RiverNorth Flexible Municipal Income Fund II Inc. (RFMZ) belongs to the Municipal Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with RFMZ. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to RFMZ
RFMZ charges 3.27% annually. There are 494 mutual funds in the Municipal Bonds category with lower expense ratios, going as low as 0.01%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Western Asset Managed Municipals Fund Inc | 0.01% | — | Jun 1992 | RFMZ vs MMU | |
| Western Asset SMASh Series TF Fund | 0.01% | — | Dec 2015 | RFMZ vs LSMSX | |
| Eaton Vance Municipal Bond Fund | 0.01% | — | Dec 1993 | RFMZ vs EIM | |
| Nuveen Select Maturities Municipal Fund | 0.03% | — | Sep 1992 | RFMZ vs NIM | |
| NYLI MacKay DefinedTerm Muni Opportunities Fund | 0.03% | — | Jun 2012 | RFMZ vs MMD |
Best Risk-Adjusted Alternatives to RFMZ
RFMZ has a PortfoliosLab risk / return rank of 47. There are 458 mutual funds in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 100 | — | Apr 2022 | RFMZ vs DFABX | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | RFMZ vs ATOIX | |
| DFA NY Municipal Bond Portfolio | 99 | — | Jun 2015 | RFMZ vs DNYMX | |
| DFA California Short Term Municipal Bond Portfolio | 99 | — | Apr 2007 | RFMZ vs DFCMX | |
| DFA Short Term Municipal Bond Portfolio | 99 | — | Aug 2002 | RFMZ vs DFSMX |
Top Performing RFMZ Alternatives (YTD)
RFMZ is at 10.21% YTD. There are 2 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 16.24%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Massachusetts Quality Municipal Income Fund | 16.24% | — | Jan 1993 | RFMZ vs NMT | |
| RiverNorth Opportunistic Municipal Income Fund | 10.49% | — | — | RFMZ vs RMI | |
| Nuveen New York AMT Free Quality Municipal Income | 9.28% | — | Nov 2002 | RFMZ vs NRK | |
| Nuveen Arizona Quality Municipal Income Fund | 8.81% | — | Nov 1992 | RFMZ vs NAZ | |
| Nuveen Municipal Income Fund, Inc. | 8.28% | — | Apr 1998 | RFMZ vs NMI |
Lowest Volatility Alternatives to RFMZ
RFMZ has 8.62% 1-year volatility. There are 474 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.57%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 0.57% | — | Apr 2022 | RFMZ vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | RFMZ vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | RFMZ vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | RFMZ vs USMTX | |
| DFA Short Term Municipal Bond Portfolio | 0.61% | — | Aug 2002 | RFMZ vs DFSMX |
Lowest Drawdown Alternatives to RFMZ
RFMZ has a 1-year max drawdown of -6.02%. There are 473 mutual funds in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as 0.00%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| BlackRock Allocation Target Shares | 0.00% | — | May 2021 | RFMZ vs BATVX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | RFMZ vs ATOIX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | -0.10% | — | Dec 2017 | RFMZ vs APUSX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | RFMZ vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | RFMZ vs FHMIX |
Other Mutual Funds from RiverNorth
The 4 most viewed RiverNorth mutual funds shown here include RFM, RSF, RIV and span 4 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| RiverNorth Flexible Municipal Income Fund | High Yield Muni | 32 | 8.40% | — | — | RFMZ vs RFM | |
| RiverNorth Capital and Income Fund | High Yield Bonds | 42 | 7.54% | — | — | RFMZ vs RSF | |
| RiverNorth Opportunities Fund | Tactical Allocation | 20 | 4.60% | — | — | RFMZ vs RIV | |
| RiverNorth Managed Duration Municipal Income Fund ... | Municipal Bonds | 33 | 6.29% | — | — | RFMZ vs RMMZ |
Often Compared With RFMZ
Investors most often compare RFMZ with NMS, NCA, NPV. These 12 comparison targets span 1 categories, based on PortfoliosLab usage data.
Compare RFMZ with Any Fund or Stock
Compare RFMZ with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair RFMZ with funds that move differently
RiverNorth Flexible Municipal Income Fund II Inc. alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to RFMZ.
Explore RFMZ Diversifiers