CLOI vs. RAAA
CLOI (VanEck CLO ETF) and RAAA (Reckoner Leveraged AAA CLO ETF) are both CLO funds. Both are actively managed. At a 0.15 correlation, their price movements are largely independent. CLOI charges 0.40%/yr vs 0.30%/yr for RAAA.
Performance
CLOI vs. RAAA - Performance Comparison
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Returns By Period
In the year-to-date period, CLOI achieves a 2.06% return, which is significantly lower than RAAA's 2.18% return.
CLOI
- 1D
- 0.00%
- 1M
- 0.61%
- YTD
- 2.06%
- 6M
- 2.58%
- 1Y
- 5.56%
- 3Y*
- 7.11%
- 5Y*
- —
- 10Y*
- —
RAAA
- 1D
- -0.02%
- 1M
- 0.23%
- YTD
- 2.18%
- 6M
- 2.50%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CLOI vs. RAAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CLOI VanEck CLO ETF | 2.06% | 2.82% |
RAAA Reckoner Leveraged AAA CLO ETF | 2.18% | 2.46% |
Correlation
The correlation between CLOI and RAAA is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 10, 2025 | 0.15 |
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Return for Risk
CLOI vs. RAAA — Risk / Return Rank
CLOI
RAAA
CLOI vs. RAAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck CLO ETF (CLOI) 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.
| CLOI | RAAA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 2.16 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 8.95 | — | — |
| Martin ratioReturn relative to average drawdown | 42.16 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CLOI | RAAA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.72 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.77 | 3.76 | -0.99 |
Drawdowns
CLOI vs. RAAA - Drawdown Comparison
The maximum CLOI drawdown since its inception was -3.25%, which is greater than RAAA's maximum drawdown of -0.71%. Use the drawdown chart below to compare losses from any high point for CLOI and RAAA.
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Drawdown Indicators
| CLOI | RAAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.25% | -0.71% | -2.54% |
Max Drawdown (1Y)Largest decline over 1 year | -0.62% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -3.25% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.23% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -0.19% | -0.06% | -0.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.13% | — | — |
Volatility
CLOI vs. RAAA - Volatility Comparison
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Volatility by Period
| CLOI | RAAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.14% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.67% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.19% | 1.39% | -0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.56% | 1.39% | +1.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.56% | 1.39% | +1.17% |
CLOI vs. RAAA - Expense Ratio Comparison
CLOI has a 0.40% expense ratio, which is higher than RAAA's 0.30% expense ratio.
Dividends
CLOI vs. RAAA - Dividend Comparison
CLOI's dividend yield for the trailing twelve months is around 5.35%, more than RAAA's 4.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CLOI VanEck CLO ETF | 5.35% | 5.61% | 6.71% | 5.61% | 2.23% |
RAAA Reckoner Leveraged AAA CLO ETF | 4.79% | 2.70% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CLOI and RAAA have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
RAAA is cheaper with a 0.30% expense ratio, compared with 0.40% for CLOI.
CLOI has the higher dividend yield at 5.35%, compared with 4.79% for RAAA.
They also come from different issuers: VanEck and Reckoner. Their fees differ too: 0.40% for CLOI and 0.30% for RAAA.
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