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RAAR

GradeDNew York Stock Exchange Arca

Reckoner Yield Enhanced AAA CLO Reinvesting ETF

Specialty Bonds · Reckoner · Inception 2026-02-11 · SEC filings

$51.57−0.03 (−0.05%)

As of Sep 23, 2026, 2:36 PM EDT

History starts Feb 12, 2026.History starts Feb 12, 2026.
Intraday session: down, 4 prints from 51.60 to 51.57. Range 51.55 to 51.60. Use the arrow keys to read each point.$51.56$51.58$51.6010 AM12 PM2 PM4 PM
Expense ratio
0.40%
Fund size
$13M
1Y return
—
Yield · Last 12 months
—
Volume · 30D
0M sh
NAV per share
$51.53
52W range
low $49.74high $53.44

The ETF.net RAAR Grade

D

31/ 100

Rank 30 of 34 in Collateralized Loan Obligations (CLO)⁠

Confidence Medium

Six-pillar profile for RAAR. Scores out of 100: Cost 35, Risk 49, Mission not scored, Tradability 15, Holdings 22, Durability 27. Strongest: Risk (49). Weakest: Tradability (15). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 31 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 35
    Category rank23/34 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 49
    Category rank19/33 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 15
    Category rank30/34 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    FScore 22
    Category rank31/34 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 27
    Category rank31/34 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on RAAR

ETF.net Research

DMost AAA CLO ETFs exist to spray income at you every month. RAAR is the odd one out: an actively managed AAA CLO fund that aims to distribute just once a year, letting interest stack up inside the wrapper instead.

Stated mandate

The Fund is an actively-managed ETF that seeks total return by investing in AAA-rated debt tranches of collateralized loan obligations (CLOs), while aiming to limit dividend or income distributions to once per year.

Why people hold it

  1. 01The rare accumulator. It aims to limit distributions to once a year, so CLO interest builds inside the fund instead of landing in your account twelve times a year.
  2. 02Exactly what the name says: AAA-rated CLO debt tranches, the senior slice of the loan securitization stack, picked by an active manager rather than tracked off an index.
  3. 03Built around the same AAA CLO strategy as its sibling RAAA, with the payout switch turned from routine income to an annual event.

Worth knowing

  1. 01It charges 0.40% a year. The typical AAA CLO ETF sits near 0.25%, and the category's largest names (JAAA, CLOA, PAAA) run about 0.20%.
  2. 02Launched in late 2024 and still a small, thinly traded fund, so bid-ask spreads can run wider than the category's heavyweights. Limit orders matter here.
  3. 03The once-a-year cadence is a stated aim, not a promise, and by design there is no monthly cash landing in your account from this fund.

RAAR Holdings

As of Sep 20, 2026, 9:29 AM
Asset class
Bonds
Holdings
—
Top-10 weight
100%
Largest holding
RAAY99.1%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001RAAYReckoner Yield Enhanced AAA CLO Annual ETF99.10%123,800$13M1
002—U.S. Bank Money Market Deposit Account 06/01/20310.90%115,491$115K100

Showing 1–2 of 2 holdings

RAAR Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

RAAR$10,165
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. RAAR $10,165. SPY $10,415. Use the arrow keys to read each point.$9,741$10,122$10,502Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for RAAR. Periods over one year show the average yearly return.
PeriodRAAR
Year to dateFund launched this year—
1 month+0.8%
3 months+1.6%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for RAAR
YearReturn barRAAR
2026 YTD+3.1%

History from Feb 12, 2026

RAAR in the news

ETF.net Research hasn’t filed on RAAR yet — coverage lands here as it’s written.

RAAR Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Feb 2026. No distributions yet.

RAAR Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Feb 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Feb 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Feb 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.06
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

RAAR Cost

Expense ratio0.40%
  • The middle half of Collateralized Loan Obligations (CLO) funds
  • Median 0.29%

22 of the 34 Collateralized Loan Obligations (CLO) funds charge less.

RAAR costs $40.00 a year on $10,000. The median Collateralized Loan Obligations (CLO) fund costs $29.00.