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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in RiverNorth Opportunistic Municipal Income Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
RiverNorth Opportunistic Municipal Income Fund (RMI) has returned 7.10% so far this year and 8.91% over the past 12 months.
RiverNorth Opportunistic Municipal Income Fund
- 1D
- 1.48%
- 1M
- -5.16%
- YTD
- 7.10%
- 6M
- 6.88%
- 1Y
- 8.91%
- 3Y*
- 3.97%
- 5Y*
- 0.35%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Oct 26, 2018, RMI's average daily return is +0.02%, while the average monthly return is +0.38%. At this rate, your investment would double in approximately 15.2 years.
Historically, 59% of months were positive and 41% were negative. The best month was Nov 2022 with a return of +18.9%, while the worst month was Sep 2023 at -9.6%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 4 months.
On a daily basis, RMI closed higher 50% of trading days. The best single day was Mar 26, 2020 with a return of +9.9%, while the worst single day was Mar 18, 2020 at -6.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.69% | 7.88% | -5.16% | 7.10% | |||||||||
| 2025 | 4.59% | 1.31% | -4.71% | -3.37% | 2.42% | -1.59% | -1.42% | 0.32% | 5.79% | 1.26% | 0.92% | -2.35% | 2.67% |
| 2024 | 5.10% | 1.75% | 0.65% | -3.82% | 2.57% | 2.02% | 1.55% | -0.53% | 3.45% | -2.12% | 1.55% | -5.54% | 6.30% |
| 2023 | 10.72% | -6.55% | 0.71% | 1.10% | -6.50% | 5.24% | 2.26% | -3.32% | -9.64% | -4.15% | 12.35% | 0.47% | 0.19% |
| 2022 | -8.40% | -3.14% | -4.79% | -8.12% | 4.45% | 0.10% | 4.28% | -4.59% | -8.79% | -5.32% | 18.94% | -5.14% | -21.34% |
| 2021 | 1.59% | -2.03% | 4.12% | 2.06% | 3.01% | 1.47% | 2.32% | -0.33% | -0.94% | -4.68% | 3.70% | 4.05% | 14.86% |
Benchmark Metrics
RiverNorth Opportunistic Municipal Income Fund has an annualized alpha of 1.30%, beta of 0.23, and R² of 0.08 versus S&P 500 Index. Calculated based on daily prices since October 29, 2018.
- This fund participated in 69.92% of S&P 500 Index downside but only 43.66% of its upside — more exposed to losses than it benefited from rallies.
- Beta of 0.23 may look defensive, but with R² of 0.08 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 0.08 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
- 1.30%
- Beta
- 0.23
- R²
- 0.08
- Upside Capture
- 43.66%
- Downside Capture
- 69.92%
Expense Ratio
RMI has a high expense ratio of 4.92%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
RMI ranks 32 for risk / return — below 32% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for RiverNorth Opportunistic Municipal Income Fund (RMI) and compare them to a chosen benchmark (S&P 500 Index).
| RMI | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.80 | 0.90 | -0.10 |
Sortino ratioReturn per unit of downside risk | 1.16 | 1.39 | -0.23 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.21 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.11 | 1.40 | -0.29 |
Martin ratioReturn relative to average drawdown | 2.83 | 6.61 | -3.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore RMI risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
RiverNorth Opportunistic Municipal Income Fund provided a 7.42% 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 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.12 | $1.13 | $1.16 | $1.17 | $1.25 | $2.29 | $1.30 | $1.10 | $0.09 |
Dividend yield | 7.42% | 7.92% | 7.69% | 7.67% | 7.63% | 10.25% | 6.03% | 4.85% | 0.46% |
Monthly Dividends
The table displays the monthly dividend distributions for RiverNorth Opportunistic Municipal Income 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 | $0.27 | |||||||||
| 2025 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $1.13 |
| 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 | $1.16 |
| 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 | $1.17 |
| 2022 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $1.25 |
| 2021 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $1.28 | $2.29 |
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the RiverNorth Opportunistic Municipal Income 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 Opportunistic Municipal Income Fund was 32.73%, occurring on Oct 27, 2023. The portfolio has not yet recovered.
The current RiverNorth Opportunistic Municipal Income Fund drawdown is 8.00%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -32.73% | Aug 5, 2021 | 562 | Oct 27, 2023 | — | — | — |
| -28.65% | Feb 13, 2020 | 27 | Mar 23, 2020 | 224 | Feb 10, 2021 | 251 |
| -5.88% | Nov 12, 2018 | 32 | Dec 28, 2018 | 70 | Apr 10, 2019 | 102 |
| -5.08% | Sep 6, 2019 | 9 | Sep 18, 2019 | 70 | Dec 27, 2019 | 79 |
| -4.87% | Feb 11, 2021 | 8 | Feb 23, 2021 | 25 | Mar 30, 2021 | 33 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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