HISF vs OPP
First Trust High Income Strategic Focus ETF vs RiverNorth/DoubleLine Strategic Opportunity Fund Inc.
Which is better, HISF or OPP?
Each has led over a different period.
HISF has a lower expense ratio. HISF led over 1Y and the full window, OPP over 3Y.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | HISF | OPP |
|---|---|---|
| Expense Ratio | 0.83%Best | 5.40% |
| AUM | $98M | $204M |
| Dividend Yield | 5.30% | 14.01% |
| Holdings | 24 | 11,259 |
| YTD Return | -2.19%Best | -4.44% |
| 1Y Return | -1.77%Best | -6.20% |
| 3Y Return (annualized) | +4.90% | +9.33%Best |
| 5Y Return (annualized) | - | -1.90% |
| Volatility (annualized) | 5.6%Best | 13.7% |
| Max Drawdown | -10.4%Best | -29.3% |
| $10,000 over 4.6 years | $10,578Best | $9,588 |
| Fund Family | First Trust Portfolios (US) | RiverNorth |
| Category | Allocation/Balanced | Allocation/Balanced |
| Style | Debt-oriented balanced | Debt-oriented balanced |
| Inception | Aug 13, 2014 | Sep 27, 2016 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4.6 years row, are measured over the window both funds cover: Feb 28, 2022 to Oct 14, 2026 (4.6 years).
HISF vs OPP growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4.6 years both funds cover.
HISF vs OPP Performance
First Trust High Income Strategic Focus ETF (HISF) is an ETF from First Trust Portfolios (US) and RiverNorth/DoubleLine Strategic Opportunity Fund Inc. (OPP) is an ETF from RiverNorth. Over the past year HISF returned -1.77% while OPP returned -6.20%. Year to date, HISF is down 2.19% versus a loss of 4.44% for OPP.
Over three years, HISF compounded at +4.90% per year against +9.33% for OPP.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
OPP has been the more volatile fund, with annualized monthly volatility of 13.7% compared with 5.6% for HISF. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -10.4% for HISF and -29.3% for OPP. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HISF charges 0.83% per year while OPP charges 5.40%. On a $10,000 position that is $83 vs $540 annually, a gap of $457 per year that compounds over a long holding period. On income, HISF currently yields 5.30% against 14.01% for OPP.
Holdings Overlap
We hold position weights for 11 holdings in HISF and 51 in OPP, totalling 100.0% and 19.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 94 days apart, HISF as of Oct 2, 2026 and OPP as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 11 positions we hold weights for in HISF and 51 in OPP, against full books of 24 and 11,259.
You are not choosing between two funds in isolation.
Whichever of HISF and OPP you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HISF or OPP?
HISF has an expense ratio of 0.83% while OPP charges 5.40%. HISF is the cheaper option, by $457 a year on a $10,000 investment.
Which performed better, HISF or OPP?
Over the past year HISF returned -1.77% vs -6.20% for OPP, so HISF leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HISF or OPP?
OPP has been the more volatile fund at 13.7% annualized versus 5.6% for HISF. Worst drawdown: HISF -10.4% vs OPP -29.3%.
Should I hold both HISF and OPP?
HISF and OPP have a monthly-return correlation of 0.81, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, HISF or OPP?
HISF yields 5.30% while OPP yields 14.01%, so OPP currently pays the higher dividend yield.
Is OPP better than HISF?
HISF has a lower expense ratio. HISF led over 1Y and the full window, OPP over 3Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.