Reckoner Capital Launches $27M BBB-B CLO ETF

Reckoner Capital Management has launched the Reckoner BBB-B CLO ETF (NYSE:RCLO) with over $27 million in assets under management, aiming to offer investors income and capital preservation by investing primarily in BBB- and BB-rated Collateralized Loan Obligation bonds. The actively managed ETF is designed to provide higher yields than AAA-rated CLOs while maintaining better performance than other credit assets with similar ratings, appealing to investors seeking diversification beyond traditional fixed-income products. RCLO carries an expense ratio of 0.50% and is managed by co-founder and CEO John Kim alongside portfolio managers Tim Wickstrom and Jared Finsterbusch. This ETF follows Reckoner's earlier debut of a AAA-focused CLO ETF (RAAA) and seeks to make CLO investments more accessible to retail investors, traditionally limited to institutional players. The fund trades on the New York Stock Exchange under the ticker symbol RCLO, with a current price of $25.12 as of October 24, 2025. Reckoner Capital, established in early 2025 with backing from RedBird Capital Partners, specializes in structured products like CLOs and aims to capitalize on growing investor interest in mezzanine CLO tranches.