RiverNorth Opportunistic Municipal Income Fund (RMI) Alternatives
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 funds that fit a different role in your portfolio.
Cheapest Alternatives to RMI
RMI charges 4.92% annually. Among mutual funds in the Municipal Bonds category, these options have the lowest expense ratios among RMI alternatives.
| Symbol | Name | Expense Ratio | Inception | |
|---|---|---|---|---|
| Western Asset Managed Municipals Fund Inc | 0.01% | Jun 26, 1992 | RMI vs MMU | |
| Western Asset SMASh Series TF Fund | 0.01% | Dec 22, 2015 | RMI vs LSMSX | |
| Eaton Vance Municipal Bond Fund | 0.01% | Dec 3, 1993 | RMI vs EIM | |
| Nuveen Select Maturities Municipal Fund | 0.03% | Sep 18, 1992 | RMI vs NIM | |
| NYLI MacKay DefinedTerm Muni Opportunities Fund | 0.03% | Jun 26, 2012 | RMI vs MMD |
Best Risk-Adjusted Alternatives to RMI
Among mutual funds in the Municipal Bonds category, these options rank highest on PortfoliosLab's risk-adjusted score, which accounts for volatility, drawdown, and return consistency over a 1-year period.
| Symbol | Name | Risk / Return Rank | Inception | |
|---|---|---|---|---|
| abrdn Ultra Short Municipal Income Fund | 100 | Dec 4, 2002 | RMI vs ATOIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 99 | Apr 21, 2016 | RMI vs TFCYX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | 99 | Dec 25, 2017 | RMI vs APUSX | |
| Federated Hermes Conservative Municipal Microshort... | 99 | Feb 2, 2021 | RMI vs FHMIX | |
| JPMorgan Ultra-Short Municipal Fund | 99 | May 30, 2016 | RMI vs USMTX |
Top Performing RMI Alternatives (YTD)
RMI alternatives from the Municipal Bonds category, sorted by year-to-date return.
| Symbol | Name | YTD Return | Inception | |
|---|---|---|---|---|
| Nuveen Massachusetts Quality Municipal Income Fund | 10.44% | Jan 12, 1993 | RMI vs NMT | |
| Nuveen Municipal Income Fund, Inc. | 6.43% | Apr 20, 1998 | RMI vs NMI | |
| Nuveen California Municipal Value Fund | 5.80% | Oct 7, 1987 | RMI vs NCA | |
| Nuveen Minnesota Quality Municipal Income Fund | 5.76% | Jun 25, 1993 | RMI vs NMS | |
| Nuveen Virginia Quality Municipal Income Fund | 4.12% | Mar 18, 1993 | RMI vs NPV |
Lowest Volatility Alternatives to RMI
RMI alternatives from the Municipal Bonds category, sorted by annualized volatility over the past year.
| Symbol | Name | Volatility 1Y | Inception | |
|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.68% | Aug 19, 2002 | RMI vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.69% | May 31, 2016 | RMI vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.70% | May 30, 2016 | RMI vs USMTX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.71% | Apr 11, 2022 | RMI vs DFABX | |
| BlackRock Allocation Target Shares | 0.76% | May 20, 2021 | RMI vs BATVX |
Lowest Drawdown Alternatives to RMI
RMI alternatives from the Municipal Bonds category, sorted by maximum drawdown over the past year.
| Symbol | Name | Max Drawdown 1Y | Inception | |
|---|---|---|---|---|
| BlackRock Allocation Target Shares | 0.00% | May 20, 2021 | RMI vs BATVX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | Dec 4, 2002 | RMI vs ATOIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | Apr 21, 2016 | RMI vs TFCYX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | -0.20% | Dec 25, 2017 | RMI vs APUSX | |
| Federated Hermes Conservative Municipal Microshort... | -0.20% | Feb 2, 2021 | RMI vs FHMIX |
Other Mutual Funds from RiverNorth
Most popular RiverNorth mutual funds on PortfoliosLab, across asset classes.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | Inception | |
|---|---|---|---|---|---|---|
| RiverNorth Opportunities Fund | Tactical Allocation | 29 | -2.24% | — | RMI vs RIV | |
| RiverNorth Flexible Municipal Income Fund II Inc. | Municipal Bonds | 8 | 1.79% | — | RMI vs RFMZ | |
| RiverNorth Capital and Income Fund | High Yield Bonds | 49 | 4.23% | — | RMI vs RSF | |
| RiverNorth Managed Duration Municipal Income Fund ... | Municipal Bonds | 13 | 3.01% | — | RMI vs RMMZ | |
| RiverNorth Flexible Municipal Income Fund | High Yield Muni | 9 | 2.29% | — | RMI vs RFM |
Often Compared With RMI
What investors most often compare with RMI, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | Inception | |
|---|---|---|---|---|---|---|
| Nuveen California Quality Municipal Income Fund | Municipal Bonds | 71 | 0.49% | Dec 1, 1998 | RMI vs NAC | |
| Nuveen Arizona Quality Municipal Income Fund | Municipal Bonds | 25 | 2.58% | Nov 19, 1992 | RMI vs NAZ | |
| Baird Strategic Municipal Bond Fund Institutional ... | Municipal Bonds | 81 | -0.21% | — | RMI vs BSNIX | |
| Western Asset Municipal High Income Fund Inc | Municipal Bonds | 5 | 2.39% | Nov 28, 1988 | RMI vs MHF |
Compare RMI with Any Fund or Stock
Compare RMI with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.