RIV vs SPLS
RiverNorth Opportunities Fund Inc. vs PIMCO US Stocks PLUS Active Bond Exchange-Traded Fund
Which is better, RIV or SPLS?
SPLS has been ahead.
SPLS has a lower expense ratio. SPLS led over 1Y 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 | RIV | SPLS |
|---|---|---|
| Expense Ratio | 5.11% | 0.18%Best |
| AUM | $350M | $88M |
| Dividend Yield | 13.60% | 0.54% |
| Holdings | 442 | 3 |
| YTD Return | -4.80% | +10.71%Best |
| 1Y Return | -3.05% | +10.71%Best |
| 3Y Return (annualized) | +11.85% | - |
| 5Y Return (annualized) | +1.95% | - |
| Volatility (annualized) | 15.3%Best | 242.1% |
| Max Drawdown | -55.6% | -33.5%Best |
| $10,000 over 10.8 years | $10,474 | $62,312Best |
| Fund Family | RiverNorth | PIMCO (US) |
| Category | Allocation/Balanced | Allocation/Balanced |
| Style | Allocation/Balanced | Allocation/Balanced |
| Inception | Dec 23, 2015 | Jan 15, 2026 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 10.8 years row, are measured over the window both funds cover: Dec 24, 2015 to Oct 14, 2026 (10.8 years).
RIV vs SPLS 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
RIV vs SPLS Performance
RiverNorth Opportunities Fund Inc. (RIV) is an ETF from RiverNorth and PIMCO US Stocks PLUS Active Bond Exchange-Traded Fund (SPLS) is an ETF from PIMCO (US). Over the past year RIV returned -3.05% while SPLS returned +10.71%. Year to date, RIV is down 4.80% versus a gain of 10.71% for SPLS.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPLS has been the more volatile fund, with annualized monthly volatility of 242.1% compared with 15.3% for RIV. 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 -55.6% for RIV and -33.5% for SPLS. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.21. They move largely independently of each other.
Fees and Cost Over Time
RIV charges 5.11% per year while SPLS charges 0.18%. On a $10,000 position that is $511 vs $18 annually, a gap of $493 per year that compounds over a long holding period. On income, RIV currently yields 13.60% against 0.54% for SPLS.
Holdings Overlap
We hold position weights for 259 holdings in RIV and 3 in SPLS, totalling 126.1% and 98.3% 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 280 days apart, RIV as of Dec 31, 2025 and SPLS as of Oct 7, 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 259 positions we hold weights for in RIV and 3 in SPLS, against full books of 442 and 3.
You are not choosing between two funds in isolation.
Whichever of RIV and SPLS 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, RIV or SPLS?
RIV has an expense ratio of 5.11% while SPLS charges 0.18%. SPLS is the cheaper option, by $493 a year on a $10,000 investment.
Which performed better, RIV or SPLS?
Over the past year RIV returned -3.05% vs +10.71% for SPLS, so SPLS leads on 1-year performance. Over the longest common window we track (11 years), RIV annualized +0.43% vs +18.46% for SPLS. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, RIV or SPLS?
SPLS has been the more volatile fund at 242.1% annualized versus 15.3% for RIV. Worst drawdown: RIV -55.6% vs SPLS -33.5%.
Should I hold both RIV and SPLS?
RIV and SPLS have a monthly-return correlation of 0.21, 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, RIV or SPLS?
RIV yields 13.60% while SPLS yields 0.54%, so RIV currently pays the higher dividend yield.
Is SPLS better than RIV?
SPLS has a lower expense ratio. SPLS led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.