CEFZ vs MPAY
RiverNorth Active Income ETF vs Akros Monthly Payout ETF
Which is better, CEFZ or MPAY?
Each has led over a different period.
MPAY has a lower expense ratio. CEFZ led over the full window, MPAY over 1Y.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CEFZ | MPAY |
|---|---|---|
| Expense Ratio | 2.82% | 0.56%Best |
| AUM | $40M | $2M |
| Dividend Yield | 10.37% | 7.15% |
| Holdings | 92 | 63 |
| Volatility (annualized) | 9.7%Best | 10.9% |
| Max Drawdown | -8.3%Best | -15.7% |
| Fund Family | RiverNorth | Akros |
| Category | Allocation/Balanced | Allocation/Balanced |
| Style | Allocation/Balanced | Allocation/Balanced |
| Inception | Dec 27, 2006 | May 5, 2022 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), $10,000 over the window, Top 10 Weight.
The two price series end 540 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. CEFZ has data through Oct 14, 2026 and MPAY through Apr 22, 2025.
Risk: Volatility and Drawdowns
MPAY has been the more volatile fund, with annualized monthly volatility of 10.9% compared with 9.7% for CEFZ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -8.3% for CEFZ and -15.7% for MPAY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
Fees and Cost Over Time
CEFZ charges 2.82% per year while MPAY charges 0.56%. On a $10,000 position that is $282 vs $56 annually, a gap of $226 per year that compounds over a long holding period. On income, CEFZ currently yields 10.37% against 7.15% for MPAY.
You are not choosing between two funds in isolation.
Whichever of CEFZ and MPAY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CEFZ or MPAY?
CEFZ has an expense ratio of 2.82% while MPAY charges 0.56%. MPAY is the cheaper option, by $226 a year on a $10,000 investment.
Which is riskier, CEFZ or MPAY?
MPAY has been the more volatile fund at 10.9% annualized versus 9.7% for CEFZ. Worst drawdown: CEFZ -8.3% vs MPAY -15.7%.
Which pays a higher dividend, CEFZ or MPAY?
CEFZ yields 10.37% while MPAY yields 7.15%, so CEFZ currently pays the higher dividend yield.
Is MPAY better than CEFZ?
MPAY has a lower expense ratio. CEFZ led over the full window, MPAY over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.