CEFZ vs VYM
RiverNorth Active Income ETF vs Vanguard High Dividend Yield ETF
Which is better, CEFZ or VYM?
Allocation/Balanced against Large Cap Value.
VYM has a lower expense ratio. VYM led over 1Y and the full window. VYM is less concentrated, with 25.9% of the fund in its ten largest positions against 50.7%.
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 | VYM |
|---|---|---|
| Expense Ratio | 2.82% | 0.04%Best |
| AUM | $43M | $81.6B |
| Dividend Yield | 11.00% | 2.24% |
| Holdings | 51 | 613 |
| YTD Return | -0.69% | +14.33%Best |
| 1Y Return | +2.29% | +20.01%Best |
| 3Y Return (annualized) | - | +18.43% |
| 5Y Return (annualized) | - | +12.16% |
| Volatility (annualized) | 8.9%Best | 9.1% |
| Max Drawdown | -8.3% | -6.7%Best |
| $10,000 over 1.1 years | $10,628 | $12,475Best |
| Top 10 Weight | 50.7% | 25.9%Best |
| Fund Family | RiverNorth | Vanguard (US) |
| Category | Allocation/Balanced | Equity |
| Style | Allocation/Balanced | Large Cap Value |
| Inception | Dec 27, 2006 | Nov 10, 2006 |
Volatility and max drawdown, and the $10,000 over 1.1 years row, are measured over the window both funds cover: Aug 4, 2025 to Sep 8, 2026 (1.1 years).
CEFZ vs VYM 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 1.1 years both funds cover.
CEFZ vs VYM Performance
RiverNorth Active Income ETF (CEFZ) is an ETF from RiverNorth and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year CEFZ returned +2.29% while VYM returned +20.01%. Year to date, CEFZ is down 0.69% versus a gain of 14.33% for VYM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 9.1% compared with 8.9% 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 -6.7% for VYM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CEFZ charges 2.82% per year while VYM charges 0.04%. On a $10,000 position that is $282 vs $4 annually, a gap of $278 per year that compounds over a long holding period. On income, CEFZ currently yields 11.00% against 2.24% for VYM.
Holdings Overlap
We hold position weights for 48 holdings in CEFZ and 602 in VYM, totalling 99.7% and 99.5% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 48 days apart, CEFZ as of Aug 17, 2026 and VYM as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 48 positions we hold weights for in CEFZ and 602 in VYM, against full books of 51 and 613.
What only one of them owns
Our book lists 569 positions for VYM that do not appear in our book for CEFZ (97.2% of the fund), and 46 for CEFZ that do not appear in VYM (95.3%).
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 VYM 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 VYM?
CEFZ has an expense ratio of 2.82% while VYM charges 0.04%. VYM is the cheaper option, by $278 a year on a $10,000 investment.
Which performed better, CEFZ or VYM?
Over the past year CEFZ returned +2.29% vs +20.01% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (1 years), CEFZ annualized +5.69% vs +22.27% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CEFZ or VYM?
VYM has been the more volatile fund at 9.1% annualized versus 8.9% for CEFZ. Worst drawdown: CEFZ -8.3% vs VYM -6.7%.
Should I hold both CEFZ and VYM?
CEFZ and VYM have a monthly-return correlation of 0.76, 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 VYM?
CEFZ yields 11.00% while VYM yields 2.24%, so CEFZ currently pays the higher dividend yield.
Is VYM better than CEFZ?
VYM has a lower expense ratio. VYM led over 1Y and the full window. VYM is less concentrated, with 25.9% of the fund in its ten largest positions against 50.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.