ABI vs. RAAA

Last updated Jul 16, 2026

ABI (VictoryShares Pioneer Asset-Based Income ETF) and RAAA (Reckoner Leveraged AAA CLO ETF) are both exchange-traded funds - ABI is a Multisector Bonds fund managed by VictoryShares, while RAAA is a CLO fund actively managed by Reckoner. Over the past year, ABI returned 5.40% vs 5.40% for RAAA. At a 0.06 correlation, their price movements are largely independent. ABI charges 0.65%/yr vs 0.30%/yr for RAAA.

Performance

ABI vs. RAAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares Pioneer Asset-Based Income ETF (ABI) and Reckoner Leveraged AAA CLO ETF (RAAA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ABI achieves a 3.24% return, which is significantly higher than RAAA's 2.91% return.

ABI

• 1D: 0.08%
• 1M: 0.40%
• 6M: 2.69%
• YTD: 3.24%
• 1Y: 5.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RAAA

• 1D: 0.02%
• 1M: 0.51%
• 6M: 2.52%
• YTD: 2.91%
• 1Y: 5.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ABI vs. RAAA - Yearly Performance Comparison

	2026 (YTD)	2025
ABI VictoryShares Pioneer Asset-Based Income ETF	3.24%	2.07%
RAAA Reckoner Leveraged AAA CLO ETF	2.91%	2.52%

Correlation

The correlation between ABI and RAAA is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.06

Return for Risk

ABI vs. RAAA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ABI

ABI Risk / Return Rank: 96
ABI Sharpe Ratio Rank: 98
ABI Sortino Ratio Rank: 98
ABI Omega Ratio Rank: 98
ABI Calmar Ratio Rank: 94
ABI Martin Ratio Rank: 91

RAAA

RAAA Risk / Return Rank: 97
RAAA Sharpe Ratio Rank: 98
RAAA Sortino Ratio Rank: 97
RAAA Omega Ratio Rank: 98
RAAA Calmar Ratio Rank: 96
RAAA Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ABI vs. RAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares Pioneer Asset-Based Income ETF (ABI) and Reckoner Leveraged AAA CLO ETF (RAAA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ABI	RAAA	Difference
Sharpe ratio: Return per unit of total volatility	4.25	4.08	+0.17
Sortino ratio: Return per unit of downside risk	6.46	5.90	+0.57
Omega ratio: Gain probability vs. loss probability	2.04	2.12	-0.08
Calmar ratio: Return relative to maximum drawdown	5.70	7.65	-1.95
Martin ratio: Return relative to average drawdown	17.29	42.70	-25.41

ABI vs. RAAA - Sharpe Ratio Comparison

The current ABI Sharpe Ratio is 4.25, which is comparable to the RAAA Sharpe Ratio of 4.08. The chart below compares the historical Sharpe Ratios of ABI and RAAA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ABI vs. RAAA - Drawdown Comparison

The maximum ABI drawdown since its inception was -0.95%, which is greater than RAAA's maximum drawdown of -0.71%. Use the drawdown chart below to compare losses from any high point for ABI and RAAA.

Drawdown Indicators

	ABI	RAAA	Difference
Max Drawdown Largest peak-to-trough decline	-0.95%	-0.71%	-0.24%
Max Drawdown (1Y) Largest decline over 1 year	-0.95%	-0.71%	-0.24%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.17%	-0.06%	-0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.31%	0.13%	+0.18%

Volatility

ABI vs. RAAA - Volatility Comparison

VictoryShares Pioneer Asset-Based Income ETF (ABI) has a higher volatility of 0.35% compared to Reckoner Leveraged AAA CLO ETF (RAAA) at 0.15%. This indicates that ABI's price experiences larger fluctuations and is considered to be riskier than RAAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ABI	RAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.35%	0.15%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	0.82%	0.98%	-0.16%
Volatility (1Y) Calculated over the trailing 1-year period	1.28%	1.33%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.26%	1.32%	-0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.26%	1.32%	-0.06%

ABI vs. RAAA - Expense Ratio Comparison

ABI has a 0.65% expense ratio, which is higher than RAAA's 0.30% expense ratio.

Dividends

ABI vs. RAAA - Dividend Comparison

ABI's dividend yield for the trailing twelve months is around 6.20%, more than RAAA's 5.21% yield.

Position	TTM	2025
ABI VictoryShares Pioneer Asset-Based Income ETF	6.20%	3.01%
RAAA Reckoner Leveraged AAA CLO ETF	5.21%	2.70%

Frequently Asked Questions

Can I hold both ABI and RAAA in my portfolio?

ABI and RAAA have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ABI or RAAA?

ABI has higher volatility (0.35%) compared to RAAA (0.15%). In terms of maximum drawdown, ABI dropped -0.95% vs RAAA's -0.71%.

Which ETF is better, ABI or RAAA?

On 1-year performance, RAAA leads with 5.40% vs 5.40% for ABI. On fees, RAAA is cheaper at 0.30% per year. On volatility, RAAA has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ABI or RAAA?

Over the 1-year period, RAAA has performed better with a 5.40% return vs 5.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ABI or RAAA?

RAAA is cheaper with a 0.30% expense ratio, compared with 0.65% for ABI.

Which ETF pays a higher dividend yield, ABI or RAAA?

ABI has the higher dividend yield at 6.20%, compared with 5.21% for RAAA.

What is the main difference between ABI and RAAA?

ABI is categorized as Multisector Bonds, while RAAA is CLO. They also come from different issuers: VictoryShares and Reckoner. Their fees differ too: 0.65% for ABI and 0.30% for RAAA.

Which has better risk-adjusted returns?

ABI currently has the higher Sharpe Ratio (4.25 vs 4.08), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.