TILT vs. RAVI
TILT (FlexShares Morningstar US Market Factor Tilt Index Fund) and RAVI (FlexShares Ultra-Short Income ETF) are both exchange-traded funds - TILT is a Large Cap Blend Equities fund tracking the Morningstar US Market Factor Tilt Index, while RAVI is a Ultrashort Bond fund actively managed by FlexShares. TILT is passively managed, while RAVI is actively managed. Over the past 10 years, TILT returned 13.96%/yr vs 2.67%/yr for RAVI. At a 0.05 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.
Performance
TILT vs. RAVI - Performance Comparison
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Returns By Period
In the year-to-date period, TILT achieves a 10.68% return, which is significantly higher than RAVI's 1.53% return. Over the past 10 years, TILT has outperformed RAVI with an annualized return of 13.96%, while RAVI has yielded a comparatively lower 2.67% annualized return.
TILT
- 1D
- -0.67%
- 1M
- 4.39%
- YTD
- 10.68%
- 6M
- 10.81%
- 1Y
- 28.46%
- 3Y*
- 20.80%
- 5Y*
- 11.59%
- 10Y*
- 13.96%
RAVI
- 1D
- 0.02%
- 1M
- 0.39%
- YTD
- 1.53%
- 6M
- 1.92%
- 1Y
- 4.50%
- 3Y*
- 5.21%
- 5Y*
- 3.50%
- 10Y*
- 2.67%
TILT vs. RAVI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TILT FlexShares Morningstar US Market Factor Tilt Index Fund | 10.68% | 16.59% | 19.88% | 24.70% | -17.25% | 27.61% | 16.05% | 29.01% | -8.93% | 18.33% |
RAVI FlexShares Ultra-Short Income ETF | 1.53% | 4.98% | 5.67% | 5.55% | 0.15% | -0.04% | 2.06% | 3.49% | 1.65% | 1.22% |
Correlation
The correlation between TILT and RAVI is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016 | 0.05 |
The correlation between TILT and RAVI shifts across timeframes, from 0.03 (1 year) to 0.13 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TILT vs. RAVI — Risk / Return Rank
TILT
RAVI
TILT vs. RAVI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Morningstar US Market Factor Tilt Index Fund (TILT) and FlexShares Ultra-Short Income ETF (RAVI). 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.
| TILT | RAVI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.69 | ||
| Sortino ratioReturn per unit of downside risk | -20.45 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 5.39 | -3.97 |
| Calmar ratioReturn relative to maximum drawdown | 3.36 | 38.66 | -35.30 |
| Martin ratioReturn relative to average drawdown | 14.71 | 225.58 | -210.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TILT | RAVI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.33 | 11.02 | -8.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 2.49 | -1.82 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | 2.09 | -1.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 2.03 | -1.20 |
Drawdowns
TILT vs. RAVI - Drawdown Comparison
The maximum TILT drawdown since its inception was -38.46%, which is greater than RAVI's maximum drawdown of -3.72%. Use the drawdown chart below to compare losses from any high point for TILT and RAVI.
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Drawdown Indicators
| TILT | RAVI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.46% | -3.72% | -34.74% |
Max Drawdown (1Y)Largest decline over 1 year | -8.51% | -0.12% | -8.39% |
Max Drawdown (3Y)Largest decline over 3 years | -19.85% | -0.36% | -19.49% |
Max Drawdown (5Y)Largest decline over 5 years | -24.12% | -3.28% | -20.84% |
Max Drawdown (10Y)Largest decline over 10 years | -38.46% | -3.72% | -34.74% |
Current DrawdownCurrent decline from peak | -0.67% | 0.00% | -0.67% |
Average DrawdownAverage peak-to-trough decline | -4.23% | -0.17% | -4.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.94% | 0.02% | +1.92% |
Volatility
TILT vs. RAVI - Volatility Comparison
FlexShares Morningstar US Market Factor Tilt Index Fund (TILT) has a higher volatility of 3.04% compared to FlexShares Ultra-Short Income ETF (RAVI) at 0.15%. This indicates that TILT's price experiences larger fluctuations and is considered to be riskier than RAVI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TILT | RAVI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.04% | 0.15% | +2.89% |
Volatility (6M)Calculated over the trailing 6-month period | 8.95% | 0.30% | +8.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.29% | 0.41% | +11.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.39% | 1.41% | +15.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.75% | 1.28% | +17.47% |
TILT vs. RAVI - Expense Ratio Comparison
Both TILT and RAVI have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
TILT vs. RAVI - Dividend Comparison
TILT's dividend yield for the trailing twelve months is around 1.07%, less than RAVI's 4.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RAVI FlexShares Ultra-Short Income ETF | 4.38% | 4.59% | 5.34% | 4.55% | 1.70% | 0.90% | 1.29% | 2.53% | 2.22% | 1.28% | 0.90% | 0.00% |
TILT FlexShares Morningstar US Market Factor Tilt Index Fund | 1.07% | 1.15% | 1.23% | 1.44% | 1.60% | 1.16% | 1.49% | 1.54% | 1.97% | 1.55% | 1.60% | 1.98% |
Frequently Asked Questions
TILT and RAVI have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TILT has higher volatility (3.04%) compared to RAVI (0.15%). In terms of maximum drawdown, TILT dropped -38.46% vs RAVI's -3.72%.
On 10-year performance, TILT leads with 13.96% vs 2.67% for RAVI. Both ETFs have the same 0.25% expense ratio. On volatility, RAVI has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TILT has performed better with a 13.96% return vs 2.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TILT and RAVI have the same expense ratio: 0.25% per year.
RAVI has the higher dividend yield at 4.38%, compared with 1.07% for TILT.
TILT is categorized as Large Cap Blend Equities, while RAVI is Ultrashort Bond.
RAVI currently has the higher Sharpe Ratio (11.02 vs 2.33), 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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