Reckoner BBB-B CLO ETF (RCLO) is an exchange-traded fund that seeks to provide investors with exposure to a portfolio of collateralized loan obligations rated BBB to B, focusing on income generation through structured credit investments. The fund offers shares traded on major U.S. exchanges under the ticker RCLO; it employs an active management strategy to select and manage CLO tranches from underlying leveraged loans originated by banks and institutional lenders; and it provides monthly distributions primarily from interest income and potential capital gains. Reckoner Advisors LLC, the fund's sponsor and investment manager headquartered in New York City since its inception in 2023, operates primarily in the U.S. fixed income market targeting institutional and high-net-worth investors seeking yield in the broadly syndicated loan sector.
In the past year, RCLO launched its initial public offering in Q3 2025, marking Reckoner's entry into the actively managed CLO ETF space amid rising demand for alternative credit products; formed a strategic distribution partnership with a major brokerage platform to enhance retail investor access; and expanded its portfolio by acquiring senior BBB-rated tranches from recent CLO issuances totaling over $500 million in notional value. The fund benefits from Reckoner's proprietary quantitative models for CLO selection and risk monitoring, with no reported subsidiaries or parent affiliations as of late 2025.