AGOX vs. CEFZ
AGOX (Adaptive Alpha Opportunities ETF) and CEFZ (RiverNorth Active Income ETF) are both Tactical Allocation funds. Both are actively managed. A 0.52 correlation means they provide meaningful diversification when combined. AGOX charges 1.33%/yr vs 3.36%/yr for CEFZ.
Performance
AGOX vs. CEFZ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AGOX achieves a 17.44% return, which is significantly higher than CEFZ's 5.98% return.
AGOX
- 1D
- -0.27%
- 1M
- -5.47%
- 6M
- 12.17%
- YTD
- 17.44%
- 1Y
- 17.07%
- 3Y*
- 14.93%
- 5Y*
- 8.52%
- 10Y*
- —
CEFZ
- 1D
- 0.55%
- 1M
- 0.22%
- 6M
- 3.70%
- YTD
- 5.98%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AGOX vs. CEFZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AGOX Adaptive Alpha Opportunities ETF | 17.44% | -0.43% |
CEFZ RiverNorth Active Income ETF | 5.98% | 7.41% |
Correlation
The correlation between AGOX and CEFZ is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 4, 2025 | 0.52 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AGOX vs. CEFZ — Risk / Return Rank
AGOX
CEFZ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
AGOX vs. CEFZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Adaptive Alpha Opportunities ETF (AGOX) and RiverNorth Active Income ETF (CEFZ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| AGOX | CEFZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.18 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.12 | — | — |
| Martin ratioReturn relative to average drawdown | 3.99 | — | — |
Loading charts...
Drawdowns
AGOX vs. CEFZ - Drawdown Comparison
The maximum AGOX drawdown since its inception was -26.93%, which is greater than CEFZ's maximum drawdown of -6.66%. Use the drawdown chart below to compare losses from any high point for AGOX and CEFZ.
Loading charts...
Drawdown Indicators
| AGOX | CEFZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.93% | -6.66% | -20.27% |
Max Drawdown (1Y)Largest decline over 1 year | -15.32% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -21.15% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -26.93% | — | — |
Current DrawdownCurrent decline from peak | -5.47% | -0.42% | -5.05% |
Average DrawdownAverage peak-to-trough decline | -8.05% | -1.20% | -6.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.29% | — | — |
Volatility
AGOX vs. CEFZ - Volatility Comparison
Loading charts...
Volatility by Period
| AGOX | CEFZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.28% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 16.69% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 19.09% | 10.35% | +8.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.84% | 10.35% | +9.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.68% | 10.35% | +9.33% |
AGOX vs. CEFZ - Expense Ratio Comparison
AGOX has a 1.33% expense ratio, which is lower than CEFZ's 3.36% expense ratio.
Dividends
AGOX vs. CEFZ - Dividend Comparison
AGOX's dividend yield for the trailing twelve months is around 2.75%, less than CEFZ's 9.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
AGOX Adaptive Alpha Opportunities ETF | 2.75% | 3.23% | 3.94% | 0.27% | 0.20% | 6.36% |
CEFZ RiverNorth Active Income ETF | 9.10% | 4.17% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AGOX and CEFZ have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AGOX is cheaper at 1.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AGOX is cheaper with a 1.33% expense ratio, compared with 3.36% for CEFZ.
CEFZ has the higher dividend yield at 9.10%, compared with 2.75% for AGOX.
They also come from different issuers: Adaptive Funds and RiverNorth. Their fees differ too: 1.33% for AGOX and 3.36% for CEFZ.
Find the right allocation for AGOX and CEFZ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer