TOS vs. RAFE

Last updated Jun 27, 2026

TOS (Twin Oak Strategic Solutions ETF) and RAFE (PIMCO RAFI ESG U.S. ETF) are both Large Cap Blend Equities funds. TOS is actively managed, while RAFE is passively managed. A 0.69 correlation means they provide meaningful diversification when combined. TOS charges 0.76%/yr vs 0.30%/yr for RAFE.

Performance

TOS vs. RAFE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Twin Oak Strategic Solutions ETF (TOS) and PIMCO RAFI ESG U.S. ETF (RAFE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TOS

• 1D: -0.72%
• 1M: 0.34%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

RAFE

• 1D: 0.35%
• 1M: 2.63%
• YTD: 14.41%
• 6M: 13.20%
• 1Y: 28.90%
• 3Y*: 19.01%
• 5Y*: 11.31%
• 10Y*: —

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

TOS vs. RAFE - Yearly Performance Comparison

	2026 (YTD)
TOS Twin Oak Strategic Solutions ETF	18.66%
RAFE PIMCO RAFI ESG U.S. ETF	12.53%

Correlation

The correlation between TOS and RAFE is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 28, 2026	0.69

Return for Risk

TOS vs. RAFE — Risk / Return Rank

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

TOS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

RAFE

RAFE Risk / Return Rank: 86
RAFE Sharpe Ratio Rank: 89
RAFE Sortino Ratio Rank: 89
RAFE Omega Ratio Rank: 86
RAFE Calmar Ratio Rank: 83
RAFE Martin Ratio Rank: 85

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.

TOS vs. RAFE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Twin Oak Strategic Solutions ETF (TOS) and PIMCO RAFI ESG U.S. ETF (RAFE). 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.

	TOS	RAFE	Difference
Sharpe ratio: Return per unit of total volatility	—	2.54	—
Sortino ratio: Return per unit of downside risk	—	3.53	—
Omega ratio: Gain probability vs. loss probability	—	1.45	—
Calmar ratio: Return relative to maximum drawdown	—	3.89	—
Martin ratio: Return relative to average drawdown	—	15.04	—

Drawdowns

TOS vs. RAFE - Drawdown Comparison

The maximum TOS drawdown since its inception was -11.72%, smaller than the maximum RAFE drawdown of -35.74%. Use the drawdown chart below to compare losses from any high point for TOS and RAFE.

Drawdown Indicators

	TOS	RAFE	Difference
Max Drawdown Largest peak-to-trough decline	-11.72%	-35.74%	+24.02%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.46%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.36%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.28%	—
Current Drawdown Current decline from peak	-3.23%	-0.42%	-2.81%
Average Drawdown Average peak-to-trough decline	-2.51%	-6.16%	+3.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.93%	—

Volatility

Volatility by Period

	TOS	RAFE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.73%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.70%	—
Volatility (1Y) Calculated over the trailing 1-year period	26.53%	11.45%	+15.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.53%	15.09%	+11.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.53%	19.38%	+7.15%

TOS vs. RAFE - Expense Ratio Comparison

TOS has a 0.76% expense ratio, which is higher than RAFE's 0.30% expense ratio.

Dividends

TOS vs. RAFE - Dividend Comparison

TOS has not paid dividends to shareholders, while RAFE's dividend yield for the trailing twelve months is around 1.48%.

Position	TTM	2025	2024	2023	2022	2021	2020
RAFE PIMCO RAFI ESG U.S. ETF	1.48%	1.67%	1.79%	1.81%	2.22%	1.42%	2.36%
TOS Twin Oak Strategic Solutions ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TOS and RAFE in my portfolio?

TOS and RAFE have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TOS or RAFE?

On fees, RAFE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TOS or RAFE?

RAFE is cheaper with a 0.30% expense ratio, compared with 0.76% for TOS.

Which ETF pays a higher dividend yield, TOS or RAFE?

RAFE has the higher dividend yield at 1.48%, compared with 0.00% for TOS.

What is the main difference between TOS and RAFE?

They also come from different issuers: Twin Oak ETF Company and PIMCO. Their fees differ too: 0.76% for TOS and 0.30% for RAFE.