RAAY vs. SEIX

Last updated Jul 30, 2026

RAAY (Reckoner Yield Enhanced AAA CLO Annual ETF) and SEIX (Virtus Seix Senior Loan ETF) are both exchange-traded funds - RAAY is a Actively Managed fund actively managed by Reckoner, while SEIX is a Bank Loan fund actively managed by Virtus. Both are actively managed. Their 0.12 correlation means their historical movements had little consistent relationship. RAAY charges 0.35%/yr vs 0.57%/yr for SEIX.

Performance

RAAY vs. SEIX - Performance Comparison

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

Returns By Period

RAAY

• 1D: 0.03%
• 1M: 0.36%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

SEIX

• 1D: -0.11%
• 1M: 0.73%
• 6M: 2.64%
• YTD: 2.87%
• 1Y: 5.18%
• 3Y*: 7.24%
• 5Y*: 5.77%
• 10Y*: —
• ALL TIME*: 5.34%

*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)
RAAY Reckoner Yield Enhanced AAA CLO Annual ETF	$613.07	$641.73	$255.86
SEIX Virtus Seix Senior Loan ETF	$1.93M	$1.60M	$1.87M

RAAY vs. SEIX - Yearly Performance Comparison

	2026 (YTD)
RAAY Reckoner Yield Enhanced AAA CLO Annual ETF	2.24%
SEIX Virtus Seix Senior Loan ETF	3.19%

Correlation

The correlation between RAAY and SEIX is 0.12, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 11, 2026	0.12

Return for Risk

RAAY vs. SEIX — Risk / Return Rank

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

RAAY

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

SEIX

SEIX Risk / Return Rank: 96
SEIX Sharpe Ratio Rank: 97
SEIX Sortino Ratio Rank: 97
SEIX Omega Ratio Rank: 97
SEIX Calmar Ratio Rank: 94
SEIX Martin Ratio Rank: 94

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.

RAAY vs. SEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Reckoner Yield Enhanced AAA CLO Annual ETF (RAAY) and Virtus Seix Senior Loan ETF (SEIX). 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.

	RAAY	SEIX	Difference
Sharpe ratio: Return per unit of total volatility	—	3.20	—
Sortino ratio: Return per unit of downside risk	—	5.08	—
Omega ratio: Gain probability vs. loss probability	—	1.69	—
Calmar ratio: Return relative to maximum drawdown	—	4.61	—
Martin ratio: Return relative to average drawdown	—	18.32	—

Drawdowns

RAAY vs. SEIX - Drawdown Comparison

The maximum RAAY drawdown since its inception was -0.62%, smaller than the maximum SEIX drawdown of -17.51%. Use the drawdown chart below to compare losses from any high point for RAAY and SEIX.

Drawdown Indicators

	RAAY	SEIX	Difference
Max Drawdown Largest peak-to-trough decline	-0.62%	-17.51%	+16.89%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.13%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-3.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-6.69%	—
Current Drawdown Current decline from peak	0.00%	-0.26%	+0.26%
Average Drawdown Average peak-to-trough decline	-0.07%	-0.86%	+0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.28%	—

Volatility

Volatility by Period

	RAAY	SEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.35%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.29%	1.63%	-0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.29%	2.92%	-1.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.29%	4.30%	-3.01%

RAAY vs. SEIX - Expense Ratio Comparison

RAAY has a 0.35% expense ratio, which is lower than SEIX's 0.57% expense ratio.

Dividends

RAAY vs. SEIX - Dividend Comparison

RAAY has not paid dividends to shareholders, while SEIX's dividend yield for the trailing twelve months is around 7.17%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
RAAY Reckoner Yield Enhanced AAA CLO Annual ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SEIX Virtus Seix Senior Loan ETF	7.17%	7.52%	8.09%	8.74%	5.76%	4.16%	3.75%	3.82%

Frequently Asked Questions

Can I hold both RAAY and SEIX in my portfolio?

RAAY and SEIX have a correlation of 0.12, 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 SEIX?

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 SEIX?

RAAY is cheaper with a 0.35% expense ratio, compared with 0.57% for SEIX.

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

SEIX has the higher dividend yield at 7.17%, compared with 0.00% for RAAY.

What is the main difference between RAAY and SEIX?

RAAY is categorized as Actively Managed, while SEIX is Bank Loan. They also come from different issuers: Reckoner and Virtus. Their fees differ too: 0.35% for RAAY and 0.57% for SEIX.