RLY vs. VWELX

Last updated Jun 9, 2026

RLY (SPDR SSgA Multi-Asset Real Return ETF) and VWELX (Vanguard Wellington Fund Investor Shares) are both funds - RLY is a Hedge Fund fund actively managed by State Street, while VWELX is a Diversified Portfolio fund actively managed by Vanguard. Both are actively managed. Over the past 10 years, RLY returned 8.25%/yr vs 9.87%/yr for VWELX. A 0.64 correlation means they provide meaningful diversification when combined. RLY charges 0.50%/yr vs 0.24%/yr for VWELX.

Performance

RLY vs. VWELX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR SSgA Multi-Asset Real Return ETF (RLY) and Vanguard Wellington Fund Investor Shares (VWELX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RLY achieves a 14.36% return, which is significantly higher than VWELX's 4.55% return. Over the past 10 years, RLY has underperformed VWELX with an annualized return of 8.25%, while VWELX has yielded a comparatively higher 9.87% annualized return.

RLY

• 1D: -0.06%
• 1M: -2.10%
• YTD: 14.36%
• 6M: 16.24%
• 1Y: 28.00%
• 3Y*: 13.90%
• 5Y*: 9.85%
• 10Y*: 8.25%

VWELX

• 1D: -2.02%
• 1M: -0.51%
• YTD: 4.55%
• 6M: 4.96%
• 1Y: 17.46%
• 3Y*: 14.67%
• 5Y*: 8.31%
• 10Y*: 9.87%

*Multi-year figures are annualized to reflect compound growth (CAGR)

RLY vs. VWELX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RLY SPDR SSgA Multi-Asset Real Return ETF	14.36%	20.26%	2.53%	2.56%	7.86%	22.85%	-0.59%	15.63%	-11.72%	10.40%
VWELX Vanguard Wellington Fund Investor Shares	4.55%	16.54%	14.73%	14.29%	-14.36%	18.99%	10.57%	22.51%	-3.43%	13.98%

Correlation

The correlation between RLY and VWELX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Apr 27, 2012	0.64

Over the past year, the correlation between RLY and VWELX has dropped to 0.31 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

RLY vs. VWELX - Sectors Allocation Comparison

Sectors	RLY	VWELX
Energy	30.1%	4.4%
Basic Materials	25.1%	2.1%
Industrials	16.5%	8.5%
Utilities	15.9%	2.5%
Real Estate	5.4%	2.6%
Consumer Defensive	3.6%	4.4%
Consumer Cyclical	2.6%	10.9%
Healthcare	0.8%	9.8%
Financial Services	0.0%	10.6%
Communication Services	-	12.3%
Technology	-	31.8%

Return for Risk

RLY vs. VWELX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RLY

RLY Risk / Return Rank: 91
RLY Sharpe Ratio Rank: 89
RLY Sortino Ratio Rank: 89
RLY Omega Ratio Rank: 89
RLY Calmar Ratio Rank: 95
RLY Martin Ratio Rank: 94

VWELX

VWELX Risk / Return Rank: 55
VWELX Sharpe Ratio Rank: 54
VWELX Sortino Ratio Rank: 50
VWELX Omega Ratio Rank: 54
VWELX Calmar Ratio Rank: 52
VWELX Martin Ratio Rank: 65

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. VWELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSgA Multi-Asset Real Return ETF (RLY) and Vanguard Wellington Fund Investor Shares (VWELX). 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.

	RLY	VWELX	Difference
Sharpe ratio: Return per unit of total volatility	2.73	2.09	+0.64
Sortino ratio: Return per unit of downside risk	3.69	2.89	+0.80
Omega ratio: Gain probability vs. loss probability	1.51	1.39	+0.12
Calmar ratio: Return relative to maximum drawdown	7.16	2.67	+4.49
Martin ratio: Return relative to average drawdown	25.86	12.31	+13.56
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. VWELX - Sharpe Ratio Comparison

The current RLY Sharpe Ratio is 2.73, which is higher than the VWELX Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of RLY and VWELX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RLY	VWELX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.73	2.09	+0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.75	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.86	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.84	-0.48

Drawdowns

RLY vs. VWELX - Drawdown Comparison

The maximum RLY drawdown since its inception was -37.75%, roughly equal to the maximum VWELX drawdown of -36.12%. Use the drawdown chart below to compare losses from any high point for RLY and VWELX.

Drawdown Indicators

	RLY	VWELX	Difference
Max Drawdown Largest peak-to-trough decline	-37.75%	-36.12%	-1.63%
Max Drawdown (1Y) Largest decline over 1 year	-3.93%	-6.78%	+2.85%
Max Drawdown (3Y) Largest decline over 3 years	-10.08%	-11.98%	+1.90%
Max Drawdown (5Y) Largest decline over 5 years	-18.94%	-20.88%	+1.94%
Max Drawdown (10Y) Largest decline over 10 years	-34.17%	-25.33%	-8.84%
Current Drawdown Current decline from peak	-3.93%	-2.39%	-1.54%
Average Drawdown Average peak-to-trough decline	-9.45%	-3.92%	-5.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	1.47%	-0.38%

Volatility

RLY vs. VWELX - Volatility Comparison

SPDR SSgA Multi-Asset Real Return ETF (RLY) has a higher volatility of 3.47% compared to Vanguard Wellington Fund Investor Shares (VWELX) at 3.12%. This indicates that RLY's price experiences larger fluctuations and is considered to be riskier than VWELX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RLY	VWELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.47%	3.12%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	8.46%	7.00%	+1.46%
Volatility (1Y) Calculated over the trailing 1-year period	10.34%	8.67%	+1.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.57%	11.17%	+2.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.83%	11.55%	+2.28%

RLY vs. VWELX - Expense Ratio Comparison

RLY has a 0.50% expense ratio, which is higher than VWELX's 0.24% expense ratio.

Dividends

RLY vs. VWELX - Dividend Comparison

RLY's dividend yield for the trailing twelve months is around 2.93%, less than VWELX's 11.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RLY SPDR SSgA Multi-Asset Real Return ETF	2.93%	3.24%	3.31%	3.71%	5.66%	12.15%	2.16%	3.45%	2.76%	1.85%	2.07%	1.80%
VWELX Vanguard Wellington Fund Investor Shares	11.02%	11.46%	10.76%	6.01%	8.19%	8.64%	7.77%	4.67%	9.49%	5.82%	4.44%	7.03%

Frequently Asked Questions

Can I hold both RLY and VWELX in my portfolio?

RLY and VWELX have a correlation of 0.31, 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 VWELX?

RLY has higher volatility (3.47%) compared to VWELX (3.12%). In terms of maximum drawdown, RLY dropped -37.75% vs VWELX's -36.12%.

Which has better risk-adjusted returns?

RLY currently has the higher Sharpe Ratio (2.73 vs 2.09), 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.