BSR vs. CEFZ

Last updated Aug 1, 2026

BSR (Beacon Selective Risk ETF) and CEFZ (RiverNorth Active Income ETF) are both Tactical Allocation funds. BSR is passively managed, while CEFZ is actively managed. Their 0.62 correlation means they have sometimes moved together and sometimes differently. BSR charges 1.10%/yr vs 3.36%/yr for CEFZ.

Performance

BSR vs. CEFZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Beacon Selective Risk ETF (BSR) and RiverNorth Active Income ETF (CEFZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSR achieves a 2.28% return, which is significantly lower than CEFZ's 4.53% return.

BSR

• 1D: 0.46%
• 1M: -0.59%
• 6M: -1.03%
• YTD: 2.28%
• 1Y: 7.86%
• 3Y*: 5.83%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.14%

CEFZ

• 1D: 0.31%
• 1M: -1.16%
• 6M: 2.29%
• YTD: 4.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BSR Beacon Selective Risk ETF	$62.80K	$47.57K	$82.93K
CEFZ RiverNorth Active Income ETF	$177.45K	$117.53K	$123.01K

BSR vs. CEFZ - Yearly Performance Comparison

	2026 (YTD)	2025
BSR Beacon Selective Risk ETF	2.28%	5.46%
CEFZ RiverNorth Active Income ETF	4.53%	7.41%

Correlation

The correlation between BSR and CEFZ is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 4, 2025	0.62

Return for Risk

BSR vs. CEFZ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BSR

BSR Risk / Return Rank: 31
BSR Sharpe Ratio Rank: 32
BSR Sortino Ratio Rank: 30
BSR Omega Ratio Rank: 30
BSR Calmar Ratio Rank: 34
BSR Martin Ratio Rank: 31

CEFZ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BSR vs. CEFZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Beacon Selective Risk ETF (BSR) 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.

	BSR	CEFZ	Difference
Sharpe ratio: Return per unit of total volatility	0.79	—	—
Sortino ratio: Return per unit of downside risk	1.13	—	—
Omega ratio: Gain probability vs. loss probability	1.14	—	—
Calmar ratio: Return relative to maximum drawdown	1.16	—	—
Martin ratio: Return relative to average drawdown	2.78	—	—

Drawdowns

BSR vs. CEFZ - Drawdown Comparison

The maximum BSR drawdown since its inception was -15.68%, which is greater than CEFZ's maximum drawdown of -6.66%. Use the drawdown chart below to compare losses from any high point for BSR and CEFZ.

Drawdown Indicators

	BSR	CEFZ	Difference
Max Drawdown Largest peak-to-trough decline	-15.68%	-6.66%	-9.02%
Max Drawdown (1Y) Largest decline over 1 year	-6.15%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.68%	—	—
Current Drawdown Current decline from peak	-5.45%	-1.78%	-3.67%
Average Drawdown Average peak-to-trough decline	-4.60%	-1.22%	-3.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	—	—

Volatility

Volatility by Period

	BSR	CEFZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.64%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.08%	10.23%	-1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.99%	10.23%	+5.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.99%	10.23%	+5.76%

BSR vs. CEFZ - Expense Ratio Comparison

BSR has a 1.10% expense ratio, which is lower than CEFZ's 3.36% expense ratio.

Dividends

BSR vs. CEFZ - Dividend Comparison

BSR's dividend yield for the trailing twelve months is around 2.83%, less than CEFZ's 10.13% yield.

Position	TTM	2025	2024	2023
BSR Beacon Selective Risk ETF	2.83%	2.89%	0.89%	1.08%
CEFZ RiverNorth Active Income ETF	10.13%	4.17%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BSR and CEFZ in my portfolio?

BSR and CEFZ have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BSR or CEFZ?

On fees, BSR is cheaper at 1.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BSR or CEFZ?

BSR is cheaper with a 1.10% expense ratio, compared with 3.36% for CEFZ.

Which ETF pays a higher dividend yield, BSR or CEFZ?

CEFZ has the higher dividend yield at 10.13%, compared with 2.83% for BSR.

What is the main difference between BSR and CEFZ?

They also come from different issuers: American Beacon and RiverNorth. Their fees differ too: 1.10% for BSR and 3.36% for CEFZ.