RSF vs SPY
RiverNorth Capital and Income Fund, Inc. vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | RSF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 5.25% | 0.09% | |
| AUM | $52M | $789.1B | |
| Dividend Yield | 8.16% | 1.01% | |
| Holdings | 9,730 | 505 | |
| YTD Return | +7.84% | +13.39% | |
| 1Y Return | +8.77% | +22.52% | |
| 3Y Return (annualized) | +8.53% | +21.36% | |
| 5Y Return (annualized) | +4.43% | +13.19% | |
| Volatility (annualized) | 8.6% | 15.3% | |
| Max Drawdown | -44.2% | -56.5% | |
| Fund Family | RiverNorth | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Sep 22, 2016 | Jan 22, 1993 |
RSF vs SPY Performance
RiverNorth Capital and Income Fund, Inc. (RSF) is a ETF from RiverNorth and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year RSF returned +8.77% while SPY returned +22.52%. Year to date, RSF is up 7.84% versus a gain of 13.39% for SPY.
Over three years, RSF compounded at +8.53% per year against +21.36% for SPY; over five years the annualized figures are +4.43% and +13.19% respectively. Across the full 10-year window we track, SPY has the edge at +8.84% annualized vs +0.07%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 8.6% for RSF. 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 -44.2% for RSF and -56.5% for SPY. 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 0.31. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
RSF charges 5.25% per year while SPY charges 0.09%. On a $10,000 position that is $525 vs $9 annually, a gap of $516 per year that compounds over a long holding period. On income, RSF currently yields 8.16% against 1.01% for SPY.
Holdings Overlap
RSF and SPY share 0 holdings out of 520 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, RSF or SPY?
RSF has an expense ratio of 5.25% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $516 per year of difference.
Which performed better, RSF or SPY?
Over the past year RSF returned +8.77% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (10 years), RSF annualized +0.07% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, RSF or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 8.6% for RSF. Worst drawdown: RSF -44.2% vs SPY -56.5%.
Should I hold both RSF and SPY?
RSF and SPY have a monthly-return correlation of 0.31, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between RSF and SPY?
RSF and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 520 unique securities.
Which pays a higher dividend, RSF or SPY?
RSF yields 8.16% while SPY yields 1.01%, so RSF currently pays the higher dividend yield.
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