TIIV vs. RAAY

Last updated Jul 30, 2026

TIIV (AAM Todd International Intrinsic Value ETF) and RAAY (Reckoner Yield Enhanced AAA CLO Annual ETF) are both Actively Managed funds. Both are actively managed. Their 0.01 correlation means their historical movements had little consistent relationship. TIIV charges 0.54%/yr vs 0.35%/yr for RAAY.

Performance

TIIV vs. RAAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM Todd International Intrinsic Value ETF (TIIV) and Reckoner Yield Enhanced AAA CLO Annual ETF (RAAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TIIV

• 1D: -0.44%
• 1M: 2.59%
• 6M: 5.27%
• YTD: 11.86%
• 1Y: 25.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.71%

RAAY

• 1D: 0.03%
• 1M: 0.36%
• 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
TIIV AAM Todd International Intrinsic Value ETF	$18.60K	$14.86K	$76.21K

TIIV vs. RAAY - Yearly Performance Comparison

	2026 (YTD)
TIIV AAM Todd International Intrinsic Value ETF	1.33%
RAAY Reckoner Yield Enhanced AAA CLO Annual ETF	2.24%

Correlation

The correlation between TIIV and RAAY is 0.01, 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 Feb 11, 2026	0.01

Return for Risk

TIIV vs. RAAY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TIIV

TIIV Risk / Return Rank: 79
TIIV Sharpe Ratio Rank: 80
TIIV Sortino Ratio Rank: 82
TIIV Omega Ratio Rank: 80
TIIV Calmar Ratio Rank: 77
TIIV Martin Ratio Rank: 76

RAAY

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TIIV vs. RAAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM Todd International Intrinsic Value ETF (TIIV) 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.

	TIIV	RAAY	Difference
Sharpe ratio: Return per unit of total volatility	1.76	—	—
Sortino ratio: Return per unit of downside risk	2.58	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.61	—	—
Martin ratio: Return relative to average drawdown	9.09	—	—

Drawdowns

TIIV vs. RAAY - Drawdown Comparison

The maximum TIIV drawdown since its inception was -9.68%, which is greater than RAAY's maximum drawdown of -0.62%. Use the drawdown chart below to compare losses from any high point for TIIV and RAAY.

Drawdown Indicators

	TIIV	RAAY	Difference
Max Drawdown Largest peak-to-trough decline	-9.68%	-0.62%	-9.06%
Max Drawdown (1Y) Largest decline over 1 year	-9.68%	—	—
Current Drawdown Current decline from peak	-0.86%	0.00%	-0.86%
Average Drawdown Average peak-to-trough decline	-1.79%	-0.07%	-1.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	—	—

Volatility

Volatility by Period

	TIIV	RAAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.16%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.85%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.32%	1.29%	+13.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.38%	1.29%	+13.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.38%	1.29%	+13.09%

TIIV vs. RAAY - Expense Ratio Comparison

TIIV has a 0.54% expense ratio, which is higher than RAAY's 0.35% expense ratio.

Dividends

TIIV vs. RAAY - Dividend Comparison

TIIV's dividend yield for the trailing twelve months is around 3.18%, while RAAY has not paid dividends to shareholders.

Position	TTM	2025
RAAY Reckoner Yield Enhanced AAA CLO Annual ETF	0.00%	0.00%
TIIV AAM Todd International Intrinsic Value ETF	3.18%	2.33%

Frequently Asked Questions

Can I hold both TIIV and RAAY in my portfolio?

TIIV and RAAY have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TIIV 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, TIIV or RAAY?

RAAY is cheaper with a 0.35% expense ratio, compared with 0.54% for TIIV.

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

TIIV has the higher dividend yield at 3.18%, compared with 0.00% for RAAY.

What is the main difference between TIIV and RAAY?

They also come from different issuers: AAM and Reckoner. Their fees differ too: 0.54% for TIIV and 0.35% for RAAY.