Elevation Series Trust - RiverNorth Market Neutral ETF
$25.93+0.00 (+0.00%)
- Expense ratio
- 0.59%
- Fund size
- $7M
- 1Y return
- +2.4%
- Yield · Last 12 months
- 11.88%
- Holdings
- 220
- Volume · 30D
- 0M sh
- NAV per share
- $26.02
- 52W range
The ETF.net RNMN Grade
Score 66 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.AScore 90Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 66Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.FScore 16Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 87Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.CScore 43Category rank
Our read on RNMN
BA 2022 pre-merger SPAC arbitrage fund that grew up: RiverNorth widened it in 2026 into a full market-neutral book of arbitrage and relative-value trades, aiming at returns untethered from stocks and bonds.
The Fund seeks consistent total return with limited correlation to equity markets. It uses a market-neutral strategy intended to generate returns in both rising and falling markets through investment characteristics and relative pricing differences.
Why people hold it
- At 0.59% it undercuts the other top-rated funds in its alternatives cohort (QALT at 0.80%, CCEF at 0.74%, HDG at 0.95%) and lands far below the group's median fee.
- Wide toolkit by design: pre-merger SPAC arbitrage, relative value, basis trades and corporate bond arbitrage, run to seek returns independent of market direction.rivernorth.comtrue-shares.com
- Hedge-fund-style trades in a plain 1940 Act ETF wrapper: a few hundred positions, no lockup, no accreditation gate.
- RiverNorth has run the strategy since the 2022 launch, and the fund stands among the stronger implementations in its alternatives peer group.true-shares.com
Worth knowing
- Small fund, thinly traded. Spreads can run wider than mainstream ETFs, and order size matters more than usual here.
- The market-neutral mandate dates only to the July 2026 rename from the narrower pre-merger SPAC fund, so the live record under the wider remit is short.true-shares.comfinance.yahoo.com
- Payouts land once or twice a year, and market neutral means limited correlation, not low risk: arbitrage spreads can move against the book.
RNMN Holdings
- Stocks
- 220
- 23%
- STATE STREET INST U.S. GOVERNMENT MMKT ADMN CLASS
Sectors
- Financials99.9%
- Technology0.0%
- Materials0.0%
Geography
- United States89.33%
- Cayman Islands5.64%
- Singapore2.14%
- Mexico1.52%
- United Kingdom0.75%
- Hong Kong0.37%
- China0.21%
- Sweden0.04%
RNMN Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | RNMN |
|---|---|
| Year to date | +1.5% |
| 1 month | −0.2% |
| 3 months | −0.5% |
| 1 year | +2.4% |
| 3 years | +5.8% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | RNMN |
|---|---|---|
| 2026 YTD | +1.5% | |
| 2025 | +10.2% | |
| 2024 | +5.3% | |
| 2023 | +6.0% | |
| 2022 | +1.9% |
RNMN in the news
ETF.net Research hasn’t filed on RNMN yet — coverage lands here as it’s written.
RNMN Dividends
- 11.88%
- $3.08
- $3.08 per share
- Annual
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Dec 24, 2025 | Dec 26, 2025 | $3.08 |
| Dec 27, 2024 | Dec 30, 2024 | $1.10 |
| Dec 27, 2023 | Dec 29, 2023 | $1.29 |
| Dec 29, 2022 | Jan 3, 2023 | $0.06 |
RNMN Risk
- 3.7%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.41
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −4.4%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.02
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
RNMN Cost
- The middle half of Alternative Strategies funds
- Median 1.00%
3 of the 29 Alternative Strategies funds charge less.