RSBT vs. IRONX

Last updated Jun 23, 2026

RSBT (Return Stacked Bonds & Managed Futures ETF) and IRONX (Ironclad Managed Risk Fund) are both funds - RSBT is a Nontraditional Bonds fund actively managed by Return Stacked, while IRONX is a Options Trading fund managed by BlackRock. Over the past 3 years, RSBT returned 3.38%/yr vs 11.13%/yr for IRONX. At a 0.47 correlation, their price movements are largely independent. RSBT charges 0.97%/yr vs 1.25%/yr for IRONX.

Performance

RSBT vs. IRONX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Return Stacked Bonds & Managed Futures ETF (RSBT) and Ironclad Managed Risk Fund (IRONX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSBT achieves a 6.76% return, which is significantly higher than IRONX's 4.23% return.

RSBT

• 1D: -0.26%
• 1M: -1.49%
• YTD: 6.76%
• 6M: 5.94%
• 1Y: 24.65%
• 3Y*: 3.38%
• 5Y*: —
• 10Y*: —

IRONX

• 1D: 0.36%
• 1M: -0.64%
• YTD: 4.23%
• 6M: 3.77%
• 1Y: 13.48%
• 3Y*: 11.13%
• 5Y*: 9.66%
• 10Y*: 26.68%

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

RSBT vs. IRONX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
RSBT Return Stacked Bonds & Managed Futures ETF	6.76%	10.31%	-2.90%	-11.85%
IRONX Ironclad Managed Risk Fund	4.23%	10.57%	14.78%	6.71%

Correlation

The correlation between RSBT and IRONX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (All Time) Calculated using the full available price history since Feb 8, 2023	0.47

The correlation between RSBT and IRONX has been stable across timeframes, ranging from 0.47 to 0.51 - a consistent structural relationship.

Return for Risk

RSBT vs. IRONX — Risk / Return Rank

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

RSBT

RSBT Risk / Return Rank: 56
RSBT Sharpe Ratio Rank: 50
RSBT Sortino Ratio Rank: 44
RSBT Omega Ratio Rank: 52
RSBT Calmar Ratio Rank: 78
RSBT Martin Ratio Rank: 58

IRONX

IRONX Risk / Return Rank: 36
IRONX Sharpe Ratio Rank: 36
IRONX Sortino Ratio Rank: 33
IRONX Omega Ratio Rank: 34
IRONX Calmar Ratio Rank: 38
IRONX Martin Ratio Rank: 40

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.

RSBT vs. IRONX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Return Stacked Bonds & Managed Futures ETF (RSBT) and Ironclad Managed Risk Fund (IRONX). 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.

	RSBT	IRONX	Difference
Sharpe ratio: Return per unit of total volatility	1.69	1.61	+0.08
Sortino ratio: Return per unit of downside risk	2.17	2.22	-0.05
Omega ratio: Gain probability vs. loss probability	1.32	1.28	+0.03
Calmar ratio: Return relative to maximum drawdown	3.91	2.21	+1.70
Martin ratio: Return relative to average drawdown	9.89	8.18	+1.71

RSBT vs. IRONX - Sharpe Ratio Comparison

The current RSBT Sharpe Ratio is 1.69, which is comparable to the IRONX Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of RSBT and IRONX, 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

RSBT vs. IRONX - Drawdown Comparison

The maximum RSBT drawdown since its inception was -23.60%, which is greater than IRONX's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for RSBT and IRONX.

Drawdown Indicators

	RSBT	IRONX	Difference
Max Drawdown Largest peak-to-trough decline	-23.60%	-13.71%	-9.89%
Max Drawdown (1Y) Largest decline over 1 year	-6.33%	-5.99%	-0.34%
Max Drawdown (3Y) Largest decline over 3 years	-18.98%	-11.68%	-7.30%
Max Drawdown (5Y) Largest decline over 5 years	—	-11.68%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-13.71%	—
Current Drawdown Current decline from peak	-3.53%	-1.20%	-2.33%
Average Drawdown Average peak-to-trough decline	-12.50%	-1.78%	-10.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	1.62%	+0.88%

Volatility

RSBT vs. IRONX - Volatility Comparison

Return Stacked Bonds & Managed Futures ETF (RSBT) has a higher volatility of 5.58% compared to Ironclad Managed Risk Fund (IRONX) at 2.15%. This indicates that RSBT's price experiences larger fluctuations and is considered to be riskier than IRONX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSBT	IRONX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.58%	2.15%	+3.43%
Volatility (6M) Calculated over the trailing 6-month period	11.00%	6.08%	+4.92%
Volatility (1Y) Calculated over the trailing 1-year period	14.69%	8.26%	+6.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.84%	9.47%	+4.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.84%	40.74%	-26.90%

RSBT vs. IRONX - Expense Ratio Comparison

RSBT has a 0.97% expense ratio, which is lower than IRONX's 1.25% expense ratio.

Dividends

RSBT vs. IRONX - Dividend Comparison

RSBT's dividend yield for the trailing twelve months is around 3.00%, more than IRONX's 0.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IRONX Ironclad Managed Risk Fund	0.06%	0.06%	0.19%	5.17%	2.97%	13.84%	4.16%	121.75%	8.85%	9.93%	1.42%	0.38%
RSBT Return Stacked Bonds & Managed Futures ETF	3.00%	3.20%	0.00%	2.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RSBT and IRONX in my portfolio?

RSBT and IRONX 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.

Which is riskier, RSBT or IRONX?

RSBT has higher volatility (5.58%) compared to IRONX (2.15%). In terms of maximum drawdown, RSBT dropped -23.60% vs IRONX's -13.71%.

Which has better risk-adjusted returns?

RSBT currently has the higher Sharpe Ratio (1.69 vs 1.60), 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.