CEFZ vs TSPX
RiverNorth Active Income ETF vs Twin Oak Active Opportunities ETF
Which is better, CEFZ or TSPX?
TSPX has been ahead.
TSPX has a lower expense ratio. TSPX led over 1Y and the full window.
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 | TSPX |
|---|---|---|
| Expense Ratio | 2.82% | 1.04%Best |
| AUM | $40M | $247M |
| Dividend Yield | 10.37% | 1.96% |
| Holdings | 92 | 4 |
| YTD Return | -5.41% | +10.71%Best |
| 1Y Return | -3.36% | +11.30%Best |
| Volatility (annualized) | 9.7%Best | 9.8% |
| Max Drawdown | -8.3% | -8.1%Best |
| $10,000 over 1.2 years | $10,121 | $11,589Best |
| Fund Family | RiverNorth | Twin Oak |
| Category | Allocation/Balanced | Allocation/Balanced |
| Style | Allocation/Balanced | Allocation/Balanced |
| Inception | Dec 27, 2006 | Feb 20, 2025 |
Not shown on this pair: 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Aug 4, 2025 to Oct 14, 2026 (1.2 years).
CEFZ vs TSPX growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.2 years both funds cover.
CEFZ vs TSPX Performance
RiverNorth Active Income ETF (CEFZ) is an ETF from RiverNorth and Twin Oak Active Opportunities ETF (TSPX) is an ETF from Twin Oak. Over the past year CEFZ returned -3.36% while TSPX returned +11.30%. Year to date, CEFZ is down 5.41% versus a gain of 10.71% for TSPX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TSPX has been the more volatile fund, with annualized monthly volatility of 9.8% 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 -8.1% for TSPX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CEFZ charges 2.82% per year while TSPX charges 1.04%. On a $10,000 position that is $282 vs $104 annually, a gap of $178 per year that compounds over a long holding period. On income, CEFZ currently yields 10.37% against 1.96% for TSPX.
Holdings Overlap
We hold position weights for 45 holdings in CEFZ and 3 in TSPX, totalling 99.8% and 99.6% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 45 positions we hold weights for in CEFZ and 3 in TSPX, against full books of 92 and 4.
You are not choosing between two funds in isolation.
Whichever of CEFZ and TSPX 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 TSPX?
CEFZ has an expense ratio of 2.82% while TSPX charges 1.04%. TSPX is the cheaper option, by $178 a year on a $10,000 investment.
Which performed better, CEFZ or TSPX?
Over the past year CEFZ returned -3.36% vs +11.30% for TSPX, so TSPX leads on 1-year performance. Over the longest common window we track (1 years), CEFZ annualized +1.01% vs +13.08% for TSPX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CEFZ or TSPX?
TSPX has been the more volatile fund at 9.8% annualized versus 9.7% for CEFZ. Worst drawdown: CEFZ -8.3% vs TSPX -8.1%.
Should I hold both CEFZ and TSPX?
CEFZ and TSPX have a monthly-return correlation of 0.79, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, CEFZ or TSPX?
CEFZ yields 10.37% while TSPX yields 1.96%, so CEFZ currently pays the higher dividend yield.
Is TSPX better than CEFZ?
TSPX has a lower expense ratio. TSPX led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.