RAAX vs UCBG: Grades, Fees and Holdings Compared

VanEck Real Assets ETF

RAAXBNYSE Arca

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

UCBGANYSE Arca

Overlap

10.4%by weight

Expense ratio

UCBG −0.49pt a year

RAAX0.55%UCBG0.06%

Avg volume · 30D

UCBG 14.4×the volume

RAAX289KUCBG4.15M

RAAX vs UCBG Performance

Oct 9, 2026 – Nov 9, 2026

−4.7%RAAX−2.9%UCBG

Expense ratio: RAAX 0.55%; UCBG 0.06%, better
Fund size: RAAX $1.38B; UCBG $2.42B
1Y total return: RAAX +15.4%; UCBG No data
Yield (12M): RAAX 2.10%; UCBG No data
Holdings: RAAX 199; UCBG 886
Avg volume (30D): RAAX 289K sh; UCBG 4.15M sh, better
NAV per share: RAAX $38.20; UCBG $48.56
52W range

ETF.net Grade

Pillar letters and Scores for RAAX, UCBG, with each pillar’s weight
Pillar	RAAX	UCBG
Cost30% weight	C53	A100Higher
Mission25% weight	B68	A99Higher
Risk15% weight	C41	Not scored
Tradability15% weight	B67	A99Higher
Holdings10% weight	B57	A79Higher
Durability5% weight	A88Higher	B66

Rank among Multi-Asset Allocation funds

How we build Categories ›

Same Category. RAAX and UCBG are both graded against the same 36 Multi-Asset Allocation funds, so their Grades compare head to head.

Multi-Asset Allocation⁠

Category · 36 funds

See all 36 ›

UCBG ranks 1st and RAAX 12th of 36 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 12BOCIOClearShares OCIO ETFScore 59
Rank 12BRAAXVanEck Real Assets ETFScore 59
Rank 14BELMElm Market Navigator ETFScore 58

Our read on each fund

ETF.net Research

RAAXBVanEck Real Assets ETF

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

In short

RAAX One ticker for the stuff you can touch: commodities, resource stocks, REITs, pipelines, MLPs and gold, bundled through other ETFs and actively re-mixed with an eye on sustained drawdowns. VanEck has run it since 2018.

UCBG No data

Stated mandate

RAAX The Fund seeks long-term total return, aiming to maximize real returns while reducing downside risk during sustained declines. It primarily uses exchange-traded products for exposure to commodities, natural-resource equities, REITs, infrastructure, MLPs, and gold, including gold-mining equities.

UCBG No data

Why people hold it

RAAX One ticker covers commodities, natural-resource equities, REITs, infrastructure, MLPs and gold (miners included), instead of stitching five funds together yourself.vaneck.com
0.55% a year, below the typical expense ratio in its multi-asset allocation group.
The mandate is active, not a fixed basket: aim at real returns while trimming exposure during sustained declines.vaneck.com
Billions in assets and steady day-to-day trading keep the friction of moving in and out of a tactical sleeve manageable.

UCBG No data

Worth knowing

RAAX Gold miners, MLPs and commodity futures lurch in ways a plain stock-and-bond blend does not; that volatility is the price of the diversification.
0.55% is modest for a tactical multi-asset fund, but vanilla allocation ETFs like AOA (0.19%) and NTSX (0.20%) cost far less.
It owns other ETFs and reshuffles them, so the mix under the hood can look quite different from one stretch to the next.

UCBG No data

Full RAAX profile⁠

Full UCBG profile⁠

RAAX vs UCBG Holdings

How RAAX and UCBG differ

Overlap by weight

10.4%

Shared holdings make up 38.3% of RAAX and 19.1% of UCBG.

