RNMN vs. CEFZ
RNMN (RiverNorth Market Neutral ETF) and CEFZ (RiverNorth Active Income ETF) are both exchange-traded funds - RNMN is a Equity Market Neutral fund actively managed by RiverNorth, while CEFZ is a Tactical Allocation fund actively managed by RiverNorth. Both are actively managed. Their -0.15 correlation means they have often moved in opposite directions in the past. RNMN charges 0.90%/yr vs 3.36%/yr for CEFZ.
Performance
RNMN vs. CEFZ - Performance Comparison
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Returns By Period
RNMN
- 1D
- 0.02%
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
CEFZ
- 1D
- -0.60%
- 1M
- -1.38%
- 6M
- 1.09%
- YTD
- 3.55%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $162.06K | $127.40K | $121.00K | |
| $624.98 | $26.76K | $26.76K |
RNMN vs. CEFZ - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
RNMN RiverNorth Market Neutral ETF | -0.10% |
CEFZ RiverNorth Active Income ETF | -0.91% |
Correlation
The correlation between RNMN and CEFZ is -0.15, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 9, 2026 | -0.15 |
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Return for Risk
RNMN vs. CEFZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RiverNorth Market Neutral ETF (RNMN) 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
RNMN vs. CEFZ - Drawdown Comparison
The maximum RNMN drawdown since its inception was -0.47%, smaller than the maximum CEFZ drawdown of -6.66%. Use the drawdown chart below to compare losses from any high point for RNMN and CEFZ.
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Drawdown Indicators
| RNMN | CEFZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.47% | -6.66% | +6.19% |
Current DrawdownCurrent decline from peak | -0.40% | -2.70% | +2.30% |
Average DrawdownAverage peak-to-trough decline | -0.29% | -1.22% | +0.93% |
Volatility
RNMN vs. CEFZ - Volatility Comparison
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Volatility by Period
| RNMN | CEFZ | Difference | |
|---|---|---|---|
Volatility (1Y)Calculated over the trailing 1-year period | 1.98% | 10.25% | -8.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.98% | 10.25% | -8.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.98% | 10.25% | -8.27% |
RNMN vs. CEFZ - Expense Ratio Comparison
RNMN has a 0.90% expense ratio, which is lower than CEFZ's 3.36% expense ratio.
Dividends
RNMN vs. CEFZ - Dividend Comparison
RNMN has not paid dividends to shareholders, while CEFZ's dividend yield for the trailing twelve months is around 9.31%.
| Position | TTM | 2025 |
|---|---|---|
CEFZ RiverNorth Active Income ETF | 9.31% | 4.17% |
RNMN RiverNorth Market Neutral ETF | 0.00% | 0.00% |
Frequently Asked Questions
RNMN and CEFZ have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, RNMN is cheaper at 0.90% per year. The better choice depends on whether you care most about return, fees, risk, or income.
RNMN is cheaper with a 0.90% expense ratio, compared with 3.36% for CEFZ.
CEFZ has the higher dividend yield at 9.31%, compared with 0.00% for RNMN.
RNMN is categorized as Equity Market Neutral, while CEFZ is Tactical Allocation. Their fees differ too: 0.90% for RNMN and 3.36% for CEFZ.
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