Reckoner Yield Enhanced AAA CLO ETF
RAAA
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- Reckoner Leveraged AAA CLO ETF (RAAA) is an exchange-traded fund that provides leveraged exposure to a portfolio of AAA-rated collateralized loan obligations (CLOs), focusing on high-quality, investment-grade tranches within the structured credit market. The fund employs financial derivatives, including swaps and futures, to achieve 1.5x to 2x daily leveraged returns on the performance of its underlying AAA CLO index, while maintaining strict risk controls through active portfolio management and liquidity provisions; it offers shares to retail and institutional investors seeking enhanced yield in fixed-income alternatives with lower volatility compared to high-yield bonds. RAAA operates primarily in the U.S. financial markets, targeting sophisticated investors such as hedge funds, pension plans, and high-net-worth individuals interested in structured products. Launched in early 2024 by Reckoner Asset Management LLC, headquartered in New York, New York, the ETF quickly expanded its assets under management through a strategic seed investment from a major institutional partner in Q3 2024, reaching over $500 million by mid-2025. In late 2025, Reckoner announced a key partnership with a leading CLO issuer to enhance collateral quality and liquidity, alongside the introduction of an enhanced share class offering tax-advantaged distributions for qualified investors. The fund continues to prioritize AAA-rated CLO equity and mezzanine tranches from diverse sectors including leveraged loans to middle-market companies, with no significant subsidiaries or parent affiliations beyond Reckoner Asset Management's oversight.