RIV vs VOO
RiverNorth Opportunities Fund Inc. vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | RIV | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 5.11% | 0.03% | |
| AUM | $337M | $997.4B | |
| Dividend Yield | 10.94% | 1.08% | |
| Holdings | 442 | 509 | |
| YTD Return | +2.72% | +12.25% | |
| 1Y Return | +0.71% | +20.92% | |
| 3Y Return (annualized) | +12.01% | +21.79% | |
| 5Y Return (annualized) | +3.41% | +13.05% | |
| Volatility (annualized) | 15.4% | 14.1% | |
| Max Drawdown | -55.6% | -34.3% | |
| Fund Family | RiverNorth | Vanguard (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | Dec 23, 2015 | Sep 7, 2010 |
RIV vs VOO Performance
RiverNorth Opportunities Fund Inc. (RIV) is a ETF from RiverNorth and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year RIV returned +0.71% while VOO returned +20.92%. Year to date, RIV is up 2.72% versus a gain of 12.25% for VOO.
Over three years, RIV compounded at +12.01% per year against +21.79% for VOO; over five years the annualized figures are +3.41% and +13.05% respectively. Across the full 11-year window we track, VOO has the edge at +13.45% annualized vs +1.15%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RIV has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 14.1% for VOO. 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 -55.6% for RIV and -34.3% for VOO. 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
RIV charges 5.11% per year while VOO charges 0.03%. On a $10,000 position that is $511 vs $3 annually, a gap of $508 per year that compounds over a long holding period. On income, RIV currently yields 10.94% against 1.08% for VOO.
Holdings Overlap
RIV and VOO 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, RIV or VOO?
RIV has an expense ratio of 5.11% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $508 per year of difference.
Which performed better, RIV or VOO?
Over the past year RIV returned +0.71% vs +20.92% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (11 years), RIV annualized +1.15% vs +13.45% for VOO. Past performance does not guarantee future results.
Which is riskier, RIV or VOO?
RIV has been the more volatile fund at 15.4% annualized versus 14.1% for VOO. Worst drawdown: RIV -55.6% vs VOO -34.3%.
Should I hold both RIV and VOO?
RIV and VOO 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 RIV and VOO?
RIV and VOO share 3 common holdings with a 0.0% weight overlap. Combined, they hold 761 unique securities.
Which pays a higher dividend, RIV or VOO?
RIV yields 10.94% while VOO yields 1.08%, so RIV currently pays the higher dividend yield.
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