IVV vs RIV
iShares Core S&P 500 ETF vs RiverNorth Opportunities Fund Inc.
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | RIV | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 6.43% | |
| AUM | $865.2B | $323M | |
| Dividend Yield | 1.09% | 9.67% | |
| Holdings | 508 | 442 | |
| YTD Return | +13.80% | +6.97% | |
| 1Y Return | +23.01% | +4.38% | |
| 3Y Return (annualized) | +21.77% | +13.36% | |
| 5Y Return (annualized) | +13.39% | +3.38% | |
| Volatility (annualized) | 15.1% | 15.3% | |
| Max Drawdown | -56.5% | -55.6% | |
| Fund Family | iShares by BlackRock (US) | RiverNorth | |
| Category | Equity | Allocation/Balanced | |
| Inception | May 15, 2000 | Dec 23, 2015 |
IVV vs RIV Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and RiverNorth Opportunities Fund Inc. (RIV) is a ETF from RiverNorth. Over the past year IVV returned +23.01% while RIV returned +4.38%. Year to date, IVV is up 13.80% versus a gain of 6.97% for RIV.
Over three years, IVV compounded at +21.77% per year against +13.36% for RIV; over five years the annualized figures are +13.39% and +3.38% respectively. Across the full 11-year window we track, IVV has the edge at +7.04% annualized vs +1.54%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RIV has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.5% for IVV and -55.6% for RIV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.69. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while RIV charges 6.43%. On a $10,000 position that is $3 vs $643 annually, a gap of $640 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 9.67% for RIV.
Holdings Overlap
IVV and RIV share 3 holdings out of 761 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or RIV?
IVV has an expense ratio of 0.03% while RIV charges 6.43%. IVV is the cheaper option. On a $10,000 investment, that is $640 per year of difference.
Which performed better, IVV or RIV?
Over the past year IVV returned +23.01% vs +4.38% for RIV, so IVV leads on 1-year performance. Over the longest common window we track (11 years), IVV annualized +7.04% vs +1.54% for RIV. Past performance does not guarantee future results.
Which is riskier, IVV or RIV?
RIV has been the more volatile fund at 15.3% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs RIV -55.6%.
Should I hold both IVV and RIV?
IVV and RIV have a monthly-return correlation of 0.69, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and RIV?
IVV and RIV share 3 common holdings with a 0.0% weight overlap. Combined, they hold 761 unique securities.
Which pays a higher dividend, IVV or RIV?
IVV yields 1.09% while RIV yields 9.67%, so RIV currently pays the higher dividend yield.
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