RAA vs UCBG: Grades, Fees and Holdings Compared

SMI 3Fourteen REAL Asset Allocation ETF

RAABNasdaq

State Street SPDR UC Investments 90/10 Endowment Strategy Index ETF

UCBGANYSE Arca

Overlap

20.1%by weight

Expense ratio

UCBG −0.79pt a year

RAA0.85%UCBG0.06%

Avg volume · 30D

UCBG 95.3×the volume

RAA43.6KUCBG4.15M

RAA vs UCBG Performance

Sep 30, 2026 – Oct 30, 2026

0.0%RAA−0.9%UCBG

Expense ratio: RAA 0.85%; UCBG 0.06%, better
Fund size: RAA $645M; UCBG $2.52B
1Y total return: RAA +10.2%; UCBG No data
Yield (12M): RAA 2.09%; UCBG No data
Holdings: RAA 181; UCBG 868
Avg volume (30D): RAA 43.6K sh; UCBG 4.15M sh, better
NAV per share: RAA $30.27; UCBG $50.56
52W range

ETF.net Grade

Pillar letters and Scores for RAA, UCBG, with each pillar’s weight
Pillar	RAA	UCBG
Cost30% weight	F22	A100Higher
Mission25% weight	A83	A99Higher
Risk15% weight	B61	Not scored
Tradability15% weight	A74	A99Higher
Holdings10% weight	A73	A79Higher
Durability5% weight	A70Higher	B66

Rank among Multi-Asset Allocation funds

How we build Categories ›

Same Category. RAA and UCBG 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 ›

UCBG ranks 1st 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 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

RAABSMI 3Fourteen REAL Asset Allocation ETF

UCBGAState Street SPDR UC Investments 90/10 Endowment Strategy Index ETF

In short

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.

UCBG No data

Stated mandate

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.

UCBG No data

Why people hold it

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.

UCBG No data

Worth knowing

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

UCBG No data

Full RAA profile⁠

Full UCBG profile⁠

RAA vs UCBG Holdings

How RAA and UCBG differ

Overlap by weight

20.1%

Shared holdings make up 53.9% of UCBG and 24.8% of RAA.

Level by level

Holdings132 in both20.1%
Countryby domicile87.1%

Sector

No Sector split for RAA.

Country, concentration and asset class

Country by domicile

Country weights in RAA and UCBG, widest gap first
Country	More in RAAMore in UCBG	RAA	UCBG
United States	UCBG +12.0 points	84.0%	96.0%
Canada	RAA +4.1 points	4.5%	0.4%
Saudi Arabia	RAA +2.8 points	2.8%	0.0%
Ireland	UCBG +0.8 points	0.4%	1.2%
Australia	RAA +0.8 points	0.9%	0.1%
Japan	RAA +0.8 points	1.1%	0.3%
Taiwan	RAA +0.7 points	0.7%	0.0%
Other countries (32)	RAA +3.8 points	5.8%	2.0%

Concentration

Weight in the 10 largest Holdings

RAA61.1%
UCBG33.6%

Securities held

RAA180
UCBG866

Asset class

RAA: Multi-Asset
UCBG: Multi-Asset

Holdings

Only in RAA48
In both132
Only in UCBG734

Only in RAA

48 securities, 75.1% 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%
Cheniere Energy Inc0.59%
Canadian Natural Resources0.57%
Suncor Energy Inc.0.56%
Space Exploration Tech Corp A0.46%
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%
Asml Holding Nv-Ny Reg Shs0.11%
Arm Holdings PLC0.07%
Mercadolibre Inc0.06%
Honeywell International Inc Honiv0.05%
First American Government Obli First Am Gov Oblig X0.05%
Pdd Holdings Inc Adr USD 0.000020.04%
W. P. Carey Reit Inc0.04%
Honeywell Aerospace Inc Honav0.04%
Coca-Cola European Partners PLC Common Stock0.04%
Omega Healthcare Investors Inc0.04%
Thomson Reuters Corp0.03%
Microstrategy Inc-Cl A0.03%
Astera Labs Inc0.03%
Ferrovial SA0.03%
Nebius Group NV0.03%
Rocket Lab Corp0.03%
Coreweave Inc0.02%
Alnylam Pharmaceuticals Inc0.02%

