RDFI vs YYY: Grades, Fees and Holdings Compared

Rareview Dynamic Fixed Income ETF

RDFIDCboe

Amplify CEF High Income ETF

YYYCNYSE Arca

Overlap

20.2%by weight

Expense ratio

YYY −1.00pt a year

RDFI4.23%YYY3.23%

Avg volume · 30D

YYY 23.6×the volume

RDFI19.1KYYY451K

5Y return · a year

YYY +0.3pt

RDFI+1.6%YYY+1.9%

RDFI vs YYY Performance

Oct 29, 2021 – Oct 30, 2026

+8.3%RDFI+9.9%YYY

Expense ratio: RDFI 4.23%; YYY 3.23%, better
Fund size: RDFI $74M; YYY $672M
1Y total return: RDFI −2.2%; YYY −0.5%, better
Yield (12M): RDFI 8.92%; YYY 13.98%, better
Holdings: RDFI 36; YYY 61
Avg volume (30D): RDFI 19.1K sh; YYY 451K sh, better
NAV per share: RDFI $21.86; YYY $10.33
52W range

ETF.net Grade

Pillar letters and Scores for RDFI, YYY, with each pillar’s weight
Pillar	RDFI	YYY
Cost30% weight	F8	D31Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	C42Higher	D39
Tradability15% weight	B56	A79Higher
Holdings10% weight	A100Higher	A78
Durability5% weight	C43	A79Higher

Rank among Closed-End Fund Portfolios funds

How we build Categories ›

Same Category. RDFI and YYY are both graded against the same 7 Closed-End Fund Portfolios funds, so their Grades compare head to head.

Closed-End Fund Portfolios⁠

Category · 7 funds

See all 7 ›

YYY ranks 3rd and RDFI 7th of 7 funds in the Closed-End Fund Portfolios Category.

Rank 1BPCEFInvesco CEF Income Composite ETFScore 63
Rank 2BCEFSSaba Opportunistic Hedged Closed-End Funds ETFScore 60
Rank 3CYYYAmplify CEF High Income ETFScore 51
Rank 4CCEFZRiverNorth Active Income ETFScore 48
Rank 6CCCEFCalamos CEF Income & Arbitrage ETFScore 42
Rank 7DRDFIRareview Dynamic Fixed Income ETFScore 39

Our read on each fund

ETF.net Research

RDFIDRareview Dynamic Fixed Income ETF

YYYCAmplify CEF High Income ETF

In short

RDFI A fund of closed-end bond funds with a hand on the wheel: Rareview buys CEFs trading away from their net asset value for the monthly cash, then short-sells Treasury futures when it wants less interest-rate risk.

YYY A one-ticket basket of about 60 closed-end funds, screened for high yield, deep discounts to net asset value, and tradability, then reshuffled twice a year. Running since 2012, and it pays monthly.

Stated mandate

RDFI The Fund seeks total return with an emphasis on current income. It invests primarily in fixed-income closed-end funds and may vary allocations across several fixed-income segments.

YYY The Fund seeks investment results that generally correspond, before fees and expenses, to the price and yield of the Nasdaq CEF High Income Index. It generally invests in the closed-end funds included in that Index.

Why people hold it

RDFI Actively run, not a static basket. The adviser can short U.S. Treasury futures to hedge interest-rate risk and rotate across fixed-income segments as its outlook changes.sec.gov
Targets closed-end funds trading at a discount or premium to net asset value that pay regular cash distributions, with up to 30% allowed in ETFs when those trade better.sec.gov
It can also run a dividend-capture overlay, buying closed-end fund shares around their distribution dates rather than simply holding them.saytechnologies.com
Roughly 40 closed-end funds under the hood, and the ETF itself pays monthly.

