RCLO vs SPY
Reckoner BBB-B CLO ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | RCLO | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.09% | |
| AUM | $30M | $821.1B | |
| Dividend Yield | 4.70% | 1.01% | |
| Holdings | 28 | 505 | |
| YTD Return | +4.17% | +12.68% | |
| 1Y Return | - | +21.82% | |
| 3Y Return (annualized) | - | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | - | 15.3% | |
| Max Drawdown | -3.7% | -56.5% | |
| Fund Family | Reckoner Capital Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 22, 2025 | Jan 22, 1993 |
RCLO vs SPY Performance
Reckoner BBB-B CLO ETF (RCLO) is a ETF from Reckoner Capital Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Year to date, RCLO is up 4.17% versus a gain of 12.68% for SPY.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -3.7% for RCLO and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
RCLO charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, RCLO currently yields 4.70% against 1.01% for SPY.
Holdings Overlap
RCLO and SPY share 0 holdings out of 505 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, RCLO or SPY?
RCLO has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
What is the holdings overlap between RCLO and SPY?
RCLO and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, RCLO or SPY?
RCLO yields 4.70% while SPY yields 1.01%, so RCLO currently pays the higher dividend yield.
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