IRTR vs RAA: Grades, Fees and Holdings Compared

iShares LifePath Retirement ETF

IRTRANYSE Arca

SMI 3Fourteen REAL Asset Allocation ETF

RAABNasdaq

Overlap

12.4%by weight

Expense ratio

IRTR −0.77pt a year

IRTR0.08%RAA0.85%

Avg volume · 30D

RAA 3.4×the volume

IRTR12.7KRAA43.6K

IRTR vs RAA Performance

Oct 31, 2025 – Oct 30, 2026

+5.1%IRTR+10.2%RAA

Expense ratio: IRTR 0.08%, better; RAA 0.85%
Fund size: IRTR $60M; RAA $645M
1Y total return: IRTR +5.1%; RAA +10.2%, better
Yield (12M): IRTR 3.17%, better; RAA 2.09%
Holdings: IRTR 29140; RAA 181
Avg volume (30D): IRTR 12.7K sh; RAA 43.6K sh, better
NAV per share: IRTR $31.52; RAA $30.27
52W range

ETF.net Grade

Pillar letters and Scores for IRTR, RAA, with each pillar’s weight
Pillar	IRTR	RAA
Cost30% weight	A97Higher	F22
Mission25% weight	A100Higher	A83
Risk15% weight	A82Higher	B61
Tradability15% weight	B62	A74Higher
Holdings10% weight	A80Higher	A73
Durability5% weight	B56	A70Higher

Rank among Multi-Asset Allocation funds

How we build Categories ›

Same Category. IRTR and RAA are both graded against the same 37 Multi-Asset Allocation funds, so their Grades compare head to head.

Multi-Asset Allocation⁠

Category · 37 funds

See all 37 ›

IRTR ranks 3rd and RAA 14th of 37 funds in the Multi-Asset Allocation Category.

Rank 1AUCBGState Street SPDR UC Investments 90/10 Endowment Strategy Index ETFScore 95
Rank 2AAOAiShares Core 80/20 Aggressive Allocation ETFScore 88
Rank 3AIRTRiShares LifePath Retirement ETFScore 86
Rank 4AINCEFranklin Income Equity Focus ETFScore 74
Rank 14BELMElm Market Navigator ETFScore 58
Rank 14BRAASMI 3Fourteen REAL Asset Allocation ETFScore 58
Rank 16BRAAXVanEck Real Assets ETFScore 57

Our read on each fund

ETF.net Research

IRTRAiShares LifePath Retirement ETF

RAABSMI 3Fourteen REAL Asset Allocation ETF

In short

IRTR A whole retirement portfolio in one ticker: global stock and bond ETFs blended at the conservative end, for 0.08% a year. That is index-fund pricing on a job most allocation funds charge roughly ten times more to do.

RAA Most allocation ETFs pick a stock/bond mix and coast. RAA runs a model that rechecks the split monthly and can pivot into alternatives: gold, commodities, energy shares, even managed futures.

Stated mandate

IRTR The fund seeks conservative exposure through a broad portfolio of stock and bond ETFs spanning global asset classes.

RAA The actively managed fund uses the proprietary REAL Asset Allocation strategy to dynamically divide assets among stocks, bonds, and alternatives, reassessing allocations monthly and rebalancing as the model changes.

Why people hold it

IRTR Costs 0.08% a year against a 0.78% median for allocation funds. Roughly a tenth of the going rate for a portfolio-in-a-box.
One line item, global coverage. The fund holds a spread of stock and bond ETFs across asset classes, so the mixing happens inside the wrapper.ishares.com
Distributions come monthly rather than quarterly.
One of the strongest all-in-one allocation funds in its peer group, and the cheapest of that top tier: iShares' own AOA runs 0.19%.

RAA Three sleeves, not two. Stocks, bonds and alternatives, with allocations reassessed monthly and rebalanced when the model moves.
The alternatives bucket has real range: commodities, gold, energy equities and managed futures, including strategies that can short bonds.sec.gov
Trend-following at its core. The mix follows the model's read of conditions rather than a fixed 60/40 or a birthday-based glide path.
Stays close to the mandate written in its filings, and stands among the stronger entries in a crowded allocation field. Pays quarterly.