Only in UCBG

734 securities, 45.8% of UCBG by weight

Eli Lilly & Co1.49%
Berkshire Hathaway Inc Class B1.36%
JPMorgan Chase & Co1.23%
Visa Inc Class A Shares0.95%
Johnson & Johnson0.90%
Mastercard Inc A0.70%
Procter & Gamble Co/The0.50%
UnitedHealth Group Inc0.50%
Merck & Co. Inc.0.49%
Coca Cola Co/The0.49%
Bank of America Corp0.45%
Home Depot Inc0.44%
Philip Morris International0.44%
General Electric0.44%
Caterpillar Inc0.40%
Goldman Sachs Group Inc0.37%
Rtx Corp0.36%
Thermo Fisher Scientific Inc0.35%
Wells Fargo & Co0.35%
Oracle Corp0.32%
Ge Vernova Inc0.32%
Morgan Stanley0.30%
Citigroup Inc0.28%
Amphenol Corp Class A0.27%
Walt Disney Co/The0.26%
Arista Networks Inc0.26%
Salesforce Inc0.26%
Verizon Communications Inc0.24%
Conocophillips0.24%
Union Pacific Corp0.24%
Nextera Energy Inc0.23%
Pfizer Inc0.23%
BlackRock Inc0.23%
American Express Co0.23%
Deere & Co0.22%
Tjx Companies Inc0.21%
Eaton Corp PLC0.21%
Accenture PLC Class A0.21%
Danaher Corp0.20%
Schwab (Charles) Corp0.20%
Dell Technologies C0.20%
At+t Inc0.19%
S+p Global Inc0.19%
Boeing Co/The0.18%
Progressive Corp0.18%
Uber Technologies Inc0.18%
Lockheed Martin Corp0.18%
Altria Group Inc0.17%
Capital One Financial Corp0.17%
Chubb Ltd0.17%

Weight gaps

The 100 widest of 132 Holdings in both funds.

