RIV CEF — RiverNorth Opportunities Fund

RiverNorth Opportunities Fund (RIV)

RIV is a CEF. its distribution rate is 14.78%, its trailing-12-month yield is 14.72%, its expense ratio is 3.72%. Dividend Vision Distribution Safety Score™ is 57/100 (Caution). Total return is 44.3% over the past 10.7 years, 302.9 points behind SPY at 347.2%.

At the current 14.78% distribution rate, a $10,000 investment would generate approximately $1,478 per year, or $123.17 per month.

RIV performance versus SPY

Price and return data through 2026-09-21.

Total return is 44.3% over the past 10.7 years, 302.9 points behind SPY at 347.2%. Over the past year its total return — price change plus distributions reinvested — is 1.3%. Its deepest 1-year drawdown was 8.6%.

RIV key facts

Distribution Safety Score™

57 · Caution

Safety-Adjusted Yield

8.42%

Issuer

RiverNorth

Asset type

CEF

Asset class

Multi-Asset

Inception date

12/23/2015

Expense ratio

3.72%

Distribution rate

14.78%

Distribution frequency

Monthly

Trailing yield

14.72%

5-year average yield

14.1

Last close

$10.62 (as of 2026-09-21)

NAV

$11.72

Premium / discount

9.39% discount

Market cap

$290,682,816

Average volume

85534.0

Next dividend

$0.1308

Next ex-dividend date

10/16/2026

Next payment date

10/30/2026

Beta

0.4082

How Dividend Vision calculates yield and returns

Distribution rate (14.78%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (14.72%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: RiverNorth or company page; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

RIV risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 8.6%.

Who may consider RIV — and who may not

It is a weaker fit for investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

More securities from RiverNorth.