RNMN vs. NTRL

Last updated Jul 30, 2026

RNMN (RiverNorth Market Neutral ETF) and NTRL (First Trust Equity Market Neutral ETF) are both Equity Market Neutral funds. Both are actively managed. Their -0.24 correlation means they have often moved in opposite directions in the past. RNMN charges 0.90%/yr vs 0.95%/yr for NTRL.

Performance

RNMN vs. NTRL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in RiverNorth Market Neutral ETF (RNMN) and First Trust Equity Market Neutral ETF (NTRL). 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*: —

NTRL

• 1D: 0.96%
• 1M: 5.03%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
NTRL First Trust Equity Market Neutral ETF	$452.11K	$410.63K	$352.50K
RNMN RiverNorth Market Neutral ETF	$624.98	$26.76K	$26.76K

RNMN vs. NTRL - Yearly Performance Comparison

	2026 (YTD)
RNMN RiverNorth Market Neutral ETF	-0.10%
NTRL First Trust Equity Market Neutral ETF	3.72%

Correlation

The correlation between RNMN and NTRL is -0.24, 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	-0.24

Return for Risk

RNMN vs. NTRL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RiverNorth Market Neutral ETF (RNMN) and First Trust Equity Market Neutral ETF (NTRL). 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.

Drawdowns

RNMN vs. NTRL - Drawdown Comparison

The maximum RNMN drawdown since its inception was -0.47%, smaller than the maximum NTRL drawdown of -1.81%. Use the drawdown chart below to compare losses from any high point for RNMN and NTRL.

Drawdown Indicators

	RNMN	NTRL	Difference
Max Drawdown Largest peak-to-trough decline	-0.47%	-1.81%	+1.34%
Current Drawdown Current decline from peak	-0.40%	0.00%	-0.40%
Average Drawdown Average peak-to-trough decline	-0.29%	-0.73%	+0.44%

Volatility

Volatility by Period

	RNMN	NTRL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.98%	11.96%	-9.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.98%	11.96%	-9.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.98%	11.96%	-9.98%

RNMN vs. NTRL - Expense Ratio Comparison

RNMN has a 0.90% expense ratio, which is lower than NTRL's 0.95% expense ratio.

Dividends

RNMN vs. NTRL - Dividend Comparison

Neither RNMN nor NTRL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both RNMN and NTRL in my portfolio?

RNMN and NTRL have a correlation of -0.24, 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 NTRL?

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.

Which ETF is cheaper, RNMN or NTRL?

RNMN is cheaper with a 0.90% expense ratio, compared with 0.95% for NTRL.

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

RNMN and NTRL have nearly identical dividend yields, around 0.00%.

What is the main difference between RNMN and NTRL?

They also come from different issuers: RiverNorth and First Trust. Their fees differ too: 0.90% for RNMN and 0.95% for NTRL.