- CUSIP
- 681129505
- Inception Date
- Sep 27, 2016
- Region
- North America (U.S.)
- Category
- Tactical Allocation
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
OPP Performance Chart
RiverNorth/DoubleLine Strategic Opportunity Fund (OPP) is up 1.9% since the beginning of the year. OPP is currently trading at $8 per share. Investors who bought $1,000 worth of OPP shares 5 years ago would now be looking at an investment worth $1,017.
Loading charts...
Returns By Period
RiverNorth/DoubleLine Strategic Opportunity Fund (OPP) has returned 1.87% so far this year and 3.41% over the past 12 months.
RiverNorth/DoubleLine Strategic Opportunity Fund
- 1D
- -0.26%
- 1M
- -1.65%
- YTD
- 1.87%
- 6M
- 2.85%
- 1Y
- 3.41%
- 3Y*
- 11.86%
- 5Y*
- 0.33%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.13%
- 1M
- 5.25%
- YTD
- 11.16%
- 6M
- 11.43%
- 1Y
- 28.20%
- 3Y*
- 21.12%
- 5Y*
- 12.66%
- 10Y*
- 13.75%
OPP Monthly Returns History
Based on dividend-adjusted daily data since Sep 28, 2016, OPP's average daily return is +0.02%, while the average monthly return is +0.32%. At this rate, an investment would double in approximately 18.1 years.
Historically, 56% of months were positive and 44% were negative. The best month was Nov 2023 with a return of +9.5%, while the worst month was Mar 2020 at -19.9%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 7 months.
On a daily basis, OPP closed higher 50% of trading days. The best single day was Mar 19, 2020 with a return of +9.8%, while the worst single day was Mar 18, 2020 at -15.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.14% | 1.54% | -1.75% | 3.81% | -1.52% | -0.26% | 1.87% | ||||||
| 2025 | 3.58% | 3.24% | -0.52% | -1.42% | 2.71% | 1.85% | 1.60% | 2.40% | -0.88% | -3.60% | -0.05% | 0.21% | 9.21% |
| 2024 | 2.04% | -1.07% | 5.86% | -3.03% | 4.12% | 2.95% | 3.50% | 2.15% | 2.62% | -3.17% | 0.52% | -1.08% | 16.04% |
| 2023 | 6.73% | -3.91% | -0.40% | -0.67% | -1.41% | 5.66% | 2.40% | -0.68% | -5.57% | -4.55% | 9.47% | 5.12% | 11.50% |
| 2022 | -0.76% | -2.70% | -6.13% | -6.45% | -1.89% | -0.93% | 5.69% | -6.26% | -11.19% | -0.46% | 5.92% | -6.12% | -28.22% |
| 2021 | 2.02% | 3.10% | 3.52% | 2.52% | 2.55% | 1.20% | 3.71% | -0.15% | -6.93% | 3.16% | 1.91% | -4.34% | 12.29% |
Benchmark Metrics
RiverNorth/DoubleLine Strategic Opportunity Fund has an annualized alpha of -0.98%, beta of 0.36, and R2 of 0.17 versus S&P 500 Index. Calculated based on daily prices since September 29, 2016.
- This fund participated in 60.62% of S&P 500 Index downside but only 35.46% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.36 may look defensive, but with R2 of 0.17 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.17 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -0.98%
- Beta
- 0.36
- R²
- 0.17
- Upside Capture
- 35.46%
- Downside Capture
- 60.62%
Return for Risk
Risk / Return Rank
OPP ranks 5 for risk / return — in the bottom 5% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for RiverNorth/DoubleLine Strategic Opportunity Fund (OPP) and compare them to S&P 500 Index.
| OPP | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.41 | 2.39 | -1.97 |
Sortino ratioReturn per unit of downside risk | 0.60 | 3.25 | -2.66 |
Omega ratioGain probability vs. loss probability | 1.08 | 1.43 | -0.35 |
Calmar ratioReturn relative to maximum drawdown | 0.45 | 3.11 | -2.66 |
Martin ratioReturn relative to average drawdown | 0.82 | 14.38 | -13.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
RiverNorth/DoubleLine Strategic Opportunity Fund provided a 14.66% dividend yield over the last twelve months, with an annual payout of $1.12 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.12 | $1.14 | $1.19 | $1.21 | $1.75 | $1.88 | $2.13 | $2.17 | $1.78 | $1.49 | $0.22 |
Dividend yield | 14.66% | 14.34% | 14.29% | 14.66% | 20.43% | 13.40% | 15.08% | 13.39% | 11.08% | 8.22% | 1.19% |
Monthly Dividends
The table displays the monthly dividend distributions for RiverNorth/DoubleLine Strategic Opportunity Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.00 | $0.46 | ||||||
| 2025 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $1.14 |
| 2024 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $1.19 |
| 2023 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $1.21 |
| 2022 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $1.75 |
| 2021 | $0.16 | $0.16 | $0.16 | $0.16 | $0.16 | $0.16 | $0.16 | $0.16 | $0.16 | $0.16 | $0.16 | $0.16 | $1.88 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the RiverNorth/DoubleLine Strategic Opportunity Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the RiverNorth/DoubleLine Strategic Opportunity Fund was 37.47%, occurring on Oct 26, 2023. The portfolio has not yet recovered.
The current RiverNorth/DoubleLine Strategic Opportunity Fund drawdown is 5.33%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 bear market2023 | -37.47%Oct 2023 | 2y 2mo | — | 4y 9moAug 2021 - now |
COVID crash2020 | -35.00%Mar 2020 | 27d | 10mo 22d | 11mo 19dFeb 2020 - Feb 2021 |
Rate-hike selloffLate 2018 | -12.91%Dec 2018 | 1y 2mo | 3mo 12d | 1y 5moOct 2017 - Apr 2019 |
2016 pullback2016 | -8.96%Nov 2016 | 1mo 18d | 6mo 10d | 7mo 28dOct 2016 - May 2017 |
2019 pullback2019 | -6.96%Dec 2019 | 2mo 9d | 1mo 19d | 3mo 28dOct 2019 - Feb 2020 |
Drawdown Indicators
| OPP | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.47% | -56.78% | +19.31% |
Max Drawdown (1Y)Largest decline over 1 year | -7.58% | -9.10% | +1.52% |
Max Drawdown (3Y)Largest decline over 3 years | -13.27% | -18.90% | +5.63% |
Max Drawdown (5Y)Largest decline over 5 years | -37.47% | -25.43% | -12.04% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -5.33% | 0.00% | -5.33% |
Average DrawdownAverage peak-to-trough decline | -11.13% | -10.72% | -0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.17% | 1.97% | +2.20% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with OPP
Add RiverNorth/DoubleLine Strategic Opportunity Fund to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with OPP