RCLO vs. RCLR

Last updated Jul 10, 2026

RCLO (Reckoner BBB-B CLO ETF) and RCLR (Reckoner BBB-B CLO Reinvesting ETF) are both Actively Managed funds from Reckoner. Both are actively managed. A 0.77 correlation means they provide meaningful diversification when combined. RCLO charges 0.50%/yr vs 0.60%/yr for RCLR.

Performance

RCLO vs. RCLR - Performance Comparison

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

Returns By Period

RCLO

• 1D: -0.07%
• 1M: 0.22%
• 6M: 2.02%
• YTD: 2.22%
• 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)

RCLO vs. RCLR - Yearly Performance Comparison

	2026 (YTD)
RCLO Reckoner BBB-B CLO ETF	1.18%
RCLR Reckoner BBB-B CLO Reinvesting ETF	1.03%

Correlation

The correlation between RCLO and RCLR is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 11, 2026	0.77

Return for Risk

RCLO vs. RCLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Reckoner BBB-B CLO ETF (RCLO) 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

RCLO vs. RCLR - Drawdown Comparison

The maximum RCLO drawdown since its inception was -3.70%, roughly equal to the maximum RCLR drawdown of -3.77%. Use the drawdown chart below to compare losses from any high point for RCLO and RCLR.

Drawdown Indicators

	RCLO	RCLR	Difference
Max Drawdown Largest peak-to-trough decline	-3.70%	-3.77%	+0.07%
Current Drawdown Current decline from peak	-0.07%	-0.06%	-0.01%
Average Drawdown Average peak-to-trough decline	-0.45%	-0.82%	+0.37%

Volatility

Volatility by Period

	RCLO	RCLR	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.97%	3.89%	-0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.97%	3.89%	-0.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.97%	3.89%	-0.92%

RCLO vs. RCLR - Expense Ratio Comparison

RCLO has a 0.50% expense ratio, which is lower than RCLR's 0.60% expense ratio.

Dividends

RCLO vs. RCLR - Dividend Comparison

RCLO's dividend yield for the trailing twelve months is around 4.74%, while RCLR has not paid dividends to shareholders.

Position	TTM	2025
RCLO Reckoner BBB-B CLO ETF	4.74%	1.32%
RCLR Reckoner BBB-B CLO Reinvesting ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both RCLO and RCLR in my portfolio?

RCLO and RCLR have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RCLO or RCLR?

On fees, RCLO is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RCLO or RCLR?

RCLO is cheaper with a 0.50% expense ratio, compared with 0.60% for RCLR.

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

RCLO has the higher dividend yield at 4.74%, compared with 0.00% for RCLR.

What is the main difference between RCLO and RCLR?

Their fees differ too: 0.50% for RCLO and 0.60% for RCLR.