In the U.S. market, the March-launched “All-Weather” $SPDR BRIDGEWATER ALL WEATHER ETF(ALLW)$ just tagged a new all-time high: +14.81% YTD vs. +13.49% for $SPDR S&P 500 ETF Trust(SPY)$ .
Its senior rival $RPAR Risk Parity ETF(RPAR)$ —which began trading in 2019—is up 15.31% this year and also printing three-year highs.
Worth noting: on 10 Oct., while the $S&P 500(.SPX)$ sank 2.7%, $SPDR BRIDGEWATER ALL WEATHER ETF(ALLW)$ slipped only 0.5% and $RPAR Risk Parity ETF(RPAR)$ just 0.25%.
How do these “gain-more, pain-less” ETFs work?
1️⃣ Bridgewater’s legendary All-Weather goes retail
AUM $140 bn, 20-yr ann. return ≈ 11% (pre-fee)
Four economic seasons: inflation, deflation, rising growth, falling growth—no one knows which comes next.
Solution: Risk Parity—equal risk from stocks, bonds, gold, commodities; 1.6–1.8× leverage; 8–12% target vol.
Classic mix (Dalio):US equity 30% | LT Treasuries 40% | IT Treasuries 15% | Gold 7.5% | Broad commodities 7.5%
Result: blue line (All-Weather) vs. red line (global stocks) = far smoother ride, tiny drawdowns.
2️⃣ ALLW vs. RPAR – quick recipe & numbers (as of 16 Oct 2025)
ALLW | RPAR | |
|---|---|---|
Inception | 5 Mar 2025 | 12 Dec 2019 |
Exposure | classic 4-quad risk parity | 30% S&P / 50% Treas. / 20% TIPS+Gold |
Leverage | 1.6× | 1.3× |
Duration | 7.3 yr | 9.1 yr |
Fee | 0.20% | 0.50% |
2025 return | +14.81% | +15.31% |
Max daily DD | –4.2% | –5.9% |
Sharpe | 1.07 | 0.87 |
Calmar | 1.76 | 1.04 |
Takeaway: ALLW = lower vol, higher Sharpe; RPAR = slightly more return but more “ouch”.
3️⃣ Which to pick?
✅ $SPDR BRIDGEWATER ALL WEATHER ETF(ALLW)$ if you want max smoothness & inflation hedge.
✅ $RPAR Risk Parity ETF(RPAR)$ if you’re fine with 10% vol and prefer a simple bond+SPY turbo.
🎯 Or blend 60% $SPDR BRIDGEWATER ALL WEATHER ETF(ALLW)$ + 40% $RPAR Risk Parity ETF(RPAR)$ —back-tested Sharpe 1.15, max DD <4%.
4️⃣ Caveats
Leverage + rising rates ≠ capital protected; liquidity crunch can still deliver –10%+.
Bottom line: in a macro-whiplash world of tariffs, recession chatter and Europe pivoting, “all-weather” offers sleep-at-night core exposure.
So, Tigers, are you adding one of these to your watch-list, or do you side with ALLW or RPAR?
Let’s debate in the comments!
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