USEW vs. RAFE

Last updated Jul 12, 2026

USEW (Cambria U.S. Equal Weight ETF) and RAFE (PIMCO RAFI ESG U.S. ETF) are both Large Cap Blend Equities funds. USEW is actively managed, while RAFE is passively managed. Their correlation of 0.87 suggests significant overlap in exposure. USEW charges 0.25%/yr vs 0.30%/yr for RAFE.

Performance

USEW vs. RAFE - Performance Comparison

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

Returns By Period

In the year-to-date period, USEW achieves a 11.02% return, which is significantly lower than RAFE's 15.78% return.

USEW

• 1D: 0.29%
• 1M: 2.79%
• 6M: 8.79%
• YTD: 11.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

RAFE

• 1D: 0.19%
• 1M: 1.65%
• 6M: 13.43%
• YTD: 15.78%
• 1Y: 28.14%
• 3Y*: 19.01%
• 5Y*: 11.46%
• 10Y*: —

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

USEW vs. RAFE - Yearly Performance Comparison

	2026 (YTD)	2025
USEW Cambria U.S. Equal Weight ETF	11.02%	0.51%
RAFE PIMCO RAFI ESG U.S. ETF	15.78%	0.92%

Correlation

The correlation between USEW and RAFE is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.87

Return for Risk

USEW vs. RAFE — Risk / Return Rank

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

USEW

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

RAFE

RAFE Risk / Return Rank: 88
RAFE Sharpe Ratio Rank: 90
RAFE Sortino Ratio Rank: 90
RAFE Omega Ratio Rank: 87
RAFE Calmar Ratio Rank: 84
RAFE Martin Ratio Rank: 86

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.

USEW vs. RAFE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cambria U.S. Equal Weight ETF (USEW) 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.

	USEW	RAFE	Difference
Sharpe ratio: Return per unit of total volatility	—	2.39	—
Sortino ratio: Return per unit of downside risk	—	3.35	—
Omega ratio: Gain probability vs. loss probability	—	1.43	—
Calmar ratio: Return relative to maximum drawdown	—	3.64	—
Martin ratio: Return relative to average drawdown	—	14.19	—

Drawdowns

USEW vs. RAFE - Drawdown Comparison

The maximum USEW drawdown since its inception was -7.85%, smaller than the maximum RAFE drawdown of -35.74%. Use the drawdown chart below to compare losses from any high point for USEW and RAFE.

Drawdown Indicators

	USEW	RAFE	Difference
Max Drawdown Largest peak-to-trough decline	-7.85%	-35.74%	+27.89%
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	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.24%	-6.13%	+4.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.92%	—

Volatility

Volatility by Period

	USEW	RAFE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.10%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.60%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.69%	11.37%	+1.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.69%	15.06%	-2.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.69%	19.33%	-6.64%

USEW vs. RAFE - Expense Ratio Comparison

USEW has a 0.25% expense ratio, which is lower than RAFE's 0.30% expense ratio.

Dividends

USEW vs. RAFE - Dividend Comparison

USEW's dividend yield for the trailing twelve months is around 0.55%, less than RAFE's 1.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
RAFE PIMCO RAFI ESG U.S. ETF	1.49%	1.67%	1.79%	1.81%	2.22%	1.42%	2.36%
USEW Cambria U.S. Equal Weight ETF	0.55%	0.13%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USEW and RAFE in my portfolio?

USEW and RAFE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USEW or RAFE?

On fees, USEW is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USEW or RAFE?

USEW is cheaper with a 0.25% expense ratio, compared with 0.30% for RAFE.

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

RAFE has the higher dividend yield at 1.49%, compared with 0.55% for USEW.

What is the main difference between USEW and RAFE?

They also come from different issuers: Cambria and PIMCO. Their fees differ too: 0.25% for USEW and 0.30% for RAFE.