RMNY vs. MBND

Last updated Apr 7, 2026

Compare and contrast key facts about Rockefeller New York Municipal Bond ETF (RMNY) and SPDR Nuveen Municipal Bond ETF (MBND).

RMNY and MBND are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. RMNY is an actively managed fund by Rockefeller. It was launched on Aug 12, 2024. MBND is an actively managed fund by State Street. It was launched on Feb 4, 2021.

Performance

RMNY vs. MBND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rockefeller New York Municipal Bond ETF (RMNY) and SPDR Nuveen Municipal Bond ETF (MBND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RMNY achieves a 0.92% return, which is significantly higher than MBND's 0.03% return.

RMNY

• 1D: 0.00%
• 1M: -0.11%
• YTD: 0.92%
• 6M: 2.13%
• 1Y: 2.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MBND

• 1D: 0.04%
• 1M: -1.13%
• YTD: 0.03%
• 6M: 1.18%
• 1Y: 2.23%
• 3Y*: 2.90%
• 5Y*: 0.67%
• 10Y*: —

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

RMNY vs. MBND - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RMNY Rockefeller New York Municipal Bond ETF	0.92%	2.35%	0.86%
MBND SPDR Nuveen Municipal Bond ETF	0.03%	2.90%	0.31%

Correlation

The correlation between RMNY and MBND is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined. Holding both can reduce overall portfolio volatility compared to holding either one alone.

RMNY vs. MBND - Expense Ratio Comparison

RMNY has a 0.55% expense ratio, which is higher than MBND's 0.40% expense ratio.

RMNY

Rockefeller New York Municipal Bond ETF

MBND

SPDR Nuveen Municipal Bond ETF

Return for Risk

RMNY vs. MBND — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RMNY

RMNY Risk / Return Rank: 20
RMNY Sharpe Ratio Rank: 20
RMNY Sortino Ratio Rank: 17
RMNY Omega Ratio Rank: 20
RMNY Calmar Ratio Rank: 22
RMNY Martin Ratio Rank: 19

MBND

MBND Risk / Return Rank: 24
MBND Sharpe Ratio Rank: 24
MBND Sortino Ratio Rank: 19
MBND Omega Ratio Rank: 26
MBND Calmar Ratio Rank: 26
MBND Martin Ratio Rank: 25

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

RMNY vs. MBND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rockefeller New York Municipal Bond ETF (RMNY) and SPDR Nuveen Municipal Bond ETF (MBND). 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.

	RMNY	MBND	Difference
Sharpe ratio Return per unit of total volatility	0.48	0.59	-0.11
Sortino ratio Return per unit of downside risk	0.66	0.72	-0.06
Omega ratio Gain probability vs. loss probability	1.11	1.14	-0.03
Calmar ratio Return relative to maximum drawdown	0.74	0.87	-0.13
Martin ratio Return relative to average drawdown	1.64	2.63	-0.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RMNY vs. MBND - Sharpe Ratio Comparison

The current RMNY Sharpe Ratio is 0.48, which is comparable to the MBND Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of RMNY and MBND, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RMNY	MBND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.48	0.59	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.20	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.15	+0.33

Drawdowns

RMNY vs. MBND - Drawdown Comparison

The maximum RMNY drawdown since its inception was -5.70%, smaller than the maximum MBND drawdown of -13.18%. Use the drawdown chart below to compare losses from any high point for RMNY and MBND.

Drawdown Indicators

	RMNY	MBND	Difference
Max Drawdown Largest peak-to-trough decline	-5.70%	-13.18%	+7.48%
Max Drawdown (1Y) Largest decline over 1 year	-2.66%	-2.44%	-0.22%
Max Drawdown (5Y) Largest decline over 5 years	—	-13.18%	—
Current Drawdown Current decline from peak	-0.87%	-1.69%	+0.82%
Average Drawdown Average peak-to-trough decline	-1.65%	-4.29%	+2.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	1.22%	+0.81%

Volatility

RMNY vs. MBND - Volatility Comparison

Rockefeller New York Municipal Bond ETF (RMNY) has a higher volatility of 1.94% compared to SPDR Nuveen Municipal Bond ETF (MBND) at 1.18%. This indicates that RMNY's price experiences larger fluctuations and is considered to be riskier than MBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RMNY	MBND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.94%	1.18%	+0.76%
Volatility (6M) Calculated over the trailing 6-month period	2.60%	1.64%	+0.96%
Volatility (1Y) Calculated over the trailing 1-year period	5.65%	3.81%	+1.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.33%	3.45%	+1.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.33%	3.43%	+1.90%

Dividends

RMNY vs. MBND - Dividend Comparison

RMNY's dividend yield for the trailing twelve months is around 4.13%, more than MBND's 3.55% yield.

	TTM	2025	2024	2023	2022	2021
RMNY Rockefeller New York Municipal Bond ETF	4.13%	4.10%	1.31%	0.00%	0.00%	0.00%
MBND SPDR Nuveen Municipal Bond ETF	3.55%	3.43%	2.72%	2.53%	1.61%	1.62%