RWLC vs. CLIP

Last updated Jun 4, 2026

RWLC (Rayliant Wilshire NxtGen US Large Cap Equity ETF) and CLIP (Global X 1-3 Month T-Bill ETF) are both exchange-traded funds - RWLC is a Large Cap Blend Equities fund tracking the S&P 500, while CLIP is a Ultrashort Bond fund tracking the Solactive 1-3 month US T-Bill Index - USD. Both are passively managed. Over the past year, RWLC returned 21.97% vs 3.96% for CLIP. At a correlation of -0.01, they often move in opposite directions. RWLC charges 0.32%/yr vs 0.07%/yr for CLIP.

Performance

RWLC vs. CLIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rayliant Wilshire NxtGen US Large Cap Equity ETF (RWLC) and Global X 1-3 Month T-Bill ETF (CLIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RWLC achieves a 12.91% return, which is significantly higher than CLIP's 1.50% return.

RWLC

• 1D: -0.44%
• 1M: 6.22%
• YTD: 12.91%
• 6M: 15.36%
• 1Y: 21.97%
• 3Y*: 24.01%
• 5Y*: —
• 10Y*: —

CLIP

• 1D: 0.01%
• 1M: 0.28%
• YTD: 1.50%
• 6M: 1.82%
• 1Y: 3.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RWLC vs. CLIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
RWLC Rayliant Wilshire NxtGen US Large Cap Equity ETF	12.91%	20.23%	28.58%	7.40%
CLIP Global X 1-3 Month T-Bill ETF	1.50%	4.23%	5.26%	2.82%

Correlation

The correlation between RWLC and CLIP is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.11
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	-0.01

Return for Risk

RWLC vs. CLIP — Risk / Return Rank

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

RWLC

RWLC Risk / Return Rank: 49
RWLC Sharpe Ratio Rank: 46
RWLC Sortino Ratio Rank: 49
RWLC Omega Ratio Rank: 47
RWLC Calmar Ratio Rank: 49
RWLC Martin Ratio Rank: 52

CLIP

CLIP Risk / Return Rank: 100
CLIP Sharpe Ratio Rank: 100
CLIP Sortino Ratio Rank: 100
CLIP Omega Ratio Rank: 100
CLIP Calmar Ratio Rank: 100
CLIP Martin Ratio Rank: 100

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.

RWLC vs. CLIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rayliant Wilshire NxtGen US Large Cap Equity ETF (RWLC) and Global X 1-3 Month T-Bill ETF (CLIP). 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.

	RWLC	CLIP	Difference
Sharpe ratio: Return per unit of total volatility	1.59	17.26	-15.67
Sortino ratio: Return per unit of downside risk	2.39	72.02	-69.63
Omega ratio: Gain probability vs. loss probability	1.29	20.66	-19.37
Calmar ratio: Return relative to maximum drawdown	2.36	142.22	-139.86
Martin ratio: Return relative to average drawdown	8.78	1,151.15	-1,142.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RWLC vs. CLIP - Sharpe Ratio Comparison

The current RWLC Sharpe Ratio is 1.59, which is lower than the CLIP Sharpe Ratio of 17.26. The chart below compares the historical Sharpe Ratios of RWLC and CLIP, 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

	RWLC	CLIP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	17.26	-15.67
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	10.71	-9.86

Drawdowns

RWLC vs. CLIP - Drawdown Comparison

The maximum RWLC drawdown since its inception was -21.00%, which is greater than CLIP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for RWLC and CLIP.

Drawdown Indicators

	RWLC	CLIP	Difference
Max Drawdown Largest peak-to-trough decline	-21.00%	-0.08%	-20.92%
Max Drawdown (1Y) Largest decline over 1 year	-9.33%	-0.03%	-9.30%
Max Drawdown (3Y) Largest decline over 3 years	-16.20%	—	—
Current Drawdown Current decline from peak	-0.44%	0.00%	-0.44%
Average Drawdown Average peak-to-trough decline	-5.43%	-0.00%	-5.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	0.00%	+2.51%

Volatility

RWLC vs. CLIP - Volatility Comparison

Rayliant Wilshire NxtGen US Large Cap Equity ETF (RWLC) has a higher volatility of 2.66% compared to Global X 1-3 Month T-Bill ETF (CLIP) at 0.06%. This indicates that RWLC's price experiences larger fluctuations and is considered to be riskier than CLIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWLC	CLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.66%	0.06%	+2.60%
Volatility (6M) Calculated over the trailing 6-month period	10.97%	0.14%	+10.83%
Volatility (1Y) Calculated over the trailing 1-year period	13.88%	0.23%	+13.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.48%	0.44%	+16.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.48%	0.44%	+16.04%

RWLC vs. CLIP - Expense Ratio Comparison

RWLC has a 0.32% expense ratio, which is higher than CLIP's 0.07% expense ratio.

Dividends

RWLC vs. CLIP - Dividend Comparison

RWLC's dividend yield for the trailing twelve months is around 13.01%, more than CLIP's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021
CLIP Global X 1-3 Month T-Bill ETF	3.91%	4.14%	5.11%	2.75%	0.00%	0.00%
RWLC Rayliant Wilshire NxtGen US Large Cap Equity ETF	13.01%	14.69%	0.98%	1.63%	1.39%	0.01%

Frequently Asked Questions

Can I hold both RWLC and CLIP in my portfolio?

RWLC and CLIP have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RWLC or CLIP?

RWLC has higher volatility (2.66%) compared to CLIP (0.06%). In terms of maximum drawdown, RWLC dropped -21.00% vs CLIP's -0.08%.

Which ETF is better, RWLC or CLIP?

On 1-year performance, RWLC leads with 21.97% vs 3.96% for CLIP. On fees, CLIP is cheaper at 0.07% per year. On volatility, CLIP has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RWLC or CLIP?

Over the 1-year period, RWLC has performed better with a 21.97% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RWLC or CLIP?

CLIP is cheaper with a 0.07% expense ratio, compared with 0.32% for RWLC.

Which ETF pays a higher dividend yield, RWLC or CLIP?

RWLC has the higher dividend yield at 13.01%, compared with 3.91% for CLIP.

What is the main difference between RWLC and CLIP?

RWLC is categorized as Large Cap Blend Equities, while CLIP is Ultrashort Bond. RWLC tracks S&P 500, while CLIP tracks Solactive 1-3 month US T-Bill Index - USD. They also come from different issuers: Rayliant and Global X. Their fees differ too: 0.32% for RWLC and 0.07% for CLIP.

Which has better risk-adjusted returns?

CLIP currently has the higher Sharpe Ratio (17.26 vs 1.59), 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.