RiverNorth Opportunistic Municipal Income Fund (RMI) 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 RMI. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to RMI
RMI charges 4.92% annually. There are 496 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 | RMI vs MMU | |
| Western Asset SMASh Series TF Fund | 0.01% | — | Dec 2015 | RMI vs LSMSX | |
| Eaton Vance Municipal Bond Fund | 0.01% | — | Dec 1993 | RMI vs EIM | |
| Nuveen Select Maturities Municipal Fund | 0.03% | — | Sep 1992 | RMI vs NIM | |
| NYLI MacKay DefinedTerm Muni Opportunities Fund | 0.03% | — | Jun 2012 | RMI vs MMD |
Best Risk-Adjusted Alternatives to RMI
RMI has a PortfoliosLab risk / return rank of 69. There are 202 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 Municipal Bond Portfolio | 100 | — | Aug 2002 | RMI vs DFSMX | |
| abrdn Ultra Short Municipal Income Fund | 100 | — | Dec 2002 | RMI vs ATOIX | |
| DFA Short-Term Selective State Municipal Bond Port... | 99 | — | Apr 2022 | RMI vs DFABX | |
| Federated Hermes Conservative Municipal Microshort... | 99 | — | Feb 2021 | RMI vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 99 | — | Apr 2016 | RMI vs TFCYX |
Top Performing RMI Alternatives (YTD)
RMI is at 14.21% YTD. There is 1 mutual fund in the Municipal Bonds category with a higher YTD return, going as high as 14.69%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Massachusetts Quality Municipal Income Fund | 14.69% | — | Jan 1993 | RMI vs NMT | |
| Nuveen Municipal Income Fund, Inc. | 10.88% | — | Apr 1998 | RMI vs NMI | |
| RiverNorth Flexible Municipal Income Fund II Inc. | 7.81% | — | — | RMI vs RFMZ | |
| Nuveen Arizona Quality Municipal Income Fund | 6.77% | — | Nov 1992 | RMI vs NAZ | |
| Nuveen New York AMT Free Quality Municipal Income | 6.63% | — | Nov 2002 | RMI vs NRK |
Lowest Volatility Alternatives to RMI
RMI has 13.05% 1-year volatility. There are 493 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.54%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.54% | — | Aug 2002 | RMI vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.57% | — | Apr 2022 | RMI vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | RMI vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.63% | — | May 2016 | RMI vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.65% | — | May 2016 | RMI vs USMTX |
Lowest Drawdown Alternatives to RMI
RMI has a 1-year max drawdown of -7.05%. There are 480 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 | RMI vs BATVX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | RMI vs ATOIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | RMI vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | RMI vs FHMIX | |
| DFA Short Term Municipal Bond Portfolio | -0.11% | — | Aug 2002 | RMI vs DFSMX |
Other Mutual Funds from RiverNorth
The 7 most viewed RiverNorth mutual funds shown here include RNSIX, RSF, RFM and span 5 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| RiverNorth Doubleline Strategic Income Fund | Multisector Bonds | 42 | 0.35% | — | Dec 2010 | RMI vs RNSIX | |
| RiverNorth Capital and Income Fund | High Yield Bonds | 59 | 8.00% | — | — | RMI vs RSF | |
| RiverNorth Flexible Municipal Income Fund | High Yield Muni | 49 | 8.68% | — | — | RMI vs RFM | |
| RiverNorth/Oaktree High Income Fund | High Yield Bonds | 45 | 1.11% | — | Dec 2012 | RMI vs RNHIX | |
| RiverNorth Opportunities Fund | Tactical Allocation | 22 | 4.58% | — | — | RMI vs RIV | |
| RiverNorth Managed Duration Municipal Income Fund ... | Municipal Bonds | 47 | 6.51% | — | — | RMI vs RMMZ | |
| RiverNorth/DoubleLine Strategic Opportunity Fund | Tactical Allocation | 5 | 3.24% | — | Sep 2016 | RMI vs OPP |
Often Compared With RMI
Investors most often compare RMI with NAC, NCA, NMS. These 16 comparison targets span 1 categories, based on PortfoliosLab usage data.
Compare RMI with Any Fund or Stock
Compare RMI with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair RMI with funds that move differently
RiverNorth Opportunistic Municipal Income Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to RMI.
Explore RMI Diversifiers