- Issuer
- RiverNorth
- Inception Date
- Aug 4, 2025
- Category
- Tactical Allocation
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Assets Under Management
- $40M
Share Price Chart
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Performance
CEFZ Performance Chart
RiverNorth Active Income ETF (CEFZ) is up 4.6% since the beginning of the year. CEFZ is currently trading at $8 per share.
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Returns By Period
RiverNorth Active Income ETF
- 1D
- -0.66%
- 1M
- -0.03%
- YTD
- 4.59%
- 6M
- 5.08%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
CEFZ Monthly Returns History
Based on dividend-adjusted daily data since Aug 4, 2025, CEFZ's average daily return is +0.05%, while the average monthly return is +1.09%. At this rate, an investment would double in approximately 5.3 years.
Historically, 64% of months were positive and 36% were negative. The best month was Apr 2026 with a return of +6.3%, while the worst month was Mar 2026 at -3.5%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 2 months.
On a daily basis, CEFZ closed higher 54% of trading days. The best single day was Nov 28, 2025 with a return of +2.0%, while the worst single day was Dec 1, 2025 at -1.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.19% | -0.38% | -3.47% | 6.27% | 1.32% | -1.15% | 4.59% | ||||||
| 2025 | 2.61% | 2.15% | 0.60% | 3.11% | -1.21% | 7.41% |
Benchmark Metrics
RiverNorth Active Income ETF has an annualized alpha of 0.72%, beta of 0.61, and R2 of 0.57 versus S&P 500 Index. Calculated based on daily prices since August 04, 2025.
- This ETF participated in 84.64% of S&P 500 Index downside but only 65.17% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.61 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 0.72%
- Beta
- 0.61
- R²
- 0.57
- Upside Capture
- 65.17%
- Downside Capture
- 84.64%
Expense Ratio
CEFZ has a high expense ratio of 3.36%, indicating above-average management fees.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for RiverNorth Active Income ETF (CEFZ) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CEFZ | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.37 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.78 | — |
| Martin ratioReturn relative to average drawdown | — | 12.44 | — |
Dividends
Dividend History
RiverNorth Active Income ETF provided a 8.32% dividend yield over the last twelve months, with an annual payout of $0.68 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $0.68 | $0.34 |
Dividend yield | 8.32% | 4.17% |
Monthly Dividends
The table displays the monthly dividend distributions for RiverNorth Active Income ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.00 | $0.34 | ||||||
| 2025 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.34 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the RiverNorth Active Income ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the RiverNorth Active Income ETF was 6.66%, occurring on Mar 30, 2026. Recovery took 11 trading sessions.
The current RiverNorth Active Income ETF drawdown is 1.28%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 pullback2026 | -6.66%Mar 2026 | 1mo 17d | 16d | 2mo 3dFeb 2026 - Apr 2026 |
2025 pullback2025 | -3.16%Nov 2025 | 23d | 6d | 29dOct 2025 - Nov 2025 |
2026 pullback2026 | -2.60%Jun 2026 | 7d | — | 20d 9hJun 2026 - now |
2025 pullback2025 | -2.51%Dec 2025 | 16d | 26d | 1mo 12dDec 2025 - Jan 2026 |
2025 pullback2025 | -2.05%Oct 2025 | 10d | 17d | 27dSep 2025 - Oct 2025 |
Drawdown Indicators
| CEFZ | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.66% | -56.78% | +50.12% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.28% | -1.80% | +0.52% |
Average DrawdownAverage peak-to-trough decline | -1.20% | -10.71% | +9.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.03% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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