CEFZ vs INCM
RiverNorth Active Income ETF vs Franklin Income Focus ETF
Which is better, CEFZ or INCM?
INCM has been ahead.
INCM has a lower expense ratio. INCM led over 1Y and the full window. INCM is less concentrated, with 44.3% of the fund in its ten largest positions against 49.4%.
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 | INCM |
|---|---|---|
| Expense Ratio | 2.82% | 0.38%Best |
| AUM | $40M | $2.0B |
| Dividend Yield | 10.37% | 5.26% |
| Holdings | 98 | 488 |
| YTD Return | -3.63% | +8.12%Best |
| 1Y Return | -2.99% | +10.08%Best |
| 3Y Return (annualized) | - | +12.35% |
| Volatility (annualized) | 9.3% | 6.3%Best |
| Max Drawdown | -8.3% | -3.3%Best |
| $10,000 over 1.3 years | $10,317 | $11,504Best |
| Top 10 Weight | 49.4% | 44.3%Best |
| Fund Family | RiverNorth | Franklin Templeton Investments (US) |
| Category | Allocation/Balanced | Allocation/Balanced |
| Style | Allocation/Balanced | Allocation/Balanced |
| Inception | Dec 27, 2006 | Jun 6, 2023 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 1.3 years row, are measured over the window both funds cover: Aug 4, 2025 to Nov 11, 2026 (1.3 years).
CEFZ vs INCM 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 1.3 years both funds cover.
CEFZ vs INCM Performance
RiverNorth Active Income ETF (CEFZ) is an ETF from RiverNorth and Franklin Income Focus ETF (INCM) is an ETF from Franklin Templeton Investments (US). Over the past year CEFZ returned -2.99% while INCM returned +10.08%. Year to date, CEFZ is down 3.63% versus a gain of 8.12% for INCM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CEFZ has been the more volatile fund, with annualized monthly volatility of 9.3% compared with 6.3% for INCM. 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 -3.3% for INCM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.61. They move together some of the time, and apart the rest.
Fees and Cost Over Time
CEFZ charges 2.82% per year while INCM charges 0.38%. On a $10,000 position that is $282 vs $38 annually, a gap of $244 per year that compounds over a long holding period. On income, CEFZ currently yields 10.37% against 5.26% for INCM.
Holdings Overlap
We hold position weights for 44 holdings in CEFZ and 81 in INCM, totalling 99.2% and 100.0% 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 44 positions we hold weights for in CEFZ and 81 in INCM, against full books of 98 and 488.
What only one of them owns
Our book lists 61 positions for INCM that do not appear in our book for CEFZ (76.5% of the fund), and 41 for CEFZ that do not appear in INCM (94.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of CEFZ and INCM 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 INCM?
CEFZ has an expense ratio of 2.82% while INCM charges 0.38%. INCM is the cheaper option, by $244 a year on a $10,000 investment.
Which performed better, CEFZ or INCM?
Over the past year CEFZ returned -2.99% vs +10.08% for INCM, so INCM leads on 1-year performance. Over the longest common window we track (1 years), CEFZ annualized +2.43% vs +11.38% for INCM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CEFZ or INCM?
CEFZ has been the more volatile fund at 9.3% annualized versus 6.3% for INCM. Worst drawdown: CEFZ -8.3% vs INCM -3.3%.
Should I hold both CEFZ and INCM?
CEFZ and INCM have a monthly-return correlation of 0.61, 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 INCM?
CEFZ yields 10.37% while INCM yields 5.26%, so CEFZ currently pays the higher dividend yield.
Is INCM better than CEFZ?
INCM has a lower expense ratio. INCM led over 1Y and the full window. INCM is less concentrated, with 44.3% of the fund in its ten largest positions against 49.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.