Worth knowing

IRTR Thinly traded. Spreads can run wider than on household-name ETFs, so limit orders matter more here.
Launched in 2023, so the track record is short and the fund is still building scale.
Conservative by construction: it is built to move less than an all-stock portfolio, and that cuts in both directions.ishares.com

RAA 0.85% a year is above the typical allocation ETF and far above index-built rivals such as AOA (0.19%) and NTSX (0.20%). Active tilting is the thing you're paying for.
Discretionary by design. The allocation comes from a proprietary model, not a published index you can look up and track yourself.
Young fund, short live record. There isn't yet a full market cycle to show how the model handles a real regime change.sec.gov

Full IRTR profile⁠

Full RAA profile⁠

IRTR vs RAA Holdings

How IRTR and RAA differ

Overlap by weight

12.4%

Shared holdings make up 26.0% of RAA and 13.7% of IRTR.

Level by level

Holdings141 in both12.4%
Countryby domicile88.4%

Sector

No Sector split for RAA.

Country, concentration and asset class

Country by domicile

Country weights in IRTR and RAA, widest gap first
Country	More in IRTRMore in RAA	IRTR	RAA
United States	IRTR +8.7 points	92.7%	84.0%
Canada	RAA +2.9 points	1.6%	4.5%
Saudi Arabia	RAA +2.8 points	0.0%	2.8%
Japan	IRTR +1.5 points	2.6%	1.1%
Australia	RAA +0.9 points	0.0%	0.9%
Taiwan	IRTR +0.7 points	1.4%	0.7%
United Kingdom	IRTR +0.6 points	1.7%	1.1%
Switzerland	RAA +0.6 points	0.0%	0.6%
Other countries (30)	RAA +4.5 points	0.0%	4.5%

Concentration

Weight in the 10 largest Holdings

IRTR10.0%
RAA61.1%

Securities held

IRTR29,043
RAA180

Asset class

IRTR: Multi-Asset
RAA: Multi-Asset

Holdings

Only in IRTR28,902
In both141
Only in RAA39

Only in IRTR

28,902 securities, 85.8% of IRTR by weight

Treasury Note 1.38% 11/15/2031 (Tnote)1.28%
Treasury Note 2.63% 02/15/2029 (Tnote)0.76%
Treasury Note 3.13% 11/15/2028 (Tnote)0.54%
Treasury (Cpi) Note 1.13% 10/15/2030 (Tips)0.54%
Treasury (Cpi) Note 1.25% 04/15/2031 (Tips)0.54%
Taiwan Semiconductor Manufacturing0.53%
Treasury (Cpi) Note 1.63% 04/15/2030 (Tips)0.52%
Treasury (Cpi) Note 1.63% 10/15/2029 (Tips)0.51%
Treasury Note 2.75% 02/15/2028 (Tnote)0.50%
Treasury (Cpi) Note 2.13% 04/15/2029 (Tips)0.49%
Treasury (Cpi) Note 2.38% 10/15/2028 (Tips)0.49%
Treasury (Cpi) Note 1.63% 10/15/2027 (Tips)0.48%
Treasury (Cpi) Note 1.25% 04/15/2028 (Tips)0.47%
Treasury (Cpi) Note 0.13% 04/15/2027 (Tips)0.47%
Treasury (Cpi) Note 0.13% 01/15/2031 (Tips)0.46%
Treasury (Cpi) Note 0.13% 07/15/2031 (Tips)0.46%
Treasury (Cpi) Note 0.13% 07/15/2030 (Tips)0.44%
Treasury (Cpi) Note 0.38% 07/15/2027 (Tips)0.43%
Treasury (Cpi) Note 0.50% 01/15/2028 (Tips)0.43%
Treasury Bond 2.50% 05/15/2046 (Tbond)0.42%
Treasury Note 2.88% 05/15/2028 (Tnote)0.42%
Treasury Bond 3.75% 11/15/2043 (Tbond)0.41%
Treasury (Cpi) Note 0.13% 01/15/2030 (Tips)0.40%
Treasury Bond 2.75% 11/15/2042 (Tbond)0.40%
Eli Lilly0.38%
Treasury (Cpi) Note 0.38% 01/15/2027 (Tips)0.37%
Treasury (Cpi) Note 0.75% 07/15/2028 (Tips)0.36%
Treasury Bond 6.13% 11/15/2027 (Tbond)0.36%
Treasury (Cpi) Note 0.25% 07/15/2029 (Tips)0.36%
Berkshire Hathaway Inc Class B0.34%
Treasury Bond 1.88% 02/15/2051 (Tbond)0.34%
Treasury (Cpi) Note 0.88% 01/15/2029 (Tips)0.31%
Treasury Note 4.00% 05/31/2028 (Tnote)0.31%
JPMorgan Chase & Co0.30%
Treasury Note (Old) 4.38% 05/15/2036 (Tnote)0.28%
Treasury Note 2.38% 05/15/2029 (Tnote)0.28%
Treasury Note 4.00% 05/31/2030 (Tnote)0.26%
Treasury Note 4.00% 02/29/2028 (Tnote)0.25%
Treasury Note 4.00% 02/15/2034 (Tnote)0.25%
Treasury Note 3.88% 03/31/2028 (Tnote)0.25%
Treasury Note 1.25% 09/30/2028 (Tnote)0.25%
Treasury (Cpi) Note 2.25% 10/15/2031 (Tips)0.25%
Treasury Note 4.00% 02/28/2030 (Tnote)0.24%
Treasury Note 4.38% 05/15/2034 (Tnote)0.24%
Visa Class A0.24%
Treasury Note 3.88% 08/15/2034 (Tnote)0.24%
Samsung Electronics Ltd0.23%
Treasury Note 1.25% 03/31/2028 (Tnote)0.23%
Johnson & Johnson0.22%
Treasury Note 3.50% 02/15/2033 (Tnote)0.22%

