RLY vs. TFPN
RLY (State Street Multi-Asset Real Return ETF) and TFPN (Blueprint Chesapeake Multi-Asset Trend ETF) are both Global Allocation funds. RLY is passively managed, while TFPN is actively managed. Over the past 3 years, RLY returned 12.93%/yr vs 6.13%/yr for TFPN. Their 0.32 correlation means their historical movements had little consistent relationship. RLY charges 0.50%/yr vs 1.10%/yr for TFPN.
Performance
RLY vs. TFPN - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with RLY having a 15.29% return and TFPN slightly higher at 15.41%.
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%
TFPN
- 1D
- -0.88%
- 1M
- -2.50%
- 6M
- 5.72%
- YTD
- 15.41%
- 1Y
- 28.64%
- 3Y*
- 6.13%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.13M | $7.99M | $7.88M | |
| $402.15K | $582.56K | $364.33K |
RLY vs. TFPN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
RLY State Street Multi-Asset Real Return ETF | 15.29% | 20.26% | 2.53% | 3.28% |
TFPN Blueprint Chesapeake Multi-Asset Trend ETF | 15.41% | 3.61% | 2.67% | -1.83% |
Correlation
The correlation between RLY and TFPN is 0.50, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.50 |
Correlation (3Y) Balances recent behavior with more history. | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2023 | 0.32 |
The correlation between RLY and TFPN shifts across timeframes, from 0.32 (all time) to 0.50 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
RLY vs. TFPN — Risk / Return Rank
RLY
TFPN
RLY vs. TFPN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Multi-Asset Real Return ETF (RLY) and Blueprint Chesapeake Multi-Asset Trend ETF (TFPN). 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 | TFPN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.31 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.61 | 2.63 | +0.98 |
| Martin ratioReturn relative to average drawdown | 12.56 | 8.69 | +3.86 |
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Drawdowns
RLY vs. TFPN - Drawdown Comparison
The maximum RLY drawdown since its inception was -37.75%, which is greater than TFPN's maximum drawdown of -16.72%. Use the drawdown chart below to compare losses from any high point for RLY and TFPN.
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Drawdown Indicators
| RLY | TFPN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.75% | -16.72% | -21.03% |
Max Drawdown (1Y)Largest decline over 1 year | -7.54% | -10.94% | +3.40% |
Max Drawdown (3Y)Largest decline over 3 years | -10.08% | -16.72% | +6.64% |
Max Drawdown (5Y)Largest decline over 5 years | -18.94% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -34.17% | — | — |
Current DrawdownCurrent decline from peak | -3.15% | -9.21% | +6.06% |
Average DrawdownAverage peak-to-trough decline | -9.40% | -4.92% | -4.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 3.30% | -1.14% |
Volatility
RLY vs. TFPN - Volatility Comparison
The current volatility for State Street Multi-Asset Real Return ETF (RLY) is 2.61%, while Blueprint Chesapeake Multi-Asset Trend ETF (TFPN) has a volatility of 6.30%. This indicates that RLY experiences smaller price fluctuations and is considered to be less risky than TFPN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RLY | TFPN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.61% | 6.30% | -3.69% |
Volatility (6M)Calculated over the trailing 6-month period | 8.06% | 13.76% | -5.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.61% | 16.27% | -5.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.46% | 13.35% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.80% | 13.35% | +0.45% |
RLY vs. TFPN - Expense Ratio Comparison
RLY has a 0.50% expense ratio, which is lower than TFPN's 1.10% expense ratio.
Dividends
RLY vs. TFPN - Dividend Comparison
RLY's dividend yield for the trailing twelve months is around 3.07%, while TFPN has not paid dividends to shareholders.
| 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% |
TFPN Blueprint Chesapeake Multi-Asset Trend ETF | 0.00% | 0.00% | 0.94% | 0.98% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RLY and TFPN have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TFPN has higher volatility (6.30%) compared to RLY (2.61%). In terms of maximum drawdown, RLY dropped -37.75% vs TFPN's -16.72%.
On 3-year performance, RLY leads with 12.93% vs 6.13% for TFPN. 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 3-year period, RLY has performed better with a 12.93% return vs 6.13%. 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 1.10% for TFPN.
RLY has the higher dividend yield at 3.07%, compared with 0.00% for TFPN.
They also come from different issuers: State Street and Tidal. Their fees differ too: 0.50% for RLY and 1.10% for TFPN.
RLY currently has the higher Sharpe Ratio (2.57 vs 1.77), 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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