NCZ vs RIV

Comparison between Virtus Convertible & Income Fund II (NCZ, ETF) and RiverNorth Opportunities Fund Inc (RIV, ETF).

5-Year PerformanceNCZ has outperformed RIV, delivering a return of +6.3% compared to +5.4%

NCZ vs RIV - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NCZ(ETF)	RIV(ETF)
Net Assets	$336M	$337M
Max Drawdown	85.64%	54.84%
Sharpe Ratio	1.89	0.77
5Y Beta	0.80	0.44
5Y Dividends CAGR	-4.36%	-6.97%

Net Assets

NCZ

$336M

Winner

RIV

$337M

Max Drawdown

NCZ

85.64%

Winner

RIV

54.84%

Sharpe Ratio

Winner

NCZ

1.89

RIV

0.77

5Y Beta

NCZ

0.80

Winner

RIV

0.44

5Y Dividends CAGR

Winner

NCZ

-4.36%

RIV

-6.97%

NCZ vs RIV - Historical Returns

Returns include dividend reinvestment.

Period	NCZ	RIV
1 month	+3.72%	+2.02%
3 months	+15.43%	+5.65%
6 months	+21.96%	+5.76%
1 year	+42.66%	+13.12%
5 years(CAGR)	+6.26%	+5.44%
10 years(CAGR)	+9.36%	+9.03%
Max(CAGR)	+6.17%	+8.62%

Winner

NCZ

+3.72%

RIV

+2.02%

Winner

NCZ

+15.43%

RIV

+5.65%

Winner

NCZ

+21.96%

RIV

+5.76%

Winner

NCZ

+42.66%

RIV

+13.12%

5Y(CAGR)

Winner

NCZ

+6.26%

RIV

+5.44%

10Y(CAGR)

Winner

NCZ

+9.36%

RIV

+9.03%

Max(CAGR)

NCZ

+6.17%

Winner

RIV

+8.62%

NCZ vs RIV - Annual Returns (2003 - 2026)

Returns include dividend reinvestment.

Year	NCZ	RIV
2026	+19.11%	+5.49%
2025	+23.56%	+16.40%
2024	+19.58%	+18.97%
2023	+16.86%	+0.35%
2022	-35.66%	-14.10%
2021	+10.11%	+12.99%
2020	+11.35%	+14.24%
2019	+22.29%	+13.45%
2018	-18.47%	-8.51%
2017	+23.36%	+17.64%
2016	+29.64%	+8.14%
2015	-34.67%	+0.25%
2014	+10.11%	N/A
2013	+24.09%	N/A
2012	+9.02%	N/A
2011	-6.63%	N/A
2010	+25.37%	N/A
2009	+111.32%	N/A
2008	-61.60%	N/A
2007	-12.60%	N/A
2006	+22.86%	N/A
2005	+0.13%	N/A
2004	+12.68%	N/A
2003	+6.87%	N/A

NCZ vs RIV Drawdown Comparison

The maximum drawdown for NCZ was -79.41%, occurring on Nov 21, 2008. Recovery took 926 trading sessions.

The maximum drawdown for RIV was -42.87%, occurring on Mar 23, 2020. Recovery took 147 trading sessions.

The current RIV drawdown is -0.84%.

Rank	NCZ	RIV
#1	-79.41% Jun 4, 2007 - Feb 3, 2011	-42.87% Feb 12, 2020 - Sep 11, 2020
#2	-56.04% Feb 19, 2020 - Dec 4, 2020	-28.99% Aug 9, 2021 - Jul 15, 2024
#3	-50.80% Jul 3, 2014 - Jun 8, 2018	-27.47% Jun 13, 2018 - Feb 10, 2020
#4	-43.93% Nov 8, 2021 - Sep 10, 2025	-19.61% Dec 30, 2015 - Apr 20, 2016
#5	-30.38% Sep 14, 2018 - Feb 18, 2020	-15.19% Feb 18, 2025 - May 19, 2025
#6	-26.78% Jun 3, 2011 - Sep 12, 2012	-11.72% Sep 14, 2020 - Dec 3, 2020
#7	-17.42% Apr 2, 2004 - Sep 13, 2004	-8.67% Dec 3, 2024 - Feb 13, 2025
#8	-13.07% Oct 8, 2012 - Jan 25, 2013	-7.65% Feb 25, 2026 - Apr 22, 2026
#9	-11.95% Feb 13, 2026 - Apr 9, 2026	-6.80% Sep 15, 2025 - Jan 6, 2026
#10	-11.62% Dec 28, 2004 - Jul 14, 2005	-6.39% Sep 7, 2016 - Jan 20, 2017
#11	-8.85% Feb 12, 2021 - Jun 11, 2021	-6.31% Sep 13, 2017 - Jan 8, 2018
#12	-8.61% May 20, 2013 - Oct 11, 2013	-5.60% Jul 14, 2021 - Aug 6, 2021
#13	-7.41% Sep 6, 2005 - Jan 10, 2006	-4.99% Jul 16, 2024 - Aug 12, 2024
#14	-6.84% Mar 9, 2011 - May 27, 2011	-4.89% Jun 9, 2016 - Jul 5, 2016
#15	-6.39% Nov 3, 2025 - Dec 24, 2025	-4.89% May 7, 2021 - May 26, 2021

Correlation

Correlation between NCZ and RIV is 0.83 which considered as a strong positive correlation - the stocks tend to move together.

0.83

-101

Dividend Comparison (2003 - 2026)

NCZ vs RIV dividend yield comparison.

Year	NCZ	RIV
2026	4.55%	6.78%
2025	10.45%	12.80%
2024	11.50%	13.46%
2023	12.84%	13.96%
2022	15.62%	16.61%
2021	8.82%	14.31%
2020	9.28%	13.42%
2019	11.28%	12.34%
2018	15.33%	15.51%
2017	13.80%	10.14%
2016	12.08%	13.01%
2015	18.02%	0.00%
2014	11.45%	0.00%
2013	11.36%	0.00%
2012	12.86%	0.00%
2011	12.96%	0.00%
2010	12.38%	0.00%
2009	12.41%	0.00%
2008	27.60%	0.00%
2007	12.97%	0.00%
2006	10.52%	0.00%
2005	12.68%	0.00%
2004	9.87%	0.00%
2003	3.76%	0.00%