RSF vs. HIO

Last updated Apr 1, 2026

Compare and contrast key facts about RiverNorth Capital and Income Fund (RSF) and Western Asset High Income Opportunity Fund Inc (HIO).

RSF is managed by RiverNorth. HIO is managed by Franklin Templeton. It was launched on Jan 1, 2009.

Performance

RSF vs. HIO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in RiverNorth Capital and Income Fund (RSF) and Western Asset High Income Opportunity Fund Inc (HIO). The values are adjusted to include any dividend payments, if applicable.

RSF vs. HIO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RSF RiverNorth Capital and Income Fund	4.23%	4.62%	9.26%	9.03%	-1.62%	27.59%	3.10%	-12.10%	-1.41%	5.37%
HIO Western Asset High Income Opportunity Fund Inc	0.68%	5.33%	13.58%	8.07%	-17.09%	12.80%	6.07%	24.23%	-7.60%	8.97%

Returns By Period

In the year-to-date period, RSF achieves a 4.23% return, which is significantly higher than HIO's 0.68% return.

RSF

• 1D: 0.48%
• 1M: 2.27%
• YTD: 4.23%
• 6M: 4.54%
• 1Y: 7.78%
• 3Y*: 9.74%
• 5Y*: 8.04%
• 10Y*: —

HIO

• 1D: 2.83%
• 1M: -2.24%
• YTD: 0.68%
• 6M: 0.05%
• 1Y: 1.96%
• 3Y*: 9.66%
• 5Y*: 3.20%
• 10Y*: 6.25%

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

RSF vs. HIO - Expense Ratio Comparison

RSF has a 6.38% expense ratio, which is higher than HIO's 0.02% expense ratio.

RSF

RiverNorth Capital and Income Fund

HIO

Western Asset High Income Opportunity Fund Inc

Return for Risk

RSF vs. HIO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RSF

RSF Risk / Return Rank: 49
RSF Sharpe Ratio Rank: 39
RSF Sortino Ratio Rank: 39
RSF Omega Ratio Rank: 46
RSF Calmar Ratio Rank: 78
RSF Martin Ratio Rank: 42

HIO

HIO Risk / Return Rank: 7
HIO Sharpe Ratio Rank: 7
HIO Sortino Ratio Rank: 7
HIO Omega Ratio Rank: 7
HIO Calmar Ratio Rank: 8
HIO Martin Ratio Rank: 8

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.

RSF vs. HIO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RiverNorth Capital and Income Fund (RSF) and Western Asset High Income Opportunity Fund Inc (HIO). 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.

	RSF	HIO	Difference
Sharpe ratio Return per unit of total volatility	0.86	0.14	+0.72
Sortino ratio Return per unit of downside risk	1.28	0.28	+1.01
Omega ratio Gain probability vs. loss probability	1.20	1.04	+0.16
Calmar ratio Return relative to maximum drawdown	1.87	0.11	+1.76
Martin ratio Return relative to average drawdown	4.42	0.35	+4.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RSF vs. HIO - Sharpe Ratio Comparison

The current RSF Sharpe Ratio is 0.86, which is higher than the HIO Sharpe Ratio of 0.14. The chart below compares the historical Sharpe Ratios of RSF and HIO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	RSF	HIO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	0.14	+0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.25	+0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.34	+0.09

Correlation

The correlation between RSF and HIO is 0.16, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

RSF vs. HIO - Dividend Comparison

RSF's dividend yield for the trailing twelve months is around 11.21%, less than HIO's 11.74% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RSF RiverNorth Capital and Income Fund	11.21%	11.30%	10.87%	10.85%	11.78%	9.52%	11.76%	6.92%	8.21%	9.22%	1.41%	0.00%
HIO Western Asset High Income Opportunity Fund Inc	11.74%	11.48%	10.84%	9.90%	9.11%	7.02%	7.86%	6.91%	7.31%	7.04%	8.44%	9.08%

Drawdowns

RSF vs. HIO - Drawdown Comparison

The maximum RSF drawdown since its inception was -30.61%, smaller than the maximum HIO drawdown of -49.69%. Use the drawdown chart below to compare losses from any high point for RSF and HIO.

Drawdown Indicators

	RSF	HIO	Difference
Max Drawdown Largest peak-to-trough decline	-30.61%	-49.69%	+19.08%
Max Drawdown (1Y) Largest decline over 1 year	-4.23%	-11.25%	+7.02%
Max Drawdown (5Y) Largest decline over 5 years	-10.02%	-26.18%	+16.16%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.57%	—
Current Drawdown Current decline from peak	-3.45%	-4.05%	+0.60%
Average Drawdown Average peak-to-trough decline	-4.63%	-6.48%	+1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	3.44%	-1.65%

Volatility

RSF vs. HIO - Volatility Comparison

RiverNorth Capital and Income Fund (RSF) has a higher volatility of 6.01% compared to Western Asset High Income Opportunity Fund Inc (HIO) at 4.99%. This indicates that RSF's price experiences larger fluctuations and is considered to be riskier than HIO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSF	HIO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.01%	4.99%	+1.02%
Volatility (6M) Calculated over the trailing 6-month period	7.30%	7.74%	-0.44%
Volatility (1Y) Calculated over the trailing 1-year period	9.07%	13.77%	-4.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.55%	12.75%	-2.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.32%	15.97%	-4.65%