RCLO vs. RCLY

Last updated Jul 10, 2026

RCLO (Reckoner BBB-B CLO ETF) and RCLY (Reckoner BBB-B CLO Annual ETF) are both Actively Managed funds from Reckoner. Both are actively managed. Their correlation of 0.90 suggests significant overlap in exposure. RCLO charges 0.50%/yr vs 0.55%/yr for RCLY.

Performance

RCLO vs. RCLY - 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 Annual ETF (RCLY). 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*: —

RCLY

• 1D: -0.07%
• 1M: 0.21%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RCLO vs. RCLY - Yearly Performance Comparison

	2026 (YTD)
RCLO Reckoner BBB-B CLO ETF	1.18%
RCLY Reckoner BBB-B CLO Annual ETF	1.09%

Correlation

The correlation between RCLO and RCLY is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 11, 2026	0.90

Return for Risk

RCLO vs. RCLY - 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 Annual ETF (RCLY). 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. RCLY - Drawdown Comparison

The maximum RCLO drawdown since its inception was -3.70%, roughly equal to the maximum RCLY drawdown of -3.69%. Use the drawdown chart below to compare losses from any high point for RCLO and RCLY.

Drawdown Indicators

	RCLO	RCLY	Difference
Max Drawdown Largest peak-to-trough decline	-3.70%	-3.69%	-0.01%
Current Drawdown Current decline from peak	-0.07%	-0.07%	0.00%
Average Drawdown Average peak-to-trough decline	-0.45%	-0.77%	+0.32%

Volatility

Volatility by Period

	RCLO	RCLY	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.97%	3.69%	-0.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.97%	3.69%	-0.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.97%	3.69%	-0.72%

RCLO vs. RCLY - Expense Ratio Comparison

RCLO has a 0.50% expense ratio, which is lower than RCLY's 0.55% expense ratio.

Dividends

RCLO vs. RCLY - Dividend Comparison

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

Position	TTM	2025
RCLO Reckoner BBB-B CLO ETF	4.74%	1.32%
RCLY Reckoner BBB-B CLO Annual ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both RCLO and RCLY in my portfolio?

With a correlation of 0.90, RCLO and RCLY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, RCLO or RCLY?

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 RCLY?

RCLO is cheaper with a 0.50% expense ratio, compared with 0.55% for RCLY.

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

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

What is the main difference between RCLO and RCLY?

Their fees differ too: 0.50% for RCLO and 0.55% for RCLY.