YYY The index ranks US-listed CEFs on yield, discount to NAV, and liquidity, weights them by yield with position caps, and rebalances every January and July.amplifyetfs.com
About 60 closed-end funds spread across asset classes, strategies, and fund managers, so no single manager's rough patch dominates the portfolio.amplifyetfs.com
Pays monthly and has run this strategy since its 2012 launch, a long history for a niche corner of the income market.

Worth knowing

RDFI You pay up for the hands-on work: 4.23%, above the category median and above peers like CEFS at 2.61% and PCEF at 2.71% net of a waiver through August 31, 2027.
Two layers of risk: the underlying closed-end funds can use derivatives and borrowing, and the short Treasury futures hedge loses value when Treasury prices rise.sec.gov
A smaller, thinly traded fund, so spreads can be wider and sizeable orders can move the price.

YYY Cost is stacked: Amplify's 0.50% management fee sits on top of the underlying funds' own fees and leverage costs, putting the all-in figure well above a plain index ETF.amplifyetfs.com
Distributions can include return of capital, so part of a monthly payment may be your own principal coming back.
The closed-end funds it holds often borrow, and their discounts to NAV can widen as easily as they narrow, so price swings can outrun the underlying assets.amplifyetfs.com amplifyetfs.com 2

Full RDFI profile⁠

Full YYY profile⁠

RDFI vs YYY Holdings

How RDFI and YYY differ

Overlap by weight

20.2%

Shared holdings make up 48.7% of RDFI and 20.3% of YYY.

Level by level

Asset classFixed Income, Equity0.0%
Holdings14 in both20.2%
Sector11 Sectors49.3%
Countryby domicile79.0%

Sector

Sector weights in RDFI and YYY, widest gap first
Sector	More in RDFIMore in YYY	RDFI	YYY
Financials	RDFI +25.7 points	48.0%	22.3%
Energy	RDFI +25.1 points	37.6%	12.5%
Health Care	YYY +14.0 points	0.4%	14.4%
Technology	YYY +12.0 points	0.3%	12.3%
Industrials	YYY +6.8 points	2.6%	9.4%
Real Estate	YYY +5.8 points	4.3%	10.1%
Utilities	YYY +3.6 points	5.0%	8.6%
Communication	YYY +3.0 points	0.5%	3.5%
Consumer Discretionary	YYY +2.7 points	0.8%	3.5%
Consumer Staples	YYY +1.7 points	0.4%	2.1%
Materials	YYY +1.1 points	0.3%	1.4%

Country, concentration and asset class

Country by domicile

Country weights in RDFI and YYY, widest gap first
Country	More in RDFIMore in YYY	RDFI	YYY
United States	RDFI +21.0 points	100.0%	79.0%
India	YYY +4.3 points	0.0%	4.3%
France	YYY +2.1 points	0.0%	2.1%
United Kingdom	YYY +2.0 points	0.0%	2.0%
Canada	YYY +1.8 points	0.0%	1.8%
Netherlands	YYY +1.4 points	0.0%	1.4%
Japan	YYY +1.2 points	0.0%	1.2%
Germany	YYY +1.1 points	0.0%	1.1%
Other countries (21)	YYY +7.3 points	0.0%	7.3%