Level by level

Holdings108 in both10.4%
Sector11 Sectors19.1%
Countryby domicile89.4%

Sector

Sector weights in RAAX and UCBG, widest gap first
Sector	Gap	RAAX	UCBG
Technology	UCBG +38.0 points	0.2%	38.2%
Energy	RAAX +35.2 points	39.1%	3.9%
Industrials	RAAX +19.6 points	27.2%	7.6%
Materials	RAAX +14.8 points	16.4%	1.6%
Financials	UCBG +11.1 points	1.0%	12.1%
Health Care	UCBG +9.5 points	0.8%	10.3%
Consumer Discretionary	UCBG +9.0 points	0.2%	9.2%
Communication	UCBG +8.4 points	0.0%	8.4%
Utilities	RAAX +7.7 points	9.8%	2.1%
Consumer Staples	UCBG +4.9 points	0.0%	4.9%
Real Estate	RAAX +3.6 points	5.4%	1.8%

Country, concentration and asset class

Country by domicile

Country weights in RAAX and UCBG, widest gap first
Country	Gap	RAAX	UCBG
United States	UCBG +10.3 points	85.6%	95.9%
Canada	RAAX +5.0 points	5.4%	0.4%
Ireland	RAAX +1.4 points	2.6%	1.2%
Germany	RAAX +0.7 points	0.7%	0.0%
Switzerland	RAAX +0.6 points	0.9%	0.3%
South Africa	RAAX +0.6 points	0.6%	0.0%
Australia	RAAX +0.5 points	0.6%	0.1%
Other countries (14)	RAAX +1.6 points	3.6%	2.0%

Concentration

Weight in the 10 largest Holdings

RAAX51.5%
UCBG33.7%

Securities held

RAAX196
UCBG884

Asset class

RAAX: Commodities
UCBG: Multi-Asset

Holdings

Only in RAAX88
In both108
Only in UCBG776

Only in RAAX

88 securities, 61.4% of RAAX by weight

VanEck Commodity Strategy ETF21.95%
VanEck Merk Gold Shares19.87%
Tc Energy Corp0.79%
Enbridge Inc0.68%
Cheniere Energy Inc0.57%
Altagas Ltd0.54%
Pembina Pipeline Corp0.54%
Enterprise Products Partners Lp0.53%
Mplx Lp0.49%
Energy Transfer Lp0.48%
Agnico Eagle Mines Ltd0.43%
Abb Ltd0.43%
Schneider Electric Se0.40%
Barrick Mining Corp0.37%
Iberdrola Sa0.33%
Wheaton Precious Metals Corp0.31%
Western Midstream Partners Lp0.30%
Antero Midstream Corp0.30%
Dt Midstream Inc0.29%
Keyera Corp0.29%
Bayer Ag0.29%
Anglogold Ashanti Plc0.29%
Amrize Ltd0.28%
National Grid Plc0.27%
E.On Se0.27%
Ati Inc0.27%
Fortum Oyj0.26%
Cameco Corp0.26%
Sun Communities Inc0.26%
Franco-Nevada Corp0.25%
Omega Healthcare Investors Inc0.25%
Gold Fields Ltd0.25%
Prysmian Spa0.24%
Cgn Power Co Ltd0.23%
Bhp Group Ltd0.23%
Siemens Ag0.23%
Equity Lifestyle Properties Inc0.22%
Carpenter Technology Corp0.22%
American Healthcare REIT Inc0.22%
Carlisle Cos Inc0.21%
Kinross Gold Corp0.21%
Nac Kazatomprom Jsc0.21%
Kodiak Gas Services Inc0.21%
Northern Star Resources Ltd0.20%
Mastec Inc0.20%
Woodward Inc0.20%
Lincoln Electric Holdings Inc0.20%
Nutrien Ltd0.19%
Shell Plc0.19%
Agnico Eagle Mines Ltd0.19%