Only in RAA

39 securities, 74.0% of RAA by weight

Bny Mellon Us Large Cap Core E Bny Mellon Us Large Cap Core14.97%
Invesco Optimum Yield Divers10.29%
Schwab Long Term U.s. Treasury Schwab Long Term Us Treasury8.28%
Vanguard Intermediate-Term Corporate Bond Etf6.04%
Schwab High Yield Bond Etf5.98%
Ishares JPMorgan USD Emerging Markets Bond Etf4.03%
iM DBi Managed Futures Strategy ETF3.50%
Vanguard Morningstar Small-Cap ETF3.06%
Schwab U.s. Tips Etf3.03%
Us Treasury 3 Month Bill Etf Us Treasury 3 Month Bill Etf1.98%
Sprott Physical Gold Trus1.92%
Ishares Msci Emr Mrk Ex Chna1.85%
Simplify DBi CTA Managed Futures Index ETF1.48%
Franklin FTSE Europe ETF1.00%
Franklin FTSE Japan ETF0.96%
Grayscale Bitcn Mini Tru Etf0.95%
Bhp Group Ltd0.81%
Canadian Natural Resources0.57%
Suncor Energy Inc.0.56%
Agnico Eagle Mines Ltd0.34%
Rio Tinto Plc-Spon Adr0.34%
Glencore PLC -Unsp Adr0.25%
Barrick Mining Corp.0.24%
Anglo American PLC Spons Adr Adr0.21%
Wheaton Precious Metals Corp Common Stock0.21%
Franco-Nevada Corp0.16%
Shopify Inc - Class A0.15%
Vale Sa-Sp Adr0.13%
Seagate Technology-Ordinary Shares0.12%
Asml Holding Nv-Ny Reg Shs0.11%
Arm Holdings PLC0.07%
Erie Indemnity Company-Cl A0.06%
Mercadolibre Inc0.06%
Honeywell International Inc Honiv0.05%
First American Government Obli First Am Gov Oblig X0.05%
NXP Semiconductors NV0.05%
Honeywell Aerospace Inc Honav0.04%
Thomson Reuters Corp0.03%
Ferrovial SA0.03%

Weight gaps

The 100 widest of 141 Holdings in both funds.

