SPYG vs. RAAX
SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) and RAAX (VanEck Inflation Allocation ETF) are both exchange-traded funds - SPYG is a S&P 500 fund tracking the S&P 500 Growth Index, while RAAX is a Diversified Portfolio fund actively managed by VanEck. SPYG is passively managed, while RAAX is actively managed. Over the past 5 years, SPYG returned 14.92%/yr vs 13.17%/yr for RAAX. At a 0.40 correlation, their price movements are largely independent. SPYG charges 0.04%/yr vs 0.78%/yr for RAAX.
Performance
SPYG vs. RAAX - Performance Comparison
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Returns By Period
In the year-to-date period, SPYG achieves a 9.70% return, which is significantly lower than RAAX's 17.64% return.
SPYG
- 1D
- 0.41%
- 1M
- -1.24%
- YTD
- 9.70%
- 6M
- 10.60%
- 1Y
- 29.17%
- 3Y*
- 25.85%
- 5Y*
- 14.92%
- 10Y*
- 17.91%
RAAX
- 1D
- 2.26%
- 1M
- -1.84%
- YTD
- 17.64%
- 6M
- 17.56%
- 1Y
- 32.08%
- 3Y*
- 21.35%
- 5Y*
- 13.17%
- 10Y*
- —
SPYG vs. RAAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 9.70% | 22.09% | 35.99% | 30.02% | -29.41% | 32.01% | 33.46% | 30.84% | -0.64% |
RAAX VanEck Inflation Allocation ETF | 17.64% | 26.74% | 12.50% | 6.71% | 1.51% | 21.56% | -8.27% | 6.14% | -2.41% |
Correlation
The correlation between SPYG and RAAX is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2018 | 0.40 |
The correlation between SPYG and RAAX shifts across timeframes, from 0.20 (1 year) to 0.40 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPYG vs. RAAX — Risk / Return Rank
SPYG
RAAX
SPYG vs. RAAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) and VanEck Inflation Allocation ETF (RAAX). 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.
| SPYG | RAAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.43 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 4.68 | -2.67 |
| Martin ratioReturn relative to average drawdown | 8.08 | 16.90 | -8.82 |
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Drawdowns
SPYG vs. RAAX - Drawdown Comparison
The maximum SPYG drawdown since its inception was -67.63%, which is greater than RAAX's maximum drawdown of -33.91%. Use the drawdown chart below to compare losses from any high point for SPYG and RAAX.
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Drawdown Indicators
| SPYG | RAAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.63% | -33.91% | -33.72% |
Max Drawdown (1Y)Largest decline over 1 year | -13.76% | -7.17% | -6.59% |
Max Drawdown (3Y)Largest decline over 3 years | -22.14% | -11.59% | -10.55% |
Max Drawdown (5Y)Largest decline over 5 years | -32.67% | -23.55% | -9.12% |
Max Drawdown (10Y)Largest decline over 10 years | -32.67% | — | — |
Current DrawdownCurrent decline from peak | -4.65% | -3.77% | -0.88% |
Average DrawdownAverage peak-to-trough decline | -24.30% | -6.77% | -17.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.42% | 1.98% | +1.44% |
Volatility
SPYG vs. RAAX - Volatility Comparison
State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) has a higher volatility of 6.33% compared to VanEck Inflation Allocation ETF (RAAX) at 4.67%. This indicates that SPYG's price experiences larger fluctuations and is considered to be riskier than RAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYG | RAAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.33% | 4.67% | +1.66% |
Volatility (6M)Calculated over the trailing 6-month period | 13.48% | 12.21% | +1.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.81% | 14.18% | +2.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.27% | 15.70% | +5.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.70% | 15.79% | +4.91% |
SPYG vs. RAAX - Expense Ratio Comparison
SPYG has a 0.04% expense ratio, which is lower than RAAX's 0.78% expense ratio.
Dividends
SPYG vs. RAAX - Dividend Comparison
SPYG's dividend yield for the trailing twelve months is around 0.48%, less than RAAX's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RAAX VanEck Inflation Allocation ETF | 1.99% | 2.34% | 1.91% | 3.66% | 1.53% | 8.72% | 6.27% | 2.37% | 0.56% | 0.00% | 0.00% | 0.00% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 0.48% | 0.52% | 0.60% | 1.15% | 1.03% | 0.62% | 0.90% | 1.37% | 1.51% | 1.41% | 1.55% | 1.57% |
Frequently Asked Questions
SPYG and RAAX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPYG has higher volatility (6.33%) compared to RAAX (4.67%). In terms of maximum drawdown, SPYG dropped -67.63% vs RAAX's -33.91%.
On 5-year performance, SPYG leads with 14.92% vs 13.17% for RAAX. On fees, SPYG is cheaper at 0.04% per year. On volatility, RAAX has been the lower-risk option at 4.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPYG has performed better with a 14.92% return vs 13.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYG is cheaper with a 0.04% expense ratio, compared with 0.78% for RAAX.
RAAX has the higher dividend yield at 1.99%, compared with 0.48% for SPYG.
SPYG is categorized as S&P 500, while RAAX is Diversified Portfolio. They also come from different issuers: State Street and VanEck. Their fees differ too: 0.04% for SPYG and 0.78% for RAAX.
RAAX currently has the higher Sharpe Ratio (2.37 vs 1.65), 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.
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