RSF vs. HYI
RSF (RiverNorth Capital and Income Fund) and HYI (Western Asset High Yield Opportunity Fund Inc) are both High Yield Bonds funds. Over the past 5 years, RSF returned 6.79%/yr vs 1.57%/yr for HYI. At a 0.13 correlation, their price movements are largely independent. RSF charges 6.38%/yr vs 0.01%/yr for HYI.
Performance
RSF vs. HYI - Performance Comparison
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Returns By Period
In the year-to-date period, RSF achieves a 7.24% return, which is significantly higher than HYI's -0.93% return.
RSF
- 1D
- -0.28%
- 1M
- 0.74%
- YTD
- 7.24%
- 6M
- 6.57%
- 1Y
- 11.28%
- 3Y*
- 9.79%
- 5Y*
- 6.79%
- 10Y*
- —
HYI
- 1D
- 0.24%
- 1M
- 0.43%
- YTD
- -0.93%
- 6M
- 0.33%
- 1Y
- -1.80%
- 3Y*
- 6.21%
- 5Y*
- 1.57%
- 10Y*
- 5.17%
RSF vs. HYI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RSF RiverNorth Capital and Income Fund | 7.24% | 4.62% | 9.26% | 9.03% | -1.62% | 27.59% | 3.10% | -12.10% | -1.41% | 5.37% |
HYI Western Asset High Yield Opportunity Fund Inc | -0.93% | 4.09% | 7.58% | 6.72% | -13.48% | 10.04% | 6.78% | 27.90% | -6.36% | 8.57% |
Correlation
The correlation between RSF and HYI is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2016 | 0.13 |
The correlation between RSF and HYI shifts across timeframes, from 0.04 (1 year) to 0.19 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
RSF vs. HYI — Risk / Return Rank
RSF
HYI
RSF vs. HYI - 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 Yield Opportunity Fund Inc (HYI). 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.
| RSF | HYI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.65 | ||
| Sortino ratioReturn per unit of downside risk | +2.45 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.96 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 2.89 | -0.22 | +3.11 |
| Martin ratioReturn relative to average drawdown | 8.89 | -0.42 | +9.31 |
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Drawdowns
RSF vs. HYI - Drawdown Comparison
The maximum RSF drawdown since its inception was -30.61%, smaller than the maximum HYI drawdown of -36.06%. Use the drawdown chart below to compare losses from any high point for RSF and HYI.
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Drawdown Indicators
| RSF | HYI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.61% | -36.06% | +5.45% |
Max Drawdown (1Y)Largest decline over 1 year | -3.92% | -8.19% | +4.27% |
Max Drawdown (3Y)Largest decline over 3 years | -6.15% | -8.19% | +2.04% |
Max Drawdown (5Y)Largest decline over 5 years | -10.02% | -26.35% | +16.33% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.06% | — |
Current DrawdownCurrent decline from peak | -0.66% | -5.43% | +4.77% |
Average DrawdownAverage peak-to-trough decline | -4.56% | -5.80% | +1.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.27% | 4.26% | -2.99% |
Volatility
RSF vs. HYI - Volatility Comparison
The current volatility for RiverNorth Capital and Income Fund (RSF) is 1.07%, while Western Asset High Yield Opportunity Fund Inc (HYI) has a volatility of 1.15%. This indicates that RSF experiences smaller price fluctuations and is considered to be less risky than HYI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RSF | HYI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 1.15% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 6.99% | 5.33% | +1.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.17% | 6.92% | +1.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.52% | 11.27% | -0.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.22% | 12.94% | -1.72% |
RSF vs. HYI - Expense Ratio Comparison
RSF has a 6.38% expense ratio, which is higher than HYI's 0.02% expense ratio.
Dividends
RSF vs. HYI - Dividend Comparison
RSF's dividend yield for the trailing twelve months is around 11.25%, more than HYI's 10.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYI Western Asset High Yield Opportunity Fund Inc | 10.87% | 10.22% | 9.64% | 9.40% | 9.09% | 7.19% | 7.35% | 6.87% | 8.10% | 7.81% | 8.73% | 9.36% |
RSF RiverNorth Capital and Income Fund | 11.25% | 11.30% | 10.87% | 10.85% | 11.78% | 9.52% | 11.76% | 6.92% | 8.21% | 9.22% | 1.41% | 0.00% |
Frequently Asked Questions
RSF and HYI have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYI has higher volatility (1.15%) compared to RSF (1.07%). In terms of maximum drawdown, RSF dropped -30.61% vs HYI's -36.06%.
RSF currently has the higher Sharpe Ratio (1.39 vs -0.26), 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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