Concentration

Weight in the 10 largest Holdings

RDFI45.6%
YYY30.0%

Securities held

RDFI35
YYY61

Asset class

RDFI: Fixed Income
YYY: Equity

Holdings

Only in RDFI21
In both14
Only in YYY47

Only in RDFI

21 securities, 50.1% of RDFI by weight

Rareview Government Money5.27%
Templeton Emerg Mkts Inc Fd4.87%
BlackRock Muniholdings Fund3.82%
Cohen & Steers Limited Durat3.69%
First Trust Intermediate Dur2.80%
Morgan Stanley Emerging Markets Debt Fund Inc2.77%
Pimco Dynamic Income Strategy Fund2.67%
BlackRock Muniyield Quality2.64%
Angel Oak Income Etf2.63%
Tcw Strategic Income Fund In2.20%
Neuberger Berman Intermediate Municipal Fund Inc.2.16%
BlackRock Muniyield Quality2.08%
Eaton Vance Municipal Bond F1.94%
Brandywineglobal Global I1.90%
Cohen & Steers Tax Advantaged Cohen & Steers Tax Advantage1.89%
Pimco Municipal Income Fd Ii1.69%
BlackRock Taxable Municipal1.64%
Allspring Multi Sector Income Allspring Multi Sector Inc1.29%
Nuveen Municipal Credit Opport Nuveen Municipal Credit Opp1.07%
Western Asset Managed Munici0.81%
Vix Us 11/18/26 C220.24%

Only in YYY

47 securities, 80.7% of YYY by weight

abrdn Total Dynamic Dividend Fund3.60%
Tortoise Energy Infrastructure Corp3.33%
Nuveen Floating Rate Income Fund/Closed-end Fund3.31%
BlackRock ESG Capital Allocation Term Trust3.26%
Guggenheim Strategic Opportunities Fund3.17%
PIMCO High Income Fund3.06%
Nuveen Credit Strategies Income Fund2.73%
abrdn Global Infrastructure Income Fund2.62%
PIMCO Income Strategy Fund II2.45%
PIMCO Access Income Fund2.44%
abrdn Life Sciences Investors2.25%
CBRE Global Real Estate Income Fund2.22%
abrdn Income Credit Strategies Fund2.15%
Aberdeen India Fund Inc1.79%
BlackRock Health Sciences Term Trust1.76%
Nuveen Real Asset Income and Growth Fund1.63%
abrdn Healthcare Investors1.61%
ClearBridge Energy Midstream Opportunity Fund Inc1.55%
Nuveen NASDAQ 100 Dynamic Overwrite Fund1.50%
Liberty All-Star Equity Fund1.46%
Nuveen S&P 500 Dynamic Overwrite Fund1.45%
BlackRock Debt Strategies Fund Inc1.44%
BlackRock Floating Rate Income Strategies Fund Inc1.43%
NXG NextGen Infrastructure Income Fund1.43%
Gabelli Equity Trust Inc/The1.42%
General American Investors Co Inc1.42%
NYLIM CBRE Global Infrastructure Megatrends Term Fund1.39%
Eaton Vance Ltd Duration Income Fund1.35%
PIMCO Income Strategy Fund1.34%
First Trust High Yield Opportunities 2027 Term Fund1.33%
Nuveen Multi-Asset Income Fund1.29%
abrdn Global Premier Properties Fund1.28%
Saba Capital Income & Opportunities Fund1.28%
BlackRock Limited Duration Income Trust1.28%
Western Asset High Income Fund II Inc1.26%
PGIM Global High Yield Fund Inc1.25%
Invesco Senior Income Trust1.24%
Advent Convertible and Income Fund1.22%
BlackRock Floating Rate Income Trust1.18%
Invesco Government & Agency Portfolio 12/31/20311.14%
RiverNorth Opportunities Fund Inc1.13%
NXG Cushing Midstream Energy Fund1.02%
Calamos Long/Short Equity & Dynamic Income Trust0.99%
Franklin Ltd Duration Income Trust0.88%
Bluerock Private Real Estate Fund0.85%
Nuveen Core Plus Impact Fund0.78%
Clough Global Opportunities Fund0.71%

Weight gaps

All 14 Holdings in both funds, largest gap first.

