ASGM vs. CEFZ
ASGM (Virtus AlphaSimplex Global Macro ETF) and CEFZ (RiverNorth Active Income ETF) are both Tactical Allocation funds. Both are actively managed. A 0.66 correlation means they provide meaningful diversification when combined. ASGM charges 0.86%/yr vs 3.36%/yr for CEFZ.
Performance
ASGM vs. CEFZ - Performance Comparison
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Returns By Period
In the year-to-date period, ASGM achieves a 17.56% return, which is significantly higher than CEFZ's 3.57% return.
ASGM
- 1D
- -2.93%
- 1M
- -1.26%
- YTD
- 17.56%
- 6M
- 17.07%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CEFZ
- 1D
- -0.97%
- 1M
- -1.00%
- YTD
- 3.57%
- 6M
- 3.99%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ASGM vs. CEFZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ASGM Virtus AlphaSimplex Global Macro ETF | 17.56% | 11.08% |
CEFZ RiverNorth Active Income ETF | 3.57% | 7.67% |
Correlation
The correlation between ASGM and CEFZ is 0.66, 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 5, 2025 | 0.66 |
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Return for Risk
ASGM vs. CEFZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus AlphaSimplex Global Macro ETF (ASGM) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Drawdowns
ASGM vs. CEFZ - Drawdown Comparison
The maximum ASGM drawdown since its inception was -6.62%, roughly equal to the maximum CEFZ drawdown of -6.66%. Use the drawdown chart below to compare losses from any high point for ASGM and CEFZ.
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Drawdown Indicators
| ASGM | CEFZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.62% | -6.66% | +0.04% |
Current DrawdownCurrent decline from peak | -4.56% | -2.23% | -2.33% |
Average DrawdownAverage peak-to-trough decline | -1.34% | -1.21% | -0.13% |
Volatility
ASGM vs. CEFZ - Volatility Comparison
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Volatility by Period
| ASGM | CEFZ | Difference | |
|---|---|---|---|
Volatility (1Y)Calculated over the trailing 1-year period | 17.01% | 10.46% | +6.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.01% | 10.46% | +6.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.01% | 10.46% | +6.55% |
ASGM vs. CEFZ - Expense Ratio Comparison
ASGM has a 0.86% expense ratio, which is lower than CEFZ's 3.36% expense ratio.
Dividends
ASGM vs. CEFZ - Dividend Comparison
ASGM's dividend yield for the trailing twelve months is around 3.84%, less than CEFZ's 8.40% yield.
| Position | TTM | 2025 |
|---|---|---|
ASGM Virtus AlphaSimplex Global Macro ETF | 3.84% | 4.52% |
CEFZ RiverNorth Active Income ETF | 8.40% | 4.17% |
Frequently Asked Questions
ASGM and CEFZ have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ASGM is cheaper at 0.86% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ASGM is cheaper with a 0.86% expense ratio, compared with 3.36% for CEFZ.
CEFZ has the higher dividend yield at 8.40%, compared with 3.84% for ASGM.
They also come from different issuers: Virtus and RiverNorth. Their fees differ too: 0.86% for ASGM and 3.36% for CEFZ.
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