY currently has the higher Sharpe Ratio (2.57 vs 1.13), 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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