Only in UCBG

776 securities, 80.6% of UCBG by weight

Apple Inc7.04%
Microsoft Corp5.55%
Amazon.com Inc3.58%
Alphabet Inc Class A2.35%
Broadcom Inc1.96%
Alphabet Inc Class C1.90%
Meta Platforms Inc Class A1.89%
Eli Lilly & Co1.53%
Berkshire Hathaway Inc Class B1.50%
JPMorgan Chase & Co1.25%
Micron Technology Inc1.10%
Advanced Micro Devices1.03%
Visa Inc Class A Shares1.01%
Johnson & Johnson0.94%
Walmart Inc0.79%
Mastercard Inc A0.74%
AbbVie Inc0.73%
Costco Wholesale Corp0.66%
Procter & Gamble Co/The0.54%
Coca Cola Co/The0.52%
Palantir Technologies Inc A0.52%
Merck & Co. Inc.0.51%
UnitedHealth Group Inc0.50%
Home Depot Inc0.48%
Bank of America Corp0.45%
Philip Morris International0.44%
Intel Corp0.39%
Applied Materials Inc0.37%
Netflix Inc0.37%
Thermo Fisher Scientific Inc0.36%
Palo Alto Networks Inc0.36%
Wells Fargo & Co0.36%
Texas Instruments Inc0.36%
Goldman Sachs Group Inc0.36%
Lam Research Corp0.35%
Amgen Inc0.35%
Intl Business Machines Corp0.33%
Oracle Corp0.32%
Crowdstrike Holdings Inc A0.31%
Morgan Stanley0.30%
Gilead Sciences Inc0.29%
Walt Disney Co/The0.28%
Citigroup Inc0.28%
McDonald’s Corp0.28%
Pepsico Inc0.27%
Abbott Laboratories0.27%
Verizon Communications Inc0.27%
Kla Corp0.26%
Amphenol Corp Class A0.26%
Analog Devices Inc0.25%

Weight gaps

The 100 widest of 108 Holdings in both funds.

