RMM vs. HYT
RMM (Rivernorth Managed Duration Municipal Income Fund Inc.) is a stock, while HYT (BlackRock Corporate High Yield Fund) is High Yield Bonds fund actively managed by BlackRock. Over the past 5 years, RMM returned 0.33%/yr vs 2.36%/yr for HYT. At a 0.28 correlation, their price movements are largely independent.
Performance
RMM vs. HYT - Performance Comparison
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Returns By Period
In the year-to-date period, RMM achieves a 10.36% return, which is significantly higher than HYT's 0.95% return.
RMM
- 1D
- -0.62%
- 1M
- 2.78%
- YTD
- 10.36%
- 6M
- 9.79%
- 1Y
- 16.89%
- 3Y*
- 6.54%
- 5Y*
- 0.33%
- 10Y*
- —
HYT
- 1D
- -0.35%
- 1M
- 0.68%
- YTD
- 0.95%
- 6M
- -0.17%
- 1Y
- -2.49%
- 3Y*
- 9.54%
- 5Y*
- 2.36%
- 10Y*
- 7.39%
RMM vs. HYT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
RMM Rivernorth Managed Duration Municipal Income Fund Inc. | 10.36% | 2.01% | 9.25% | 5.93% | -23.45% | 19.66% | -2.15% | -1.00% |
HYT BlackRock Corporate High Yield Fund | 0.95% | 0.06% | 14.43% | 19.92% | -22.58% | 16.62% | 11.55% | 9.66% |
Correlation
The correlation between RMM and HYT is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2019 | 0.28 |
The correlation between RMM and HYT shifts across timeframes, from 0.17 (1 year) to 0.29 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
RMM vs. HYT — Risk / Return Rank
RMM
HYT
RMM vs. HYT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rivernorth Managed Duration Municipal Income Fund Inc. (RMM) and BlackRock Corporate High Yield Fund (HYT). 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.
| RMM | HYT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.79 | ||
| Sortino ratioReturn per unit of downside risk | +2.69 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.97 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | -0.25 | +2.39 |
| Martin ratioReturn relative to average drawdown | 7.51 | -0.58 | +8.10 |
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Drawdowns
RMM vs. HYT - Drawdown Comparison
The maximum RMM drawdown since its inception was -35.99%, smaller than the maximum HYT drawdown of -56.95%. Use the drawdown chart below to compare losses from any high point for RMM and HYT.
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Drawdown Indicators
| RMM | HYT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.99% | -56.95% | +20.96% |
Max Drawdown (1Y)Largest decline over 1 year | -7.90% | -10.17% | +2.27% |
Max Drawdown (3Y)Largest decline over 3 years | -20.16% | -13.95% | -6.21% |
Max Drawdown (5Y)Largest decline over 5 years | -33.29% | -29.05% | -4.24% |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.59% | — |
Current DrawdownCurrent decline from peak | -5.13% | -5.12% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -13.72% | -5.90% | -7.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 4.28% | -2.03% |
Volatility
RMM vs. HYT - Volatility Comparison
Rivernorth Managed Duration Municipal Income Fund Inc. (RMM) has a higher volatility of 2.89% compared to BlackRock Corporate High Yield Fund (HYT) at 1.87%. This indicates that RMM's price experiences larger fluctuations and is considered to be riskier than HYT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RMM | HYT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.89% | 1.87% | +1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 9.21% | 6.94% | +2.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.05% | 9.90% | +1.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.50% | 14.47% | +0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.84% | 16.94% | +0.90% |
Dividends
RMM vs. HYT - Dividend Comparison
RMM's dividend yield for the trailing twelve months is around 7.25%, less than HYT's 11.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYT BlackRock Corporate High Yield Fund | 11.00% | 10.50% | 9.53% | 9.91% | 9.80% | 7.58% | 8.18% | 7.92% | 9.20% | 7.68% | 8.23% | 10.18% |
RMM Rivernorth Managed Duration Municipal Income Fund Inc. | 7.25% | 7.98% | 7.63% | 7.71% | 7.74% | 5.46% | 6.18% | 1.90% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RMM and HYT have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RMM has higher volatility (2.89%) compared to HYT (1.87%). In terms of maximum drawdown, RMM dropped -35.99% vs HYT's -56.95%.
RMM currently has the higher Sharpe Ratio (1.54 vs -0.25), 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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