RCLO vs. TOT

Last updated Jul 30, 2026

RCLO (Reckoner BBB-B CLO ETF) and TOT (LionShares U.S. Equity Total Return ETF) are both Actively Managed funds. Both are actively managed. Their -0.10 correlation means they have often moved in opposite directions in the past. RCLO charges 0.50%/yr vs 0.07%/yr for TOT.

Performance

RCLO vs. TOT - Performance Comparison

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

Returns By Period

RCLO

• 1D: 0.08%
• 1M: 0.35%
• 6M: 1.75%
• YTD: 2.56%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

TOT

• 1D: -1.55%
• 1M: -1.80%
• 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)
RCLO Reckoner BBB-B CLO ETF	$21.96K	$31.03K	$123.31K
TOT LionShares U.S. Equity Total Return ETF	$11.96K	$10.63K	$29.27K

RCLO vs. TOT - Yearly Performance Comparison

	2026 (YTD)
RCLO Reckoner BBB-B CLO ETF	0.86%
TOT LionShares U.S. Equity Total Return ETF	-2.08%

Correlation

The correlation between RCLO and TOT is -0.10, 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 May 26, 2026	-0.10

Return for Risk

RCLO vs. TOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Reckoner BBB-B CLO ETF (RCLO) and LionShares U.S. Equity Total Return ETF (TOT). 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. TOT - Drawdown Comparison

The maximum RCLO drawdown since its inception was -3.70%, smaller than the maximum TOT drawdown of -4.26%. Use the drawdown chart below to compare losses from any high point for RCLO and TOT.

Drawdown Indicators

	RCLO	TOT	Difference
Max Drawdown Largest peak-to-trough decline	-3.70%	-4.26%	+0.56%
Current Drawdown Current decline from peak	0.00%	-3.52%	+3.52%
Average Drawdown Average peak-to-trough decline	-0.42%	-1.48%	+1.06%

Volatility

Volatility by Period

	RCLO	TOT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.87%	13.32%	-10.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.87%	13.32%	-10.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.87%	13.32%	-10.45%

RCLO vs. TOT - Expense Ratio Comparison

RCLO has a 0.50% expense ratio, which is higher than TOT's 0.07% expense ratio.

Dividends

RCLO vs. TOT - Dividend Comparison

RCLO's dividend yield for the trailing twelve months is around 4.72%, while TOT has not paid dividends to shareholders.

Position	TTM	2025
RCLO Reckoner BBB-B CLO ETF	4.72%	1.32%
TOT LionShares U.S. Equity Total Return ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both RCLO and TOT in my portfolio?

RCLO and TOT have a correlation of -0.10, 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 TOT?

On fees, TOT is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RCLO or TOT?

TOT is cheaper with a 0.07% expense ratio, compared with 0.50% for RCLO.

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

RCLO has the higher dividend yield at 4.72%, compared with 0.00% for TOT.

What is the main difference between RCLO and TOT?

They also come from different issuers: Reckoner and LionShares. Their fees differ too: 0.50% for RCLO and 0.07% for TOT.