INCM vs RIV
Franklin Income Focus ETF vs RiverNorth Opportunities Fund Inc.
Which is better, INCM or RIV?
INCM has been ahead.
INCM has a lower expense ratio. INCM led over 1Y, 3Y and the full window.
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 | INCM | RIV |
|---|---|---|
| Expense Ratio | 0.38%Best | 5.11% |
| AUM | $1.9B | $350M |
| Dividend Yield | 5.40% | 13.60% |
| Holdings | 396 | 442 |
| YTD Return | +6.40%Best | -4.80% |
| 1Y Return | +9.34%Best | -3.05% |
| 3Y Return (annualized) | +11.90%Best | +11.85% |
| 5Y Return (annualized) | - | +1.95% |
| Volatility (annualized) | 7.3%Best | 14.3% |
| Max Drawdown | -7.8%Best | -16.5% |
| $10,000 over 3.4 years | $13,759Best | $13,392 |
| Fund Family | Franklin Templeton Investments (US) | RiverNorth |
| Category | Allocation/Balanced | Allocation/Balanced |
| Style | Allocation/Balanced | Allocation/Balanced |
| Inception | Jun 6, 2023 | Dec 23, 2015 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.4 years row, are measured over the window both funds cover: Jun 8, 2023 to Oct 14, 2026 (3.4 years).
INCM vs RIV 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 3.4 years both funds cover.
INCM vs RIV Performance
Franklin Income Focus ETF (INCM) is an ETF from Franklin Templeton Investments (US) and RiverNorth Opportunities Fund Inc. (RIV) is an ETF from RiverNorth. Over the past year INCM returned +9.34% while RIV returned -3.05%. Year to date, INCM is up 6.40% versus a loss of 4.80% for RIV.
Over three years, INCM compounded at +11.90% per year against +11.85% for RIV.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RIV has been the more volatile fund, with annualized monthly volatility of 14.3% compared with 7.3% for INCM. 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 -7.8% for INCM and -16.5% for RIV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
INCM charges 0.38% per year while RIV charges 5.11%. On a $10,000 position that is $38 vs $511 annually, a gap of $473 per year that compounds over a long holding period. On income, INCM currently yields 5.40% against 13.60% for RIV.
Holdings Overlap
We hold position weights for 266 holdings in INCM and 259 in RIV, totalling 57.7% and 126.1% 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 274 days apart, INCM as of Oct 1, 2026 and RIV as of Dec 31, 2025, 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 266 positions we hold weights for in INCM and 259 in RIV, against full books of 396 and 442.
You are not choosing between two funds in isolation.
Whichever of INCM and RIV 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, INCM or RIV?
INCM has an expense ratio of 0.38% while RIV charges 5.11%. INCM is the cheaper option, by $473 a year on a $10,000 investment.
Which performed better, INCM or RIV?
Over the past year INCM returned +9.34% vs -3.05% for RIV, so INCM leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, INCM or RIV?
RIV has been the more volatile fund at 14.3% annualized versus 7.3% for INCM. Worst drawdown: INCM -7.8% vs RIV -16.5%.
Should I hold both INCM and RIV?
INCM and RIV have a monthly-return correlation of 0.77, 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, INCM or RIV?
INCM yields 5.40% while RIV yields 13.60%, so RIV currently pays the higher dividend yield.
Is RIV better than INCM?
INCM has a lower expense ratio. INCM led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.