CEFZvsCEFSETF Comparison
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RiverNorth Active Income ETF (CEFZ) and Saba Closed-End Funds ETF (CEFS) belong to the same industry segment: Multi-Asset: Other. CEFZ's top 3 sector exposures are Non-Corporate, Finance and Technology. In contrast, CEFS's top sector exposures are Non-Corporate and Finance. CEFZ is more expensive with a Total Expense Ratio (TER) of 3.36%, versus 2.61% for CEFS. CEFZ is up 7.95% year-to-date (YTD) with +$6M in YTD flows. CEFS performs better with 17.21% YTD performance, and +$34M in YTD flows. Run a side-by-side ETF comparison of CEFZ and CEFS below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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CEFZ vs CEFS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/31/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | CEFZ CEFS | +3.17%+3.12% | +2.22%+1.42% | +7.95%+17.21% | +13.41%+22.48% | n/a+77.60% | n/a+92.90% |
| Flows | CEFZ CEFS | +$2M+$3M | +$3M+$18M | +$6M+$34M | +$5M+$76M | -+$227M | -+$282M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CEFZ CEFS | +9.14%+10.62% | +8.87%+9.18% | n/a+10.55% | n/a+12.21% |
| Max drawdown | CEFZ CEFS | -2.61%-4.11% | -6.39%-4.75% | n/a-12.48% | n/a-16.51% |
| Max drawdown duration | CEFZ CEFS | 33d51d | 63d41d | n/a104d | n/a436d |
Trading data
CEFZ | CEFS | |
Last sale 9/1/2026 at 1:30 PM | $25.25 | |
| Previous close 08/31/2026 | $25.29 | |
| Consolidated volume 08/31/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/1/2026 at 1:30 PM
Live
Closed
CEFZ | CEFS | |
|---|---|---|
| Last price | – | $25.25 |
| 1D performance | – | -0.16% |
| AuM | $42.53 M | $438.21 M |
| E/R | 3.36% | 2.61% |
Characteristics
CEFZ | CEFS | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | TrueShares | Saba Capital |
| Benchmark | - | - |
| N° of holdings | 6084 | 24 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 4, 2025 | March 21, 2017 |
| ESG | No | No |
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Exposure
Countries
CEFZ
USA
40.42%
Other
59.58%
CEFS
USA
35.86%
Other
64.14%
Sectors
CEFZ
Non-Corporate
21.51%
Finance
21.48%
Other
57.01%
CEFS
Non-Corporate
35.41%
Other
64.59%
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Diversification
CEFZ
Total weight of top 15 holdings out of 15
61.84%
CEFS
Total weight of top 15 holdings out of 15
58.26%
Top 15 holdings
Data as of July 31, 2026
CEFZ
Pershing Square USA Ltd.
9.63%
Saba Capital Income & Opportunities Fund II
6.14%
US09260K1016
4.65%
US18914C1009
4.38%
Pershing Square Holdings Ltd.
4.34%
US7809151043
3.97%
US95766R1041
3.88%
US7809101055
3.69%
US09260E1055
3.50%
US18914E1064
3.18%
BlackRock Corporate High Yield Fund, Inc.
3.10%
US12812C1062
3.06%
Fs Specialty Lending Fund
2.82%
Blue Owl Technology Finance Corp
2.79%
US30290Y1010
2.71%
CEFS
US09260K1016
11.41%
Virtus Dividend Interest & Premium Strategy Fund
6.95%
ASA Gold & Precious Metals Ltd.
6.61%
BlackRock ESG Capital Allocation Term Trust
4.82%
US7809151043
3.58%
US36242H1041
3.24%
US3688021043
2.91%
PIMCO Dynamic Income Strategy Fund
2.90%
Neuberger Next Generation Connectivity Fund Inc.
2.57%
US6706EW1000
2.51%
US64129H1041
2.39%
US92835W1071
2.25%
US5928351023
2.16%
BlackRock Technology & Private Equity Term Trust
2.05%
US8954361031
1.89%
Frequently asked questions about CEFZ and CEFS
How have the CEFZ and CEFS ETFs performed in 2026?
As of August 31, 2026, CEFZ is up 7.95% year-to-date (YTD), while CEFS has returned 17.21%. That puts CEFS better performer ahead so far this year.
Which ETF is attracting more investor money: CEFZ or CEFS?
Year-to-date, the CEFZ ETF saw +$6M in flows, compared to +$34M for CEFS.
Which ETF is more volatile: CEFZ or CEFS?
Over the past year, CEFZ had a volatility of 8.87%, while CEFS experienced 9.18%.
Which ETF is bigger: CEFZ or CEFS?
As of August 31, 2026, CEFZ holds $42.53 M in assets under management (AUM), while CEFS manages $438.21 M.
What sectors do the CEFZ and CEFS ETFs invest in?
CEFZ leans toward sectors like Non-Corporate and Finance. Meanwhile, CEFS focuses on Non-Corporate.
What are the top holdings of the CEFZ ETF and CEFS ETF?
CEFZ top holdings include Pershing Square USA Ltd., Saba Capital Income & Opportunities Fund II and US09260K1016. CEFS holds in its top three: US09260K1016, Virtus Dividend Interest & Premium Strategy Fund and ASA Gold & Precious Metals Ltd..
Which ETF is more diversified: CEFZ or CEFS?
CEFZ holds 8017 securities with 61.84% of its assets in the top 15. CEFS has 71 securities and a top 15 weight of 58.26%.
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