Holding weights in RAA and UCBG, widest gap first
Holding	More in RAAMore in UCBG	RAA	UCBG
NVIDIA CorpNVDA	UCBG +5.62 points	1.37%	6.99%
Apple IncAAPL	UCBG +5.54 points	1.35%	6.89%
Microsoft CorpMSFT	UCBG +4.28 points	1.04%	5.32%
Amazon.com IncAMZN	UCBG +2.54 points	0.70%	3.24%
Alphabet Inc-Cl AGOOGL	UCBG +1.81 points	0.44%	2.25%
Broadcom Inc.AVGO	UCBG +1.75 points	0.46%	2.21%
Alphabet Inc-Cl CGOOG	UCBG +1.40 points	0.41%	1.81%
Meta Platforms IncMETA	UCBG +1.35 points	0.51%	1.86%
Tesla Inc.TSLA	UCBG +0.97 points	0.57%	1.54%
Micron Technology IncMU	UCBG +0.65 points	0.78%	1.43%
AbbVie IncABBV	UCBG +0.59 points	0.11%	0.70%
Advanced Micro Devices IncAMD	UCBG +0.57 points	0.68%	1.25%
Eqt CorpEQT	RAA +0.50 points	0.55%	0.05%
Occidental Petroleum CorpOXY	RAA +0.50 points	0.56%	0.06%
Exxonmobil Holdings Corp Common Stock USDXOM	UCBG +0.47 points	0.55%	1.02%
Schlumberger LtdSLB	RAA +0.43 points	0.54%	0.11%
Williams Companies Inc.WMB	RAA +0.43 points	0.55%	0.12%
Marathon Petroleum CorpMPC	RAA +0.38 points	0.54%	0.16%
Newmont Goldcorp Corporation ComNEM	RAA +0.30 points	0.46%	0.16%
Palantir Technologies Inc. Class APLTR	UCBG +0.28 points	0.33%	0.61%
Wal-Mart Stores IncWMT	UCBG +0.28 points	0.45%	0.73%
Intel CorpINTC	UCBG +0.27 points	0.35%	0.62%
Cisco Systems IncCSCO	UCBG +0.27 points	0.31%	0.58%
Costco Wholesale CorpCOST	UCBG +0.26 points	0.34%	0.60%
Freeport-Mcmoran IncFCX	RAA +0.23 points	0.36%	0.13%
Mcdonalds CorpMCD	UCBG +0.23 points	0.02%	0.25%
Abbott Laboratories Common Stock USD 0ABT	UCBG +0.22 points	0.02%	0.24%
International Business Machines CorporationIBM	UCBG +0.22 points	0.11%	0.33%
Applied Materials IncAMAT	UCBG +0.20 points	0.25%	0.45%
Palo Alto Networks IncPANW	UCBG +0.20 points	0.22%	0.42%
Lam Resh CorpLRCX	UCBG +0.19 points	0.24%	0.43%
Texas Instruments IncTXN	UCBG +0.16 points	0.22%	0.38%
Crowdstrike Holdings Inc. Class ACRWD	UCBG +0.17 points	0.19%	0.36%
Netflix IncNFLX	UCBG +0.16 points	0.19%	0.35%
Amgen IncAMGN	UCBG +0.15 points	0.19%	0.34%
Nucor CorpNUE	RAA +0.15 points	0.23%	0.08%
Linde PLCLIN	UCBG +0.13 points	0.18%	0.31%
Realty Income CorpO	RAA +0.14 points	0.21%	0.07%
Sandisk Corp/De SndkvSNDK	UCBG +0.13 points	0.13%	0.26%
Analog Devices IncADI	UCBG +0.13 points	0.16%	0.29%
Kla CorporationKLAC	UCBG +0.13 points	0.17%	0.30%
Gilead Sciences IncGILD	UCBG +0.12 points	0.16%	0.28%
Qualcomm IncQCOM	UCBG +0.12 points	0.15%	0.27%
Marvell Technology Group Ltd MrvlMRVL	UCBG +0.12 points	0.14%	0.26%
AO Smith CorpAOS	RAA +0.10 points	0.11%	<0.01%
Hormel Foods CorpHRL	RAA +0.09 points	0.10%	<0.01%
Clorox CompanyCLX	RAA +0.10 points	0.11%	0.01%
Seagate Technology-Ordinary SharesSTX	UCBG +0.09 points	0.12%	0.21%
Intuitive Surgical IncISRG	UCBG +0.10 points	0.12%	0.22%
Stanley Black & Decker IncSWK	RAA +0.09 points	0.11%	0.02%
Franklin Resources IncBEN	RAA +0.09 points	0.10%	0.01%
Western Digital CorpWDC	UCBG +0.08 points	0.11%	0.19%
Vertex Pharmaceuticals IncVRTX	UCBG +0.09 points	0.10%	0.19%
Amcor PLC Common Stock USD.01AMCR	RAA +0.08 points	0.11%	0.03%
Air Products & Chemicals IncAPD	UCBG +0.07 points	0.02%	0.09%
T Rowe Price Group IncTROW	RAA +0.07 points	0.10%	0.03%
Starbucks CorpSBUX	UCBG +0.07 points	0.09%	0.16%
Booking Holdings IncBKNG	UCBG +0.07 points	0.08%	0.15%
Genuine Parts CoGPC	RAA +0.07 points	0.09%	0.02%
Public StoragePSA	RAA +0.06 points	0.13%	0.07%
Kimberly-Clark CorpKMB	RAA +0.06 points	0.11%	0.05%
Ventas Inc.VTR	RAA +0.06 points	0.12%	0.06%
Cadence Design Sys IncCDNS	UCBG +0.06 points	0.07%	0.13%
Medtronic PLCMDT	UCBG +0.06 points	0.11%	0.17%
Vivmark ResidentialVMRK	RAA +0.06 points	0.12%	0.06%
Kenvue IncKVUE	RAA +0.06 points	0.11%	0.05%
Adobe Systems IncADBE	UCBG +0.05 points	0.08%	0.13%
Ppg Industries IncPPG	RAA +0.05 points	0.09%	0.04%
Synopsys IncSNPS	UCBG +0.06 points	0.07%	0.13%
Erie Indemnity Company-Cl AERIE	RAA +0.05 points	0.06%	<0.01%
Csx CorpCSX	UCBG +0.05 points	0.08%	0.13%
Intuit IncINTU	UCBG +0.05 points	0.07%	0.12%
Datadog Inc. Class ADDOG	UCBG +0.05 points	0.07%	0.12%
Eversource EnergyES	RAA +0.06 points	0.09%	0.03%
Welltower IncWELL	RAA +0.06 points	0.28%	0.22%
Equinix IncEQIX	RAA +0.05 points	0.19%	0.14%
Prologis IncPLD	RAA +0.06 points	0.22%	0.16%
Pepsico IncPEP	UCBG +0.05 points	0.20%	0.25%
Lumentum Holdings IncLITE	UCBG +0.05 points	0.06%	0.11%
Simon Property Group IncSPG	RAA +0.04 points	0.14%	0.10%
Digital Realty Trust IncDLR	RAA +0.05 points	0.14%	0.09%
Regeneron PharmaceuticalsREGN	UCBG +0.05 points	0.06%	0.11%
Iron Mountain IncIRM	RAA +0.05 points	0.10%	0.05%
Mondelez International Inc-AMDLZ	UCBG +0.05 points	0.06%	0.11%
Ross Stores IncROST	UCBG +0.04 points	0.06%	0.10%
Comcast Corp-Class ACMCSA	UCBG +0.05 points	0.06%	0.11%
Extra Space Storage IncEXR	RAA +0.04 points	0.08%	0.04%
Constellation Energy CorporationCEG	UCBG +0.04 points	0.07%	0.11%
American Electric PowerAEP	UCBG +0.04 points	0.06%	0.10%
Oreilly Automotive IncORLY	UCBG +0.04 points	0.06%	0.10%
NXP Semiconductors NVNXPI	UCBG +0.04 points	0.05%	0.09%
Monolithic Power Systems IncMPWR	UCBG +0.04 points	0.04%	0.08%
Airbnb IncABNB	UCBG +0.03 points	0.06%	0.09%
Fortinet IncFTNT	UCBG +0.04 points	0.08%	0.12%
Automatic Data ProcessingADP	RAA +0.03 points	0.19%	0.15%
Consolidated Edison IncED	UCBG +0.04 points	0.02%	0.06%
Doordash Inc Class ADASH	UCBG +0.03 points	0.06%	0.09%
Vici Properties Inc ReitVICI	RAA +0.03 points	0.07%	0.04%
Fastenal CoFAST	UCBG +0.03 points	0.05%	0.08%
Applovin CorpAPP	UCBG +0.03 points	0.06%	0.09%

