RMOP vs. NHYM

Last updated Jun 4, 2026

RMOP (Rockefeller Opportunistic Municipal Bond ETF) and NHYM (Nuveen High Yield Municipal Income ETF) are both High Yield Muni funds. Both are actively managed. Over the past year, RMOP returned 10.23% vs 8.76% for NHYM. A 0.74 correlation means they provide meaningful diversification when combined. RMOP charges 0.55%/yr vs 0.35%/yr for NHYM.

Performance

RMOP vs. NHYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rockefeller Opportunistic Municipal Bond ETF (RMOP) and Nuveen High Yield Municipal Income ETF (NHYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RMOP achieves a 3.38% return, which is significantly higher than NHYM's 2.77% return.

RMOP

• 1D: 0.02%
• 1M: 1.17%
• YTD: 3.38%
• 6M: 3.85%
• 1Y: 10.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NHYM

• 1D: -0.06%
• 1M: 1.06%
• YTD: 2.77%
• 6M: 3.27%
• 1Y: 8.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RMOP vs. NHYM - Yearly Performance Comparison

	2026 (YTD)	2025
RMOP Rockefeller Opportunistic Municipal Bond ETF	3.38%	4.04%
NHYM Nuveen High Yield Municipal Income ETF	2.77%	3.25%

Correlation

The correlation between RMOP and NHYM is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jan 24, 2025	0.74

The correlation between RMOP and NHYM has been stable across timeframes, ranging from 0.74 to 0.74 - a consistent structural relationship.

Return for Risk

RMOP vs. NHYM — Risk / Return Rank

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

RMOP

RMOP Risk / Return Rank: 82
RMOP Sharpe Ratio Rank: 83
RMOP Sortino Ratio Rank: 88
RMOP Omega Ratio Rank: 89
RMOP Calmar Ratio Rank: 77
RMOP Martin Ratio Rank: 74

NHYM

NHYM Risk / Return Rank: 63
NHYM Sharpe Ratio Rank: 60
NHYM Sortino Ratio Rank: 69
NHYM Omega Ratio Rank: 70
NHYM Calmar Ratio Rank: 65
NHYM Martin Ratio Rank: 54

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.

RMOP vs. NHYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rockefeller Opportunistic Municipal Bond ETF (RMOP) and Nuveen High Yield Municipal Income ETF (NHYM). 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.

	RMOP	NHYM	Difference
Sharpe ratio: Return per unit of total volatility	2.70	2.00	+0.69
Sortino ratio: Return per unit of downside risk	4.03	3.10	+0.92
Omega ratio: Gain probability vs. loss probability	1.56	1.41	+0.14
Calmar ratio: Return relative to maximum drawdown	3.87	3.18	+0.69
Martin ratio: Return relative to average drawdown	13.86	9.29	+4.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RMOP vs. NHYM - Sharpe Ratio Comparison

The current RMOP Sharpe Ratio is 2.70, which is higher than the NHYM Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of RMOP and NHYM, 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

	RMOP	NHYM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	2.00	+0.69
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	0.76	+0.23

Drawdowns

RMOP vs. NHYM - Drawdown Comparison

The maximum RMOP drawdown since its inception was -6.67%, which is greater than NHYM's maximum drawdown of -6.11%. Use the drawdown chart below to compare losses from any high point for RMOP and NHYM.

Drawdown Indicators

	RMOP	NHYM	Difference
Max Drawdown Largest peak-to-trough decline	-6.67%	-6.11%	-0.56%
Max Drawdown (1Y) Largest decline over 1 year	-2.66%	-2.77%	+0.11%
Current Drawdown Current decline from peak	0.00%	-0.06%	+0.06%
Average Drawdown Average peak-to-trough decline	-1.52%	-1.73%	+0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.74%	0.95%	-0.21%

Volatility

RMOP vs. NHYM - Volatility Comparison

The current volatility for Rockefeller Opportunistic Municipal Bond ETF (RMOP) is 1.21%, while Nuveen High Yield Municipal Income ETF (NHYM) has a volatility of 1.34%. This indicates that RMOP experiences smaller price fluctuations and is considered to be less risky than NHYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RMOP	NHYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.21%	1.34%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	2.67%	2.61%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	3.81%	4.39%	-0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.66%	5.93%	-0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.66%	5.93%	-0.27%

RMOP vs. NHYM - Expense Ratio Comparison

RMOP has a 0.55% expense ratio, which is higher than NHYM's 0.35% expense ratio.

Dividends

RMOP vs. NHYM - Dividend Comparison

RMOP's dividend yield for the trailing twelve months is around 5.20%, more than NHYM's 4.53% yield.

Position	TTM	2025	2024
NHYM Nuveen High Yield Municipal Income ETF	4.53%	4.06%	0.00%
RMOP Rockefeller Opportunistic Municipal Bond ETF	5.20%	5.15%	1.27%

Frequently Asked Questions

Can I hold both RMOP and NHYM in my portfolio?

RMOP and NHYM have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RMOP or NHYM?

NHYM has higher volatility (1.34%) compared to RMOP (1.21%). In terms of maximum drawdown, RMOP dropped -6.67% vs NHYM's -6.11%.

Which ETF is better, RMOP or NHYM?

On 1-year performance, RMOP leads with 10.23% vs 8.76% for NHYM. On fees, NHYM is cheaper at 0.35% per year. On volatility, RMOP has been the lower-risk option at 1.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RMOP or NHYM?

Over the 1-year period, RMOP has performed better with a 10.23% return vs 8.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RMOP or NHYM?

NHYM is cheaper with a 0.35% expense ratio, compared with 0.55% for RMOP.

Which ETF pays a higher dividend yield, RMOP or NHYM?

RMOP has the higher dividend yield at 5.20%, compared with 4.53% for NHYM.

What is the main difference between RMOP and NHYM?

They also come from different issuers: Rockefeller and Nuveen. Their fees differ too: 0.55% for RMOP and 0.35% for NHYM.

Which has better risk-adjusted returns?

RMOP currently has the higher Sharpe Ratio (2.70 vs 2.00), 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.