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Launched · SEC filings

Reckoner BBB-B CLO Reinvesting ETF

RCLRNYSE ArcaReckonerF

$51.38+0.01 (+0.01%)

As of Nov 2, 2026, 12:18 PM ET

F20/ 100

Rank 32 of 34 in Collateralized Loan Obligations (CLO)

F20/100Rank 32 of 34inCollateralized Loan Obligations (CLO)
Intraday session: up, 29 prints from 51.38 to 51.38. Range 51.38 to 51.39. Use the arrow keys to read each point.51.3851.3851.3951.3910 AM12 PM2 PM4 PM
Expense ratio
0.60%
Fund size
$15M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
2
Avg volume · 30D
772 sh
52W range
low $48.14high $51.85
Launched
Filings
SEC EDGAR

The ETF.net RCLR Grade

Based on 5 of 6 pillars

F

Score 20 out of 100

Category
Collateralized Loan Obligations (CLO)⁠
Rank
32 of 34
Six-pillar profile for RCLR. Scores out of 100: Cost 8, Risk 19, Mission not scored, Tradability 43, Holdings 21, Durability 28. Strongest: Tradability (43). Weakest: Cost (8). Based on 5 of 6 pillars.

Score 20 of 100 falls in the F band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F8 out of 100
    Rank 31 of 34

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F19 out of 100
    Rank 31 of 33

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C43 out of 100
    Rank 18 of 34

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    F21 out of 100
    Rank 32 of 34

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D28 out of 100
    Rank 30 of 34

Our read on RCLR

ETF.net Research

In short

FMost bond funds pipe cash out on a schedule. RCLR runs the other way: it holds Reckoner's BBB-B CLO strategy and aims to minimize payouts to at most one a year, keeping income inside the fund rather than in your account.

Stated mandate

The Fund seeks total return while minimizing dividend or distribution payments.

Why people hold it

  • Rare shape for a US bond fund: the stated goal is total return while minimizing dividend and distribution payments, with payouts limited to one a year.
  • One ticket into mid-tier CLO debt: it invests through the Reckoner BBB-B CLO ETF (RCLO) instead of leaving you to source individual tranches.
  • Ordinary 1940 Act fund wrapper, the same regulated structure behind mainstream ETFs, so there is no partnership paperwork attached.
  • Fixed income exposure without a payout drip to redeploy, since the design retains income rather than pushing it out each month.

Worth knowing

  • Costs 0.60% a year against a 0.40% median for high-yield bond ETFs, and well above index staples like SCYB at 0.03% and SPHY at 0.05%.
  • Arrived in February 2026 as a small fund, so the record is short and trading has been light. Spreads can run wider than in the category's giants.
  • Not the shape for spending money: distributions are deliberately minimized to at most one payment a year, so regular cash flow is not part of the design.

RCLR Holdings

Holdings pillarF21 out of 100Rank 32 of 34 in Collateralized Loan Obligations (CLO)
Asset class
Bonds
Holdings
2
Top-10 weight
100%
Largest holding
RCLY99.2%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1RCLYReckoner BBB-B CLO Annual ETF99.24%148,800$15.3M1
2No dataU.S. Bank Money Market Deposit Account 06/01/20310.76%117,141$117K106

Showing 1–2 of 2 holdings

RCLR Performance

Launched Feb 11, 2026

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

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
RCLR$10,116
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,141
Jul 31, 2026 to Oct 30, 2026. RCLR $10,116. SPY $10,141. Use the arrow keys to read each point.$10,000$10,200$10,400Jul 2026Sep 2026Oct 2026

Jul 31, 2026 – Oct 30, 2026

Returns run to the Oct 30, 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 RCLR. Periods over one year show the average yearly return.
PeriodRCLR
Year to dateFund launched this yearNo data
1 month−0.8%
3 months+1.2%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 RCLR
YearReturn barRCLR
2026 YTD+2.6%

Since listing, Feb 11, 2026

RCLR in the news

RCLR 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 Oct 30, 2026.
No dataLast 12 months
Payout per share
No dataLast 12 months

Listed Feb 2026. No distributions yet.

RCLR Risk

Risk pillarF19 out of 100Rank 31 of 33 in Collateralized Loan Obligations (CLO)
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.
0.09
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.

FMP measures it over up to five years of monthly returns.

RCLR Cost

Compare RCLR and CLOC

Overpaying vs CLOC, cheapest in Collateralized Loan Obligations (CLO)

$8,068

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • RCLR 0.60%

    $11,817

  • CLOC 0.18% Cheapest

    $3,749

$10,000
30 years

Cost over time

  • RCLR 0.60%
  • CLOC 0.18%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530RCLR $11,817CLOC $3,749

Year by year

YearRCLRCLOCOverpaying
10$1,076$328$748
20$4,116$1,281$2,835
30$11,817$3,749$8,068

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