RAAY vs. TIPB

Last updated Jul 30, 2026

RAAY (Reckoner Yield Enhanced AAA CLO Annual ETF) and TIPB (Northern Trust 2035 Inflation-Linked Distributing Ladder ETF) are both exchange-traded funds - RAAY is a Actively Managed fund actively managed by Reckoner, while TIPB is a Inflation-Protected Bonds fund actively managed by Northern Trust. Both are actively managed. Their 0.05 correlation means their historical movements had little consistent relationship. RAAY charges 0.35%/yr vs 0.10%/yr for TIPB.

Performance

RAAY vs. TIPB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Reckoner Yield Enhanced AAA CLO Annual ETF (RAAY) and Northern Trust 2035 Inflation-Linked Distributing Ladder ETF (TIPB). 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*: —

TIPB

• 1D: 0.20%
• 1M: -0.33%
• 6M: 1.00%
• YTD: 1.43%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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
TIPB Northern Trust 2035 Inflation-Linked Distributing Ladder ETF	$2.11K	$9.44K	$36.67K

RAAY vs. TIPB - Yearly Performance Comparison

	2026 (YTD)
RAAY Reckoner Yield Enhanced AAA CLO Annual ETF	2.24%
TIPB Northern Trust 2035 Inflation-Linked Distributing Ladder ETF	0.57%

Correlation

The correlation between RAAY and TIPB is 0.05, 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	0.05

Return for Risk

RAAY vs. TIPB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Reckoner Yield Enhanced AAA CLO Annual ETF (RAAY) and Northern Trust 2035 Inflation-Linked Distributing Ladder ETF (TIPB). 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. TIPB - Drawdown Comparison

The maximum RAAY drawdown since its inception was -0.62%, smaller than the maximum TIPB drawdown of -1.32%. Use the drawdown chart below to compare losses from any high point for RAAY and TIPB.

Drawdown Indicators

	RAAY	TIPB	Difference
Max Drawdown Largest peak-to-trough decline	-0.62%	-1.32%	+0.70%
Current Drawdown Current decline from peak	0.00%	-0.74%	+0.74%
Average Drawdown Average peak-to-trough decline	-0.07%	-0.42%	+0.35%

Volatility

Volatility by Period

	RAAY	TIPB	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.29%	2.60%	-1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.29%	2.60%	-1.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.29%	2.60%	-1.31%

RAAY vs. TIPB - Expense Ratio Comparison

RAAY has a 0.35% expense ratio, which is higher than TIPB's 0.10% expense ratio.

Dividends

RAAY vs. TIPB - Dividend Comparison

RAAY has not paid dividends to shareholders, while TIPB's dividend yield for the trailing twelve months is around 4.15%.

Position	TTM	2025
RAAY Reckoner Yield Enhanced AAA CLO Annual ETF	0.00%	0.00%
TIPB Northern Trust 2035 Inflation-Linked Distributing Ladder ETF	4.15%	1.09%

Frequently Asked Questions

Can I hold both RAAY and TIPB in my portfolio?

RAAY and TIPB have a correlation of 0.05, 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 TIPB?

On fees, TIPB is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RAAY or TIPB?

TIPB is cheaper with a 0.10% expense ratio, compared with 0.35% for RAAY.

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

TIPB has the higher dividend yield at 4.15%, compared with 0.00% for RAAY.

What is the main difference between RAAY and TIPB?

RAAY is categorized as Actively Managed, while TIPB is Inflation-Protected Bonds. They also come from different issuers: Reckoner and Northern Trust. Their fees differ too: 0.35% for RAAY and 0.10% for TIPB.