RNMN vs. FLDZ

Last updated Jul 30, 2026

RNMN (RiverNorth Market Neutral ETF) and FLDZ (RiverNorth Patriot ETF) are both exchange-traded funds - RNMN is a Equity Market Neutral fund actively managed by RiverNorth, while FLDZ is a Mid Cap Blend Equities fund actively managed by RiverNorth. Both are actively managed. Their 0.16 correlation means their historical movements had little consistent relationship. RNMN charges 0.90%/yr vs 0.77%/yr for FLDZ.

Performance

RNMN vs. FLDZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in RiverNorth Market Neutral ETF (RNMN) and RiverNorth Patriot ETF (FLDZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

RNMN

• 1D: 0.02%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

FLDZ

• 1D: -4.47%
• 1M: -7.57%
• 6M: -1.77%
• YTD: 0.22%
• 1Y: 0.89%
• 3Y*: 8.46%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.50%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FLDZ RiverNorth Patriot ETF	$1.42K	$1.41K	$1.44K
RNMN RiverNorth Market Neutral ETF	$624.98	$26.76K	$26.76K

RNMN vs. FLDZ - Yearly Performance Comparison

	2026 (YTD)
RNMN RiverNorth Market Neutral ETF	-0.10%
FLDZ RiverNorth Patriot ETF	-6.73%

Correlation

The correlation between RNMN and FLDZ is 0.16, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 9, 2026	0.16

RNMN vs. FLDZ - Sectors Allocation Comparison

Sectors	RNMN	FLDZ
Financial Services	80.0%	15.5%
Technology	0.1%	3.4%
Basic Materials	0.0%	1.5%
Communication Services	-	4.2%
Consumer Cyclical	-	14.6%
Consumer Defensive	-	4.7%
Energy	-	10.3%
Healthcare	-	13.2%
Industrials	-	12.3%
Real Estate	-	8.7%
Utilities	-	11.6%

Return for Risk

RNMN vs. FLDZ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RNMN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FLDZ

FLDZ Risk / Return Rank: 12
FLDZ Sharpe Ratio Rank: 12
FLDZ Sortino Ratio Rank: 11
FLDZ Omega Ratio Rank: 12
FLDZ Calmar Ratio Rank: 13
FLDZ Martin Ratio Rank: 13

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RNMN vs. FLDZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RiverNorth Market Neutral ETF (RNMN) and RiverNorth Patriot ETF (FLDZ). 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.

	RNMN	FLDZ	Difference
Sharpe ratio: Return per unit of total volatility	—	0.07	—
Sortino ratio: Return per unit of downside risk	—	0.18	—
Omega ratio: Gain probability vs. loss probability	—	1.02	—
Calmar ratio: Return relative to maximum drawdown	—	0.12	—
Martin ratio: Return relative to average drawdown	—	0.37	—

Drawdowns

RNMN vs. FLDZ - Drawdown Comparison

The maximum RNMN drawdown since its inception was -0.47%, smaller than the maximum FLDZ drawdown of -19.54%. Use the drawdown chart below to compare losses from any high point for RNMN and FLDZ.

Drawdown Indicators

	RNMN	FLDZ	Difference
Max Drawdown Largest peak-to-trough decline	-0.47%	-19.54%	+19.07%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.78%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-17.43%	—
Current Drawdown Current decline from peak	-0.40%	-7.78%	+7.38%
Average Drawdown Average peak-to-trough decline	-0.29%	-5.86%	+5.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.41%	—

Volatility

Volatility by Period

	RNMN	FLDZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.27%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.35%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.98%	13.17%	-11.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.98%	17.02%	-15.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.98%	17.02%	-15.04%

RNMN vs. FLDZ - Expense Ratio Comparison

RNMN has a 0.90% expense ratio, which is higher than FLDZ's 0.77% expense ratio.

Dividends

RNMN vs. FLDZ - Dividend Comparison

RNMN has not paid dividends to shareholders, while FLDZ's dividend yield for the trailing twelve months is around 1.54%.

Position	TTM	2025	2024	2023	2022
FLDZ RiverNorth Patriot ETF	1.54%	1.54%	1.17%	1.39%	1.52%
RNMN RiverNorth Market Neutral ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RNMN and FLDZ in my portfolio?

RNMN and FLDZ have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RNMN or FLDZ?

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.

Which ETF is cheaper, RNMN or FLDZ?

FLDZ is cheaper with a 0.77% expense ratio, compared with 0.90% for RNMN.

Which ETF pays a higher dividend yield, RNMN or FLDZ?

FLDZ has the higher dividend yield at 1.54%, compared with 0.00% for RNMN.

What is the main difference between RNMN and FLDZ?

RNMN is categorized as Equity Market Neutral, while FLDZ is Mid Cap Blend Equities. Their fees differ too: 0.90% for RNMN and 0.77% for FLDZ.