All 181 RAA holdings⁠All 503 UCBG 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.

RAA vs UCBG Cost

Overpaying RAA vs UCBG

$14,929

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

RAA 0.85%
$16,199
UCBG 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

RAA 0.85%
UCBG 0.06%
Overpaying

Year by year

Year	RAA	UCBG	Overpaying
10	$1,508	$110	$1,398
20	$5,706	$432	$5,274
30	$16,199	$1,270	$14,929

Expense ratio

0.85%RAA
0.06%UCBG, cheaper

UCBG0.06%RAA0.85%

0.06%1.36%

Middle half of Multi-Asset Allocation funds
Median 0.57%

UCBG cheapest of 37 funds

RAA 29th cheapest of 37 funds

RAA vs UCBG Dividends

Last 12 months to Oct 30, 2026

Yield (12M): RAA 2.09%; UCBG No data
Payout (12M): RAA $0.62; UCBG No data
Last payment: RAA $0.13; UCBG $0.04
Ex-dividend: RAA Sep 16, 2026; UCBG Sep 21, 2026
Paid on: RAA Sep 17, 2026; UCBG Sep 23, 2026
Frequency: RAA Quarterly; UCBG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

RAAQuarterly · 6 paymentsAll RAA payments⁠

UCBGIrregular · 1 paymentAll UCBG payments⁠

RAA vs UCBG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: RAA 9.3%since Mar 2025UCBG No data
Return per unit of riskSharpe ratio, 3 years: RAA 0.98since Mar 2025UCBG No data
Worst fallMax drawdown, 5 years: RAA −11.8%since Feb 2025UCBG No data
Market sensitivityBeta, 5 years: RAA 0.67UCBG 0.00; Market = 1

RAA and UCBG in the news

All news⁠

Category Review
The fund built to limit losses had the category's worst return
Sep 25, 2026UCBG
ETF Filings
Leverage Shares files 2x shorts on ByteDance and Canva
Sep 6, 2026UCBG

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RAA vs UCBG

In short

Stated mandate

Why people hold it

Worth knowing

How RAA and UCBG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in RAA

Only in UCBG

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

The fund built to limit losses had the category's worst return

Leverage Shares files 2x shorts on ByteDance and Canva

How RAA and UCBG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in RAA

Only in UCBG

Weight gaps