RAAR vs. TMED

Last updated Jul 30, 2026

RAAR (Reckoner Yield Enhanced AAA CLO Reinvesting ETF) and TMED (T. Rowe Price Health Care ETF) are both exchange-traded funds - RAAR is a Actively Managed fund actively managed by Reckoner, while TMED is a Health & Biotech Equities fund actively managed by T. Rowe Price. Both are actively managed. Their -0.02 correlation means they have often moved in opposite directions in the past. RAAR charges 0.40%/yr vs 0.44%/yr for TMED.

Performance

RAAR vs. TMED - Performance Comparison

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

Returns By Period

RAAR

• 1D: 0.06%
• 1M: 0.76%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

TMED

• 1D: -0.74%
• 1M: 1.35%
• 6M: 16.95%
• YTD: 16.91%
• 1Y: 42.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 34.49%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RAAR Reckoner Yield Enhanced AAA CLO Reinvesting ETF	$43.73K	$139.03K	$102.06K
TMED T. Rowe Price Health Care ETF	$576.43K	$346.09K	$158.73K

RAAR vs. TMED - Yearly Performance Comparison

	2026 (YTD)
RAAR Reckoner Yield Enhanced AAA CLO Reinvesting ETF	2.32%
TMED T. Rowe Price Health Care ETF	18.27%

Correlation

The correlation between RAAR and TMED is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 11, 2026	-0.02

Return for Risk

RAAR vs. TMED — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RAAR

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

TMED

TMED Risk / Return Rank: 91
TMED Sharpe Ratio Rank: 92
TMED Sortino Ratio Rank: 92
TMED Omega Ratio Rank: 90
TMED Calmar Ratio Rank: 90
TMED Martin Ratio Rank: 89

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RAAR vs. TMED - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Reckoner Yield Enhanced AAA CLO Reinvesting ETF (RAAR) and T. Rowe Price Health Care ETF (TMED). 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.

	RAAR	TMED	Difference
Sharpe ratio: Return per unit of total volatility	—	2.32	—
Sortino ratio: Return per unit of downside risk	—	3.34	—
Omega ratio: Gain probability vs. loss probability	—	1.40	—
Calmar ratio: Return relative to maximum drawdown	—	3.83	—
Martin ratio: Return relative to average drawdown	—	13.07	—

Drawdowns

RAAR vs. TMED - Drawdown Comparison

The maximum RAAR drawdown since its inception was -0.65%, smaller than the maximum TMED drawdown of -11.11%. Use the drawdown chart below to compare losses from any high point for RAAR and TMED.

Drawdown Indicators

	RAAR	TMED	Difference
Max Drawdown Largest peak-to-trough decline	-0.65%	-11.11%	+10.46%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.11%	—
Current Drawdown Current decline from peak	0.00%	-1.80%	+1.80%
Average Drawdown Average peak-to-trough decline	-0.08%	-2.41%	+2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.25%	—

Volatility

Volatility by Period

	RAAR	TMED	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.97%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.01%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.84%	18.35%	-16.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.84%	18.11%	-16.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.84%	18.11%	-16.27%

RAAR vs. TMED - Expense Ratio Comparison

RAAR has a 0.40% expense ratio, which is lower than TMED's 0.44% expense ratio.

Dividends

RAAR vs. TMED - Dividend Comparison

RAAR has not paid dividends to shareholders, while TMED's dividend yield for the trailing twelve months is around 0.47%.

Position	TTM	2025
RAAR Reckoner Yield Enhanced AAA CLO Reinvesting ETF	0.00%	0.00%
TMED T. Rowe Price Health Care ETF	0.47%	0.54%

Frequently Asked Questions

Can I hold both RAAR and TMED in my portfolio?

RAAR and TMED have a correlation of -0.02, 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 TMED?

On fees, RAAR is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RAAR or TMED?

RAAR is cheaper with a 0.40% expense ratio, compared with 0.44% for TMED.

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

TMED has the higher dividend yield at 0.47%, compared with 0.00% for RAAR.

What is the main difference between RAAR and TMED?

RAAR is categorized as Actively Managed, while TMED is Health & Biotech Equities. They also come from different issuers: Reckoner and T. Rowe Price. Their fees differ too: 0.40% for RAAR and 0.44% for TMED.