RMNY vs. PWZ
Compare and contrast key facts about Rockefeller New York Municipal Bond ETF (RMNY) and Invesco California AMT-Free Municipal Bond ETF (PWZ).
RMNY and PWZ 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. PWZ is a passively managed fund by Invesco that tracks the performance of the ICE BofA California Long-Term Core Plus Muni. It was launched on Oct 11, 2007.
Performance
RMNY vs. PWZ - Performance Comparison
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Returns By Period
In the year-to-date period, RMNY achieves a 0.92% return, which is significantly higher than PWZ's 0.41% return.
RMNY
- 1D
- 0.00%
- 1M
- -0.11%
- YTD
- 0.92%
- 6M
- 2.13%
- 1Y
- 2.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PWZ
- 1D
- -0.08%
- 1M
- -0.71%
- YTD
- 0.41%
- 6M
- 1.96%
- 1Y
- 3.57%
- 3Y*
- 1.99%
- 5Y*
- 0.06%
- 10Y*
- 1.83%
RMNY vs. PWZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
RMNY Rockefeller New York Municipal Bond ETF | 0.92% | 2.35% | 0.86% |
PWZ Invesco California AMT-Free Municipal Bond ETF | 0.41% | 1.26% | 0.25% |
Correlation
The correlation between RMNY and PWZ is 0.66, 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. PWZ - Expense Ratio Comparison
RMNY has a 0.55% expense ratio, which is higher than PWZ's 0.28% expense ratio.
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Return for Risk
RMNY vs. PWZ — Risk / Return Rank
RMNY
PWZ
RMNY vs. PWZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rockefeller New York Municipal Bond ETF (RMNY) and Invesco California AMT-Free Municipal Bond ETF (PWZ). 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 | PWZ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.48 | 0.50 | -0.02 |
Sortino ratioReturn per unit of downside risk | 0.66 | 0.70 | -0.04 |
Omega ratioGain probability vs. loss probability | 1.11 | 1.12 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 0.74 | 0.66 | +0.08 |
Martin ratioReturn relative to average drawdown | 1.64 | 1.72 | -0.08 |
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
| RMNY | PWZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.48 | 0.50 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.01 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.31 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.45 | +0.03 |
Drawdowns
RMNY vs. PWZ - Drawdown Comparison
The maximum RMNY drawdown since its inception was -5.70%, smaller than the maximum PWZ drawdown of -21.49%. Use the drawdown chart below to compare losses from any high point for RMNY and PWZ.
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Drawdown Indicators
| RMNY | PWZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.70% | -21.49% | +15.79% |
Max Drawdown (1Y)Largest decline over 1 year | -2.66% | -3.47% | +0.81% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.56% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.56% | — |
Current DrawdownCurrent decline from peak | -0.87% | -2.54% | +1.67% |
Average DrawdownAverage peak-to-trough decline | -1.65% | -3.56% | +1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 2.33% | -0.30% |
Volatility
RMNY vs. PWZ - Volatility Comparison
Rockefeller New York Municipal Bond ETF (RMNY) and Invesco California AMT-Free Municipal Bond ETF (PWZ) have volatilities of 1.94% and 1.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RMNY | PWZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.94% | 1.88% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.60% | 2.89% | -0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.65% | 7.19% | -1.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.33% | 6.22% | -0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.33% | 5.89% | -0.56% |
Dividends
RMNY vs. PWZ - Dividend Comparison
RMNY's dividend yield for the trailing twelve months is around 4.13%, more than PWZ's 3.56% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RMNY Rockefeller New York Municipal Bond ETF | 4.13% | 4.10% | 1.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PWZ Invesco California AMT-Free Municipal Bond ETF | 3.56% | 3.41% | 3.28% | 2.84% | 2.49% | 2.28% | 2.34% | 2.51% | 2.53% | 2.48% | 2.86% | 3.16% |