RJMI vs. RJDI

Last updated Jul 12, 2026

RJMI (RJ Eagle Municipal Income ETF) and RJDI (RJ Eagle GCM Dividend Select Income ETF) are both exchange-traded funds - RJMI is a Municipal Bonds fund actively managed by Carillon Tower Advisers, while RJDI is a Dividend fund actively managed by Carillon Tower Advisers. Both are actively managed. At a 0.24 correlation, their price movements are largely independent. RJMI charges 0.41%/yr vs 0.63%/yr for RJDI.

Performance

RJMI vs. RJDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in RJ Eagle Municipal Income ETF (RJMI) and RJ Eagle GCM Dividend Select Income ETF (RJDI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RJMI achieves a 1.85% return, which is significantly lower than RJDI's 16.21% return.

RJMI

• 1D: -0.04%
• 1M: 0.09%
• 6M: 1.34%
• YTD: 1.85%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

RJDI

• 1D: 0.31%
• 1M: 1.75%
• 6M: 14.63%
• YTD: 16.21%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

RJMI vs. RJDI - Yearly Performance Comparison

	2026 (YTD)	2025
RJMI RJ Eagle Municipal Income ETF	1.85%	2.68%
RJDI RJ Eagle GCM Dividend Select Income ETF	16.21%	1.23%

Correlation

The correlation between RJMI and RJDI is 0.24, 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	0.24

Return for Risk

RJMI vs. RJDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RJ Eagle Municipal Income ETF (RJMI) and RJ Eagle GCM Dividend Select Income ETF (RJDI). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

RJMI vs. RJDI - Drawdown Comparison

The maximum RJMI drawdown since its inception was -3.04%, smaller than the maximum RJDI drawdown of -7.05%. Use the drawdown chart below to compare losses from any high point for RJMI and RJDI.

Drawdown Indicators

	RJMI	RJDI	Difference
Max Drawdown Largest peak-to-trough decline	-3.04%	-7.05%	+4.01%
Current Drawdown Current decline from peak	-0.51%	-0.38%	-0.13%
Average Drawdown Average peak-to-trough decline	-0.63%	-1.43%	+0.80%

Volatility

Volatility by Period

	RJMI	RJDI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.01%	12.58%	-9.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.01%	12.58%	-9.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.01%	12.58%	-9.57%

RJMI vs. RJDI - Expense Ratio Comparison

RJMI has a 0.41% expense ratio, which is lower than RJDI's 0.63% expense ratio.

Dividends

RJMI vs. RJDI - Dividend Comparison

RJMI's dividend yield for the trailing twelve months is around 2.24%, more than RJDI's 0.78% yield.

Position	TTM	2025
RJDI RJ Eagle GCM Dividend Select Income ETF	0.78%	0.23%
RJMI RJ Eagle Municipal Income ETF	2.24%	0.61%

Frequently Asked Questions

Can I hold both RJMI and RJDI in my portfolio?

RJMI and RJDI 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.

Which ETF is better, RJMI or RJDI?

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.

Which ETF is cheaper, RJMI or RJDI?

RJMI is cheaper with a 0.41% expense ratio, compared with 0.63% for RJDI.

Which ETF pays a higher dividend yield, RJMI or RJDI?

RJMI has the higher dividend yield at 2.24%, compared with 0.78% for RJDI.

What is the main difference between RJMI and RJDI?

RJMI is categorized as Municipal Bonds, while RJDI is Dividend. Their fees differ too: 0.41% for RJMI and 0.63% for RJDI.