RW vs. SHEH

Last updated Aug 1, 2026

RW (Rainwater Equity ETF) and SHEH (Shell plc ADRhedged ETF) are both exchange-traded funds - RW is a Global Equities fund actively managed by Alpha Architect, while SHEH is a Energy Equities fund tracking the Shell plc - Benchmark Price Return. RW is actively managed, while SHEH is passively managed. Over the past year, RW returned -2.39% vs 28.64% for SHEH. Their -0.20 correlation means they have often moved in opposite directions in the past. RW charges 1.25%/yr vs 0.19%/yr for SHEH.

Performance

RW vs. SHEH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rainwater Equity ETF (RW) and Shell plc ADRhedged ETF (SHEH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RW achieves a 1.78% return, which is significantly lower than SHEH's 25.94% return.

RW

• 1D: 0.18%
• 1M: -1.46%
• 6M: 0.34%
• YTD: 1.78%
• 1Y: -2.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 1.19%

SHEH

• 1D: 1.60%
• 1M: 16.32%
• 6M: 22.14%
• YTD: 25.94%
• 1Y: 28.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 31.67%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RW Rainwater Equity ETF	$44.56K	$41.45K	$44.87K
SHEH Shell plc ADRhedged ETF	$787.46K	$653.61K	$317.20K

RW vs. SHEH - Yearly Performance Comparison

	2026 (YTD)	2025
RW Rainwater Equity ETF	1.78%	-0.44%
SHEH Shell plc ADRhedged ETF	25.94%	2.86%

Correlation

The correlation between RW and SHEH is -0.19, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.19
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	-0.20

RW vs. SHEH - Sectors Allocation Comparison

Sectors	RW	SHEH
Industrials	48.9%	-
Technology	23.5%	-
Financial Services	10.0%	-
Consumer Cyclical	7.9%	-
Communication Services	3.9%	-
Basic Materials	3.0%	-
Healthcare	2.0%	-
Consumer Defensive	0.2%	-
Utilities	0.2%	-
Real Estate	0.2%	-
Energy	0.1%	96.5%

Return for Risk

RW vs. SHEH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RW

RW Risk / Return Rank: 8
RW Sharpe Ratio Rank: 8
RW Sortino Ratio Rank: 7
RW Omega Ratio Rank: 7
RW Calmar Ratio Rank: 8
RW Martin Ratio Rank: 7

SHEH

SHEH Risk / Return Rank: 48
SHEH Sharpe Ratio Rank: 55
SHEH Sortino Ratio Rank: 52
SHEH Omega Ratio Rank: 51
SHEH Calmar Ratio Rank: 44
SHEH Martin Ratio Rank: 40

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RW vs. SHEH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rainwater Equity ETF (RW) and Shell plc ADRhedged ETF (SHEH). 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.

	RW	SHEH	Difference
Sharpe ratio: Return per unit of total volatility	-0.22	1.34	-1.56
Sortino ratio: Return per unit of downside risk	-0.21	1.87	-2.07
Omega ratio: Gain probability vs. loss probability	0.98	1.23	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.21	1.60	-1.80
Martin ratio: Return relative to average drawdown	-0.59	4.36	-4.95

RW vs. SHEH - Sharpe Ratio Comparison

The current RW Sharpe Ratio is -0.22, which is lower than the SHEH Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of RW and SHEH, 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

RW vs. SHEH - Drawdown Comparison

The maximum RW drawdown since its inception was -17.04%, roughly equal to the maximum SHEH drawdown of -17.53%. Use the drawdown chart below to compare losses from any high point for RW and SHEH.

Drawdown Indicators

	RW	SHEH	Difference
Max Drawdown Largest peak-to-trough decline	-17.04%	-17.53%	+0.49%
Max Drawdown (1Y) Largest decline over 1 year	-17.02%	-17.53%	+0.51%
Current Drawdown Current decline from peak	-4.34%	-2.90%	-1.44%
Average Drawdown Average peak-to-trough decline	-5.07%	-4.14%	-0.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.01%	6.41%	-0.40%

Volatility

RW vs. SHEH - Volatility Comparison

The current volatility for Rainwater Equity ETF (RW) is 3.96%, while Shell plc ADRhedged ETF (SHEH) has a volatility of 6.72%. This indicates that RW experiences smaller price fluctuations and is considered to be less risky than SHEH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RW	SHEH	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	6.72%	-2.76%
Volatility (6M) Calculated over the trailing 6-month period	13.22%	17.32%	-4.10%
Volatility (1Y) Calculated over the trailing 1-year period	15.81%	20.97%	-5.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.48%	20.55%	-5.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.48%	20.55%	-5.07%

RW vs. SHEH - Expense Ratio Comparison

RW has a 1.25% expense ratio, which is higher than SHEH's 0.19% expense ratio.

Dividends

RW vs. SHEH - Dividend Comparison

RW's dividend yield for the trailing twelve months is around 0.10%, less than SHEH's 1.84% yield.

Position	TTM	2025
RW Rainwater Equity ETF	0.10%	0.10%
SHEH Shell plc ADRhedged ETF	1.84%	0.00%

Frequently Asked Questions

Can I hold both RW and SHEH in my portfolio?

RW and SHEH have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RW or SHEH?

SHEH has higher volatility (6.72%) compared to RW (3.96%). In terms of maximum drawdown, RW dropped -17.04% vs SHEH's -17.53%.

Which ETF is better, RW or SHEH?

On 1-year performance, SHEH leads with 28.64% vs -2.39% for RW. On fees, SHEH is cheaper at 0.19% per year. On volatility, RW has been the lower-risk option at 3.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RW or SHEH?

Over the 1-year period, SHEH has performed better with a 28.64% return vs -2.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RW or SHEH?

SHEH is cheaper with a 0.19% expense ratio, compared with 1.25% for RW.

Which ETF pays a higher dividend yield, RW or SHEH?

SHEH has the higher dividend yield at 1.84%, compared with 0.10% for RW.

What is the main difference between RW and SHEH?

RW is categorized as Global Equities, while SHEH is Energy Equities. They also come from different issuers: Alpha Architect and ADRhedged. Their fees differ too: 1.25% for RW and 0.19% for SHEH.

Which has better risk-adjusted returns?

SHEH currently has the higher Sharpe Ratio (1.34 vs -0.22), 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.