RIV vs NCZ

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

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

RIV vs NCZ - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

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

Net Assets

Winner

RIV

$337M

NCZ

$336M

Max Drawdown

Winner

RIV

54.84%

NCZ

85.64%

Sharpe Ratio

RIV

0.77

Winner

NCZ

1.89

5Y Beta

Winner

RIV

0.44

NCZ

0.80

5Y Dividends CAGR

RIV

-6.97%

Winner

NCZ

-4.36%

RIV vs NCZ - Historical Returns

Returns include dividend reinvestment.

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

RIV

+2.02%

Winner

NCZ

+3.72%

RIV

+5.65%

Winner

NCZ

+15.43%

RIV

+5.76%

Winner

NCZ

+21.96%

RIV

+13.12%

Winner

NCZ

+42.66%

5Y(CAGR)

RIV

+5.44%

Winner

NCZ

+6.26%

10Y(CAGR)

RIV

+9.03%

Winner

NCZ

+9.36%

Max(CAGR)

Winner

RIV

+8.62%

NCZ

+6.17%

RIV vs NCZ - Annual Returns (2003 - 2026)

Returns include dividend reinvestment.

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

RIV vs NCZ Drawdown Comparison

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

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

The current RIV drawdown is -0.84%.

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

Correlation

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

0.83

-101

Dividend Comparison (2003 - 2026)

RIV vs NCZ dividend yield comparison.

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