ESBG vs. CEFZ
ESBG (First Trust Enhanced Stocks, Bonds & Gold ETF) and CEFZ (RiverNorth Active Income ETF) are both Tactical Allocation funds. Both are actively managed. A 0.53 correlation means they provide meaningful diversification when combined. ESBG charges 0.95%/yr vs 3.36%/yr for CEFZ.
Performance
ESBG vs. CEFZ - Performance Comparison
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Returns By Period
In the year-to-date period, ESBG achieves a -3.07% return, which is significantly lower than CEFZ's 5.14% return.
ESBG
- 1D
- 0.01%
- 1M
- -3.17%
- 6M
- -7.61%
- YTD
- -3.07%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CEFZ
- 1D
- -0.81%
- 1M
- 0.22%
- 6M
- 2.75%
- YTD
- 5.14%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ESBG vs. CEFZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ESBG First Trust Enhanced Stocks, Bonds & Gold ETF | -3.07% | 5.67% |
CEFZ RiverNorth Active Income ETF | 5.14% | 3.06% |
Correlation
The correlation between ESBG and CEFZ is 0.53, 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 Nov 19, 2025 | 0.53 |
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Return for Risk
ESBG vs. CEFZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Enhanced Stocks, Bonds & Gold ETF (ESBG) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Drawdowns
ESBG vs. CEFZ - Drawdown Comparison
The maximum ESBG drawdown since its inception was -18.84%, which is greater than CEFZ's maximum drawdown of -6.66%. Use the drawdown chart below to compare losses from any high point for ESBG and CEFZ.
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Drawdown Indicators
| ESBG | CEFZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.84% | -6.66% | -12.18% |
Current DrawdownCurrent decline from peak | -17.80% | -1.21% | -16.59% |
Average DrawdownAverage peak-to-trough decline | -7.97% | -1.19% | -6.78% |
Volatility
ESBG vs. CEFZ - Volatility Comparison
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Volatility by Period
| ESBG | CEFZ | Difference | |
|---|---|---|---|
Volatility (1Y)Calculated over the trailing 1-year period | 25.52% | 10.34% | +15.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.52% | 10.34% | +15.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.52% | 10.34% | +15.18% |
ESBG vs. CEFZ - Expense Ratio Comparison
ESBG has a 0.95% expense ratio, which is lower than CEFZ's 3.36% expense ratio.
Dividends
ESBG vs. CEFZ - Dividend Comparison
ESBG's dividend yield for the trailing twelve months is around 1.12%, less than CEFZ's 9.17% yield.
| Position | TTM | 2025 |
|---|---|---|
CEFZ RiverNorth Active Income ETF | 9.17% | 4.17% |
ESBG First Trust Enhanced Stocks, Bonds & Gold ETF | 1.12% | 0.24% |
Frequently Asked Questions
ESBG and CEFZ have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ESBG is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ESBG is cheaper with a 0.95% expense ratio, compared with 3.36% for CEFZ.
CEFZ has the higher dividend yield at 9.17%, compared with 1.12% for ESBG.
They also come from different issuers: First Trust and RiverNorth. Their fees differ too: 0.95% for ESBG and 3.36% for CEFZ.
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