RAAA vs. AGZD

Last updated Jul 10, 2026

RAAA (Reckoner Leveraged AAA CLO ETF) and AGZD (WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund) are both exchange-traded funds - RAAA is a CLO fund actively managed by Reckoner, while AGZD is a Nontraditional Bonds fund tracking the Bloomberg Rate Hedged U.S. Aggregate Bond Index, Zero Duration. RAAA is actively managed, while AGZD is passively managed. Over the past year, RAAA returned 5.33% vs 5.35% for AGZD. At a correlation of -0.16, they often move in opposite directions. RAAA charges 0.30%/yr vs 0.23%/yr for AGZD.

Performance

RAAA vs. AGZD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Reckoner Leveraged AAA CLO ETF (RAAA) and WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RAAA achieves a 2.80% return, which is significantly higher than AGZD's 2.51% return.

RAAA

• 1D: 0.00%
• 1M: 0.49%
• 6M: 2.51%
• YTD: 2.80%
• 1Y: 5.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AGZD

• 1D: 0.00%
• 1M: 0.18%
• 6M: 2.35%
• YTD: 2.51%
• 1Y: 5.35%
• 3Y*: 5.74%
• 5Y*: 4.35%
• 10Y*: 3.18%

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

RAAA vs. AGZD - Yearly Performance Comparison

	2026 (YTD)	2025
RAAA Reckoner Leveraged AAA CLO ETF	2.80%	2.52%
AGZD WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund	2.51%	2.40%

Correlation

The correlation between RAAA and AGZD is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.16
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	-0.16

Return for Risk

RAAA vs. AGZD — Risk / Return Rank

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

RAAA

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

AGZD

AGZD Risk / Return Rank: 87
AGZD Sharpe Ratio Rank: 80
AGZD Sortino Ratio Rank: 83
AGZD Omega Ratio Rank: 83
AGZD Calmar Ratio Rank: 96
AGZD Martin Ratio Rank: 94

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.

RAAA vs. AGZD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Reckoner Leveraged AAA CLO ETF (RAAA) and WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD). 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.

	RAAA	AGZD	Difference
Sharpe ratio: Return per unit of total volatility	4.03	2.01	+2.03
Sortino ratio: Return per unit of downside risk	5.82	2.92	+2.90
Omega ratio: Gain probability vs. loss probability	2.10	1.39	+0.71
Calmar ratio: Return relative to maximum drawdown	7.56	7.34	+0.22
Martin ratio: Return relative to average drawdown	42.18	21.55	+20.62

RAAA vs. AGZD - Sharpe Ratio Comparison

The current RAAA Sharpe Ratio is 4.03, which is higher than the AGZD Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of RAAA and AGZD, 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

RAAA vs. AGZD - Drawdown Comparison

The maximum RAAA drawdown since its inception was -0.71%, smaller than the maximum AGZD drawdown of -8.46%. Use the drawdown chart below to compare losses from any high point for RAAA and AGZD.

Drawdown Indicators

	RAAA	AGZD	Difference
Max Drawdown Largest peak-to-trough decline	-0.71%	-8.46%	+7.75%
Max Drawdown (1Y) Largest decline over 1 year	-0.71%	-0.73%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	—	-1.71%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-2.23%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-8.46%	—
Current Drawdown Current decline from peak	0.00%	-0.34%	+0.34%
Average Drawdown Average peak-to-trough decline	-0.06%	-0.77%	+0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.13%	0.25%	-0.12%

Volatility

RAAA vs. AGZD - Volatility Comparison

The current volatility for Reckoner Leveraged AAA CLO ETF (RAAA) is 0.12%, while WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD) has a volatility of 0.70%. This indicates that RAAA experiences smaller price fluctuations and is considered to be less risky than AGZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RAAA	AGZD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.12%	0.70%	-0.58%
Volatility (6M) Calculated over the trailing 6-month period	1.00%	1.96%	-0.96%
Volatility (1Y) Calculated over the trailing 1-year period	1.33%	2.70%	-1.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.33%	3.60%	-2.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.33%	3.71%	-2.38%

RAAA vs. AGZD - Expense Ratio Comparison

RAAA has a 0.30% expense ratio, which is higher than AGZD's 0.23% expense ratio.

Dividends

RAAA vs. AGZD - Dividend Comparison

RAAA's dividend yield for the trailing twelve months is around 5.21%, more than AGZD's 3.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGZD WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund	3.99%	4.12%	3.96%	6.07%	8.61%	1.66%	2.28%	2.83%	2.62%	2.31%	1.81%	1.66%
RAAA Reckoner Leveraged AAA CLO ETF	5.21%	2.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RAAA and AGZD in my portfolio?

RAAA and AGZD have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RAAA or AGZD?

AGZD has higher volatility (0.70%) compared to RAAA (0.12%). In terms of maximum drawdown, RAAA dropped -0.71% vs AGZD's -8.46%.

Which ETF is better, RAAA or AGZD?

On 1-year performance, AGZD leads with 5.35% vs 5.33% for RAAA. On fees, AGZD is cheaper at 0.23% per year. On volatility, RAAA has been the lower-risk option at 0.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RAAA or AGZD?

Over the 1-year period, AGZD has performed better with a 5.35% return vs 5.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RAAA or AGZD?

AGZD is cheaper with a 0.23% expense ratio, compared with 0.30% for RAAA.

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

RAAA has the higher dividend yield at 5.21%, compared with 3.99% for AGZD.

What is the main difference between RAAA and AGZD?

RAAA is categorized as CLO, while AGZD is Nontraditional Bonds. They also come from different issuers: Reckoner and WisdomTree. Their fees differ too: 0.30% for RAAA and 0.23% for AGZD.

Which has better risk-adjusted returns?

RAAA currently has the higher Sharpe Ratio (4.03 vs 2.01), 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.