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RCLY

GradeFNew York Stock Exchange Arca

Reckoner BBB-B CLO Annual ETF

Specialty Bonds · Reckoner · Inception 2026-02-11

$103.62+0.00 (+0.00%)

As of Sep 22, 2026, 9:46 AM EDT

Market opens at 9:30 AM ET.History starts Feb 11, 2026.History starts Feb 11, 2026.
Intraday session: up, 5 prints from 103.50 to 103.62. Range 103.50 to 103.62. Use the arrow keys to read each point.$103.50$103.55$103.60Sep 16Sep 17Sep 21Sep 22
Expense ratio
0.55%
Fund size
$18M
1Y return
—
Yield · Last 12 months
—
Volume · 30D
0M sh
NAV per share
$103.62
52W range
low $96.37high $103.62

The ETF.net RCLY Grade

F

14/ 100

Rank 32 of 34 in Collateralized Loan Obligations (CLO)⁠

Confidence Medium

Six-pillar profile for RCLY. Scores out of 100: Cost 12, Risk 27, Mission not scored, Tradability 6, Holdings 19, Durability 14. Strongest: Risk (27). Weakest: Tradability (6). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 14 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 12
    Category rank30/34 · 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.
    DScore 27
    Category rank26/33 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 6
    Category rank33/34 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    FScore 19
    Category rank33/34 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    FScore 14
    Category rank33/34 · bottom quartile

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

Our read on RCLY

ETF.net Research

FMost bond ETFs pay you monthly. RCLY is built the other way: exposure to BBB through B rated collateralized loan obligations with a stated mandate to make just one distribution a year.

Stated mandate

The Fund seeks total return while targeting only one dividend or distribution payment each year.

Why people hold it

  1. 01The mandate is unusual and explicit: seek total return while targeting a single dividend or distribution each year, so income lands as one annual event rather than twelve monthly ones.
  2. 02It goes down the CLO stack. The category's largest funds (JAAA, CLOA, PAAA, FAAA) concentrate on AAA tranches; this one targets BBB through B rated slices instead.
  3. 03Structurally simple: it is a wrapper on Reckoner's own BBB-B CLO ETF (RCLO), so one portfolio runs the credit exposure while this fund handles the annual payout schedule.

Worth knowing

  1. 01Costs 0.55% a year, above the CLO ETF norm: the big AAA funds in the category charge about 0.20%, and the cohort median sits near a quarter point.
  2. 02Launched in February 2026, so the track record is short, and it has been a small, lightly traded fund, which can mean wider bid-ask spreads.
  3. 03BBB-B rated tranches sit below the AAA paper most CLO ETFs hold, so moves in credit stress can be larger. And by design, cash arrives once a year, not monthly.

RCLY Holdings

As of Sep 20, 2026, 9:29 AM
Asset class
Stocks
Holdings
—
Top-10 weight
100%
Largest holding
RCLO99.9%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001RCLOReckoner BBB-B CLO ETF99.90%720,142$18M1
002—U.S. Bank Money Market Deposit Account 06/01/20310.10%18,388$18K100

Showing 1–2 of 2 holdings

RCLY Performance

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

RCLY$10,245
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. RCLY $10,245. 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 RCLY. Periods over one year show the average yearly return.
PeriodRCLY
Year to dateFund launched this year—
1 month+0.6%
3 months+2.5%
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 RCLY
YearReturn barRCLY
2026 YTD+3.7%

Since listing, Feb 11, 2026

RCLY in the news

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

RCLY 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.

RCLY 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.

RCLY Cost

Expense ratio0.55%
  • The middle half of Collateralized Loan Obligations (CLO) funds
  • Median 0.29%

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

RCLY costs $55.00 a year on $10,000. The median Collateralized Loan Obligations (CLO) fund costs $29.00.