RIV vs. QEVOX
RIV (RiverNorth Opportunities Fund) and QEVOX (Quantified Evolution Plus Fund) are both Tactical Allocation funds. Over the past 5 years, RIV returned 5.45%/yr vs 9.74%/yr for QEVOX. At a 0.13 correlation, their price movements are largely independent. RIV charges 2.07%/yr vs 1.56%/yr for QEVOX.
Performance
RIV vs. QEVOX - Performance Comparison
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Returns By Period
In the year-to-date period, RIV achieves a 4.32% return, which is significantly lower than QEVOX's 55.72% return.
RIV
- 1D
- -1.03%
- 1M
- -0.08%
- YTD
- 4.32%
- 6M
- 5.82%
- 1Y
- 12.21%
- 3Y*
- 16.35%
- 5Y*
- 5.45%
- 10Y*
- 8.90%
QEVOX
- 1D
- 0.64%
- 1M
- -4.72%
- YTD
- 55.72%
- 6M
- 61.52%
- 1Y
- 80.19%
- 3Y*
- 23.75%
- 5Y*
- 9.74%
- 10Y*
- —
RIV vs. QEVOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
RIV RiverNorth Opportunities Fund | 4.32% | 19.69% | 18.72% | 2.57% | -11.30% | 12.94% | 14.09% | 0.83% |
QEVOX Quantified Evolution Plus Fund | 55.72% | 8.67% | 14.79% | 1.22% | -24.02% | 14.49% | -1.82% | -1.96% |
Correlation
The correlation between RIV and QEVOX is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2019 | 0.13 |
The correlation between RIV and QEVOX shifts across timeframes, from 0.09 (1 year) to 0.20 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
RIV vs. QEVOX — Risk / Return Rank
RIV
QEVOX
RIV vs. QEVOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RiverNorth Opportunities Fund (RIV) and Quantified Evolution Plus Fund (QEVOX). 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.
| RIV | QEVOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.93 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.56 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 6.35 | -4.75 |
| Martin ratioReturn relative to average drawdown | 4.69 | 24.92 | -20.23 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RIV | QEVOX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 3.25 | -2.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.49 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.36 | +0.06 |
Drawdowns
RIV vs. QEVOX - Drawdown Comparison
The maximum RIV drawdown since its inception was -42.99%, which is greater than QEVOX's maximum drawdown of -28.47%. Use the drawdown chart below to compare losses from any high point for RIV and QEVOX.
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Drawdown Indicators
| RIV | QEVOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.99% | -28.47% | -14.52% |
Max Drawdown (1Y)Largest decline over 1 year | -7.64% | -12.69% | +5.05% |
Max Drawdown (3Y)Largest decline over 3 years | -15.18% | -21.21% | +6.03% |
Max Drawdown (5Y)Largest decline over 5 years | -29.13% | -27.40% | -1.73% |
Max Drawdown (10Y)Largest decline over 10 years | -42.99% | — | — |
Current DrawdownCurrent decline from peak | -1.70% | -8.75% | +7.05% |
Average DrawdownAverage peak-to-trough decline | -7.37% | -13.87% | +6.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 3.23% | -0.62% |
Volatility
RIV vs. QEVOX - Volatility Comparison
The current volatility for RiverNorth Opportunities Fund (RIV) is 3.21%, while Quantified Evolution Plus Fund (QEVOX) has a volatility of 6.32%. This indicates that RIV experiences smaller price fluctuations and is considered to be less risky than QEVOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RIV | QEVOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.21% | 6.32% | -3.11% |
Volatility (6M)Calculated over the trailing 6-month period | 7.30% | 21.58% | -14.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.08% | 24.81% | -14.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.74% | 20.01% | -3.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.23% | 21.72% | -1.49% |
RIV vs. QEVOX - Expense Ratio Comparison
RIV has a 2.07% expense ratio, which is higher than QEVOX's 1.56% expense ratio.
Dividends
RIV vs. QEVOX - Dividend Comparison
RIV's dividend yield for the trailing twelve months is around 13.26%, less than QEVOX's 42.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
QEVOX Quantified Evolution Plus Fund | 42.60% | 66.34% | 10.32% | 24.53% | 0.07% | 13.55% | 2.29% | 0.15% | 0.00% | 0.00% | 0.00% |
RIV RiverNorth Opportunities Fund | 13.26% | 12.80% | 13.46% | 13.95% | 16.61% | 14.31% | 13.42% | 12.34% | 15.51% | 10.14% | 13.01% |
Frequently Asked Questions
RIV and QEVOX have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QEVOX has higher volatility (6.32%) compared to RIV (3.21%). In terms of maximum drawdown, RIV dropped -42.99% vs QEVOX's -28.47%.
QEVOX currently has the higher Sharpe Ratio (3.25 vs 1.22), 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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