RAAA vs. CLOB
RAAA (Reckoner Leveraged AAA CLO ETF) and CLOB (VanEck AA-BB CLO ETF) are both CLO funds. Both are actively managed. Over the past year, RAAA returned 5.39% vs 5.72% for CLOB. At a 0.10 correlation, their price movements are largely independent. RAAA charges 0.30%/yr vs 0.45%/yr for CLOB.
Performance
RAAA vs. CLOB - Performance Comparison
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Returns By Period
In the year-to-date period, RAAA achieves a 2.90% return, which is significantly higher than CLOB's 2.18% return.
RAAA
- 1D
- -0.00%
- 1M
- 0.49%
- 6M
- 2.51%
- YTD
- 2.90%
- 1Y
- 5.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CLOB
- 1D
- -0.11%
- 1M
- 0.25%
- 6M
- 1.80%
- YTD
- 2.18%
- 1Y
- 5.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RAAA vs. CLOB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
RAAA Reckoner Leveraged AAA CLO ETF | 2.90% | 2.52% |
CLOB VanEck AA-BB CLO ETF | 2.18% | 3.46% |
Correlation
The correlation between RAAA and CLOB is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025 | 0.10 |
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Return for Risk
RAAA vs. CLOB — Risk / Return Rank
RAAA
CLOB
RAAA vs. CLOB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Reckoner Leveraged AAA CLO ETF (RAAA) and VanEck AA-BB CLO ETF (CLOB). 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 | CLOB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.07 | ||
| Sortino ratioReturn per unit of downside risk | +2.99 | ||
| Omega ratioGain probability vs. loss probability | 2.12 | 1.44 | +0.68 |
| Calmar ratioReturn relative to maximum drawdown | 7.65 | 2.94 | +4.71 |
| Martin ratioReturn relative to average drawdown | 42.67 | 12.66 | +30.02 |
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Drawdowns
RAAA vs. CLOB - Drawdown Comparison
The maximum RAAA drawdown since its inception was -0.71%, smaller than the maximum CLOB drawdown of -5.54%. Use the drawdown chart below to compare losses from any high point for RAAA and CLOB.
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Drawdown Indicators
| RAAA | CLOB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.71% | -5.54% | +4.83% |
Max Drawdown (1Y)Largest decline over 1 year | -0.71% | -1.96% | +1.25% |
Current DrawdownCurrent decline from peak | -0.00% | -0.14% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -0.06% | -0.29% | +0.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.13% | 0.45% | -0.32% |
Volatility
RAAA vs. CLOB - Volatility Comparison
The current volatility for Reckoner Leveraged AAA CLO ETF (RAAA) is 0.15%, while VanEck AA-BB CLO ETF (CLOB) has a volatility of 0.39%. This indicates that RAAA experiences smaller price fluctuations and is considered to be less risky than CLOB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RAAA | CLOB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 0.39% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 0.96% | 2.42% | -1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.33% | 2.85% | -1.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.32% | 5.36% | -4.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.32% | 5.36% | -4.04% |
RAAA vs. CLOB - Expense Ratio Comparison
RAAA has a 0.30% expense ratio, which is lower than CLOB's 0.45% expense ratio.
Dividends
RAAA vs. CLOB - Dividend Comparison
RAAA's dividend yield for the trailing twelve months is around 5.21%, less than CLOB's 6.33% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CLOB VanEck AA-BB CLO ETF | 6.33% | 6.61% | 1.65% |
RAAA Reckoner Leveraged AAA CLO ETF | 5.21% | 2.70% | 0.00% |
Frequently Asked Questions
RAAA and CLOB have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CLOB has higher volatility (0.39%) compared to RAAA (0.15%). In terms of maximum drawdown, RAAA dropped -0.71% vs CLOB's -5.54%.
On 1-year performance, CLOB leads with 5.72% vs 5.39% for RAAA. On fees, RAAA is cheaper at 0.30% per year. On volatility, RAAA has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CLOB has performed better with a 5.72% return vs 5.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RAAA is cheaper with a 0.30% expense ratio, compared with 0.45% for CLOB.
CLOB has the higher dividend yield at 6.33%, compared with 5.21% for RAAA.
They also come from different issuers: Reckoner and VanEck. Their fees differ too: 0.30% for RAAA and 0.45% for CLOB.
RAAA currently has the higher Sharpe Ratio (4.08 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.
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