RiverNorth Active Income ETF

Key Statistics

Historical Performance

Total return including reinvested distributions, from adjusted closing prices.

Top Holdings

Top 25 holdings as of Mar 31, 2026 · source: SEC N-PORT. Full holdings & prospectus →

About CEFZ

The Fund’s adviser TrueMark Investments,LLC (“TrueMark” or the “Adviser”), will allocate the Fund’s investments among international and domesticequities, fixed income securities, and cash and cash equivalents. The Adviser may allocate to the various asset classes either throughthe purchase of closed-end investment companies (including business development companies (“BDCs”)), exchange-traded funds(“ETFs”) and other registered investment companies (collectively, “Underlying Funds”) or through direct investmentin the various securities. The Adviser considers a number of factors when making these allocations, including fundamental and technicalanalysis to assess the relative risk and reward potential throughout the financial markets. As a result, the percentages allocated toequities, fixed income securities and cash and cash equivalents will vary. The Fund may invest in fixed-income securities of any maturityand does not expect to directly invest in securities rated below Baa3 by Moody’s Investor Services, Inc. (“Moody’s”)(securities rated below BBB by S&P Global Ratings (“S&P”) and Baa3 by Moody’s are commonly referred to as “junkbonds”), although it may invest in Underlying Funds that hold securities rated below Baa3 or that are in default. To achieve exposure to the asset classes discussedabove, the Fund will typically invest more than 50% of its assets in Underlying Funds. The remaining portion of the Fund’s assetswill be invested in individual equity and fixed income securities and real estate investment trusts (“REITs”), limited partnershipsand structured securities, such as collateralized mortgage and debt obligations. REITs are companies that invest in real estate eitherdirectly or through mortgage securities. Collateralized mortgage obligations are securities that are backed by a pool of mortgage instrumentsand collateralized debt obligations are securities backed by a pool of bonds, debt or other assets. The Fund may invest directly in exchange-tradednotes (“ETNs”), which are debt securities whose returns are linked to a particular index. The Fund may also invest in structurednotes, which are debt securities whose returns are linked to the performance of a single equity security, a basket of equity securities,or an equity index. The Fund also may invest directly in the equityand debt securities of U.S. corporate issuers, and U.S. government securities. Equity securities purchased by the Fund may be of companiesof any market capitalization and may include, but are not limited to, common stocks, preferred stocks, convertible securities, and warrantsto buy common stocks. Fixed income securities purchased by the Fund may include corporate bonds, U.S. Treasury securities and municipalbonds. In addition, the Fund may invest without limitation in foreign securities, including securities issued in emerging market countries,either directly or by purchasing sponsored or unsponsored American Depositary Receipts (“ADRs”). Unsponsored ADRs are generallyestablished by banks or brokers and may not share in the benefits or voting rights of sponsored ADRs. The Fund may also invest in UnderlyingFunds that hold foreign securities or ADRs. The Fund may also seek to realize additional gains or hedge investments by selling a securityshort. When the Fund engages in a short sale, it sells a security it does not own and, to complete the sale, borrows the same securityfrom a broker or other institution. The Fund may liquidate positions in order to change the Fund’s asset allocation or to generatecash to invest in more attractive opportunities, which may result in a larger portion of any net gains being realized as short-term capitalgains. In addition, a negative change in the fundamental or qualitative characteristics of the issuer may cause the Adviser to sell asecurity. Finally, the Adviser may sell a security when its price approaches, meets or exceeds the Adviser’s target price. The Fundmay enter into total return swaps. Total return swaps are agreements that provide the Fund with a return based on the performance ofan underlying asset (called a “reference asset”), in exchange for fee payments to a counterparty based on a specific rateof return. The difference in the value of these income streams is recorded daily by the Fund and is settled in cash at the end of eachmonth. The fee paid by the Fund will typically be determined by multiplying the face value of the swap agreement by an agreedupon interest rate. In addition, if the reference asset declines in value over the term of the swap, the Fund would also be requiredto pay the dollar value of that decline to the counterparty. The Fund may use its own net asset value (“NAV”) or the NAVof a similar fund as the reference asset in a total return swap. This strategy serves to reduce “cash drag” (the impact ofuninvested cash on the Fund’s overall return) by replacing it with the total return of the Fund’s own, or a similar fund’sinvestment holdings. The Fund records fluctuations in the value of open swap contracts on a daily basis as unrealized gains or losses.  

CEFZ News

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