RAAA vs. AAAC

Last updated Jun 4, 2026

RAAA (Reckoner Leveraged AAA CLO ETF) and AAAC (Columbia AAA CLO ETF) are both CLO funds. Both are actively managed. At a 0.21 correlation, their price movements are largely independent. RAAA charges 0.30%/yr vs 0.20%/yr for AAAC.

Performance

RAAA vs. AAAC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Reckoner Leveraged AAA CLO ETF (RAAA) and Columbia AAA CLO ETF (AAAC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RAAA achieves a 2.18% return, which is significantly higher than AAAC's 2.06% return.

RAAA

• 1D: -0.02%
• 1M: 0.23%
• YTD: 2.18%
• 6M: 2.50%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAAC

• 1D: 0.00%
• 1M: 0.35%
• YTD: 2.06%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RAAA vs. AAAC - Yearly Performance Comparison

	2026 (YTD)	2025
RAAA Reckoner Leveraged AAA CLO ETF	2.18%	0.28%
AAAC Columbia AAA CLO ETF	2.06%	0.20%

Correlation

The correlation between RAAA and AAAC is 0.21, 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 Dec 12, 2025	0.21

Return for Risk

RAAA vs. AAAC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Reckoner Leveraged AAA CLO ETF (RAAA) and Columbia AAA CLO ETF (AAAC). 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

	RAAA	AAAC	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	3.76	5.56	-1.81

Drawdowns

RAAA vs. AAAC - Drawdown Comparison

The maximum RAAA drawdown since its inception was -0.71%, which is greater than AAAC's maximum drawdown of -0.55%. Use the drawdown chart below to compare losses from any high point for RAAA and AAAC.

Drawdown Indicators

	RAAA	AAAC	Difference
Max Drawdown Largest peak-to-trough decline	-0.71%	-0.55%	-0.16%
Current Drawdown Current decline from peak	-0.23%	0.00%	-0.23%
Average Drawdown Average peak-to-trough decline	-0.06%	-0.04%	-0.02%

Volatility

Volatility by Period

	RAAA	AAAC	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.39%	0.89%	+0.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.39%	0.89%	+0.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.39%	0.89%	+0.50%

RAAA vs. AAAC - Expense Ratio Comparison

RAAA has a 0.30% expense ratio, which is higher than AAAC's 0.20% expense ratio.

Dividends

RAAA vs. AAAC - Dividend Comparison

RAAA's dividend yield for the trailing twelve months is around 4.79%, more than AAAC's 2.27% yield.

Position	TTM	2025
AAAC Columbia AAA CLO ETF	2.27%	0.03%
RAAA Reckoner Leveraged AAA CLO ETF	4.79%	2.70%

Frequently Asked Questions

Can I hold both RAAA and AAAC in my portfolio?

RAAA and AAAC have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RAAA or AAAC?

On fees, AAAC is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RAAA or AAAC?

AAAC is cheaper with a 0.20% expense ratio, compared with 0.30% for RAAA.

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

RAAA has the higher dividend yield at 4.79%, compared with 2.27% for AAAC.

What is the main difference between RAAA and AAAC?

They also come from different issuers: Reckoner and Columbia Threadneedle. Their fees differ too: 0.30% for RAAA and 0.20% for AAAC.