RAAA vs. EVSB

Last updated Jun 4, 2026

RAAA (Reckoner Leveraged AAA CLO ETF) and EVSB (Eaton Vance Ultra-Short Income ETF) are both exchange-traded funds - RAAA is a CLO fund actively managed by Reckoner, while EVSB is a Ultrashort Bond fund actively managed by Eaton Vance. Both are actively managed. At a correlation of -0.05, they often move in opposite directions. RAAA charges 0.30%/yr vs 0.17%/yr for EVSB.

Performance

RAAA vs. EVSB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Reckoner Leveraged AAA CLO ETF (RAAA) and Eaton Vance Ultra-Short Income ETF (EVSB). 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 EVSB's 1.66% return.

RAAA

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

EVSB

• 1D: -0.01%
• 1M: 0.40%
• YTD: 1.66%
• 6M: 2.00%
• 1Y: 4.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RAAA vs. EVSB - Yearly Performance Comparison

	2026 (YTD)	2025
RAAA Reckoner Leveraged AAA CLO ETF	2.18%	2.46%
EVSB Eaton Vance Ultra-Short Income ETF	1.66%	2.52%

Correlation

The correlation between RAAA and EVSB is -0.05, 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 Jul 10, 2025	-0.05

Return for Risk

RAAA vs. EVSB — Risk / Return Rank

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

EVSB

EVSB Risk / Return Rank: 99
EVSB Sharpe Ratio Rank: 98
EVSB Sortino Ratio Rank: 99
EVSB Omega Ratio Rank: 99
EVSB Calmar Ratio Rank: 98
EVSB Martin Ratio Rank: 99

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. EVSB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Reckoner Leveraged AAA CLO ETF (RAAA) and Eaton Vance Ultra-Short Income ETF (EVSB). 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	EVSB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	6.11	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.76	6.94	-3.18

Drawdowns

RAAA vs. EVSB - Drawdown Comparison

The maximum RAAA drawdown since its inception was -0.71%, which is greater than EVSB's maximum drawdown of -0.31%. Use the drawdown chart below to compare losses from any high point for RAAA and EVSB.

Drawdown Indicators

	RAAA	EVSB	Difference
Max Drawdown Largest peak-to-trough decline	-0.71%	-0.31%	-0.40%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.25%	—
Current Drawdown Current decline from peak	-0.23%	-0.05%	-0.18%
Average Drawdown Average peak-to-trough decline	-0.06%	-0.02%	-0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.04%	—

Volatility

Volatility by Period

	RAAA	EVSB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.19%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.51%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.39%	0.77%	+0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.39%	0.82%	+0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.39%	0.82%	+0.57%

RAAA vs. EVSB - Expense Ratio Comparison

RAAA has a 0.30% expense ratio, which is higher than EVSB's 0.17% expense ratio.

Dividends

RAAA vs. EVSB - Dividend Comparison

RAAA's dividend yield for the trailing twelve months is around 4.79%, more than EVSB's 4.63% yield.

Position	TTM	2025	2024	2023
EVSB Eaton Vance Ultra-Short Income ETF	4.63%	4.63%	5.18%	1.21%
RAAA Reckoner Leveraged AAA CLO ETF	4.79%	2.70%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RAAA and EVSB in my portfolio?

RAAA and EVSB have a correlation of -0.05, 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 EVSB?

On fees, EVSB is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RAAA or EVSB?

EVSB is cheaper with a 0.17% expense ratio, compared with 0.30% for RAAA.

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

RAAA has the higher dividend yield at 4.79%, compared with 4.63% for EVSB.

What is the main difference between RAAA and EVSB?

RAAA is categorized as CLO, while EVSB is Ultrashort Bond. They also come from different issuers: Reckoner and Eaton Vance. Their fees differ too: 0.30% for RAAA and 0.17% for EVSB.