RAAA vs. FOXY

Last updated Jun 5, 2026

RAAA (Reckoner Leveraged AAA CLO ETF) and FOXY (Simplify Currency Strategy ETF) are both exchange-traded funds - RAAA is a CLO fund actively managed by Reckoner, while FOXY is a Leveraged Currency fund actively managed by Simplify. Both are actively managed. At a correlation of -0.05, they often move in opposite directions. RAAA charges 0.30%/yr vs 0.81%/yr for FOXY.

Performance

RAAA vs. FOXY - Performance Comparison

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

Returns By Period

In the year-to-date period, RAAA achieves a 2.20% return, which is significantly lower than FOXY's 12.20% return.

RAAA

• 1D: 0.02%
• 1M: 0.21%
• YTD: 2.20%
• 6M: 2.54%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FOXY

• 1D: 0.58%
• 1M: 2.49%
• YTD: 12.20%
• 6M: 7.84%
• 1Y: 22.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RAAA vs. FOXY - Yearly Performance Comparison

	2026 (YTD)	2025
RAAA Reckoner Leveraged AAA CLO ETF	2.20%	2.46%
FOXY Simplify Currency Strategy ETF	12.20%	7.11%

Correlation

The correlation between RAAA and FOXY 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. FOXY — Risk / Return Rank

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

FOXY

FOXY Risk / Return Rank: 77
FOXY Sharpe Ratio Rank: 71
FOXY Sortino Ratio Rank: 76
FOXY Omega Ratio Rank: 70
FOXY Calmar Ratio Rank: 89
FOXY Martin Ratio Rank: 77

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. FOXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Reckoner Leveraged AAA CLO ETF (RAAA) and Simplify Currency Strategy ETF (FOXY). 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	FOXY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.77	1.40	+2.37

Drawdowns

RAAA vs. FOXY - Drawdown Comparison

The maximum RAAA drawdown since its inception was -0.71%, smaller than the maximum FOXY drawdown of -13.09%. Use the drawdown chart below to compare losses from any high point for RAAA and FOXY.

Drawdown Indicators

	RAAA	FOXY	Difference
Max Drawdown Largest peak-to-trough decline	-0.71%	-13.09%	+12.38%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.32%	—
Current Drawdown Current decline from peak	-0.21%	-0.74%	+0.53%
Average Drawdown Average peak-to-trough decline	-0.06%	-2.11%	+2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.54%	—

Volatility

Volatility by Period

	RAAA	FOXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.18%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.43%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.39%	9.90%	-8.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.39%	15.05%	-13.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.39%	15.05%	-13.66%

RAAA vs. FOXY - Expense Ratio Comparison

RAAA has a 0.30% expense ratio, which is lower than FOXY's 0.81% expense ratio.

Dividends

RAAA vs. FOXY - Dividend Comparison

RAAA's dividend yield for the trailing twelve months is around 4.79%, less than FOXY's 8.09% yield.

Position	TTM	2025
FOXY Simplify Currency Strategy ETF	8.09%	5.51%
RAAA Reckoner Leveraged AAA CLO ETF	4.79%	2.70%

Frequently Asked Questions

Can I hold both RAAA and FOXY in my portfolio?

RAAA and FOXY 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 FOXY?

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 FOXY?

RAAA is cheaper with a 0.30% expense ratio, compared with 0.81% for FOXY.

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

FOXY has the higher dividend yield at 8.09%, compared with 4.79% for RAAA.

What is the main difference between RAAA and FOXY?

RAAA is categorized as CLO, while FOXY is Leveraged Currency. They also come from different issuers: Reckoner and Simplify. Their fees differ too: 0.30% for RAAA and 0.81% for FOXY.