CLOC vs. RAAA

Last updated Jun 3, 2026

CLOC (AAM Crescent CLO ETF) and RAAA (Reckoner Leveraged AAA CLO ETF) are both CLO funds. Both are actively managed. At a 0.06 correlation, their price movements are largely independent. CLOC charges 0.49%/yr vs 0.30%/yr for RAAA.

Performance

CLOC vs. RAAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM Crescent CLO ETF (CLOC) 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, CLOC achieves a 2.34% return, which is significantly higher than RAAA's 2.20% return.

CLOC

• 1D: 0.02%
• 1M: 0.64%
• YTD: 2.34%
• 6M: 2.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

RAAA

• 1D: -0.18%
• 1M: 0.27%
• YTD: 2.20%
• 6M: 2.71%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CLOC vs. RAAA - Yearly Performance Comparison

	2026 (YTD)	2025
CLOC AAM Crescent CLO ETF	2.34%	0.93%
RAAA Reckoner Leveraged AAA CLO ETF	2.20%	1.02%

Correlation

The correlation between CLOC and RAAA is 0.06, 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 (All Time) Calculated using the full available price history since Oct 24, 2025	0.06

Return for Risk

CLOC vs. RAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM Crescent CLO ETF (CLOC) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CLOC	RAAA	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	6.12	3.78	+2.33

Drawdowns

CLOC vs. RAAA - Drawdown Comparison

The maximum CLOC drawdown since its inception was -0.54%, smaller than the maximum RAAA drawdown of -0.71%. Use the drawdown chart below to compare losses from any high point for CLOC and RAAA.

Drawdown Indicators

	CLOC	RAAA	Difference
Max Drawdown Largest peak-to-trough decline	-0.54%	-0.71%	+0.17%
Current Drawdown Current decline from peak	0.00%	-0.21%	+0.21%
Average Drawdown Average peak-to-trough decline	-0.07%	-0.06%	-0.01%

Volatility

Volatility by Period

	CLOC	RAAA	Difference
Volatility (1Y) Calculated over the trailing 1-year period	0.91%	1.40%	-0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.91%	1.40%	-0.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.91%	1.40%	-0.49%

CLOC vs. RAAA - Expense Ratio Comparison

CLOC has a 0.49% expense ratio, which is higher than RAAA's 0.30% expense ratio.

Dividends

CLOC vs. RAAA - Dividend Comparison

CLOC's dividend yield for the trailing twelve months is around 3.67%, less than RAAA's 4.79% yield.

Position	TTM	2025
CLOC AAM Crescent CLO ETF	3.67%	1.15%
RAAA Reckoner Leveraged AAA CLO ETF	4.79%	2.70%

Frequently Asked Questions

Can I hold both CLOC and RAAA in my portfolio?

CLOC and RAAA have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CLOC or RAAA?

On fees, RAAA is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CLOC or RAAA?

RAAA is cheaper with a 0.30% expense ratio, compared with 0.49% for CLOC.

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

RAAA has the higher dividend yield at 4.79%, compared with 3.67% for CLOC.

What is the main difference between CLOC and RAAA?

They also come from different issuers: AAM and Reckoner. Their fees differ too: 0.49% for CLOC and 0.30% for RAAA.