CEFZ vs. THRO
CEFZ (RiverNorth Active Income ETF) and THRO (iShares U.S. Thematic Rotation Active ETF) are both Tactical Allocation funds. Both are actively managed. A 0.69 correlation means they provide meaningful diversification when combined. CEFZ charges 3.36%/yr vs 0.60%/yr for THRO.
Performance
CEFZ vs. THRO - Performance Comparison
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Returns By Period
In the year-to-date period, CEFZ achieves a 4.59% return, which is significantly lower than THRO's 11.87% return.
CEFZ
- 1D
- -0.66%
- 1M
- -0.03%
- YTD
- 4.59%
- 6M
- 5.08%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
THRO
- 1D
- -0.37%
- 1M
- 1.00%
- YTD
- 11.87%
- 6M
- 11.18%
- 1Y
- 26.46%
- 3Y*
- 23.19%
- 5Y*
- —
- 10Y*
- —
CEFZ vs. THRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CEFZ RiverNorth Active Income ETF | 4.59% | 7.41% |
THRO iShares U.S. Thematic Rotation Active ETF | 11.87% | 8.68% |
Correlation
The correlation between CEFZ and THRO is 0.69, 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 | 0.69 |
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Return for Risk
CEFZ vs. THRO — Risk / Return Rank
CEFZ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
THRO
CEFZ vs. THRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RiverNorth Active Income ETF (CEFZ) and iShares U.S. Thematic Rotation Active ETF (THRO). 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 | THRO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.34 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.44 | — |
| Martin ratioReturn relative to average drawdown | — | 10.60 | — |
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Drawdowns
CEFZ vs. THRO - Drawdown Comparison
The maximum CEFZ drawdown since its inception was -6.66%, smaller than the maximum THRO drawdown of -26.54%. Use the drawdown chart below to compare losses from any high point for CEFZ and THRO.
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Drawdown Indicators
| CEFZ | THRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.66% | -26.54% | +19.88% |
Max Drawdown (1Y)Largest decline over 1 year | — | -10.87% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.07% | — |
Current DrawdownCurrent decline from peak | -1.28% | -1.35% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -1.20% | -6.64% | +5.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.50% | — |
Volatility
CEFZ vs. THRO - Volatility Comparison
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Volatility by Period
| CEFZ | THRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.43% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.12% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 10.42% | 13.83% | -3.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.42% | 18.77% | -8.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.42% | 18.77% | -8.35% |
CEFZ vs. THRO - Expense Ratio Comparison
CEFZ has a 3.36% expense ratio, which is higher than THRO's 0.60% expense ratio.
Dividends
CEFZ vs. THRO - Dividend Comparison
CEFZ's dividend yield for the trailing twelve months is around 8.32%, more than THRO's 0.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CEFZ RiverNorth Active Income ETF | 8.32% | 4.17% | 0.00% | 0.00% | 0.00% |
THRO iShares U.S. Thematic Rotation Active ETF | 0.25% | 0.15% | 0.73% | 0.55% | 0.90% |
Frequently Asked Questions
CEFZ and THRO have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, THRO is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
THRO is cheaper with a 0.60% expense ratio, compared with 3.36% for CEFZ.
CEFZ has the higher dividend yield at 8.32%, compared with 0.25% for THRO.
They also come from different issuers: RiverNorth and iShares. Their fees differ too: 3.36% for CEFZ and 0.60% for THRO.
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