- ISIN
- US76881N8065
- CUSIP
- 76881N806
- Issuer
- RiverNorth Funds
- Inception Date
- Dec 28, 2012
- Category
- High Yield Bonds
- Min. Investment
- $100,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
RNHIX Performance Chart
RiverNorth/Oaktree High Income Fund (RNHIX) is up 1.2% since the beginning of the year. RNHIX is currently trading at $9 per share. Investors who bought $1,000 worth of RNHIX shares 5 years ago would now be looking at an investment worth $1,239.
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Returns By Period
RiverNorth/Oaktree High Income Fund (RNHIX) has returned 1.19% so far this year and 5.46% over the past 12 months. Over the last ten years, RNHIX has returned 4.75% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
RiverNorth/Oaktree High Income Fund
- 1D
- 0.00%
- 1M
- 0.61%
- YTD
- 1.19%
- 6M
- 1.57%
- 1Y
- 5.46%
- 3Y*
- 7.59%
- 5Y*
- 4.38%
- 10Y*
- 4.75%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
RNHIX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 2013, RNHIX's average daily return is +0.02%, while the average monthly return is +0.36%. At this rate, an investment would double in approximately 16.1 years.
Historically, 67% of months were positive and 33% were negative. The best month was Apr 2020 with a return of +4.2%, while the worst month was Mar 2020 at -11.9%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 6 months.
On a daily basis, RNHIX closed higher 42% of trading days. The best single day was Mar 26, 2020 with a return of +3.4%, while the worst single day was Mar 18, 2020 at -6.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.26% | 0.15% | -1.36% | 1.67% | 0.49% | 0.00% | 1.19% | ||||||
| 2025 | 0.95% | 0.61% | -1.10% | 0.03% | 1.42% | 1.53% | 0.61% | 0.95% | 0.61% | 0.15% | 0.38% | 0.61% | 6.93% |
| 2024 | 0.27% | 0.47% | 0.84% | -0.65% | 0.96% | 0.72% | 1.65% | 1.41% | 0.95% | -0.18% | 0.95% | -0.19% | 7.40% |
| 2023 | 4.07% | -1.09% | 0.22% | 0.97% | -0.67% | 1.45% | 1.34% | 0.32% | -0.68% | -0.61% | 3.48% | 3.04% | 12.31% |
| 2022 | -1.42% | -0.93% | -0.27% | -2.15% | -0.60% | -5.24% | 4.02% | -0.72% | -3.59% | 2.58% | 2.57% | -0.69% | -6.60% |
| 2021 | 0.39% | 0.49% | 0.06% | 0.69% | 0.21% | 0.75% | 0.11% | 0.38% | 0.28% | -0.19% | -0.55% | 1.29% | 3.97% |
Benchmark Metrics
RiverNorth/Oaktree High Income Fund has an annualized alpha of 2.17%, beta of 0.16, and R2 of 0.35 versus S&P 500 Index. Calculated based on daily prices since January 02, 2013.
- This fund participated in 31.53% of S&P 500 Index downside but only 26.43% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.16 may look defensive, but with R2 of 0.35 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 0.35 means the benchmark explains less than half of this fund's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 2.17%
- Beta
- 0.16
- R²
- 0.35
- Upside Capture
- 26.43%
- Downside Capture
- 31.53%
Expense Ratio
RNHIX has a high expense ratio of 1.81%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
RNHIX ranks 55 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for RiverNorth/Oaktree High Income Fund (RNHIX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| RNHIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.37 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | 2.78 | -0.59 |
| Martin ratioReturn relative to average drawdown | 9.90 | 12.44 | -2.53 |
Dividends
Dividend History
RiverNorth/Oaktree High Income Fund provided a 7.39% dividend yield over the last twelve months, with an annual payout of $0.64 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.64 | $0.64 | $0.61 | $0.53 | $0.54 | $0.34 | $0.36 | $0.49 | $0.43 | $0.37 | $0.47 | $0.53 |
Dividend yield | 7.39% | 7.30% | 6.92% | 6.04% | 6.49% | 3.58% | 3.81% | 5.08% | 4.79% | 3.79% | 4.93% | 5.92% |
Monthly Dividends
The table displays the monthly dividend distributions for RiverNorth/Oaktree High 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 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.00 | $0.26 | ||||||
| 2025 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.64 |
| 2024 | $0.03 | $0.04 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.61 |
| 2023 | $0.04 | $0.04 | $0.05 | $0.04 | $0.04 | $0.04 | $0.05 | $0.04 | $0.04 | $0.05 | $0.04 | $0.06 | $0.53 |
| 2022 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.22 | $0.03 | $0.04 | $0.54 |
| 2021 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.34 |
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/Oaktree High 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/Oaktree High Income Fund was 22.43%, occurring on Mar 23, 2020. Recovery took 172 trading sessions.
The current RiverNorth/Oaktree High Income Fund drawdown is 0.23%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -22.43%Mar 2020 | 28d | 8mo 6d | 9mo 4dFeb 2020 - Nov 2020 |
Bear market2022 | -10.62%Sep 2022 | 8mo 27d | 1y 1mo | 1y 10moJan 2022 - Nov 2023 |
2016 pullback2016 | -9.81%Feb 2016 | 9mo 18d | 3mo 27d | 1y 1moApr 2015 - Jun 2016 |
2013 pullback2013 | -5.15%Jun 2013 | 1mo 12d | 4mo 1d | 5mo 13dMay 2013 - Oct 2013 |
Rate-hike selloffLate 2018 | -4.63%Dec 2018 | 2mo 18d | 1mo 26d | 4mo 14dOct 2018 - Feb 2019 |
Drawdown Indicators
| RNHIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.43% | -56.78% | +34.35% |
Max Drawdown (1Y)Largest decline over 1 year | -2.49% | -9.10% | +6.61% |
Max Drawdown (3Y)Largest decline over 3 years | -3.61% | -18.90% | +15.29% |
Max Drawdown (5Y)Largest decline over 5 years | -10.62% | -25.43% | +14.81% |
Max Drawdown (10Y)Largest decline over 10 years | -22.43% | -33.92% | +11.49% |
Current DrawdownCurrent decline from peak | -0.23% | -1.80% | +1.57% |
Average DrawdownAverage peak-to-trough decline | -1.55% | -10.71% | +9.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 2.03% | -1.48% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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