# Reckoner Yield Enhanced AAA CLO ETF (RAAA): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/raaa for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Reckoner · Asset class: Fixed Income - Strategy: Thematic · Inception: 2025-07-09 The RAAA fund employs a leverage strategy, utilizing reverse repurchase agreements to achieve up to 50% additional exposure to U.S. dollar-denominated Collateralized Loan Obligations (CLOs). Its primary objectives are generating income and preserving capital, which it pursues by concentrating investments in AAA-rated CLO tranches. These tranches represent the most senior and highest-quality segments within a CLO structure, supported by diverse pools of underlying loans, often including leveraged loans. All eligible CLOs must carry an AAA rating or be determined to be of equivalent credit qu... ## Key Facts | Metric | Value | |---|---| | Price | $25.07 | | Expense Ratio | 0.30% | | Assets Under Management | $45.2M | | NAV | $25.08 | | Holdings Count | 0 | | Distribution Yield (TTM) | 4.99% | | Annual Distribution (TTM) | $1.25 /share | | Distribution Frequency | Monthly | | 52-Week Range | $24.78 – $25.21 | | Beta | 0.06 | ## Latest Distribution - Amount: $0.1020 /share - Ex-date: 2026-10-01 - Pay date: 2026-10-06 ## Frequently Asked Questions ### What does RAAA invest in? The RAAA fund employs a leverage strategy, utilizing reverse repurchase agreements to achieve up to 50% additional exposure to U.S. dollar-denominated Collateralized Loan Obligations (CLOs). Its primary objectives are generating income and preserving capital, which it pursues by concentrating investments in AAA-rated CLO tranches. These tranches represent the most senior and highest-quality segments within a CLO structure, supported by diverse pools of underlying loans, often including leveraged loans. All eligible CLOs must carry an AAA rating or be determined to be of equivalent credit quality by the investment adviser. However, the fund has the flexibility to allocate a maximum of 20% of its assets to CLOs rated AA or A. The investment selection process follows a rigorous bottom-up methodology, assessing factors such as the expertise of the CLO manager, the specifics of the deal structure, the quality of the underlying collateral, projected cash flows, and market trading frequency. A particular emphasis is placed on identifying larger and more liquid transactions. The portfolio may also incorporate Exchange Traded Funds (ETFs) that align with similar investment objectives. The majority of the fund's holdings feature floating interest rates and are acquired from both initial issuance (primary) and existing market (secondary) sources. Allocation adjustments are made dynamically in response to prevailing market trends. Although classified as non-diversified, the fund mitigates concentration risk by capping investments in any individual CLO or CLO manager at 20% of its assets. This approach supports its twin goals of generating income and maintaining high credit quality. ### What is the expense ratio of RAAA? Reckoner Yield Enhanced AAA CLO ETF (RAAA) charges an expense ratio of 0.30%. This is the annual fee deducted from fund assets to cover management and operations. ### What is RAAA's dividend yield? RAAA's trailing-twelve-month yield is 4.99%, calculated from the sum of dividends over the past year divided by the current price. ### What is the duration of RAAA? Effective duration measures RAAA's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. RAAA's current duration is published on the fund's factsheet on the issuer's website. ### What is the credit quality of RAAA? RAAA's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds. ### What is the yield to maturity of RAAA? Yield to maturity (YTM) is the total return you'd earn from RAAA if every bond in the portfolio is held to maturity at the current price. RAAA's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid. ### Does RAAA pay a dividend? Yes, Reckoner Yield Enhanced AAA CLO ETF (RAAA) distributes dividends to shareholders. The trailing-twelve-month yield is 4.99%. Full dividend history is on this page. ### How often does RAAA pay dividends? Reckoner Yield Enhanced AAA CLO ETF pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is RAAA's next ex-dividend date? The most recently announced ex-dividend date for RAAA was 2026-10-01. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will RAAA's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.30% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does RAAA charge its expense ratio? The expense ratio is deducted in tiny daily slices from RAAA's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does RAAA cost more than a fund like VOO? RAAA's strategy (current expense ratio 0.30%) is different from a broad-market index tracker like VOO, so its fee belongs to a different cohort. The Cost Verdict card above shows you where RAAA sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to RAAA? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as RAAA (0.30%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/raaa - Distribution history: https://www.dividenddata.com/funds/raaa/dividend - Holdings & diversification: https://www.dividenddata.com/funds/raaa/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/raaa/expenses - Peer comparison: https://www.dividenddata.com/funds/raaa/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.