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 49 mutual funds in the High Yield Muni category with lower expense ratios, going as low as 0.04%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal Credit Opportunities Fund | 0.04% | — | Apr 2019 | RFM vs NMCO | |
| BlackRock Allocation Target Shares Series E Portfo... | 0.11% | — | Aug 2014 | RFM vs BATEX | |
| Eaton Vance High Yield Municipal Income Fund Class... | 0.18% | — | May 2007 | RFM vs EWHYX | |
| American High-Income Municipal Bond Fund Class F-3 | 0.31% | — | Jan 2017 | RFM vs HIMFX | |
| American High-Income Municipal Bond Fund Class F-2 | 0.42% | — | Aug 2008 | RFM vs AHMFX |
Best Risk-Adjusted Alternatives to RFM
RFM has a PortfoliosLab risk / return rank of 25. There are 46 mutual funds in the High Yield Muni category with higher risk-adjusted ranks, going as high as 91.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| T. Rowe Price Tax Free High Yield Fund | 91 | — | Feb 1985 | RFM vs PRFHX | |
| Invesco Short Duration High Yield Municipal Fund | 88 | — | Sep 2015 | RFM vs ISHYX | |
| Federated Hermes Municipal High Yield Advtg Fd | 86 | — | Apr 1987 | RFM vs FHTFX | |
| Columbia High Yield Municipal Fund | 79 | — | Mar 1984 | RFM vs SRHMX | |
| American High-Income Municipal Bond Fund Class F-3 | 79 | — | Jan 2017 | RFM vs HIMFX |
Top Performing RFM Alternatives (YTD)
RFM is at 7.96% YTD. No mutual funds in the High Yield Muni category have higher YTD returns; the top-performing alternatives shown here go as high as 7.29%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal Credit Opportunities Fund | 7.29% | — | Apr 2019 | RFM vs NMCO | |
| Eaton Vance High Yield Municipal Income Fund Class... | 3.35% | — | May 2007 | RFM vs EWHYX | |
| Nuveen Municipal High Income Opportunity Fund | 3.29% | — | Nov 2003 | RFM vs NMZ | |
| Nuveen High Yield Municipal Bond Fund Class R6 | 3.20% | — | Jun 2016 | RFM vs NHMFX | |
| Nuveen High Yield Municipal Bond Fund | 3.18% | — | Jun 1999 | RFM vs NHMRX |
Lowest Volatility Alternatives to RFM
RFM has 9.40% 1-year volatility. There are 51 mutual funds in the High Yield Muni category with lower 1-year volatility, going as low as 1.97%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Redwood Managed Municipal Income Fund | 1.97% | — | Mar 2017 | RFM vs RWMIX | |
| Lord Abbett Short Duration High Income Municipal B... | 2.07% | — | Jun 2015 | RFM vs SDHIX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 2.25% | — | Jan 2013 | RFM vs NVHIX | |
| Invesco Short Duration High Yield Municipal Fund | 2.31% | — | Sep 2015 | RFM vs ISHYX | |
| Counterpoint Tactical Municipal Fund | 2.53% | — | Jun 2018 | RFM vs TMNIX |
Lowest Drawdown Alternatives to RFM
RFM has a 1-year max drawdown of -5.83%. There are 50 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 | |
|---|---|---|---|---|---|
| Nuveen Short Duration High Yield Municipal Bond Fu... | -1.80% | — | Jan 2013 | RFM vs NVHIX | |
| Invesco Short Duration High Yield Municipal Fund | -1.89% | — | Sep 2015 | RFM vs ISHYX | |
| abrdn Short Duration High Yield Municipal Fund | -1.98% | — | May 2013 | RFM vs AHYMX | |
| Lord Abbett Short Duration High Income Municipal B... | -2.08% | — | Jun 2015 | RFM vs SDHIX | |
| 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 | |
|---|---|---|---|---|---|---|---|
| RiverNorth Capital and Income Fund | High Yield Bonds | 35 | 6.49% | — | — | RFM vs RSF | |
| RiverNorth Opportunistic Municipal Income Fund | Municipal Bonds | 21 | 9.92% | — | — | RFM vs RMI | |
| RiverNorth Flexible Municipal Income Fund II Inc. | Municipal Bonds | 27 | 7.11% | — | — | RFM vs RFMZ | |
| RiverNorth Opportunities Fund | Tactical Allocation | 18 | 4.32% | — | — | RFM vs RIV | |
| RiverNorth Managed Duration Municipal Income Fund ... | Municipal Bonds | 21 | 5.04% | — | — | RFM vs RMMZ |
Often Compared With RFM
Investors most often compare RFM with NHMAX, FRHIX, MISHX. These 8 comparison targets span 1 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Nuveen High Yield Municipal Bond Fund Class A | High Yield Muni | 58 | 3.09% | — | Jun 1999 | RFM vs NHMAX | |
| Franklin High Yield Tax Free Income Fund | High Yield Muni | 73 | 2.81% | — | Mar 1986 | RFM vs FRHIX | |
| AB Municipal Income Shares | High Yield Muni | 69 | 2.13% | — | Aug 2010 | RFM vs MISHX | |
| Sierra Tactical Municipal Fund | High Yield Muni | 55 | 1.82% | — | Dec 2018 | RFM vs STMYX | |
| Neuberger Berman Municipal High Income Fund | High Yield Muni | 49 | 0.48% | — | Jun 2015 | RFM vs NMHIX | |
| Franklin Templeton SMACS: Series H | High Yield Muni | 75 | 2.99% | — | Jun 2019 | RFM vs FQTHX | |
| American High-Income Municipal Bond Fund | High Yield Muni | 76 | 2.23% | — | Sep 1994 | RFM vs AMHIX | |
| BNY Mellon High Yield Municipal Bond Fund | High Yield Muni | 62 | 3.03% | — | 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.
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