RJMI vs. FUMB
RJMI (RJ Eagle Municipal Income ETF) and FUMB (First Trust Ultra Short Duration Municipal ETF) are both Municipal Bonds funds. Both are actively managed. At a 0.20 correlation, their price movements are largely independent. RJMI charges 0.41%/yr vs 0.45%/yr for FUMB.
Performance
RJMI vs. FUMB - Performance Comparison
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Returns By Period
In the year-to-date period, RJMI achieves a 1.85% return, which is significantly higher than FUMB's 1.50% return.
RJMI
- 1D
- -0.04%
- 1M
- 0.09%
- 6M
- 1.34%
- YTD
- 1.85%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FUMB
- 1D
- 0.05%
- 1M
- 0.22%
- 6M
- 1.25%
- YTD
- 1.50%
- 1Y
- 2.52%
- 3Y*
- 2.99%
- 5Y*
- 2.03%
- 10Y*
- —
RJMI vs. FUMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
RJMI RJ Eagle Municipal Income ETF | 1.85% | 2.68% |
FUMB First Trust Ultra Short Duration Municipal ETF | 1.50% | 0.44% |
Correlation
The correlation between RJMI and FUMB is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 2, 2025 | 0.20 |
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Return for Risk
RJMI vs. FUMB — Risk / Return Rank
RJMI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FUMB
RJMI vs. FUMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RJ Eagle Municipal Income ETF (RJMI) and First Trust Ultra Short Duration Municipal ETF (FUMB). 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.
| RJMI | FUMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.72 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 11.70 | — |
| Martin ratioReturn relative to average drawdown | — | 43.01 | — |
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Drawdowns
RJMI vs. FUMB - Drawdown Comparison
The maximum RJMI drawdown since its inception was -3.04%, which is greater than FUMB's maximum drawdown of -2.68%. Use the drawdown chart below to compare losses from any high point for RJMI and FUMB.
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Drawdown Indicators
| RJMI | FUMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.04% | -2.68% | -0.36% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.22% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.60% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -1.25% | — |
Current DrawdownCurrent decline from peak | -0.51% | -0.02% | -0.49% |
Average DrawdownAverage peak-to-trough decline | -0.63% | -0.19% | -0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.06% | — |
Volatility
RJMI vs. FUMB - Volatility Comparison
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Volatility by Period
| RJMI | FUMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.29% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.55% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.01% | 0.79% | +2.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.01% | 1.17% | +1.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.01% | 1.76% | +1.25% |
RJMI vs. FUMB - Expense Ratio Comparison
RJMI has a 0.41% expense ratio, which is lower than FUMB's 0.45% expense ratio.
Dividends
RJMI vs. FUMB - Dividend Comparison
RJMI's dividend yield for the trailing twelve months is around 2.24%, less than FUMB's 2.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FUMB First Trust Ultra Short Duration Municipal ETF | 2.77% | 2.90% | 2.86% | 2.24% | 1.02% | 0.43% | 0.94% | 1.74% | 0.15% |
RJMI RJ Eagle Municipal Income ETF | 2.24% | 0.61% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RJMI and FUMB have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, RJMI is cheaper at 0.41% per year. The better choice depends on whether you care most about return, fees, risk, or income.
RJMI is cheaper with a 0.41% expense ratio, compared with 0.45% for FUMB.
FUMB has the higher dividend yield at 2.77%, compared with 2.24% for RJMI.
They also come from different issuers: Carillon Tower Advisers and First Trust. Their fees differ too: 0.41% for RJMI and 0.45% for FUMB.
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