CEFZ vs. IBID

Last updated Jun 23, 2026

CEFZ (RiverNorth Active Income ETF) and IBID (iShares iBonds Oct 2027 Term TIPS ETF) are both exchange-traded funds - CEFZ is a Tactical Allocation fund actively managed by RiverNorth, while IBID is a Inflation-Protected Bonds fund tracking the ICE 2027 Maturity US Inflation-Linked Treasury Index. CEFZ is actively managed, while IBID is passively managed. At a correlation of -0.10, they often move in opposite directions. CEFZ charges 3.36%/yr vs 0.10%/yr for IBID.

Performance

CEFZ vs. IBID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in RiverNorth Active Income ETF (CEFZ) and iShares iBonds Oct 2027 Term TIPS ETF (IBID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CEFZ achieves a 4.59% return, which is significantly higher than IBID's 1.99% return.

CEFZ

• 1D: -0.66%
• 1M: -0.03%
• YTD: 4.59%
• 6M: 5.08%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBID

• 1D: 0.00%
• 1M: -0.19%
• YTD: 1.99%
• 6M: 2.08%
• 1Y: 4.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CEFZ vs. IBID - Yearly Performance Comparison

	2026 (YTD)	2025
CEFZ RiverNorth Active Income ETF	4.59%	7.41%
IBID iShares iBonds Oct 2027 Term TIPS ETF	1.99%	1.14%

Correlation

The correlation between CEFZ and IBID is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 4, 2025	-0.10

Return for Risk

CEFZ vs. IBID — Risk / Return Rank

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

CEFZ

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

IBID

IBID Risk / Return Rank: 95
IBID Sharpe Ratio Rank: 93
IBID Sortino Ratio Rank: 96
IBID Omega Ratio Rank: 96
IBID Calmar Ratio Rank: 96
IBID Martin Ratio Rank: 95

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. IBID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RiverNorth Active Income ETF (CEFZ) and iShares iBonds Oct 2027 Term TIPS ETF (IBID). 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.

	CEFZ	IBID	Difference
Sharpe ratio: Return per unit of total volatility	—	3.29	—
Sortino ratio: Return per unit of downside risk	—	5.55	—
Omega ratio: Gain probability vs. loss probability	—	1.75	—
Calmar ratio: Return relative to maximum drawdown	—	8.22	—
Martin ratio: Return relative to average drawdown	—	30.99	—

Drawdowns

CEFZ vs. IBID - Drawdown Comparison

The maximum CEFZ drawdown since its inception was -6.66%, which is greater than IBID's maximum drawdown of -1.28%. Use the drawdown chart below to compare losses from any high point for CEFZ and IBID.

Drawdown Indicators

	CEFZ	IBID	Difference
Max Drawdown Largest peak-to-trough decline	-6.66%	-1.28%	-5.38%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.49%	—
Current Drawdown Current decline from peak	-1.28%	-0.49%	-0.79%
Average Drawdown Average peak-to-trough decline	-1.20%	-0.22%	-0.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.13%	—

Volatility

Volatility by Period

	CEFZ	IBID	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.35%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.86%	—
Volatility (1Y) Calculated over the trailing 1-year period	10.42%	1.23%	+9.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.42%	2.24%	+8.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.42%	2.24%	+8.18%

CEFZ vs. IBID - Expense Ratio Comparison

CEFZ has a 3.36% expense ratio, which is higher than IBID's 0.10% expense ratio.

Dividends

CEFZ vs. IBID - Dividend Comparison

CEFZ's dividend yield for the trailing twelve months is around 8.32%, more than IBID's 3.68% yield.

Position	TTM	2025	2024	2023
CEFZ RiverNorth Active Income ETF	8.32%	4.17%	0.00%	0.00%
IBID iShares iBonds Oct 2027 Term TIPS ETF	3.68%	4.43%	4.24%	0.81%

Frequently Asked Questions

Can I hold both CEFZ and IBID in my portfolio?

CEFZ and IBID have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CEFZ or IBID?

On fees, IBID is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CEFZ or IBID?

IBID is cheaper with a 0.10% expense ratio, compared with 3.36% for CEFZ.

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

CEFZ has the higher dividend yield at 8.32%, compared with 3.68% for IBID.

What is the main difference between CEFZ and IBID?

CEFZ is categorized as Tactical Allocation, while IBID is Inflation-Protected Bonds. They also come from different issuers: RiverNorth and iShares. Their fees differ too: 3.36% for CEFZ and 0.10% for IBID.