RCLO vs SPY
Reckoner BBB-B CLO ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, RCLO or SPY?
All Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | RCLO | SPY |
|---|---|---|
| Expense Ratio | 0.50% | 0.09%Best |
| AUM | $45M | $823.2B |
| Dividend Yield | 5.76% | 0.99% |
| Holdings | 30 | 1,515 |
| YTD Return | +4.49% | +13.53%Best |
| 1Y Return | +5.95% | +17.47%Best |
| 3Y Return (annualized) | - | +22.36% |
| 5Y Return (annualized) | - | +13.21% |
| Volatility (annualized) | 3.9%Best | 13.1% |
| Fund Family | Reckoner Capital Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | All Cap Blend | Large Cap Blend |
| Inception | Oct 22, 2025 | Jan 22, 1993 |
Not shown on this pair: Max Drawdown, $10,000 over the window, Top 10 Weight.
RCLO vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
RCLO vs SPY Performance
Reckoner BBB-B CLO ETF (RCLO) is an ETF from Reckoner Capital Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year RCLO returned +5.95% while SPY returned +17.47%. Year to date, RCLO is up 4.49% versus a gain of 13.53% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 13.1% compared with 3.9% for RCLO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at 0.47. They move together some of the time, and apart the rest.
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 5.76% against 0.99% for SPY.
You are not choosing between two funds in isolation.
Whichever of RCLO and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
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, by $41 a year on a $10,000 investment.
Which performed better, RCLO or SPY?
Over the past year RCLO returned +5.95% vs +17.47% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, RCLO or SPY?
SPY has been the more volatile fund at 13.1% annualized versus 3.9% for RCLO.
Should I hold both RCLO and SPY?
RCLO and SPY have a monthly-return correlation of 0.47, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, RCLO or SPY?
RCLO yields 5.76% while SPY yields 0.99%, so RCLO currently pays the higher dividend yield.
Is SPY better than RCLO?
SPY has a lower expense ratio. SPY led over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.