Holding weights in IRTR and RAA, widest gap first
Holding	More in IRTRMore in RAA	IRTR	RAA
Occidental Petroleum CorpOXY	RAA +0.54 points	0.02%	0.56%
EqtEQT	RAA +0.54 points	0.01%	0.55%
Cheniere EnergyLNG	RAA +0.52 points	0.07%	0.59%
SlbSLB	RAA +0.51 points	0.03%	0.54%
Marathon PetroleumMPC	RAA +0.50 points	0.04%	0.54%
ChevronCVX	RAA +0.48 points	0.15%	0.63%
WilliamsWMB	RAA +0.46 points	0.09%	0.55%
Micron TechnologyMU	RAA +0.44 points	0.34%	0.78%
Space Exploration Technologies CorSPCX	RAA +0.43 points	0.03%	0.46%
NewmontNEM	RAA +0.42 points	0.04%	0.46%
Advanced Micro DevicesAMD	RAA +0.40 points	0.28%	0.68%
AppleAAPL	IRTR +0.34 points	1.69%	1.35%
Freeport Mcmoran IncFCX	RAA +0.33 points	0.03%	0.36%
Exxonmobil Holdings CorpXOM	RAA +0.29 points	0.26%	0.55%
WalmartWMT	RAA +0.27 points	0.18%	0.45%
MicrosoftMSFT	IRTR +0.27 points	1.31%	1.04%
Intel CorporationINTC	RAA +0.25 points	0.10%	0.35%
NVIDIANVDA	IRTR +0.25 points	1.62%	1.37%
NucorNUE	RAA +0.21 points	0.02%	0.23%
Palantir Technologies Class APLTR	RAA +0.19 points	0.14%	0.33%
Costco Wholesale CorpCOST	RAA +0.19 points	0.15%	0.34%
Cisco Systems IncCSCO	RAA +0.17 points	0.14%	0.31%
Tesla IncTSLA	RAA +0.17 points	0.40%	0.57%
WelltowerWELL	RAA +0.18 points	0.10%	0.28%
Realty Income ReitO	RAA +0.17 points	0.04%	0.21%
Automatic Data Processing IncADP	RAA +0.15 points	0.04%	0.19%
Applied Material IncAMAT	RAA +0.15 points	0.10%	0.25%
Prologis ReitPLD	RAA +0.14 points	0.08%	0.22%
Lam ResearchLRCX	RAA +0.14 points	0.10%	0.24%
PepsicoPEP	RAA +0.14 points	0.06%	0.20%
Texas InstrumentTXN	RAA +0.13 points	0.09%	0.22%
Equinix ReitEQIX	RAA +0.13 points	0.06%	0.19%
Palo Alto NetworksPANW	RAA +0.12 points	0.10%	0.22%
Alphabet Class AGOOGL	IRTR +0.11 points	0.55%	0.44%
Crowdstrike Holdings Class ACRWD	RAA +0.10 points	0.09%	0.19%
Stanley Black & DeckerSWK	RAA +0.10 points	<0.01%	0.11%
Amgen IncAMGN	RAA +0.10 points	0.09%	0.19%
NetflixNFLX	RAA +0.10 points	0.09%	0.19%
A O SmithAOS	RAA +0.11 points	<0.01%	0.11%
CloroxCLX	RAA +0.11 points	<0.01%	0.11%
Amcor PLCAMCR	RAA +0.10 points	<0.01%	0.11%
Hormel Foods CorpHRL	RAA +0.10 points	<0.01%	0.10%
KlaKLAC	RAA +0.10 points	0.07%	0.17%
T Mobile Us IncTMUS	RAA +0.09 points	0.03%	0.12%
Kimberly ClarkKMB	RAA +0.10 points	0.01%	0.11%
Linde PLCLIN	RAA +0.10 points	0.08%	0.18%
Simon Property Group Reit IncSPG	RAA +0.09 points	0.05%	0.14%
Franklin TempletonBEN	RAA +0.10 points	<0.01%	0.10%
KenvueKVUE	RAA +0.10 points	0.01%	0.11%
T Rowe Price GroupTROW	RAA +0.09 points	<0.01%	0.10%
Public Storage ReitPSA	RAA +0.09 points	0.04%	0.13%
Analog DevicesADI	RAA +0.09 points	0.07%	0.16%
Digital Realty Trust ReitDLR	RAA +0.10 points	0.04%	0.14%
Amazon.com IncAMZN	IRTR +0.09 points	0.79%	0.70%
Gilead SciencesGILD	RAA +0.09 points	0.07%	0.16%
QualcommQCOM	RAA +0.09 points	0.06%	0.15%
Genuine PartsGPC	RAA +0.08 points	<0.01%	0.09%
Ppg IndustriesPPG	RAA +0.08 points	<0.01%	0.09%
Vivmark ResidentialVMRK	RAA +0.08 points	0.04%	0.12%
Marvell TechnologyMRVL	RAA +0.08 points	0.06%	0.14%
Ventas ReitVTR	RAA +0.09 points	0.03%	0.12%
Eversource EnergyES	RAA +0.08 points	<0.01%	0.09%
SandiskSNDK	RAA +0.07 points	0.06%	0.13%
Intuitive SurgicalISRG	RAA +0.07 points	0.05%	0.12%
Medtronic PLCMDT	RAA +0.07 points	0.04%	0.11%
Iron Mountain IncIRM	RAA +0.07 points	0.03%	0.10%
AbbVieABBV	IRTR +0.07 points	0.18%	0.11%
Western Digital CorpWDC	RAA +0.07 points	0.04%	0.11%
Illinois Tool IncITW	RAA +0.06 points	0.03%	0.09%
Extra Space Storage ReitEXR	RAA +0.06 points	0.02%	0.08%
Broadcom IncAVGO	IRTR +0.05 points	0.51%	0.46%
Vertex PharmaceuticalsVRTX	RAA +0.05 points	0.05%	0.10%
Starbucks CorpSBUX	RAA +0.05 points	0.04%	0.09%
Marriott International Class AMAR	RAA +0.05 points	0.03%	0.08%
Vici Pptys IncVICI	RAA +0.05 points	0.02%	0.07%
FortinetFTNT	RAA +0.05 points	0.03%	0.08%
Monster BeverageMNST	RAA +0.05 points	0.02%	0.07%
Meta Platforms Class AMETA	RAA +0.05 points	0.46%	0.51%
Booking HoldingsBKNG	RAA +0.04 points	0.04%	0.08%
CsxCSX	RAA +0.05 points	0.03%	0.08%
SynopsysSNPS	RAA +0.04 points	0.03%	0.07%
Adobe IncADBE	RAA +0.05 points	0.03%	0.08%
CintasCTAS	RAA +0.04 points	0.03%	0.07%
Applovin Class AAPP	RAA +0.04 points	0.02%	0.06%
Mcdonalds CorpMCD	IRTR +0.04 points	0.06%	0.02%
Datadog Inc Class ADDOG	RAA +0.04 points	0.03%	0.07%
Abbott LaboratoriesABT	IRTR +0.04 points	0.06%	0.02%
Alphabet Class CGOOG	IRTR +0.04 points	0.45%	0.41%
Lumentum HoldingsLITE	RAA +0.04 points	0.02%	0.06%
IntuitINTU	RAA +0.04 points	0.03%	0.07%
Cadence Design SystemsCDNS	RAA +0.04 points	0.03%	0.07%
Comcast Class ACMCSA	RAA +0.03 points	0.03%	0.06%
Host Hotels & Resorts ReitHST	RAA +0.04 points	0.01%	0.05%
Mondelez International Class AMDLZ	RAA +0.03 points	0.03%	0.06%
Doordash Class ADASH	RAA +0.04 points	0.02%	0.06%
Airbnb Class AABNB	RAA +0.04 points	0.02%	0.06%
Ross Stores IncROST	RAA +0.04 points	0.02%	0.06%
Essex Property Trust ReitESS	RAA +0.04 points	0.01%	0.04%
Oreilly Automotive IncORLY	RAA +0.04 points	0.02%	0.06%
Coca Cola Europacific Partners PLCCCEP	RAA +0.03 points	<0.01%	0.04%

