RAAY vs. YCLO

Last updated Jul 30, 2026

RAAY (Reckoner Yield Enhanced AAA CLO Annual ETF) and YCLO (Franklin BSP CLO ETF) are both exchange-traded funds - RAAY is a Actively Managed fund actively managed by Reckoner, while YCLO is a CLO fund actively managed by Franklin Templeton. Both are actively managed. Their 0.27 correlation means their historical movements had little consistent relationship. Both charge a 0.35% expense ratio.

Performance

RAAY vs. YCLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Reckoner Yield Enhanced AAA CLO Annual ETF (RAAY) and Franklin BSP CLO ETF (YCLO). 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*: —

YCLO

• 1D: 0.00%
• 1M: 0.59%
• 6M: —
• YTD: —
• 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
YCLO Franklin BSP CLO ETF	$9.14K	$4.49K	$2.97K

RAAY vs. YCLO - Yearly Performance Comparison

	2026 (YTD)
RAAY Reckoner Yield Enhanced AAA CLO Annual ETF	0.86%
YCLO Franklin BSP CLO ETF	1.04%

Correlation

The correlation between RAAY and YCLO is 0.27, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 4, 2026	0.27

Return for Risk

RAAY vs. YCLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Reckoner Yield Enhanced AAA CLO Annual ETF (RAAY) and Franklin BSP CLO ETF (YCLO). 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. YCLO - Drawdown Comparison

The maximum RAAY drawdown since its inception was -0.62%, which is greater than YCLO's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for RAAY and YCLO.

Drawdown Indicators

	RAAY	YCLO	Difference
Max Drawdown Largest peak-to-trough decline	-0.62%	-0.04%	-0.58%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.07%	0.00%	-0.07%

Volatility

Volatility by Period

	RAAY	YCLO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.29%	0.43%	+0.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.29%	0.43%	+0.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.29%	0.43%	+0.86%

RAAY vs. YCLO - Expense Ratio Comparison

Both RAAY and YCLO have an expense ratio of 0.35%.

Dividends

RAAY vs. YCLO - Dividend Comparison

RAAY has not paid dividends to shareholders, while YCLO's dividend yield for the trailing twelve months is around 0.31%.

Position	TTM
RAAY Reckoner Yield Enhanced AAA CLO Annual ETF	0.00%
YCLO Franklin BSP CLO ETF	0.31%

Frequently Asked Questions

Can I hold both RAAY and YCLO in my portfolio?

RAAY and YCLO have a correlation of 0.27, 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 YCLO?

Both ETFs have the same 0.35% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RAAY or YCLO?

RAAY and YCLO have the same expense ratio: 0.35% per year.

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

YCLO has the higher dividend yield at 0.31%, compared with 0.00% for RAAY.

What is the main difference between RAAY and YCLO?

RAAY is categorized as Actively Managed, while YCLO is CLO. They also come from different issuers: Reckoner and Franklin Templeton.