RiverNorth Core Opportunity Fund
Daily Data
As of 9.30.2022
RNCIX RNCOX
Class I R
Current NAV $6.12 $6.13
Daily Change % 0.00% 0.00%
YTD Change % -17.48% -17.60%
Overview
Performance
Portfolio
Distributions
Management

Overview

Investment Objective & Philosophy

Diversification does not ensure a profit or guarantee against loss.

Investment Strategy

Investment Rationale

Fund Information as of 8.31.2022

Class I (Institutional) Class R (Retail)
NASDAQ Symbol RNCIX RNCOX
CUSIP 76881N889 76881N103
Inception Date 12.27.2006 8.11.2014
Annual Report Expense Ratio 1.33% 1.58%
Total Expense Ratio3 3.06% 3.31%
Minimum Initial Investment $100,000 $5,000
Minimum IRA Investment $100,000 $1,000
30-Day SEC Yield (net)4, 5 5.09% 4.80%
Benchmarks6 S&P 500 Index, Bloomberg US Aggregate Bond Index, Morningstar Blend
Fund Net Assets $49.56M
Sales Load None
Income Distributions Monthly
Capital Gains Distributions Annually

Performance

Total Returns for the Period Ending 6.30.2022 Q2 2022 YTD 1 Year 3 Year 5 Year 10 Year Since Inception†* (RNCOX) Since Inception* (RNCIX)
RiverNorth Core Opportunity Fund, Class I -11.15% -13.65% -12.46% 4.17% 5.16% - - - - 5.25%
RiverNorth Core Opportunity Fund, Class R -11.19% -13.72% -12.64% 3.91% 4.91% 6.68% 6.84% - -
S&P 500 Total Return Index2 -16.10% -19.96% -10.62% 10.60% 11.31% 12.96% 8.68% 10.97%
Bloomberg US Aggregate Bond Index2 -4.69% -10.35% -10.29% -0.93% 0.88% 1.54% 3.21% 1.46%
Morningstar Category: U.S. Fund Allocation - 85%+ Equity2 -14.98% -20.53% -17.31% 4.57% 5.57% 8.20% 5.26% 5.68%
Total Returns for the Period Ending 8.31.2022 Aug 3 Mo YTD 1 Year 3 Year 5 Year 10 Year Since Inception†* (RNCIX) Since Inception†* (RNCOX)
RiverNorth Core Opportunity Fund, Class I -1.64% -2.15% -10.32% -9.88% 6.01% 5.45% - - 5.63% - -
RiverNorth Core Opportunity Fund, Class R -1.66% -2.21% -10.44% -10.17% 5.73% 5.21% 6.72% - - 7.02%
S&P 500 Total Return Index6 -4.08% -3.88% -16.14% -11.23% 12.39% 11.82% 13.08% 11.37% 8.90%
Bloomberg US Aggregate Bond Index6 -2.83% -2.01% -10.75% -11.52% -2.00% 0.52% 1.35% 1.38% 3.14%
Morningstar Category: U.S. Fund Allocation - 85%+ Equity6 -3.61% -5.11% -18.01% -17.12% 6.25% 5.83% 8.18% 5.97% 5.42%

Performance data quoted represents past performance, which is not a guarantee of future results. Current performance may be lower or higher than the performance quoted. The principal value and investment return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. You can obtain performance data current to the most recent month end by calling (888) 848-7569. Total return measures net investment income and capital gain or loss from portfolio investments. All performance shown assumes reinvestment of dividends and capital gains distributions.

* RNCOX Inception Date: 12.27.2006, RNCIX Inception Date: 8.11.2014

Average Annual

Portfolio

Asset Class Allocation as of 8.31.2022
Asset Class Allocation
Fixed Income 62%
US Equity 25%
International Equity 11%
Cash & Cash Equivalents 11%
Business Development Companies (BDCs) 7%
Investment Company Bonds 7%
Alternatives 3%
Special Purpose Acquisition Companies (SPACs) 1%
Fixed Income 62%
US Equity 25%
International Equity 11%
Cash & Cash Equivalents 11%
Business Development Companies (BDCs) 7%
Investment Company Bonds 7%
Alternatives 3%
Special Purpose Acquisition Companies (SPACs) 1%

The allocation does not add up to 100% as it reflects the estimated leverage utilized by the underlying funds.

Investment Vehicle Allocation as of 8.31.2022
Asset Class Allocation
Closed-End Funds (CEFs) 78%
Cash & Cash Equivalents 9%
Investment Company Debt 8%
Business Development Companies (BDCs) 3%
Exchange-Traded Funds (ETFs) 1%
Special Purpose Acquisition Companies (SPACs) 1%
Closed-End Funds (CEFs) 78%
Cash & Cash Equivalents 9%
Investment Company Debt 8%
Business Development Companies (BDCs) 3%
Exchange-Traded Funds (ETFs) 1%
Special Purpose Acquisition Companies (SPACs) 1%
Fixed Income Allocation as of 8.31.2022
Asset Class Allocation
High Yield 43%
Not Rated 43%
Investment Grade 15%
High Yield 43%
Not Rated 43%
Investment Grade 15%

Total does not add up to 100% due to rounding.

