TEMR vs. RAAY

Last updated Jul 10, 2026

TEMR (T. Rowe Price Emerging Markets Equity Research ETF) and RAAY (Reckoner Yield Enhanced AAA CLO Annual ETF) are both Actively Managed funds. Both are actively managed. At a 0.18 correlation, their price movements are largely independent. TEMR charges 0.40%/yr vs 0.35%/yr for RAAY.

Performance

TEMR vs. RAAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Emerging Markets Equity Research ETF (TEMR) and Reckoner Yield Enhanced AAA CLO Annual ETF (RAAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TEMR

• 1D: 0.85%
• 1M: 1.80%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

RAAY

• 1D: 0.00%
• 1M: 0.49%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TEMR vs. RAAY - Yearly Performance Comparison

	2026 (YTD)
TEMR T. Rowe Price Emerging Markets Equity Research ETF	15.02%
RAAY Reckoner Yield Enhanced AAA CLO Annual ETF	2.22%

Correlation

The correlation between TEMR and RAAY is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 12, 2026	0.18

Return for Risk

TEMR vs. RAAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Emerging Markets Equity Research ETF (TEMR) and Reckoner Yield Enhanced AAA CLO Annual ETF (RAAY). 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

TEMR vs. RAAY - Drawdown Comparison

The maximum TEMR drawdown since its inception was -8.74%, which is greater than RAAY's maximum drawdown of -0.62%. Use the drawdown chart below to compare losses from any high point for TEMR and RAAY.

Drawdown Indicators

	TEMR	RAAY	Difference
Max Drawdown Largest peak-to-trough decline	-8.74%	-0.62%	-8.12%
Current Drawdown Current decline from peak	-6.13%	0.00%	-6.13%
Average Drawdown Average peak-to-trough decline	-2.61%	-0.08%	-2.53%

Volatility

Volatility by Period

	TEMR	RAAY	Difference
Volatility (1Y) Calculated over the trailing 1-year period	33.63%	1.37%	+32.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.63%	1.37%	+32.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.63%	1.37%	+32.26%

TEMR vs. RAAY - Expense Ratio Comparison

TEMR has a 0.40% expense ratio, which is higher than RAAY's 0.35% expense ratio.

Dividends

TEMR vs. RAAY - Dividend Comparison

Neither TEMR nor RAAY has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both TEMR and RAAY in my portfolio?

TEMR and RAAY have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TEMR or RAAY?

On fees, RAAY is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TEMR or RAAY?

RAAY is cheaper with a 0.35% expense ratio, compared with 0.40% for TEMR.

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

TEMR and RAAY have nearly identical dividend yields, around 0.00%.

What is the main difference between TEMR and RAAY?

They also come from different issuers: T. Rowe Price and Reckoner. Their fees differ too: 0.40% for TEMR and 0.35% for RAAY.