ETF Evaluator: State Street® Multi-Asset Real Ret ETF () Follow This ETF

State Street® Multi-Asset Real Ret ETF Overview

State Street® Multi-Asset Real Ret ETF (RLY) is an actively managed Allocation Global Moderate Allocation exchange-traded fund (ETF). State Street Investment Management launched the ETF in 2012.

The investment seeks to achieve real return consisting of capital appreciation and current income. Under normal circumstances, the Adviser invests at least 80% of the net assets of the fund among ETPs that provide exposure to the following primary asset classes: (i) inflation protected securities issued by the United States government; (ii) domestic and international real estate securities; (iii) commodities; (iv) publicly-traded domestic and international infrastructure companies; and (iv) publicly-traded companies in natural resources and/or commodities businesses.

About State Street® Multi-Asset Real Ret ETF (RLY)

There are 2 members of the management team with an average tenure of 3.88 years: Tyhesha Harrington (2024) and Michael Narkiewicz (2020). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US Govt Infl Lkd TR USD index with a weighting of 100%. State Street® Multi-Asset Real Ret ETF has 12 securities in its portfolio. The top 10 holdings constitute 99.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

State Street® Multi-Asset Real Ret ETF is part of the Allocation global asset class and is within the Allocation ETF group. State Street® Multi-Asset Real Ret ETF has 37.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 31.2% There is 34.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 9.2% (6.3% domestic bond, 3.0% foreign bond and 0.0% convertible bond). State Street® Multi-Asset Real Ret ETF has 21.4% of the portfolio in cash.

Assets Under Management

The fund has $1 billion in total assets, which is above the $553 million average for the Global Moderate Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

RLY Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The State Street® Multi-Asset Real Ret ETF expense ratio is average compared to funds in the Global Moderate Allocation category. State Street® Multi-Asset Real Ret ETF has an expense ratio of 0.50%, which is 36% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. State Street® Multi-Asset Real Ret ETF has a portfolio turnover rate of 56%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 35% for the Global Moderate Allocation category.

Recently, in the month of July 2026, State Street® Multi-Asset Real Ret ETF returned 4.5%, which earned it a grade of A, as the Global Moderate Allocation category had an average return of 0.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

State Street® Multi-Asset Real Ret ETF has a trailing yield of 3.06%, which is below the 4.27% category average. The fund normally distributes its income quarterly.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

State Street® Multi-Asset Real Ret ETF Grades

Year to date, the ETF has returned 15.8%, 7.8 percentage points better than the category, which translates into a grade of A. The fund has returned 27.3% over the past year (grade of A), 12.3% over the past three years (grade of C) and 10.5% per year over the past five years (grade of A) and 8.1% per year over the past 10 years (grade of A).

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