IVV vs OPP
IVV vs OPP
iShares Core S&P 500 ETF vs RiverNorth/DoubleLine Strategic Opportunity Fund Inc.
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | OPP | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 5.40% | |
| AUM | $865.2B | $206M | |
| Dividend Yield | 1.09% | 13.33% | |
| Holdings | 508 | 10,170 | |
| YTD Return | +13.31% | +4.32% | |
| 1Y Return | +24.00% | -1.14% | |
| 3Y Return (annualized) | +21.16% | +9.17% | |
| 5Y Return (annualized) | +13.34% | -1.30% | |
| Volatility (annualized) | 15.1% | 13.1% | |
| Max Drawdown | -56.5% | -45.9% | |
| Fund Family | iShares by BlackRock (US) | RiverNorth | |
| Category | Equity | Allocation/Balanced | |
| Inception | May 15, 2000 | Sep 27, 2016 |
IVV vs OPP Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and RiverNorth/DoubleLine Strategic Opportunity Fund Inc. (OPP) is a ETF from RiverNorth. Over the past year IVV returned +24.00% while OPP returned -1.14%. Year to date, IVV is up 13.31% versus a gain of 4.32% for OPP.
Over three years, IVV compounded at +21.16% per year against +9.17% for OPP; over five years the annualized figures are +13.34% and -1.30% respectively. Across the full 10-year window we track, IVV has the edge at +7.03% annualized vs -2.19%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 13.1% for OPP. 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 -56.5% for IVV and -45.9% for OPP. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.63. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while OPP charges 5.40%. On a $10,000 position that is $3 vs $540 annually, a gap of $537 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 13.33% for OPP.
Holdings Overlap
IVV and OPP share 0 holdings out of 570 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or OPP?
IVV has an expense ratio of 0.03% while OPP charges 5.40%. IVV is the cheaper option. On a $10,000 investment, that is $537 per year of difference.
Which performed better, IVV or OPP?
Over the past year IVV returned +24.00% vs -1.14% for OPP, so IVV leads on 1-year performance. Over the longest common window we track (10 years), IVV annualized +7.03% vs -2.19% for OPP. Past performance does not guarantee future results.
Which is riskier, IVV or OPP?
IVV has been the more volatile fund at 15.1% annualized versus 13.1% for OPP. Worst drawdown: IVV -56.5% vs OPP -45.9%.
Should I hold both IVV and OPP?
IVV and OPP have a monthly-return correlation of 0.63, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and OPP?
IVV and OPP share 0 common holdings with a 0.0% weight overlap. Combined, they hold 570 unique securities.
Which pays a higher dividend, IVV or OPP?
IVV yields 1.09% while OPP yields 13.33%, so OPP currently pays the higher dividend yield.
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