Distributions

Current Year Only Show All   |  

Portfolio Management

Patrick Galley, CFA
Chief Executive Officer, Chief Investment Officer
RiverNorth
Read full bio »
Steve O'Neill, CFA
Portfolio Manager
RiverNorth
Read full bio »

Disclosures & Definitions

More detailed information regarding these risks can be found in the Fund's prospectus.

Fund Risks: Borrowing Risk - borrowings increase fund expenses and are subject to repayment, possibly at inopportune times. Closed-End Fund Risk - closed-end funds are exchange traded, may trade at a discount to their net asset values and may deploy leverage. Derivatives Risk - derivatives are subject to counterparty risk. Equity Risk - equity securities may experience volatility and the value of equity securities may move in opposite directions from each other and from other equity markets generally. Convertible Security Risk - the market value of convertible securities adjusts with interest rates and the value of the underlying stock. Exchange Traded Note Risk - exchange traded notes represent unsecured debt of the issuer and may be influenced by interest rates, credit ratings of the issuer or changes in value of the reference index. Fixed Income Risk - the market value of fixed income securities adjusts with interest rates and the securities are subject to issuer default. Foreign/Emerging Market Risk - foreign securities may be subject to inefficient or volatile markets, different regulatory regimes or different tax policies. These risks may be enhanced in emerging markets. Investment Style Risk - investment strategies may come in and out of favor with investors and may underperform or outperform at times. Management Risk - there is no guarantee that the adviser's investment decisions will produce the desired results. Large Shareholder Purchase and Redemption Risk - The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Market Risk - economic conditions, interest rates and political events may affect the securities markets. Preferred Stock Risk - preferred stocks generally pay dividends, but may be less liquid than common stocks, have less priority than debt instruments and may be subject to redemption by the issuer. REIT Risk - the value of REITs changes with the value of the underlying properties and changes in interest rates and are subject to additional fees. Security Risk - The value of the Fund may decrease in response to the activities and financial prospects of individual securities in the Fund's portfolio. Short Sale Risk - short positions are speculative, are subject to transaction costs and are riskier than long positions in securities. Small-Cap Risk - small-cap companies are more susceptible to failure, are often thinly traded and have more volatile stock prices. Structured Notes Risk - because of the embedded derivative feature, structured notes are subject to more risk than investing in a simple note or bond. Swap Risk - swap agreements are subject to counterparty default risk and may not perform as intended. Tax Risk - new federal or state governmental action could adversely affect the tax-exempt status of securities held by the Fund, resulting in higher tax liability for shareholders and potentially hurting Fund performance as well. Underlying Fund Risk - underlying funds have additional fees, may utilize leverage, may not correlate to an intended index and may trade at a discount to their net asset values.

ALPS Distributors, Inc. is not affiliated with RiverNorth Capital Management, LLC.

CFA® is a trademark owned by the CFA Institute.

Past performance is no guarantee of future results. Diversification does not ensure a profit or a guarantee against loss.

1 The price at which a closed-end fund trades often varies from its NAV. Some funds have market prices below their net asset values - referred to as a discount. Conversely, some funds have market prices above their net asset values - referred to as a premium.

2 Standard Deviation is a measure of the volatility of a fund's returns. Beta reflects the sensitivity of a fund's return to fluctuations in the market index. A beta of 0.5 reflects half of the market's volatility as represented by the Fund's primary benchmark, while a beta of 2.0 reflects twice the volatility. Alpha is a measure of performance on a risk-adjusted basis. The excess return of a fund relative to the return of the benchmark index is a fund's alpha.

3 The expense ratio as disclosed in the Fund's annual report dated 9.30.2021 only includes the direct expenses paid by shareholders from their investment. The expense ratio as disclosed in the Fund's prospectus dated 1.28.2022 is required to include the indirect expenses of investing in underlying funds.

4 30-Day SEC Yield: The yield figure reflects the dividends and interest earned during the period, after the deduction of the Funds' expenses.

5 The Fund pays periodic distributions consisting of dividend income, return of capital, and capital gains. However, the tax characteristics of these distributions cannot be fully determined until after the end of year when the Fund's underlying investments designate or reclassify the composition of their payments. In the interim, the Fund estimates return of capital rates based on the previous year's distribution. As a result, a portion of the quoted SEC Yield may consist of an estimated amount of return of capital

6 The S&P 500 Index is a capitalization-weighted index of 500 stocks. The index is designed to measure performance of the broad domestic economy based on the changing aggregate market value of these 500 stocks. The Bloomberg US Aggregate Bond Index is an unmanaged index of investment-grade fixed-rate debt issues with maturities of at least one year. The indexes cannot be invested in directly and do not reflect fees and expenses. The Morningstar U.S. Fund Allocation Category - 85%+ Equity. Funds in allocation categories seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These portfolios are dominated by domestic holdings and have equity exposures more than 85%.