RAAA vs. CLOC

Last updated Jun 4, 2026

RAAA (Reckoner Leveraged AAA CLO ETF) and CLOC (AAM Crescent CLO ETF) are both CLO funds. Both are actively managed. At a 0.06 correlation, their price movements are largely independent. RAAA charges 0.30%/yr vs 0.49%/yr for CLOC.

Performance

RAAA vs. CLOC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Reckoner Leveraged AAA CLO ETF (RAAA) and AAM Crescent CLO ETF (CLOC). 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 lower than CLOC's 2.34% return.

RAAA

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

CLOC

• 1D: 0.00%
• 1M: 0.62%
• YTD: 2.34%
• 6M: 2.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RAAA vs. CLOC - Yearly Performance Comparison

	2026 (YTD)	2025
RAAA Reckoner Leveraged AAA CLO ETF	2.18%	1.02%
CLOC AAM Crescent CLO ETF	2.34%	0.93%

Correlation

The correlation between RAAA and CLOC is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 24, 2025	0.06

Return for Risk

RAAA vs. CLOC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Reckoner Leveraged AAA CLO ETF (RAAA) and AAM Crescent CLO ETF (CLOC). 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	CLOC	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	3.76	6.09	-2.34

Drawdowns

RAAA vs. CLOC - Drawdown Comparison

The maximum RAAA drawdown since its inception was -0.71%, which is greater than CLOC's maximum drawdown of -0.54%. Use the drawdown chart below to compare losses from any high point for RAAA and CLOC.

Drawdown Indicators

	RAAA	CLOC	Difference
Max Drawdown Largest peak-to-trough decline	-0.71%	-0.54%	-0.17%
Current Drawdown Current decline from peak	-0.23%	0.00%	-0.23%
Average Drawdown Average peak-to-trough decline	-0.06%	-0.07%	+0.01%

Volatility

Volatility by Period

	RAAA	CLOC	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.39%	0.91%	+0.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.39%	0.91%	+0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.39%	0.91%	+0.48%

RAAA vs. CLOC - Expense Ratio Comparison

RAAA has a 0.30% expense ratio, which is lower than CLOC's 0.49% expense ratio.

Dividends

RAAA vs. CLOC - Dividend Comparison

RAAA's dividend yield for the trailing twelve months is around 4.79%, more than CLOC's 3.67% yield.

Position	TTM	2025
CLOC AAM Crescent CLO ETF	3.67%	1.15%
RAAA Reckoner Leveraged AAA CLO ETF	4.79%	2.70%

Frequently Asked Questions

Can I hold both RAAA and CLOC in my portfolio?

RAAA and CLOC have a correlation of 0.06, 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 CLOC?

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.

Which ETF is cheaper, RAAA or CLOC?

RAAA is cheaper with a 0.30% expense ratio, compared with 0.49% for CLOC.

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

RAAA has the higher dividend yield at 4.79%, compared with 3.67% for CLOC.

What is the main difference between RAAA and CLOC?

They also come from different issuers: Reckoner and AAM. Their fees differ too: 0.30% for RAAA and 0.49% for CLOC.