NNY vs. RMI
NNY (Nuveen New York Municipal Value Fund) and RMI (RiverNorth Opportunistic Municipal Income Fund) are both Municipal Bonds funds. Over the past 5 years, NNY returned 1.19%/yr vs -0.16%/yr for RMI. At a 0.23 correlation, their price movements are largely independent. NNY charges 0.03%/yr vs 4.92%/yr for RMI.
Performance
NNY vs. RMI - Performance Comparison
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Returns By Period
In the year-to-date period, NNY achieves a 4.66% return, which is significantly lower than RMI's 11.00% return.
NNY
- 1D
- 1.04%
- 1M
- 4.76%
- YTD
- 4.66%
- 6M
- 4.10%
- 1Y
- 13.83%
- 3Y*
- 5.85%
- 5Y*
- 1.19%
- 10Y*
- 2.09%
RMI
- 1D
- 0.46%
- 1M
- 2.32%
- YTD
- 11.00%
- 6M
- 10.15%
- 1Y
- 14.80%
- 3Y*
- 6.36%
- 5Y*
- -0.16%
- 10Y*
- —
NNY vs. RMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
NNY Nuveen New York Municipal Value Fund | 4.66% | 11.17% | 1.19% | 4.30% | -13.41% | 1.85% | -1.65% | 13.73% | 5.40% |
RMI RiverNorth Opportunistic Municipal Income Fund | 11.00% | 2.67% | 6.30% | 0.19% | -21.34% | 14.86% | 0.62% | 19.27% | 0.55% |
Correlation
The correlation between NNY and RMI is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2018 | 0.23 |
The correlation between NNY and RMI shifts across timeframes, from 0.23 (all time) to 0.35 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
NNY vs. RMI — Risk / Return Rank
NNY
RMI
NNY vs. RMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen New York Municipal Value Fund (NNY) and RiverNorth Opportunistic Municipal Income Fund (RMI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| NNY | RMI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.24 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | 2.11 | -0.12 |
| Martin ratioReturn relative to average drawdown | 7.83 | 6.14 | +1.69 |
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Drawdowns
NNY vs. RMI - Drawdown Comparison
The maximum NNY drawdown since its inception was -36.62%, which is greater than RMI's maximum drawdown of -32.73%. Use the drawdown chart below to compare losses from any high point for NNY and RMI.
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Drawdown Indicators
| NNY | RMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.62% | -32.73% | -3.89% |
Max Drawdown (1Y)Largest decline over 1 year | -6.97% | -7.05% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -9.93% | -20.94% | +11.01% |
Max Drawdown (5Y)Largest decline over 5 years | -19.68% | -32.73% | +13.05% |
Max Drawdown (10Y)Largest decline over 10 years | -20.02% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -4.66% | +4.66% |
Average DrawdownAverage peak-to-trough decline | -7.97% | -10.99% | +3.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.77% | 2.42% | -0.65% |
Volatility
NNY vs. RMI - Volatility Comparison
Nuveen New York Municipal Value Fund (NNY) and RiverNorth Opportunistic Municipal Income Fund (RMI) have volatilities of 2.36% and 2.28%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NNY | RMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.36% | 2.28% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 8.42% | 11.19% | -2.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.27% | 12.93% | -2.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.94% | 16.33% | -5.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.28% | 16.15% | -3.87% |
NNY vs. RMI - Expense Ratio Comparison
NNY has a 0.03% expense ratio, which is lower than RMI's 4.92% expense ratio.
Dividends
NNY vs. RMI - Dividend Comparison
NNY's dividend yield for the trailing twelve months is around 4.03%, less than RMI's 7.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NNY Nuveen New York Municipal Value Fund | 4.03% | 4.13% | 4.25% | 3.99% | 3.50% | 2.96% | 3.29% | 3.42% | 3.77% | 4.00% | 4.10% | 3.91% |
RMI RiverNorth Opportunistic Municipal Income Fund | 7.17% | 7.92% | 7.69% | 7.67% | 7.63% | 10.25% | 6.03% | 4.85% | 0.46% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NNY and RMI have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NNY has higher volatility (2.36%) compared to RMI (2.28%). In terms of maximum drawdown, NNY dropped -36.62% vs RMI's -32.73%.
NNY currently has the higher Sharpe Ratio (1.35 vs 1.15), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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