RCLY – Reckoner BBB-B CLO Annual ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks total return, while seeking to make only one dividend or distribution payment per annum. Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings made for investment purposes) in investments that provide exposure to debt tranches of collateralized loan obligations (“CLOs”) of any maturity or duration that are rated, at the time of purchase, between and including BBB+ and B- (or equivalent by a nationally recognized statistical rating organization (“NRSRO”)). It is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
RCLY	Reckoner BBB-B CLO Annual ETF	ETF	Open	—	—	Feb 10, 2026	$18.03M	0.550%	—	—	—

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