CEFZ vs. TDSC

Last updated Jul 12, 2026

CEFZ (RiverNorth Active Income ETF) and TDSC (Cabana Target Drawdown 10 ETF) are both Tactical Allocation funds. Both are actively managed. A 0.59 correlation means they provide meaningful diversification when combined. CEFZ charges 3.36%/yr vs 0.69%/yr for TDSC.

Performance

CEFZ vs. TDSC - Performance Comparison

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

Returns By Period

In the year-to-date period, CEFZ achieves a 5.56% return, which is significantly lower than TDSC's 10.29% return.

CEFZ

• 1D: 0.34%
• 1M: 1.24%
• 6M: 4.54%
• YTD: 5.56%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TDSC

• 1D: -0.41%
• 1M: 0.25%
• 6M: 8.09%
• YTD: 10.29%
• 1Y: 15.99%
• 3Y*: 9.70%
• 5Y*: 2.62%
• 10Y*: —

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

CEFZ vs. TDSC - Yearly Performance Comparison

	2026 (YTD)	2025
CEFZ RiverNorth Active Income ETF	5.56%	7.41%
TDSC Cabana Target Drawdown 10 ETF	10.29%	6.45%

Correlation

The correlation between CEFZ and TDSC is 0.59, 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	0.59

Return for Risk

CEFZ vs. TDSC — 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.

TDSC

TDSC Risk / Return Rank: 69
TDSC Sharpe Ratio Rank: 67
TDSC Sortino Ratio Rank: 65
TDSC Omega Ratio Rank: 64
TDSC Calmar Ratio Rank: 74
TDSC Martin Ratio Rank: 74

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. TDSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RiverNorth Active Income ETF (CEFZ) and Cabana Target Drawdown 10 ETF (TDSC). 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	TDSC	Difference
Sharpe ratio: Return per unit of total volatility	—	1.72	—
Sortino ratio: Return per unit of downside risk	—	2.40	—
Omega ratio: Gain probability vs. loss probability	—	1.31	—
Calmar ratio: Return relative to maximum drawdown	—	3.00	—
Martin ratio: Return relative to average drawdown	—	10.84	—

Drawdowns

CEFZ vs. TDSC - Drawdown Comparison

The maximum CEFZ drawdown since its inception was -6.66%, smaller than the maximum TDSC drawdown of -21.51%. Use the drawdown chart below to compare losses from any high point for CEFZ and TDSC.

Drawdown Indicators

	CEFZ	TDSC	Difference
Max Drawdown Largest peak-to-trough decline	-6.66%	-21.51%	+14.85%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.35%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.24%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.51%	—
Current Drawdown Current decline from peak	-0.81%	-1.30%	+0.49%
Average Drawdown Average peak-to-trough decline	-1.20%	-9.24%	+8.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.48%	—

Volatility

Volatility by Period

	CEFZ	TDSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.74%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.27%	—
Volatility (1Y) Calculated over the trailing 1-year period	10.39%	9.33%	+1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.39%	10.38%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.39%	10.25%	+0.14%

CEFZ vs. TDSC - Expense Ratio Comparison

CEFZ has a 3.36% expense ratio, which is higher than TDSC's 0.69% expense ratio.

Dividends

CEFZ vs. TDSC - Dividend Comparison

CEFZ's dividend yield for the trailing twelve months is around 9.13%, more than TDSC's 1.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
CEFZ RiverNorth Active Income ETF	9.13%	4.17%	0.00%	0.00%	0.00%	0.00%	0.00%
TDSC Cabana Target Drawdown 10 ETF	1.61%	2.92%	2.06%	2.06%	1.76%	1.11%	0.54%

Frequently Asked Questions

Can I hold both CEFZ and TDSC in my portfolio?

CEFZ and TDSC have a correlation of 0.59, 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 TDSC?

On fees, TDSC is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CEFZ or TDSC?

TDSC is cheaper with a 0.69% expense ratio, compared with 3.36% for CEFZ.

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

CEFZ has the higher dividend yield at 9.13%, compared with 1.61% for TDSC.

What is the main difference between CEFZ and TDSC?

They also come from different issuers: RiverNorth and Exchange Traded Concepts. Their fees differ too: 3.36% for CEFZ and 0.69% for TDSC.