Holding weights in RDFI and YYY, widest gap first
Holding	More in RDFIMore in YYY	RDFI	YYY
BlackRock Credit AllocationBTZ	RDFI +3.93 points	5.32%	1.39%
BlackRock Corporate High YieHYT	RDFI +3.58 points	4.96%	1.38%
Morgan Stanley Emerging MarkEDD	RDFI +3.22 points	4.62%	1.40%
Western Asset High Income OpHIO	RDFI +3.02 points	3.93%	0.91%
Brookfield Real Assets IncomRA	RDFI +2.96 points	4.30%	1.34%
Doubleline Yield OpportunDLY	RDFI +2.60 points	4.00%	1.40%
Western Asset Emerging MarkeEMD	RDFI +2.50 points	3.83%	1.33%
Abrdn Asia-Pacific IncomeFAX	RDFI +2.23 points	4.47%	2.24%
Ubs Asset Management High YiDHY	RDFI +1.57 points	2.27%	0.70%
BlackRock Multi-Sector IncomBIT	RDFI +1.06 points	2.43%	1.37%
Kkr Income OpportunitiesKIO	RDFI +0.99 points	2.62%	1.63%
Doubleline Income SolutionsDSL	RDFI +0.80 points	2.17%	1.37%
BlackRock Core Bond TrustBHK	YYY +0.12 points	1.30%	1.42%
Western Asset DiversifiedWDI	RDFI +0.06 points	2.47%	2.41%

All 37 RDFI holdings⁠All 60 YYY holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

RDFI vs YYY Cost

Overpaying RDFI vs YYY

$7,651

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

RDFI 4.23%
$53,424
YYY 3.23%
$45,773

Amount$10,000

Years30 years

Cost over time

RDFI 4.23%
YYY 3.23%
Overpaying

Year by year

Year	RDFI	YYY	Overpaying
10	$6,529	$5,193	$1,336
20	$21,425	$17,735	$3,690
30	$53,424	$45,773	$7,651

Expense ratio

4.23%RDFI
3.23%YYY, cheaper

YYY3.23%RDFI4.23%

2.61%4.23%

Middle half of Closed-End Fund Portfolios funds
Median 3.19%

YYY 5th cheapest of 7 funds

RDFI 7th cheapest of 7 funds

RDFI vs YYY Dividends

Last 12 months to Oct 30, 2026

Yield (12M): RDFI 8.92%; YYY 13.98%, better
Payout (12M): RDFI $1.94; YYY $1.44
Last payment: RDFI $0.16; YYY $0.12
Ex-dividend: RDFI Oct 2, 2026; YYY Oct 29, 2026
Paid on: RDFI Oct 5, 2026; YYY Oct 30, 2026
Frequency: RDFI Monthly; YYY Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

RDFIMonthly · 46 paymentsAll RDFI payments⁠

YYYMonthly · 46 paymentsAll YYY payments⁠

RDFI vs YYY Risk

Fall from peak · 5 years

RDFI
YYY

Risk facts

VolatilityStd dev, 3 years: RDFI 10.1%, betterYYY 10.2%
Return per unit of riskSharpe ratio, 3 years: RDFI 0.66YYY 0.75, better
Worst fallMax drawdown, 5 years: RDFI −23.5%, betterYYY −27.7%
Market sensitivityBeta, 5 years: RDFI 1.49YYY 0.95; Market = 1

Popular comparisons

RDFIDvsPCEFB
Rareview Dynamic Fixed Income ETF · Invesco CEF Income Composite ETF
Expense ratio
4.23% · 2.71%
Category
YYYCvsPCEFB
Amplify CEF High Income ETF · Invesco CEF Income Composite ETF
Expense ratio
3.23% · 2.71%
Category
RDFIDvsCEFSB
Rareview Dynamic Fixed Income ETF · Saba Opportunistic Hedged Closed-End Funds ETF
Expense ratio
4.23% · 2.61%
Category
YYYCvsCEFSB
Amplify CEF High Income ETF · Saba Opportunistic Hedged Closed-End Funds ETF
Expense ratio
3.23% · 2.61%
Category
RDFIDvsCEFZC
Rareview Dynamic Fixed Income ETF · RiverNorth Active Income ETF
Expense ratio
4.23% · 2.82%
Category
YYYCvsCEFZC
Amplify CEF High Income ETF · RiverNorth Active Income ETF
Expense ratio
3.23% · 2.82%
Category