RNMN ETF — RiverNorth Market Neutral ETF
RiverNorth Market Neutral ETF (RNMN)
RNMN is an ETF. its distribution rate is 11.88%, its trailing-12-month yield is 11.88%, its expense ratio is 0.89%. Dividend Vision Distribution Safety Score™ is 50/100 (Unproven). Total return is 27.2% over the past 4.2 years, 87.6 points behind SPY at 114.8%.
At the current 11.88% distribution rate, a $10,000 investment would generate approximately $1,188 per year if the next payment matches the last regular one.
RiverNorth Market Neutral ETF is the continuing fund following the rename from SPCZ (Listed Funds Trust - RiverNorth Enhanced Pre-Merger SPAC ETF), effective 2026-07-09. See SPCZ for the fund's history prior to the rename.
RNMN dividend yield and income
Price as of 2026-09-22.
The distribution rate (11.88%) is the latest posted forward yield, paid annual. Trailing-12-month yield (11.88%) is the last year of payments divided by the current price. The last dividend was $3.081. The last ex-dividend date was 12/24/2025. It was paid on 12/26/2025. At the current 11.88% distribution rate, a $10,000 investment would generate approximately $1,188 per year if the next payment matches the last regular one.
| Ex-date | Amount | Change from previous payment |
|---|---|---|
| 2025-12-24 | $3.081 | 179.8% |
| 2024-12-27 | $1.101 | -14.5% |
| 2023-12-27 | $1.288 | 2200.0% |
| 2022-12-29 | $0.056 | — |
| 2022 total (partial launch year) | $0.056 | — |
| 2023 total | $1.288 | — |
| 2024 total | $1.101 | -14.5% |
| 2025 total | $3.081 | 179.8% |
RNMN dividend growth
Trailing-12-month distributions versus the preceding 12 months changed +179.8%. The 1Y row below uses this same adjacent TTM cash-window comparison.
| Window | Change |
|---|---|
| 1Y | +179.8% |
| 3Y | 0.0% |
| 5Y | 0.0% |
RNMN holdings and sector exposure
Holdings are not available for this snapshot.
RNMN performance versus SPY
Price and return data through 2026-09-22.
Total return is 27.2% over the past 4.2 years, 87.6 points behind SPY at 114.8%. Over the past year its total return — price change plus distributions reinvested — is 2.4%. Its deepest 1-year drawdown was 3.8%.
| Window | Total return | CAGR |
|---|---|---|
| 1M | -0.2% | — |
| 3M | -0.5% | — |
| 6M | 1.5% | — |
| YTD | 1.5% | — |
| 1Y | 2.4% | — |
| 2Y CAGR | — | 7.00% |
| 3Y CAGR | — | 5.80% |
| Since inception (4.2 years) | 27.2% | 5.90% |
RNMN key facts
- Distribution Safety Score™
- 50 · Unproven
- Issuer
- RiverNorth
- Asset type
- ETF
- Asset class
- Equity
- Inception date
- 07/12/2022
- Expense ratio
- 0.89%
- Distribution rate
- 11.88%
- Distribution frequency
- Annual
- Trailing yield
- 11.88%
- Last close
- $25.93 (as of 2026-09-22)
- AUM
- $7,152,944
- Average volume
- 16.0
- Last dividend
- $3.081
- Last ex-dividend date
- 12/24/2025 (as of 2025-12-24)
- Last payment date
- 12/26/2025 (as of 2025-12-26)
- Beta
- 0.02
How Dividend Vision calculates yield and returns
Distribution rate (11.88%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (11.88%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.
Distribution rate methodology · Distribution Safety Score methodology
Sources and review
Primary sources: RiverNorth; prices and distributions from Dividend Vision, derived from vendor EOD data.
Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.
RNMN risks and drawbacks
Payments are annual, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 3.8%.
Who may consider RNMN — and who may not
It is a weaker fit for investors who need monthly cash flow (RNMN pays annual); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.
Frequently asked questions
Does RNMN pay monthly?
No. RNMN currently pays annual, not monthly.
What is RNMN's expense ratio?
RNMN's expense ratio is 0.89%.
What is RNMN's dividend yield?
RNMN's distribution rate is 11.88%, paid annual, with a 0.89% expense ratio — the latest regular payout annualised, not a trailing 12-month yield (data as of September 22, 2026).
How has RNMN's dividend grown?
Trailing-12-month distributions versus the preceding 12 months changed +179.8%. That is the same adjacent TTM cash-window comparison used in the dividend-history table.
When does RNMN pay a dividend?
RNMN pays annual. The last dividend was $3.081. The last ex-dividend date was 12/24/2025. It was paid on 12/26/2025.
How has RNMN performed?
Total return is 27.2% over the past 4.2 years, 87.6 points behind SPY at 114.8%. Over the past year its total return — price change plus distributions reinvested — is 2.4%. Its deepest 1-year drawdown was 3.8%.
Is RNMN a good investment?
RNMN's Dividend Vision Distribution Safety Score is 50 (Unproven). That is a risk signal, not investment advice. Its distribution rate is 11.88% (the latest regular payout annualised, not a trailing yield). Compare peers below rather than treating any single figure as a buy or sell.
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