RFMZ vs. EIM
Compare and contrast key facts about RiverNorth Flexible Municipal Income Fund II Inc. (RFMZ) and Eaton Vance Municipal Bond Fund (EIM).
RFMZ is managed by RiverNorth. EIM is managed by Eaton Vance. It was launched on Dec 3, 1993.
Performance
RFMZ vs. EIM - Performance Comparison
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RFMZ vs. EIM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
RFMZ RiverNorth Flexible Municipal Income Fund II Inc. | 1.79% | 2.22% | 10.11% | 4.54% | -26.41% | 3.62% |
EIM Eaton Vance Municipal Bond Fund | 1.96% | -0.08% | 8.21% | 1.66% | -19.82% | 6.56% |
Returns By Period
In the year-to-date period, RFMZ achieves a 1.79% return, which is significantly lower than EIM's 1.96% return.
RFMZ
- 1D
- 2.10%
- 1M
- -3.42%
- YTD
- 1.79%
- 6M
- 0.72%
- 1Y
- 1.97%
- 3Y*
- 5.62%
- 5Y*
- -1.89%
- 10Y*
- —
EIM
- 1D
- 2.52%
- 1M
- -2.19%
- YTD
- 1.96%
- 6M
- 1.36%
- 1Y
- 4.29%
- 3Y*
- 3.48%
- 5Y*
- -1.10%
- 10Y*
- 1.86%
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RFMZ vs. EIM - Expense Ratio Comparison
RFMZ has a 3.27% expense ratio, which is higher than EIM's 0.01% expense ratio.
Return for Risk
RFMZ vs. EIM — Risk / Return Rank
RFMZ
EIM
RFMZ vs. EIM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RiverNorth Flexible Municipal Income Fund II Inc. (RFMZ) and Eaton Vance Municipal Bond Fund (EIM). 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.
| RFMZ | EIM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.19 | 0.43 | -0.24 |
Sortino ratioReturn per unit of downside risk | 0.32 | 0.70 | -0.39 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.09 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 0.18 | 0.67 | -0.48 |
Martin ratioReturn relative to average drawdown | 0.51 | 1.41 | -0.90 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RFMZ | EIM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.19 | 0.43 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | -0.10 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.16 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.13 | 0.26 | -0.39 |
Correlation
The correlation between RFMZ and EIM is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
RFMZ vs. EIM - Dividend Comparison
RFMZ's dividend yield for the trailing twelve months is around 8.01%, more than EIM's 6.24% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RFMZ RiverNorth Flexible Municipal Income Fund II Inc. | 8.01% | 8.13% | 7.76% | 7.92% | 8.53% | 4.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EIM Eaton Vance Municipal Bond Fund | 6.24% | 6.27% | 5.65% | 4.07% | 4.87% | 4.38% | 4.29% | 4.00% | 4.98% | 5.48% | 5.64% | 5.90% |
Drawdowns
RFMZ vs. EIM - Drawdown Comparison
The maximum RFMZ drawdown since its inception was -39.28%, smaller than the maximum EIM drawdown of -52.50%. Use the drawdown chart below to compare losses from any high point for RFMZ and EIM.
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Drawdown Indicators
| RFMZ | EIM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.28% | -52.50% | +13.22% |
Max Drawdown (1Y)Largest decline over 1 year | -9.48% | -6.76% | -2.72% |
Max Drawdown (5Y)Largest decline over 5 years | -39.28% | -31.69% | -7.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.69% | — |
Current DrawdownCurrent decline from peak | -18.33% | -11.10% | -7.23% |
Average DrawdownAverage peak-to-trough decline | -20.44% | -8.36% | -12.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.40% | 3.20% | +0.20% |
Volatility
RFMZ vs. EIM - Volatility Comparison
The current volatility for RiverNorth Flexible Municipal Income Fund II Inc. (RFMZ) is 3.29%, while Eaton Vance Municipal Bond Fund (EIM) has a volatility of 3.61%. This indicates that RFMZ experiences smaller price fluctuations and is considered to be less risky than EIM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RFMZ | EIM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.29% | 3.61% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 6.12% | 5.10% | +1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.23% | 9.98% | +0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.63% | 10.60% | +3.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.52% | 11.52% | +2.00% |