RAAY vs. TFFI

Last updated Jul 18, 2026

RAAY (Reckoner Yield Enhanced AAA CLO Annual ETF) and TFFI (Chesapeake Trend-Following Fixed Income ETF) are both Actively Managed funds. Both are actively managed. At a correlation of -0.04, they often move in opposite directions. RAAY charges 0.35%/yr vs 1.01%/yr for TFFI.

Performance

RAAY vs. TFFI - Performance Comparison

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

Returns By Period

RAAY

• 1D: 0.00%
• 1M: 0.40%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TFFI

• 1D: 0.19%
• 1M: 0.87%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RAAY vs. TFFI - Yearly Performance Comparison

	2026 (YTD)
RAAY Reckoner Yield Enhanced AAA CLO Annual ETF	2.00%
TFFI Chesapeake Trend-Following Fixed Income ETF	0.48%

Correlation

The correlation between RAAY and TFFI is -0.04, 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 Feb 24, 2026	-0.04

Return for Risk

RAAY vs. TFFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Reckoner Yield Enhanced AAA CLO Annual ETF (RAAY) and Chesapeake Trend-Following Fixed Income ETF (TFFI). 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. TFFI - Drawdown Comparison

The maximum RAAY drawdown since its inception was -0.62%, smaller than the maximum TFFI drawdown of -4.23%. Use the drawdown chart below to compare losses from any high point for RAAY and TFFI.

Drawdown Indicators

	RAAY	TFFI	Difference
Max Drawdown Largest peak-to-trough decline	-0.62%	-4.23%	+3.61%
Current Drawdown Current decline from peak	-0.01%	-1.64%	+1.63%
Average Drawdown Average peak-to-trough decline	-0.08%	-1.66%	+1.58%

Volatility

Volatility by Period

	RAAY	TFFI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.33%	7.89%	-6.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.33%	7.89%	-6.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.33%	7.89%	-6.56%

RAAY vs. TFFI - Expense Ratio Comparison

RAAY has a 0.35% expense ratio, which is lower than TFFI's 1.01% expense ratio.

Dividends

RAAY vs. TFFI - Dividend Comparison

Neither RAAY nor TFFI has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both RAAY and TFFI in my portfolio?

RAAY and TFFI have a correlation of -0.04, 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 TFFI?

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 TFFI?

RAAY is cheaper with a 0.35% expense ratio, compared with 1.01% for TFFI.

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

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

What is the main difference between RAAY and TFFI?

They also come from different issuers: Reckoner and Chesapeake. Their fees differ too: 0.35% for RAAY and 1.01% for TFFI.