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 | |
| NYLI MacKay DefinedTerm Muni Opportunities Fund | 0.03% | — | Jun 2012 | RMI vs MMD | |
| Nuveen Select Maturities Municipal Fund | 0.03% | — | Sep 1992 | RMI vs NIM |
Best Risk-Adjusted Alternatives to RMI
RMI has a PortfoliosLab risk / return rank of 21. There are 479 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 | RMI vs DFABX | |
| DFA NY Municipal Bond Portfolio | 99 | — | Jun 2015 | RMI vs DNYMX | |
| DFA California Short Term Municipal Bond Portfolio | 99 | — | Apr 2007 | RMI vs DFCMX | |
| DFA Short Term Municipal Bond Portfolio | 99 | — | Aug 2002 | RMI vs DFSMX | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | RMI vs ATOIX |
Top Performing RMI Alternatives (YTD)
RMI is at 9.92% YTD. There are 3 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 16.51%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Massachusetts Quality Municipal Income Fund | 16.51% | — | Jan 1993 | RMI vs NMT | |
| Nuveen Arizona Quality Municipal Income Fund | 13.56% | — | Nov 1992 | RMI vs NAZ | |
| Nuveen Municipal Income Fund, Inc. | 11.65% | — | Apr 1998 | RMI vs NMI | |
| Nuveen Minnesota Quality Municipal Income Fund | 7.31% | — | Jun 1993 | RMI vs NMS | |
| RiverNorth Flexible Municipal Income Fund II Inc. | 7.11% | — | — | RMI vs RFMZ |
Lowest Volatility Alternatives to RMI
RMI has 13.08% 1-year volatility. There are 496 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.56%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 0.56% | — | Apr 2022 | RMI vs DFABX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | RMI vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | RMI vs USMTX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | RMI vs DFCMX | |
| DFA Short Term Municipal Bond Portfolio | 0.61% | — | Aug 2002 | RMI vs DFSMX |
Lowest Drawdown Alternatives to RMI
RMI has a 1-year max drawdown of -7.05%. There are 483 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 | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | RMI vs FHMIX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | RMI vs ATOIX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | -0.10% | — | Dec 2017 | RMI vs APUSX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | RMI vs TFCYX |
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 | 25 | 7.96% | — | — | RMI vs RFM | |
| RiverNorth Capital and Income Fund | High Yield Bonds | 35 | 6.49% | — | — | RMI vs RSF | |
| RiverNorth Opportunities Fund | Tactical Allocation | 18 | 4.32% | — | — | RMI vs RIV | |
| RiverNorth Managed Duration Municipal Income Fund ... | Municipal Bonds | 21 | 5.04% | — | — | RMI vs RMMZ |
Often Compared With RMI
Investors most often compare RMI with NAC, NCA, NNY. These 13 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