Holding weights in RAAX and UCBG, widest gap first
Holding	Gap	RAAX	UCBG
Nvidia CorpNVDA	UCBG +6.20 points	0.16%	6.36%
Tesla IncTSLA	UCBG +1.26 points	0.16%	1.42%
Chevron CorpCVX	RAAX +1.17 points	1.76%	0.59%
Exxon Mobil CorpXOM	RAAX +1.08 points	2.04%	0.96%
Williams Cos Inc/TheWMB	RAAX +1.07 points	1.18%	0.11%
Oneok IncOKE	RAAX +0.78 points	0.86%	0.08%
Kinder Morgan IncKMI	RAAX +0.75 points	0.83%	0.08%
Quanta Services IncPWR	RAAX +0.68 points	0.79%	0.11%
Welltower IncWELL	RAAX +0.64 points	0.88%	0.24%
Crh PlcCRH	RAAX +0.61 points	0.70%	0.09%
Targa Resources CorpTRGP	RAAX +0.60 points	0.68%	0.08%
Newmont CorpNEM	RAAX +0.59 points	0.77%	0.18%
Deere & CoDE	RAAX +0.54 points	0.78%	0.24%
Eaton Corp PlcETN	RAAX +0.53 points	0.72%	0.19%
Nextera Energy IncNEE	RAAX +0.52 points	0.78%	0.26%
Vulcan Materials CoVMC	RAAX +0.51 points	0.56%	0.05%
Nucor CorpNUE	RAAX +0.49 points	0.57%	0.08%
Steel Dynamics IncSTLD	RAAX +0.48 points	0.52%	0.04%
Martin Marietta Materials IncMLM	RAAX +0.46 points	0.50%	0.04%
Norfolk Southern CorpNSC	RAAX +0.43 points	0.53%	0.10%
Emerson Electric CoEMR	RAAX +0.41 points	0.54%	0.13%
Csx CorpCSX	RAAX +0.41 points	0.54%	0.13%
United Rentals IncURI	RAAX +0.41 points	0.50%	0.09%
Public StoragePSA	RAAX +0.40 points	0.48%	0.08%
Constellation Energy CorpCEG	RAAX +0.39 points	0.50%	0.11%
Cisco Systems IncCSCO	UCBG +0.38 points	0.14%	0.52%
Fastenal CoFAST	RAAX +0.37 points	0.46%	0.09%
Union Pacific CorpUNP	RAAX +0.37 points	0.61%	0.24%
Duke Energy CorpDUK	RAAX +0.36 points	0.50%	0.14%
Vivmark ResidentialVMRK	RAAX +0.34 points	0.41%	0.07%
Ventas IncVTR	RAAX +0.34 points	0.40%	0.06%
SempraSRE	RAAX +0.34 points	0.41%	0.07%
Rockwell Automation IncROK	RAAX +0.33 points	0.39%	0.06%
Hubbell IncHUBB	RAAX +0.32 points	0.35%	0.03%
Johnson Controls International PlcJCI	RAAX +0.32 points	0.44%	0.12%
Marathon Petroleum CorpMPC	RAAX +0.31 points	0.46%	0.15%
Trane Technologies PlcTT	RAAX +0.30 points	0.43%	0.13%
ConocophillipsCOP	RAAX +0.30 points	0.53%	0.23%
Howmet Aerospace IncHWM	RAAX +0.28 points	0.40%	0.12%
General Aerospace CoGE	UCBG +0.28 points	0.19%	0.47%
Schlumberger NvSLB	RAAX +0.27 points	0.38%	0.11%
Extra Space Storage IncEXR	RAAX +0.27 points	0.32%	0.05%
Emcor Group IncEME	RAAX +0.27 points	0.31%	0.04%
Dominion Energy IncD	RAAX +0.26 points	0.35%	0.09%
Essex Property Trust IncESS	RAAX +0.26 points	0.28%	0.02%
Public Service Enterprise Group IncPEG	RAAX +0.26 points	0.31%	0.05%
Rtx CorpRTX	UCBG +0.25 points	0.11%	0.36%
Southern Co/TheSO	RAAX +0.24 points	0.39%	0.15%
Xcel Energy IncXEL	RAAX +0.24 points	0.31%	0.07%
Baker Hughes CoBKR	RAAX +0.23 points	0.30%	0.07%
Devon Energy CorpDVN	RAAX +0.22 points	0.29%	0.07%
Phillips 66PSX	RAAX +0.23 points	0.37%	0.14%
Linde PlcLIN	RAAX +0.22 points	0.55%	0.33%
Consolidated Edison IncED	RAAX +0.22 points	0.28%	0.06%
Freeport-Mcmoran IncFCX	RAAX +0.22 points	0.34%	0.12%
Fortive CorpFTV	RAAX +0.21 points	0.24%	0.03%
Ppg Industries IncPPG	RAAX +0.21 points	0.25%	0.04%
Ge Vernova LlcGEV	UCBG +0.21 points	0.08%	0.29%
Vistra CorpVST	RAAX +0.20 points	0.26%	0.06%
Udr IncUDR	RAAX +0.20 points	0.22%	0.01%
Wec Energy Group IncWEC	RAAX +0.20 points	0.25%	0.05%
Smurfit Westrock PlcSW	RAAX +0.20 points	0.23%	0.03%
Parker-Hannifin CorpPH	RAAX +0.20 points	0.36%	0.16%
Occidental Petroleum CorpOXY	RAAX +0.19 points	0.25%	0.06%
Idex CorpIEX	RAAX +0.19 points	0.21%	0.02%
Eqt CorpEQT	RAAX +0.19 points	0.23%	0.04%
Ameren CorpAEE	RAAX +0.19 points	0.23%	0.04%
Packaging Corp Of AmericaPKG	RAAX +0.19 points	0.22%	0.03%
American Water Works Co IncAWK	RAAX +0.18 points	0.22%	0.04%
Amcor PlcAMCR	RAAX +0.17 points	0.20%	0.03%
Dte Energy CoDTE	RAAX +0.17 points	0.21%	0.04%
International Flavors & Fragrances IncIFF	RAAX +0.17 points	0.20%	0.03%
Ppl CorpPPL	RAAX +0.17 points	0.21%	0.04%
Eversource EnergyES	RAAX +0.16 points	0.20%	0.04%
Halliburton CoHAL	RAAX +0.16 points	0.20%	0.04%
Firstenergy CorpFE	RAAX +0.16 points	0.19%	0.03%
Ball CorpBALL	RAAX +0.16 points	0.18%	0.02%
Dow IncDOW	RAAX +0.16 points	0.19%	0.03%
Avery Dennison CorpAVY	RAAX +0.15 points	0.17%	0.02%
Lyondellbasell Industries NvLYB	RAAX +0.15 points	0.17%	0.02%
Trimble IncTRMB	RAAX +0.15 points	0.17%	0.02%
Expand Energy CorpEXE	RAAX +0.14 points	0.17%	0.03%
Eog Resources IncEOG	RAAX +0.14 points	0.25%	0.11%
Vylor IncVYLR	RAAX +0.13 points	0.20%	0.07%
Healthpeak Properties IncDOC	RAAX +0.13 points	0.15%	0.02%
Valero Energy CorpVLO	RAAX +0.13 points	0.27%	0.14%
Invitation Homes IncINVH	RAAX +0.12 points	0.14%	0.02%
Archer-Daniels-Midland CoADM	RAAX +0.11 points	0.16%	0.05%
Caterpillar IncCAT	UCBG +0.11 points	0.25%	0.36%
International Paper CoIP	RAAX +0.10 points	0.13%	0.03%
Cms Energy CorpCMS	RAAX +0.09 points	0.12%	0.03%
American Electric Power Co IncAEP	RAAX +0.09 points	0.19%	0.10%
Jacobs Solutions IncJ	RAAX +0.07 points	0.09%	0.02%
Mid-America Apartment Communities IncMAA	RAAX +0.06 points	0.08%	0.02%
Nrg Energy IncNRG	RAAX +0.06 points	0.09%	0.03%
Atmos Energy CorpATO	RAAX +0.05 points	0.09%	0.04%
Pg&E CorpPCG	RAAX +0.05 points	0.09%	0.04%
Bloom Energy CorpBE	RAAX +0.04 points	0.11%	0.07%
Comfort Systems Usa IncFIX	RAAX +0.04 points	0.09%	0.05%
Diamondback Energy IncFANG	RAAX +0.04 points	0.09%	0.05%

