CEFZ
RiverNorth Active Income ETF
The RiverNorth Active Income ETF seeks to generate an attractive level of income combined with a unique, uncorrelated source of alpha* from closed-end fund discount trading. The Fund’s assets are primarily allocated among closed-end funds (“CEFs”) and exchange-traded funds (“ETFs”). Closed-end funds offer a unique structure whereby investors can purchase a diversified fund and potentially generate additional return through discount narrowing. The investment objective is to provide long-term capital appreciation and income.
Listing Information
Fund Documents
Details
Dec 18, 2025
MM/DD/YYYY
Performance
Expense ratio: 3.36%
The performance reflects the performance of the predecessor fund, RiverNorth Core Opportunity Fund (RNCOX), with an inception date of 12/27/2006, the day the predecessor fund began investing. Prior to close of business on 08/01/2025, the Fund operated as an open-end mutual fund. The Fund has an identical investment objective and substantially similar investment strategies and investment risk profiles as the predecessor mutual fund. The NAV returns include returns of the Class R Shares of the predecessor mutual fund prior to the Fund’s commencement of operations. Performance for the Fund’s Shares has not been adjusted to reflect the Fund’s Shares’ lower expenses than those of the predecessor mutual fund’s Class R Shares. Had the predecessor fund been structured as an exchange-traded fund, its performance may have differed. Please refer to the current prospectus for further information.
Performance data quoted on this website represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed or sold in the secondary market, may be worth more or less than the original cost. Investors will incur usual and customary brokerage commissions when buying or selling shares of the exchange-traded funds in the secondary market, and that, if reflected, the brokerage commissions would reduce the performance returns. Current performance may be lower or higher than the performance shown. Shares are bought and sold at market price not net asset value and are not individually redeemable from the fund. Call 877-774-TRUE (8783) for performance data current to the most recent month end. Click here to view or download the factsheet for quarter-end standardized performance.
All performance figures assume reinvestment of dividend and capital gains at net asset value; actual returns may differ. Performance 1-year and less are cumulative; performance over 1-year are average annualized total returns. Market price performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. NAV price performance is determined using the daily calculated NAV. They do not represent the returns you would receive if you traded shares at other times. Performance figures do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or upon redemption or sale of fund shares. The fund inception date is generally several days prior to when the fund begins trading. NAV prices are used to calculate market price performance prior to 08/04/2025, when the fund first traded on an exchange. Click here to view or download a full prospectus. Click here to view or download a summary prospectus.
Index performance does not represent TrueShares fund performance. The S&P 500 is a stock market index tracking the stock performance of 500 of the largest companies listed on stock exchanges in the United States. The ETF is benchmark agnostic and corresponding portfolios may have significant non-correlation to any index. Index returns are generally provided as an overall market indicator. You cannot invest directly in an index. Although reinvestment of dividend and interest payments is assumed, no expenses are netted against an index’s returns. Index performance information was furnished by sources deemed reliable and is believed to be accurate, however, no warranty or representation is made as to the accuracy thereof and the information is subject to correction.
Outcome Period Values
MM/DD/YYYY
Current Outcome Period Values
Dec 18, 2025
MM/DD/YYYY
Top 10 Holdings
As of:
Dec 19, 2025
MM/DD/YYYY
Distributions
RiverNorth Capital Management
While we believe the broad markets are fairly efficient, we also believe there are certain markets and types of securities that are inefficient. We typically favor under-followed, specialty asset classes and markets where the potential to exploit inefficiencies is greatest. We focus on risk control rather than speculative market timing. We believe it is more prudent and more consistent to protect rather than predict. We avoid macro-forecasting as it is difficult and does not consistently align with capital markets.
Disclosures
Before investing, carefully consider the TrueShares ETFs investment objectives, risks, charges and expenses. Specific information about the fund is contained in the prospectus and a summary prospectus, copies of which may be obtained by visiting www.www.true-shares.com. Read the prospectus carefully before you invest.
Inception date listed is for the predecessor fund. Conversion from a mutual fund to an ETF occurred on 08/04/2025.
Historical NAV change will only populate from 08/04/2025 when the fund was converted into an ETF as of 08/04/25.
An investment in the RiverNorth Active Income ETF is subject to numerous risks, including possible loss of principal. The ETF is subject to the following principal risks: Authorized Participants, Market Makers, and Liquidity Providers Concentration Risk associated with ETFs; Equity Market Risk; Management Risk; Market Capitalization Risk; Market Risk; New Fund Risk. A full description of risks is in the prospectus.
