RFM Alternatives & Similar Mutual Funds

RiverNorth Flexible Municipal Income Fund (RFM) belongs to the High Yield Muni category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with RFM. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to RFM

RFM charges 5.15% annually. There are 51 mutual funds in the High Yield Muni category with lower expense ratios, going as low as 0.04%.

Symbol	Name	Expense Ratio	AUM	Inception
NMCO	Nuveen Municipal Credit Opportunities Fund	0.04%	—	Apr 2019	RFM vs NMCO
VWALX	Vanguard High-Yield Tax-Exempt Fund Admiral Shares	0.09%	17.60B	Nov 2001	RFM vs VWALX
BATEX	BlackRock Allocation Target Shares Series E Portfo...	0.11%	—	Aug 2014	RFM vs BATEX
VWAHX	Vanguard High-Yield Tax-Exempt Fund Investor Share...	0.17%	17.60B	Dec 1978	RFM vs VWAHX
EWHYX	Eaton Vance High Yield Municipal Income Fund Class...	0.18%	—	May 2007	RFM vs EWHYX

Best Risk-Adjusted Alternatives to RFM

RFM has a PortfoliosLab risk / return rank of 37. There are 46 mutual funds in the High Yield Muni category with higher risk-adjusted ranks, going as high as 93.

Symbol	Name	Risk / Return Rank	AUM	Inception
PRFHX	T. Rowe Price Tax Free High Yield Fund	93	—	Feb 1985	RFM vs PRFHX
FHTFX	Federated Hermes Municipal High Yield Advtg Fd	92	—	Apr 1987	RFM vs FHTFX
ISHYX	Invesco Short Duration High Yield Municipal Fund	90	—	Sep 2015	RFM vs ISHYX
SRHMX	Columbia High Yield Municipal Fund	86	—	Mar 1984	RFM vs SRHMX
EWHYX	Eaton Vance High Yield Municipal Income Fund Class...	83	—	May 2007	RFM vs EWHYX

Top Performing RFM Alternatives (YTD)

RFM is at 8.47% YTD. There is 1 mutual fund in the High Yield Muni category with a higher YTD return, going as high as 9.30%.

Symbol	Name	YTD Return	AUM	Inception
NMCO	Nuveen Municipal Credit Opportunities Fund	9.30%	—	Apr 2019	RFM vs NMCO
NMZ	Nuveen Municipal High Income Opportunity Fund	6.50%	—	Nov 2003	RFM vs NMZ
EWHYX	Eaton Vance High Yield Municipal Income Fund Class...	3.60%	—	May 2007	RFM vs EWHYX
NHMFX	Nuveen High Yield Municipal Bond Fund Class R6	3.41%	—	Jun 2016	RFM vs NHMFX
SRHMX	Columbia High Yield Municipal Fund	3.38%	—	Mar 1984	RFM vs SRHMX

Lowest Volatility Alternatives to RFM

RFM has 9.44% 1-year volatility. There are 52 mutual funds in the High Yield Muni category with lower 1-year volatility, going as low as 2.01%.

Symbol	Name	Volatility 1Y	AUM	Inception
RWMIX	Redwood Managed Municipal Income Fund	2.01%	—	Mar 2017	RFM vs RWMIX
SDHIX	Lord Abbett Short Duration High Income Municipal B...	2.07%	—	Jun 2015	RFM vs SDHIX
NVHIX	Nuveen Short Duration High Yield Municipal Bond Fu...	2.24%	—	Jan 2013	RFM vs NVHIX
ISHYX	Invesco Short Duration High Yield Municipal Fund	2.30%	—	Sep 2015	RFM vs ISHYX
TMNIX	Counterpoint Tactical Municipal Fund	2.55%	—	Jun 2018	RFM vs TMNIX

Lowest Drawdown Alternatives to RFM

RFM has a 1-year max drawdown of -5.83%. There are 51 mutual funds in the High Yield Muni category with shallower 1-year drawdowns, going as shallow as -1.80%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
NVHIX	Nuveen Short Duration High Yield Municipal Bond Fu...	-1.80%	—	Jan 2013	RFM vs NVHIX
ISHYX	Invesco Short Duration High Yield Municipal Fund	-1.89%	—	Sep 2015	RFM vs ISHYX
AHYMX	abrdn Short Duration High Yield Municipal Fund	-1.98%	—	May 2013	RFM vs AHYMX
SDHIX	Lord Abbett Short Duration High Income Municipal B...	-2.08%	—	Jun 2015	RFM vs SDHIX
TMNIX	Counterpoint Tactical Municipal Fund	-2.26%	—	Jun 2018	RFM vs TMNIX

Other Mutual Funds from RiverNorth

The 5 most viewed RiverNorth mutual funds shown here include RSF, RMI, RFMZ and span 3 categories.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
RSF	RiverNorth Capital and Income Fund	High Yield Bonds	45	7.50%	—	—	RFM vs RSF
RMI	RiverNorth Opportunistic Municipal Income Fund	Municipal Bonds	33	11.47%	—	—	RFM vs RMI
RFMZ	RiverNorth Flexible Municipal Income Fund II Inc.	Municipal Bonds	59	10.46%	—	—	RFM vs RFMZ
RIV	RiverNorth Opportunities Fund	Tactical Allocation	22	4.42%	—	—	RFM vs RIV
RMMZ	RiverNorth Managed Duration Municipal Income Fund ...	Municipal Bonds	39	6.03%	—	—	RFM vs RMMZ

Often Compared With RFM

Investors most often compare RFM with NHMAX, FRHIX, NHMRX. These 11 comparison targets span 1 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
NHMAX	Nuveen High Yield Municipal Bond Fund Class A	High Yield Muni	63	3.31%	—	Jun 1999	RFM vs NHMAX
FRHIX	Franklin High Yield Tax Free Income Fund	High Yield Muni	76	2.93%	—	Mar 1986	RFM vs FRHIX
NHMRX	Nuveen High Yield Municipal Bond Fund	High Yield Muni	61	3.32%	—	Jun 1999	RFM vs NHMRX
HIMFX	American High-Income Municipal Bond Fund Class F-3	High Yield Muni	82	2.57%	—	Jan 2017	RFM vs HIMFX
AHMFX	American High-Income Municipal Bond Fund Class F-2	High Yield Muni	81	2.52%	—	Aug 2008	RFM vs AHMFX
MISHX	AB Municipal Income Shares	High Yield Muni	71	2.22%	—	Aug 2010	RFM vs MISHX
STMYX	Sierra Tactical Municipal Fund	High Yield Muni	62	2.11%	—	Dec 2018	RFM vs STMYX
NMHIX	Neuberger Berman Municipal High Income Fund	High Yield Muni	—	—	—	Jun 2015	RFM vs NMHIX
FQTHX	Franklin Templeton SMACS: Series H	High Yield Muni	78	3.21%	—	Jun 2019	RFM vs FQTHX
AMHIX	American High-Income Municipal Bond Fund	High Yield Muni	78	2.43%	—	Sep 1994	RFM vs AMHIX
DHMBX	BNY Mellon High Yield Municipal Bond Fund	High Yield Muni	69	3.23%	—	Sep 2005	RFM vs DHMBX

Compare RFM with Any Fund or Stock

Compare RFM with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

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Diversifiers

Pair RFM with funds that move differently

RiverNorth Flexible Municipal Income Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to RFM.

Explore RFM Diversifiers

RiverNorth Flexible Municipal Income Fund (RFM) Alternatives