All RAAX 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.

RAAX vs UCBG Cost

Overpaying RAAX vs UCBG

$9,634

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

RAAX 0.55%
$10,904
UCBG 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

RAAX 0.55%
UCBG 0.06%
Overpaying

Year by year

Year	RAAX	UCBG	Overpaying
10	$988	$110	$878
20	$3,790	$432	$3,358
30	$10,904	$1,270	$9,634

Expense ratio

0.55%RAAX
0.06%UCBG, cheaper

UCBG0.06%RAAX0.55%

0.06%1.36%

Middle half of Multi-Asset Allocation funds
Median 0.61%

UCBG cheapest of 36 funds

RAAX 16th cheapest of 36 funds

RAAX vs UCBG Dividends

Last 12 months to Nov 9, 2026

Yield (12M): RAAX 2.10%; UCBG No data
Payout (12M): RAAX $0.82; UCBG No data
Last payment: RAAX $0.82; UCBG $0.04
Ex-dividend: RAAX Dec 29, 2025; UCBG Sep 21, 2026
Paid on: RAAX Dec 31, 2025; UCBG Sep 23, 2026
Frequency: RAAX Annual; UCBG Irregular

Distribution history

Per share, 2018 to 2026, same scale for both

RAAXAnnual · 8 paymentsAll RAAX payments⁠

UCBGIrregular · 1 paymentAll UCBG payments⁠

RAAX vs UCBG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: RAAX 11.2%UCBG No data
Return per unit of riskSharpe ratio, 3 years: RAAX 1.25UCBG No data
Worst fallMax drawdown, 5 years: RAAX −23.5%UCBG No data
Market sensitivityBeta, 5 years: RAAX 0.65UCBG 0.00; Market = 1

RAAX and UCBG in the news

All news⁠

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

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RAAX vs UCBG

In short

Stated mandate

Why people hold it

Worth knowing

How RAAX and UCBG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in RAAX

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 RAAX and UCBG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in RAAX

Only in UCBG

Weight gaps