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OPP vs. ABRZX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

OPP vs. ABRZX

Last updated Jun 24, 2026

OPP (RiverNorth/DoubleLine Strategic Opportunity Fund) and ABRZX (Invesco Balanced-Risk Allocation Fund Class A) are both Tactical Allocation funds. Both are actively managed. Over the past 5 years, OPP returned -0.21%/yr vs 3.97%/yr for ABRZX. At a 0.26 correlation, their price movements are largely independent.

Performance

OPP vs. ABRZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in RiverNorth/DoubleLine Strategic Opportunity Fund (OPP) and Invesco Balanced-Risk Allocation Fund Class A (ABRZX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, OPP achieves a 1.48% return, which is significantly lower than ABRZX's 17.65% return.

OPP

1D
0.27%
1M
-0.25%
YTD
1.48%
6M
3.30%
1Y
3.02%
3Y*
11.89%
5Y*
-0.21%
10Y*
—

ABRZX

1D
-0.41%
1M
-1.54%
YTD
17.65%
6M
17.36%
1Y
24.57%
3Y*
11.10%
5Y*
3.97%
10Y*
4.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

OPP vs. ABRZX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
OPP
RiverNorth/DoubleLine Strategic Opportunity Fund		1.48%9.21%16.04%11.50%-28.22%12.29%1.25%15.03%-1.94%7.97%
ABRZX
Invesco Balanced-Risk Allocation Fund Class A		17.65%8.20%3.14%5.97%-14.96%9.36%9.20%9.43%-7.01%9.80%

Correlation

The correlation between OPP and ABRZX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.22

Correlation (3Y)
Calculated over the trailing 3-year period

0.28

Correlation (5Y)
Calculated over the trailing 5-year period

0.30

Correlation (All Time)
Calculated using the full available price history since Sep 28, 2016

0.26

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

RiverNorth/DoubleLine Strategic Opportunity Fund

Invesco Balanced-Risk Allocation Fund Class A

Often compared with OPP:
OPP vs. ABRYXOPP vs. ASTIXOPP vs. GIPIXOPP vs. GOIIXOPP vs. GPIFXOPP vs. MOJOXOPP vs. QDSNX
Often compared with ABRZX:
ABRZX vs. HFSAXABRZX vs. TTIFXABRZX vs. GUGABRZX vs. MOJOXABRZX vs. SFHYXABRZX vs. PMYRXABRZX vs. GPIFX

Return for Risk

OPP vs. ABRZX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
OPP
OPP Risk / Return Rank: 55
Overall Rank
OPP Sharpe Ratio Rank: 55
Sharpe Ratio Rank
OPP Sortino Ratio Rank: 55
Sortino Ratio Rank
OPP Omega Ratio Rank: 55
Omega Ratio Rank
OPP Calmar Ratio Rank: 55
Calmar Ratio Rank
OPP Martin Ratio Rank: 55
Martin Ratio Rank
ABRZX
ABRZX Risk / Return Rank: 8888
Overall Rank
ABRZX Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
ABRZX Sortino Ratio Rank: 8080
Sortino Ratio Rank
ABRZX Omega Ratio Rank: 8383
Omega Ratio Rank
ABRZX Calmar Ratio Rank: 9696
Calmar Ratio Rank
ABRZX Martin Ratio Rank: 9494
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OPP vs. ABRZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RiverNorth/DoubleLine Strategic Opportunity Fund (OPP) and Invesco Balanced-Risk Allocation Fund Class A (ABRZX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

OPPABRZXDifference
Sharpe ratioReturn per unit of total volatility
0.36
2.65

-2.29

Sortino ratioReturn per unit of downside risk
0.52
3.50

-2.98

Omega ratioGain probability vs. loss probability

1.07

1.51

-0.44

Calmar ratioReturn relative to maximum drawdown

0.40

5.80

-5.40

Martin ratioReturn relative to average drawdown

0.71

18.85

-18.14

OPP vs. ABRZX - Sharpe Ratio Comparison

The current OPP Sharpe Ratio is 0.36, which is lower than the ABRZX Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of OPP and ABRZX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

OPP vs. ABRZX - Drawdown Comparison

The maximum OPP drawdown since its inception was -37.47%, which is greater than ABRZX's maximum drawdown of -26.62%. Use the drawdown chart below to compare losses from any high point for OPP and ABRZX.

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Drawdown Indicators

OPPABRZXDifference

Max Drawdown

Largest peak-to-trough decline

-37.47%

-26.62%

-10.85%

Max Drawdown (1Y)

Largest decline over 1 year

-7.58%

-4.25%

-3.33%

Max Drawdown (3Y)

Largest decline over 3 years

-13.27%

-18.28%

+5.01%

Max Drawdown (5Y)

Largest decline over 5 years

-37.47%

-19.33%

-18.14%

Max Drawdown (10Y)

Largest decline over 10 years

—

-26.62%

—

Current Drawdown

Current decline from peak

-5.69%

-2.93%

-2.76%

Average Drawdown

Average peak-to-trough decline

-11.10%

-4.74%

-6.36%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.27%

1.30%

+2.97%

Volatility

OPP vs. ABRZX - Volatility Comparison

The current volatility for RiverNorth/DoubleLine Strategic Opportunity Fund (OPP) is 2.26%, while Invesco Balanced-Risk Allocation Fund Class A (ABRZX) has a volatility of 3.04%. This indicates that OPP experiences smaller price fluctuations and is considered to be less risky than ABRZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

OPPABRZXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.26%

3.04%

-0.78%

Volatility (6M)

Calculated over the trailing 6-month period

5.98%

8.16%

-2.18%

Volatility (1Y)

Calculated over the trailing 1-year period

8.49%

9.31%

-0.82%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.36%

12.25%

+2.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.52%

10.93%

+4.59%

Dividends

OPP vs. ABRZX - Dividend Comparison

OPP's dividend yield for the trailing twelve months is around 14.84%, more than ABRZX's 2.87% yield.

PositionTTM20252024202320222021202020192018201720162015
ABRZX
Invesco Balanced-Risk Allocation Fund Class A		2.87%3.38%13.28%2.21%0.00%26.02%1.18%6.49%0.00%6.43%4.41%6.91%
OPP
RiverNorth/DoubleLine Strategic Opportunity Fund		14.84%14.34%14.29%14.66%20.43%13.40%15.08%13.39%11.08%8.22%1.19%0.00%

Frequently Asked Questions

OPP and ABRZX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ABRZX has higher volatility (3.04%) compared to OPP (2.26%). In terms of maximum drawdown, OPP dropped -37.47% vs ABRZX's -26.62%.

ABRZX currently has the higher Sharpe Ratio (2.65 vs 0.36), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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