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RCLR

GradeFNew York Stock Exchange Arca

Reckoner BBB-B CLO Reinvesting ETF

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

$51.79+0.00 (+0.00%)

As of Sep 23, 2026, 2:06 PM EDT

History starts Feb 11, 2026.History starts Feb 11, 2026.
Intraday session: up, 5 prints from 51.79 to 51.79. Range 51.78 to 51.85. Use the arrow keys to read each point.$51.78$51.80$51.82$51.8410 AM12 PM2 PM4 PM
Expense ratio
0.60%
Fund size
$16M
1Y return
—
Yield · Last 12 months
—
Volume · 30D
0M sh
NAV per share
$51.79
52W range
low $48.14high $51.79

The ETF.net RCLR Grade

F

13/ 100

Rank 33 of 34 in Collateralized Loan Obligations (CLO)⁠

Confidence Medium

Six-pillar profile for RCLR. Scores out of 100: Cost 8, Risk 18, Mission not scored, Tradability 12, Holdings 21, Durability 30. Strongest: Durability (30). Weakest: Cost (8). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 13 of 100 sits in the F 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.
    FScore 8
    Category rank32/34 · bottom quartile

  • 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.
    FScore 18
    Category rank29/33 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 12
    Category rank32/34 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    FScore 21
    Category rank32/34 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 30
    Category rank29/34 · bottom quartile

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

Our read on RCLR

ETF.net Research

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

  1. 01Rare 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.
  2. 02One ticket into mid-tier CLO debt: it invests through the Reckoner BBB-B CLO ETF (RCLO) instead of leaving you to source individual tranches.
  3. 03Ordinary 1940 Act fund wrapper, the same regulated structure behind mainstream ETFs, so there is no partnership paperwork attached.
  4. 04Fixed income exposure without a payout drip to redeploy, since the design retains income rather than pushing it out each month.

Worth knowing

  1. 01Costs 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%.
  2. 02Arrived 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.
  3. 03Not 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

As of Sep 20, 2026, 9:29 AM
Asset class
Bonds
Holdings
—
Top-10 weight
100%
Largest holding
RCLY99.2%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001RCLYReckoner BBB-B CLO Annual ETF99.24%148,800$15M1
002—U.S. Bank Money Market Deposit Account 06/01/20310.76%117,524$118K100

Showing 1–2 of 2 holdings

RCLR Performance

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

RCLR$10,237
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. RCLR $10,237. 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 RCLR. Periods over one year show the average yearly return.
PeriodRCLR
Year to dateFund launched this year—
1 month+0.5%
3 months+2.4%
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 RCLR
YearReturn barRCLR
2026 YTD+3.3%

Since listing, Feb 11, 2026

RCLR in the news

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

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 Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Feb 2026. No distributions yet.

RCLR 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.
0.09
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.

RCLR Cost

Expense ratio0.60%
  • The middle half of Collateralized Loan Obligations (CLO) funds
  • Median 0.29%

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

RCLR costs $60.00 a year on $10,000. The median Collateralized Loan Obligations (CLO) fund costs $29.00.