RAAY vs. RCLR

Last updated Jul 10, 2026

RAAY (Reckoner Yield Enhanced AAA CLO Annual ETF) and RCLR (Reckoner BBB-B CLO Reinvesting ETF) are both Actively Managed funds from Reckoner. Both are actively managed. At a 0.31 correlation, their price movements are largely independent. RAAY charges 0.35%/yr vs 0.60%/yr for RCLR.

Performance

RAAY vs. RCLR - Performance Comparison

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

Returns By Period

RAAY

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

RCLR

• 1D: -0.06%
• 1M: 0.30%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RAAY vs. RCLR - Yearly Performance Comparison

	2026 (YTD)
RAAY Reckoner Yield Enhanced AAA CLO Annual ETF	1.99%
RCLR Reckoner BBB-B CLO Reinvesting ETF	1.03%

Correlation

The correlation between RAAY and RCLR is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 11, 2026	0.31

Return for Risk

RAAY vs. RCLR - Risk-Adjusted Trends Comparison

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

RAAY vs. RCLR - Drawdown Comparison

The maximum RAAY drawdown since its inception was -0.62%, smaller than the maximum RCLR drawdown of -3.77%. Use the drawdown chart below to compare losses from any high point for RAAY and RCLR.

Drawdown Indicators

	RAAY	RCLR	Difference
Max Drawdown Largest peak-to-trough decline	-0.62%	-3.77%	+3.15%
Current Drawdown Current decline from peak	0.00%	-0.06%	+0.06%
Average Drawdown Average peak-to-trough decline	-0.08%	-0.82%	+0.74%

Volatility

Volatility by Period

	RAAY	RCLR	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.37%	3.89%	-2.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.37%	3.89%	-2.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.37%	3.89%	-2.52%

RAAY vs. RCLR - Expense Ratio Comparison

RAAY has a 0.35% expense ratio, which is lower than RCLR's 0.60% expense ratio.

Dividends

RAAY vs. RCLR - Dividend Comparison

Neither RAAY nor RCLR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both RAAY and RCLR in my portfolio?

RAAY and RCLR have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RAAY or RCLR?

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, RAAY or RCLR?

RAAY is cheaper with a 0.35% expense ratio, compared with 0.60% for RCLR.

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

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

What is the main difference between RAAY and RCLR?

Their fees differ too: 0.35% for RAAY and 0.60% for RCLR.