RAAR vs. RAAY

Last updated Jul 10, 2026

RAAR (Reckoner Yield Enhanced AAA CLO Reinvesting ETF) and RAAY (Reckoner Yield Enhanced AAA CLO Annual ETF) are both Actively Managed funds from Reckoner. Both are actively managed. A 0.62 correlation means they provide meaningful diversification when combined. RAAR charges 0.40%/yr vs 0.35%/yr for RAAY.

Performance

RAAR vs. RAAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Reckoner Yield Enhanced AAA CLO Reinvesting ETF (RAAR) and Reckoner Yield Enhanced AAA CLO Annual ETF (RAAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

RAAR

• 1D: -0.07%
• 1M: 0.48%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

RAAY

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

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

RAAR vs. RAAY - Yearly Performance Comparison

	2026 (YTD)
RAAR Reckoner Yield Enhanced AAA CLO Reinvesting ETF	2.03%
RAAY Reckoner Yield Enhanced AAA CLO Annual ETF	1.99%

Correlation

The correlation between RAAR and RAAY is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 11, 2026	0.62

Return for Risk

RAAR vs. RAAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Reckoner Yield Enhanced AAA CLO Reinvesting ETF (RAAR) and Reckoner Yield Enhanced AAA CLO Annual ETF (RAAY). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

RAAR vs. RAAY - Drawdown Comparison

The maximum RAAR drawdown since its inception was -0.65%, roughly equal to the maximum RAAY drawdown of -0.62%. Use the drawdown chart below to compare losses from any high point for RAAR and RAAY.

Drawdown Indicators

	RAAR	RAAY	Difference
Max Drawdown Largest peak-to-trough decline	-0.65%	-0.62%	-0.03%
Current Drawdown Current decline from peak	-0.07%	0.00%	-0.07%
Average Drawdown Average peak-to-trough decline	-0.09%	-0.08%	-0.01%

Volatility

Volatility by Period

	RAAR	RAAY	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.95%	1.37%	+0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.95%	1.37%	+0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.95%	1.37%	+0.58%

RAAR vs. RAAY - Expense Ratio Comparison

RAAR has a 0.40% expense ratio, which is higher than RAAY's 0.35% expense ratio.

Dividends

RAAR vs. RAAY - Dividend Comparison

Neither RAAR nor RAAY has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both RAAR and RAAY in my portfolio?

RAAR and RAAY have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RAAR or RAAY?

On fees, RAAY is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RAAR or RAAY?

RAAY is cheaper with a 0.35% expense ratio, compared with 0.40% for RAAR.

Which ETF pays a higher dividend yield, RAAR or RAAY?

RAAR and RAAY have nearly identical dividend yields, around 0.00%.

What is the main difference between RAAR and RAAY?

Their fees differ too: 0.40% for RAAR and 0.35% for RAAY.