Reckoner Yield Enhanced AAA CLO Annual ETF

The Reckoner Yield Enhanced AAA CLO Annual ETF is an actively managed exchange-traded fund that provides leveraged exposure to a portfolio of AAA-rated collateralized loan obligations (CLOs). Its primary function is to seek enhanced total return through high-quality, USD-denominated floating-rate CLOs, emphasizing credit quality and capital preservation while employing up to 50% leverage to amplify income potential. Notable features include a unique annual distribution strategy that limits payouts to once per year, aiming to maximize long-term value by reinvesting income and reducing tax drag for investors. The fund holds around 47-48 securities, primarily securitized bonds from issuers like Regatta III Funding, OHA Credit Funding, and Madison Park Funding, comprising over 98% of assets. Launched in July 2025, it plays a significant role in the fixed-income market by offering retail access to institutional-grade AAA CLOs, which are backed by diversified senior loans and noted for low default rates, within the ultrashort bond category.