CEFZ vs. ALLW

Last updated Apr 1, 2026

Compare and contrast key facts about RiverNorth Active Income ETF (CEFZ) and SPDR Bridgewater All Weather ETF (ALLW).

CEFZ and ALLW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CEFZ is an actively managed fund by RiverNorth. It was launched on Aug 4, 2025. ALLW is an actively managed fund by State Street. It was launched on Mar 5, 2025.

Performance

CEFZ vs. ALLW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in RiverNorth Active Income ETF (CEFZ) and SPDR Bridgewater All Weather ETF (ALLW). The values are adjusted to include any dividend payments, if applicable.

CEFZ vs. ALLW - Yearly Performance Comparison

	2026 (YTD)	2025
CEFZ RiverNorth Active Income ETF	-1.73%	7.67%
ALLW SPDR Bridgewater All Weather ETF	4.95%	9.36%

Returns By Period

In the year-to-date period, CEFZ achieves a -1.73% return, which is significantly lower than ALLW's 4.95% return.

CEFZ

• 1D: 1.92%
• 1M: -3.47%
• YTD: -1.73%
• 6M: 0.69%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ALLW

• 1D: 1.98%
• 1M: -4.28%
• YTD: 4.95%
• 6M: 8.24%
• 1Y: 19.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CEFZ vs. ALLW - Expense Ratio Comparison

CEFZ has a 3.36% expense ratio, which is higher than ALLW's 0.85% expense ratio.

CEFZ

RiverNorth Active Income ETF

ALLW

SPDR Bridgewater All Weather ETF

Return for Risk

CEFZ vs. ALLW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ALLW

ALLW Risk / Return Rank: 84
ALLW Sharpe Ratio Rank: 83
ALLW Sortino Ratio Rank: 82
ALLW Omega Ratio Rank: 83
ALLW Calmar Ratio Rank: 84
ALLW Martin Ratio Rank: 88

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CEFZ vs. ALLW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RiverNorth Active Income ETF (CEFZ) and SPDR Bridgewater All Weather ETF (ALLW). 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.

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

Sharpe Ratios by Period

	CEFZ	ALLW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	1.51	-0.65

Correlation

The correlation between CEFZ and ALLW is 0.48, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

CEFZ vs. ALLW - Dividend Comparison

CEFZ's dividend yield for the trailing twelve months is around 6.96%, more than ALLW's 4.45% yield.

	TTM	2025
CEFZ RiverNorth Active Income ETF	6.96%	4.17%
ALLW SPDR Bridgewater All Weather ETF	4.45%	4.67%

Drawdowns

CEFZ vs. ALLW - Drawdown Comparison

The maximum CEFZ drawdown since its inception was -6.66%, smaller than the maximum ALLW drawdown of -8.78%. Use the drawdown chart below to compare losses from any high point for CEFZ and ALLW.

Drawdown Indicators

	CEFZ	ALLW	Difference
Max Drawdown Largest peak-to-trough decline	-6.66%	-8.78%	+2.12%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.78%	—
Current Drawdown Current decline from peak	-4.87%	-4.28%	-0.59%
Average Drawdown Average peak-to-trough decline	-1.23%	-1.18%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.02%	—

Volatility

Volatility by Period

	CEFZ	ALLW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.41%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.56%	—
Volatility (1Y) Calculated over the trailing 1-year period	10.43%	13.08%	-2.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.43%	12.83%	-2.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.43%	12.83%	-2.40%