QUIZ vs. RAAY

Last updated Jul 31, 2026

QUIZ (Zacks Quality International ETF) and RAAY (Reckoner Yield Enhanced AAA CLO Annual ETF) are both exchange-traded funds - QUIZ is a Quality Factor fund actively managed by Zacks, while RAAY is a Actively Managed fund actively managed by Reckoner. Both are actively managed. Their 0.07 correlation means their historical movements had little consistent relationship. QUIZ charges 0.55%/yr vs 0.35%/yr for RAAY.

Performance

QUIZ vs. RAAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Zacks Quality International ETF (QUIZ) and Reckoner Yield Enhanced AAA CLO Annual ETF (RAAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QUIZ

• 1D: 3.39%
• 1M: 0.07%
• 6M: 3.47%
• YTD: 10.24%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

RAAY

• 1D: 0.02%
• 1M: 0.34%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QUIZ Zacks Quality International ETF	$623.62K	$640.70K	$575.01K
RAAY Reckoner Yield Enhanced AAA CLO Annual ETF	$807.56	$729.53	$296.13

QUIZ vs. RAAY - Yearly Performance Comparison

	2026 (YTD)
QUIZ Zacks Quality International ETF	0.22%
RAAY Reckoner Yield Enhanced AAA CLO Annual ETF	2.27%

Correlation

The correlation between QUIZ and RAAY is 0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 11, 2026	0.07

Return for Risk

QUIZ vs. RAAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Zacks Quality International ETF (QUIZ) and Reckoner Yield Enhanced AAA CLO Annual ETF (RAAY). 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.

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

Drawdowns

QUIZ vs. RAAY - Drawdown Comparison

The maximum QUIZ drawdown since its inception was -11.75%, which is greater than RAAY's maximum drawdown of -0.62%. Use the drawdown chart below to compare losses from any high point for QUIZ and RAAY.

Drawdown Indicators

	QUIZ	RAAY	Difference
Max Drawdown Largest peak-to-trough decline	-11.75%	-0.62%	-11.13%
Current Drawdown Current decline from peak	-1.32%	0.00%	-1.32%
Average Drawdown Average peak-to-trough decline	-2.24%	-0.07%	-2.17%

Volatility

Volatility by Period

	QUIZ	RAAY	Difference
Volatility (1Y) Calculated over the trailing 1-year period	19.07%	1.29%	+17.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.07%	1.29%	+17.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.07%	1.29%	+17.78%

QUIZ vs. RAAY - Expense Ratio Comparison

QUIZ has a 0.55% expense ratio, which is higher than RAAY's 0.35% expense ratio.

Dividends

QUIZ vs. RAAY - Dividend Comparison

QUIZ's dividend yield for the trailing twelve months is around 0.16%, while RAAY has not paid dividends to shareholders.

Position	TTM	2025
QUIZ Zacks Quality International ETF	0.16%	0.18%
RAAY Reckoner Yield Enhanced AAA CLO Annual ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both QUIZ and RAAY in my portfolio?

QUIZ and RAAY have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QUIZ or RAAY?

On fees, RAAY is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QUIZ or RAAY?

RAAY is cheaper with a 0.35% expense ratio, compared with 0.55% for QUIZ.

Which ETF pays a higher dividend yield, QUIZ or RAAY?

QUIZ has the higher dividend yield at 0.16%, compared with 0.00% for RAAY.

What is the main difference between QUIZ and RAAY?

QUIZ is categorized as Quality Factor, while RAAY is Actively Managed. They also come from different issuers: Zacks and Reckoner. Their fees differ too: 0.55% for QUIZ and 0.35% for RAAY.