FLDZ vs. CEFZ
FLDZ (RiverNorth Patriot ETF) and CEFZ (RiverNorth Active Income ETF) are both exchange-traded funds - FLDZ is a Mid Cap Blend Equities fund actively managed by RiverNorth, while CEFZ is a Tactical Allocation fund actively managed by RiverNorth. Both are actively managed. Their 0.52 correlation means they have sometimes moved together and sometimes differently. FLDZ charges 0.77%/yr vs 3.36%/yr for CEFZ.
Performance
FLDZ vs. CEFZ - Performance Comparison
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Returns By Period
In the year-to-date period, FLDZ achieves a 3.40% return, which is significantly lower than CEFZ's 4.53% return.
FLDZ
- 1D
- 0.83%
- 1M
- -4.86%
- 6M
- 1.59%
- YTD
- 3.40%
- 1Y
- 6.02%
- 3Y*
- 9.54%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.21%
CEFZ
- 1D
- 0.31%
- 1M
- -1.16%
- 6M
- 2.29%
- YTD
- 4.53%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $177.45K | $117.53K | $123.01K | |
| $3.19K | $2.29K | $1.72K |
FLDZ vs. CEFZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FLDZ RiverNorth Patriot ETF | 3.40% | 2.53% |
CEFZ RiverNorth Active Income ETF | 4.53% | 7.41% |
Correlation
The correlation between FLDZ and CEFZ is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 4, 2025 | 0.52 |
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Return for Risk
FLDZ vs. CEFZ — Risk / Return Rank
FLDZ
CEFZ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FLDZ vs. CEFZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RiverNorth Patriot ETF (FLDZ) 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.
| FLDZ | CEFZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.08 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | — | — |
| Martin ratioReturn relative to average drawdown | 2.09 | — | — |
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Drawdowns
FLDZ vs. CEFZ - Drawdown Comparison
The maximum FLDZ drawdown since its inception was -19.54%, which is greater than CEFZ's maximum drawdown of -6.66%. Use the drawdown chart below to compare losses from any high point for FLDZ and CEFZ.
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Drawdown Indicators
| FLDZ | CEFZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.54% | -6.66% | -12.88% |
Max Drawdown (1Y)Largest decline over 1 year | -7.78% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -17.43% | — | — |
Current DrawdownCurrent decline from peak | -4.86% | -1.78% | -3.08% |
Average DrawdownAverage peak-to-trough decline | -5.85% | -1.22% | -4.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.45% | — | — |
Volatility
FLDZ vs. CEFZ - Volatility Comparison
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Volatility by Period
| FLDZ | CEFZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.82% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 10.62% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 13.39% | 10.23% | +3.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.04% | 10.23% | +6.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.04% | 10.23% | +6.81% |
FLDZ vs. CEFZ - Expense Ratio Comparison
FLDZ has a 0.77% expense ratio, which is lower than CEFZ's 3.36% expense ratio.
Dividends
FLDZ vs. CEFZ - Dividend Comparison
FLDZ's dividend yield for the trailing twelve months is around 1.49%, less than CEFZ's 10.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CEFZ RiverNorth Active Income ETF | 10.13% | 4.17% | 0.00% | 0.00% | 0.00% |
FLDZ RiverNorth Patriot ETF | 1.49% | 1.54% | 1.17% | 1.39% | 1.52% |
Frequently Asked Questions
FLDZ and CEFZ have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLDZ is cheaper at 0.77% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLDZ is cheaper with a 0.77% expense ratio, compared with 3.36% for CEFZ.
CEFZ has the higher dividend yield at 10.13%, compared with 1.49% for FLDZ.
FLDZ is categorized as Mid Cap Blend Equities, while CEFZ is Tactical Allocation. Their fees differ too: 0.77% for FLDZ and 3.36% for CEFZ.
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