The RiverNorth Active Income ETF is also subject to the following risks: Borrowing Risk – borrowings increase fund expenses and are subject to repayment, possibly at inopportune times. Closed-End Fund Risk – closed-end funds are exchange traded, may trade at a discount to their net asset values and may deploy leverage. Derivatives Risk – derivatives are subject to counterparty risk. Equity Risk – equity securities may experience volatility and the value of equity securities may move in opposite directions from each other and from other equity markets generally. Convertible Security Risk – the market value of convertible securities adjusts with interest rates and the value of the underlying stock. Exchange Traded Note Risk – exchange traded notes represent unsecured debt of the issuer and may be influenced by interest rates, credit ratings of the issuer or changes in value of the reference index. Fixed Income Risk – the market value of fixed income securities adjusts with interest rates and the securities are subject to issuer default. Foreign/Emerging Market Risk – foreign securities may be subject to inefficient or volatile markets, different regulatory regimes or different tax policies. These risks may be enhanced in emerging markets. Investment Style Risk – investment strategies may come in and out of favor with investors and may underperform or outperform at times. Management Risk – there is no guarantee that the adviser’s investment decisions will produce the desired results. Large Shareholder Purchase and Redemption Risk – The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Market Risk – economic conditions, interest rates and political events may affect the securities markets. Preferred Stock Risk – preferred stocks generally pay dividends, but may be less liquid than common stocks, have less priority than debt instruments and may be subject to redemption by the issuer. REIT Risk – the value of REITs changes with the value of the underlying properties and changes in interest rates and are subject to additional fees. Security Risk – The value of the Fund may decrease in response to the activities and financial prospects of individual securities in the Fund’s portfolio. Short Sale Risk – short positions are speculative, are subject to transaction costs and are riskier than long positions in securities. Small Cap Risk – smallcap companies are more susceptible to failure, are often thinly traded and have more volatile stock prices. Structured Notes Risk – because of the imbedded derivative feature, structured notes are subject to more risk than investing in a simple note or bond. Swap Risk – swap agreements are subject to counterparty default risk and may not perform as intended. Tax Risk – new federal or state governmental action could adversely affect the tax-exempt status of securities held by the Fund, resulting in higher tax liability for shareholders and potentially hurting Fund performance as well. Underlying Fund Risk – underlying funds have additional fees, may utilize leverage, may not correlate to an intended index and may trade at a discount to their net asset values.
The 30-Day Yield represents net investment income earned by the Fund over the 30-Day period, expressed as an annual percentage rate based on the Fund's share price at the end of the 30-Day period. The 30-Day unsubsidized SEC Yield does not reflect any fee waivers/reimbursements/limits in effect.
30 Day Median Bid/Ask Spread: a measure of a security's liquidity, reflecting the average difference between the highest price a buyer is willing to pay (bid) and the lowest price a seller is willing to accept (ask) over a 30-day period.
*Alpha represents the excess return of an investment or portfolio compared to its benchmark, adjusted for risk.
Individual investors should contact their financial advisor or broker dealer representative for more information on TrueShares ETFs.
Investment Products and Services are: NOT FDIC INSURED / MAY LOSE VALUE / NO BANK GUARANTEE
All registered investment companies, including TrueShares, are obliged to distribute portfolio gains to shareholders at year-end regardless of performance. Trading in TrueShares ETFs will also generate tax consequences and transaction expenses. The information provided is not intended to be tax advice. Tax consequences of dividend distributions may vary by individual taxpayer.
TrueShares ETFs are bought and sold through exchange trading at market price, not Net Asset Value (NAV), and are not individually redeemed from the fund. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns.
TrueShares ETFs (the "Funds") are registered with the United States Securities and Exchange Commission under the Investment Company Act of 1940. TrueMark Investments, LLC is the investment advisor to the Funds and receives a fee from the Funds for its services. The fund is distributed by Paralel Distributors LLC, Member FINRA. Paralel is not affiliated with TrueMark Investments, LLC or RiverNorth Capital Management, LLC.
Find out more about the background of this firm on FINRA's BrokerCheck.
TrueShares ETFs are offered only to United States residents, and information on this site is intended only for such persons. Nothing on this website should be considered a solicitation to buy nor an offer to sell shares of any fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.