RSBA vs. BLNDX

Last updated Jun 4, 2026

RSBA (Return Stacked Bonds & Merger Arbitrage ETF) and BLNDX (Standpoint Multi-Asset Fund Institutional) are both funds - RSBA is a Leveraged Bonds fund actively managed by Return Stacked, while BLNDX is a Diversified Portfolio fund managed by Ultimus Fund. Over the past year, RSBA returned 4.65% vs 31.77% for BLNDX. At a 0.05 correlation, their price movements are largely independent. RSBA charges 0.96%/yr vs 1.27%/yr for BLNDX.

Performance

RSBA vs. BLNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Return Stacked Bonds & Merger Arbitrage ETF (RSBA) and Standpoint Multi-Asset Fund Institutional (BLNDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSBA achieves a -0.30% return, which is significantly lower than BLNDX's 17.17% return.

RSBA

• 1D: -0.24%
• 1M: 0.15%
• YTD: -0.30%
• 6M: -0.66%
• 1Y: 4.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BLNDX

• 1D: 0.17%
• 1M: 0.99%
• YTD: 17.17%
• 6M: 18.61%
• 1Y: 31.77%
• 3Y*: 12.15%
• 5Y*: 9.63%
• 10Y*: —

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

RSBA vs. BLNDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RSBA Return Stacked Bonds & Merger Arbitrage ETF	-0.30%	7.73%	-0.04%
BLNDX Standpoint Multi-Asset Fund Institutional	17.17%	4.12%	-0.96%

Correlation

The correlation between RSBA and BLNDX is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024	0.05

Return for Risk

RSBA vs. BLNDX — Risk / Return Rank

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

RSBA

RSBA Risk / Return Rank: 30
RSBA Sharpe Ratio Rank: 28
RSBA Sortino Ratio Rank: 28
RSBA Omega Ratio Rank: 26
RSBA Calmar Ratio Rank: 35
RSBA Martin Ratio Rank: 32

BLNDX

BLNDX Risk / Return Rank: 75
BLNDX Sharpe Ratio Rank: 70
BLNDX Sortino Ratio Rank: 57
BLNDX Omega Ratio Rank: 58
BLNDX Calmar Ratio Rank: 96
BLNDX Martin Ratio Rank: 94

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.

RSBA vs. BLNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Return Stacked Bonds & Merger Arbitrage ETF (RSBA) and Standpoint Multi-Asset Fund Institutional (BLNDX). 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.

	RSBA	BLNDX	Difference
Sharpe ratio Return per unit of total volatility	1.02	2.44	-1.42
Sortino ratio Return per unit of downside risk	1.52	3.19	-1.67
Omega ratio Gain probability vs. loss probability	1.18	1.43	-0.25
Calmar ratio Return relative to maximum drawdown	1.70	6.52	-4.82
Martin ratio Return relative to average drawdown	4.70	20.94	-16.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RSBA vs. BLNDX - Sharpe Ratio Comparison

The current RSBA Sharpe Ratio is 1.02, which is lower than the BLNDX Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of RSBA and BLNDX, 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

	RSBA	BLNDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	2.44	-1.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	1.06	-0.06

Drawdowns

RSBA vs. BLNDX - Drawdown Comparison

The maximum RSBA drawdown since its inception was -2.83%, smaller than the maximum BLNDX drawdown of -17.69%. Use the drawdown chart below to compare losses from any high point for RSBA and BLNDX.

Drawdown Indicators

	RSBA	BLNDX	Difference
Max Drawdown Largest peak-to-trough decline	-2.83%	-17.69%	+14.86%
Max Drawdown (1Y) Largest decline over 1 year	-2.74%	-4.75%	+2.01%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.69%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.69%	—
Current Drawdown Current decline from peak	-1.62%	-1.14%	-0.48%
Average Drawdown Average peak-to-trough decline	-0.81%	-3.19%	+2.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	1.50%	-0.51%

Volatility

RSBA vs. BLNDX - Volatility Comparison

The current volatility for Return Stacked Bonds & Merger Arbitrage ETF (RSBA) is 1.37%, while Standpoint Multi-Asset Fund Institutional (BLNDX) has a volatility of 3.02%. This indicates that RSBA experiences smaller price fluctuations and is considered to be less risky than BLNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSBA	BLNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.37%	3.02%	-1.65%
Volatility (6M) Calculated over the trailing 6-month period	3.27%	9.51%	-6.24%
Volatility (1Y) Calculated over the trailing 1-year period	4.59%	12.72%	-8.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.08%	11.66%	-6.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.08%	11.75%	-6.67%

RSBA vs. BLNDX - Expense Ratio Comparison

RSBA has a 0.96% expense ratio, which is lower than BLNDX's 1.27% expense ratio.

Dividends

RSBA vs. BLNDX - Dividend Comparison

RSBA's dividend yield for the trailing twelve months is around 3.38%, more than BLNDX's 0.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
BLNDX Standpoint Multi-Asset Fund Institutional	0.63%	0.73%	5.74%	3.71%	2.67%	6.11%	1.21%
RSBA Return Stacked Bonds & Merger Arbitrage ETF	3.38%	3.37%	0.01%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RSBA and BLNDX in my portfolio?

RSBA and BLNDX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSBA or BLNDX?

BLNDX has higher volatility (3.02%) compared to RSBA (1.37%). In terms of maximum drawdown, RSBA dropped -2.83% vs BLNDX's -17.69%.

Which has better risk-adjusted returns?

BLNDX currently has the higher Sharpe Ratio (2.44 vs 1.02), 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.