RNHIX vs. RNSIX

Last updated Aug 1, 2026

RNHIX (RiverNorth/Oaktree High Income Fund) and RNSIX (RiverNorth Doubleline Strategic Income Fund) are both mutual funds - RNHIX is a High Yield Bonds fund managed by RiverNorth, while RNSIX is a Multisector Bonds fund managed by RiverNorth. Over the past 10 years, RNHIX returned 4.51%/yr vs 3.53%/yr for RNSIX. Their 0.55 correlation means they have sometimes moved together and sometimes differently. RNHIX charges 1.81%/yr vs 0.87%/yr for RNSIX.

Performance

RNHIX vs. RNSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in RiverNorth/Oaktree High Income Fund (RNHIX) and RiverNorth Doubleline Strategic Income Fund (RNSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RNHIX achieves a 1.11% return, which is significantly higher than RNSIX's 0.47% return. Over the past 10 years, RNHIX has outperformed RNSIX with an annualized return of 4.51%, while RNSIX has yielded a comparatively lower 3.53% annualized return.

RNHIX

• 1D: 0.02%
• 1M: -0.33%
• 6M: 0.85%
• YTD: 1.11%
• 1Y: 3.99%
• 3Y*: 7.03%
• 5Y*: 4.27%
• 10Y*: 4.51%
• ALL TIME*: 4.25%

RNSIX

• 1D: 0.08%
• 1M: -0.62%
• 6M: 0.04%
• YTD: 0.47%
• 1Y: 3.24%
• 3Y*: 6.63%
• 5Y*: 2.04%
• 10Y*: 3.53%
• ALL TIME*: 4.75%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RNHIX RiverNorth/Oaktree High Income Fund	$0.00	$0.00	$0.00
RNSIX RiverNorth Doubleline Strategic Income Fund	$0.00	$0.00	$0.00

RNHIX vs. RNSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RNHIX RiverNorth/Oaktree High Income Fund	1.11%	6.93%	7.40%	12.31%	-6.60%	3.97%	2.90%	11.17%	-2.22%	5.48%
RNSIX RiverNorth Doubleline Strategic Income Fund	0.47%	7.59%	7.29%	9.18%	-12.68%	3.66%	6.03%	11.96%	-1.28%	4.23%

Correlation

The correlation between RNHIX and RNSIX is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.59
Correlation (3Y) Balances recent behavior with more history.	0.58
Correlation (5Y) Shows whether the relationship held over a longer period.	0.59
Correlation (10Y) Provides a long-term view across more market conditions.	0.55
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.55

The correlation between RNHIX and RNSIX has been stable across timeframes, ranging from 0.55 to 0.59 - a consistent structural relationship.

Return for Risk

RNHIX vs. RNSIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RNHIX

RNHIX Risk / Return Rank: 50
RNHIX Sharpe Ratio Rank: 50
RNHIX Sortino Ratio Rank: 58
RNHIX Omega Ratio Rank: 59
RNHIX Calmar Ratio Rank: 35
RNHIX Martin Ratio Rank: 48

RNSIX

RNSIX Risk / Return Rank: 53
RNSIX Sharpe Ratio Rank: 54
RNSIX Sortino Ratio Rank: 58
RNSIX Omega Ratio Rank: 55
RNSIX Calmar Ratio Rank: 51
RNSIX Martin Ratio Rank: 45

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RNHIX vs. RNSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RiverNorth/Oaktree High Income Fund (RNHIX) and RiverNorth Doubleline Strategic Income Fund (RNSIX). 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.

	RNHIX	RNSIX	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.43	-0.04
Sortino ratio: Return per unit of downside risk	2.15	2.12	+0.03
Omega ratio: Gain probability vs. loss probability	1.28	1.27	+0.01
Calmar ratio: Return relative to maximum drawdown	1.56	1.93	-0.37
Martin ratio: Return relative to average drawdown	6.93	6.54	+0.39

RNHIX vs. RNSIX - Sharpe Ratio Comparison

The current RNHIX Sharpe Ratio is 1.40, which is comparable to the RNSIX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of RNHIX and RNSIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RNHIX vs. RNSIX - Drawdown Comparison

The maximum RNHIX drawdown since its inception was -22.43%, which is greater than RNSIX's maximum drawdown of -16.08%. Use the drawdown chart below to compare losses from any high point for RNHIX and RNSIX.

Drawdown Indicators

	RNHIX	RNSIX	Difference
Max Drawdown Largest peak-to-trough decline	-22.43%	-16.08%	-6.35%
Max Drawdown (1Y) Largest decline over 1 year	-2.49%	-2.05%	-0.44%
Max Drawdown (3Y) Largest decline over 3 years	-3.61%	-4.78%	+1.17%
Max Drawdown (5Y) Largest decline over 5 years	-10.62%	-16.08%	+5.46%
Max Drawdown (10Y) Largest decline over 10 years	-22.43%	-16.08%	-6.35%
Current Drawdown Current decline from peak	-0.45%	-0.73%	+0.28%
Average Drawdown Average peak-to-trough decline	-1.54%	-2.06%	+0.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.56%	0.60%	-0.04%

Volatility

RNHIX vs. RNSIX - Volatility Comparison

The current volatility for RiverNorth/Oaktree High Income Fund (RNHIX) is 0.59%, while RiverNorth Doubleline Strategic Income Fund (RNSIX) has a volatility of 0.74%. This indicates that RNHIX experiences smaller price fluctuations and is considered to be less risky than RNSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RNHIX	RNSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.59%	0.74%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	2.33%	2.18%	+0.15%
Volatility (1Y) Calculated over the trailing 1-year period	2.78%	2.77%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.71%	4.46%	-0.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.81%	4.49%	+0.32%

RNHIX vs. RNSIX - Expense Ratio Comparison

RNHIX has a 1.81% expense ratio, which is higher than RNSIX's 0.87% expense ratio.

Dividends

RNHIX vs. RNSIX - Dividend Comparison

RNHIX's dividend yield for the trailing twelve months is around 7.45%, more than RNSIX's 6.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RNHIX RiverNorth/Oaktree High Income Fund	7.45%	7.30%	6.92%	6.04%	6.49%	3.58%	3.81%	5.08%	4.79%	3.79%	4.93%	5.92%
RNSIX RiverNorth Doubleline Strategic Income Fund	6.70%	6.52%	6.37%	5.13%	8.40%	4.20%	4.34%	5.17%	5.45%	5.08%	5.22%	5.83%

Frequently Asked Questions

Can I hold both RNHIX and RNSIX in my portfolio?

RNHIX and RNSIX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RNHIX or RNSIX?

RNSIX has higher volatility (0.74%) compared to RNHIX (0.59%). In terms of maximum drawdown, RNHIX dropped -22.43% vs RNSIX's -16.08%.

Which has better risk-adjusted returns?

RNSIX currently has the higher Sharpe Ratio (1.43 vs 1.40), 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.