All IRTR holdings⁠All 181 RAA holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

IRTR vs RAA Cost

Overpaying RAA vs IRTR

$14,510

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

IRTR 0.08%
$1,689
RAA 0.85%
$16,199

Amount$10,000

Years30 years

Cost over time

IRTR 0.08%
RAA 0.85%
Overpaying

Year by year

Year	IRTR	RAA	Overpaying
10	$147	$1,508	$1,361
20	$575	$5,706	$5,131
30	$1,689	$16,199	$14,510

Expense ratio

0.08%IRTR, cheaper
0.85%RAA

IRTR0.08%RAA0.85%

0.06%1.36%

Middle half of Multi-Asset Allocation funds
Median 0.57%

IRTR 2nd cheapest of 37 funds

RAA 29th cheapest of 37 funds

IRTR vs RAA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IRTR 3.17%, better; RAA 2.09%
Payout (12M): IRTR $1.00; RAA $0.62
Last payment: IRTR $0.08; RAA $0.13
Ex-dividend: IRTR Oct 2, 2026; RAA Sep 16, 2026
Paid on: IRTR Oct 7, 2026; RAA Sep 17, 2026
Frequency: IRTR Monthly; RAA Quarterly

Distribution history

Per share, 2023 to 2026, same scale for both

IRTRMonthly · 35 paymentsAll IRTR payments⁠

RAAQuarterly · 6 paymentsAll RAA payments⁠

IRTR vs RAA Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: IRTR 7.3%RAA 9.3%since Mar 2025
Return per unit of riskSharpe ratio, 3 years: IRTR 1.14RAA 0.98since Mar 2025
Worst fallMax drawdown, 5 years: IRTR −6.3%since Oct 2023RAA −11.8%since Feb 2025
Market sensitivityBeta, 5 years: IRTR 0.47RAA 0.67; Market = 1

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