RMOP vs. RMCA

Last updated Apr 15, 2026

RMOP (Rockefeller Opportunistic Municipal Bond ETF) and RMCA (Rockefeller California Municipal Bond ETF) are both exchange-traded funds — RMOP is a High Yield Muni fund actively managed by Rockefeller, while RMCA is a Municipal Bonds fund actively managed by Rockefeller. Both are actively managed. Over the past year, RMOP returned 10.12% vs 6.73% for RMCA. Their correlation of 0.86 suggests significant overlap in exposure. Both charge a 0.55% expense ratio.

Performance

RMOP vs. RMCA - Performance Comparison

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

Returns By Period

In the year-to-date period, RMOP achieves a 1.92% return, which is significantly higher than RMCA's 1.43% return.

RMOP

• 1D: -0.04%
• 1M: 1.04%
• YTD: 1.92%
• 6M: 2.95%
• 1Y: 10.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RMCA

• 1D: -0.08%
• 1M: 0.56%
• YTD: 1.43%
• 6M: 1.55%
• 1Y: 6.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RMOP vs. RMCA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RMOP Rockefeller Opportunistic Municipal Bond ETF	1.92%	3.90%	2.64%
RMCA Rockefeller California Municipal Bond ETF	1.43%	2.35%	-0.14%

Correlation

The correlation between RMOP and RMCA is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification — they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (All Time) Calculated using the full available price history since Aug 14, 2024	0.86

The correlation between RMOP and RMCA has been stable across timeframes, ranging from 0.81 to 0.86 — a consistent structural relationship.

Return for Risk

RMOP vs. RMCA — Risk / Return Rank

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

RMOP

RMOP Risk / Return Rank: 62
RMOP Sharpe Ratio Rank: 61
RMOP Sortino Ratio Rank: 66
RMOP Omega Ratio Rank: 75
RMOP Calmar Ratio Rank: 55
RMOP Martin Ratio Rank: 52

RMCA

RMCA Risk / Return Rank: 34
RMCA Sharpe Ratio Rank: 34
RMCA Sortino Ratio Rank: 36
RMCA Omega Ratio Rank: 40
RMCA Calmar Ratio Rank: 32
RMCA Martin Ratio Rank: 28

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. RMCA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rockefeller Opportunistic Municipal Bond ETF (RMOP) and Rockefeller California Municipal Bond ETF (RMCA). 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	RMCA	Difference
Sharpe ratio Return per unit of total volatility	2.27	1.60	+0.67
Sortino ratio Return per unit of downside risk	3.30	2.39	+0.91
Omega ratio Gain probability vs. loss probability	1.49	1.33	+0.16
Calmar ratio Return relative to maximum drawdown	3.54	2.30	+1.24
Martin ratio Return relative to average drawdown	12.04	6.41	+5.63
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. RMCA - Sharpe Ratio Comparison

The current RMOP Sharpe Ratio is 2.27, which is higher than the RMCA Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of RMOP and RMCA, 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	RMCA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	1.60	+0.67
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	0.40	+0.49

Drawdowns

RMOP vs. RMCA - Drawdown Comparison

The maximum RMOP drawdown since its inception was -6.67%, which is greater than RMCA's maximum drawdown of -5.95%. Use the drawdown chart below to compare losses from any high point for RMOP and RMCA.

Drawdown Indicators

	RMOP	RMCA	Difference
Max Drawdown Largest peak-to-trough decline	-6.67%	-5.95%	-0.72%
Max Drawdown (1Y) Largest decline over 1 year	-2.66%	-2.97%	+0.31%
Current Drawdown Current decline from peak	-0.35%	-0.49%	+0.14%
Average Drawdown Average peak-to-trough decline	-1.62%	-1.74%	+0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.78%	1.07%	-0.29%

Volatility

RMOP vs. RMCA - Volatility Comparison

Rockefeller Opportunistic Municipal Bond ETF (RMOP) and Rockefeller California Municipal Bond ETF (RMCA) have volatilities of 1.72% and 1.73%, 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.

Volatility by Period

	RMOP	RMCA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.72%	1.73%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.49%	2.40%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	4.55%	4.41%	+0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.79%	5.53%	+0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.79%	5.53%	+0.26%

RMOP vs. RMCA - Expense Ratio Comparison

Both RMOP and RMCA have an expense ratio of 0.55%.

Dividends

RMOP vs. RMCA - Dividend Comparison

RMOP's dividend yield for the trailing twelve months is around 5.22%, more than RMCA's 4.44% yield.

	TTM	2025	2024
RMOP Rockefeller Opportunistic Municipal Bond ETF	5.22%	5.15%	1.27%
RMCA Rockefeller California Municipal Bond ETF	4.44%	4.51%	1.20%