RTAI vs. MUNY

Last updated Jun 24, 2026

RTAI (Rareview Tax Advantaged Income ETF) and MUNY (Vanguard New York Tax-Exempt Bond ETF) are both Municipal Bonds funds. RTAI is actively managed, while MUNY is passively managed. Over the past year, RTAI returned 11.68% vs 6.39% for MUNY. A 0.53 correlation means they provide meaningful diversification when combined. RTAI charges 3.78%/yr vs 0.09%/yr for MUNY.

Performance

RTAI vs. MUNY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rareview Tax Advantaged Income ETF (RTAI) and Vanguard New York Tax-Exempt Bond ETF (MUNY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RTAI achieves a 3.90% return, which is significantly higher than MUNY's 1.71% return.

RTAI

• 1D: 0.35%
• 1M: 3.23%
• YTD: 3.90%
• 6M: 4.64%
• 1Y: 11.68%
• 3Y*: 7.08%
• 5Y*: -0.71%
• 10Y*: —

MUNY

• 1D: -0.11%
• 1M: 1.41%
• YTD: 1.71%
• 6M: 1.78%
• 1Y: 6.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RTAI vs. MUNY - Yearly Performance Comparison

	2026 (YTD)	2025
RTAI Rareview Tax Advantaged Income ETF	3.90%	8.13%
MUNY Vanguard New York Tax-Exempt Bond ETF	1.71%	5.60%

Correlation

The correlation between RTAI and MUNY is 0.52, 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	0.52
Correlation (All Time) Calculated using the full available price history since May 22, 2025	0.53

The correlation between RTAI and MUNY has been stable across timeframes, ranging from 0.52 to 0.53 - a consistent structural relationship.

Return for Risk

RTAI vs. MUNY — Risk / Return Rank

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

RTAI

RTAI Risk / Return Rank: 56
RTAI Sharpe Ratio Rank: 56
RTAI Sortino Ratio Rank: 68
RTAI Omega Ratio Rank: 64
RTAI Calmar Ratio Rank: 41
RTAI Martin Ratio Rank: 49

MUNY

MUNY Risk / Return Rank: 68
MUNY Sharpe Ratio Rank: 75
MUNY Sortino Ratio Rank: 78
MUNY Omega Ratio Rank: 87
MUNY Calmar Ratio Rank: 52
MUNY Martin Ratio Rank: 50

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.

RTAI vs. MUNY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rareview Tax Advantaged Income ETF (RTAI) and Vanguard New York Tax-Exempt Bond ETF (MUNY). 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.

	RTAI	MUNY	Difference
Sharpe ratio: Return per unit of total volatility	1.75	2.22	-0.47
Sortino ratio: Return per unit of downside risk	2.82	3.19	-0.37
Omega ratio: Gain probability vs. loss probability	1.35	1.50	-0.15
Calmar ratio: Return relative to maximum drawdown	1.90	2.38	-0.48
Martin ratio: Return relative to average drawdown	7.69	7.97	-0.29

RTAI vs. MUNY - Sharpe Ratio Comparison

The current RTAI Sharpe Ratio is 1.75, which is comparable to the MUNY Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of RTAI and MUNY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RTAI vs. MUNY - Drawdown Comparison

The maximum RTAI drawdown since its inception was -34.32%, which is greater than MUNY's maximum drawdown of -2.70%. Use the drawdown chart below to compare losses from any high point for RTAI and MUNY.

Drawdown Indicators

	RTAI	MUNY	Difference
Max Drawdown Largest peak-to-trough decline	-34.32%	-2.70%	-31.62%
Max Drawdown (1Y) Largest decline over 1 year	-6.18%	-2.70%	-3.48%
Max Drawdown (3Y) Largest decline over 3 years	-15.71%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.32%	—	—
Current Drawdown Current decline from peak	-6.33%	-0.29%	-6.04%
Average Drawdown Average peak-to-trough decline	-13.76%	-0.65%	-13.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.52%	0.80%	+0.72%

Volatility

RTAI vs. MUNY - Volatility Comparison

Rareview Tax Advantaged Income ETF (RTAI) has a higher volatility of 2.02% compared to Vanguard New York Tax-Exempt Bond ETF (MUNY) at 0.75%. This indicates that RTAI's price experiences larger fluctuations and is considered to be riskier than MUNY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RTAI	MUNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.02%	0.75%	+1.27%
Volatility (6M) Calculated over the trailing 6-month period	5.47%	2.35%	+3.12%
Volatility (1Y) Calculated over the trailing 1-year period	6.72%	2.90%	+3.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.36%	3.86%	+5.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.03%	3.86%	+5.17%

RTAI vs. MUNY - Expense Ratio Comparison

RTAI has a 3.78% expense ratio, which is higher than MUNY's 0.09% expense ratio.

Dividends

RTAI vs. MUNY - Dividend Comparison

RTAI's dividend yield for the trailing twelve months is around 4.98%, more than MUNY's 3.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
MUNY Vanguard New York Tax-Exempt Bond ETF	3.10%	1.80%	0.00%	0.00%	0.00%	0.00%	0.00%
RTAI Rareview Tax Advantaged Income ETF	4.98%	5.66%	5.02%	3.07%	3.71%	4.73%	0.48%

Frequently Asked Questions

Can I hold both RTAI and MUNY in my portfolio?

RTAI and MUNY have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RTAI or MUNY?

RTAI has higher volatility (2.02%) compared to MUNY (0.75%). In terms of maximum drawdown, RTAI dropped -34.32% vs MUNY's -2.70%.

Which ETF is better, RTAI or MUNY?

On 1-year performance, RTAI leads with 11.68% vs 6.39% for MUNY. On fees, MUNY is cheaper at 0.09% per year. On volatility, MUNY has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RTAI or MUNY?

Over the 1-year period, RTAI has performed better with a 11.68% return vs 6.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RTAI or MUNY?

MUNY is cheaper with a 0.09% expense ratio, compared with 3.78% for RTAI.

Which ETF pays a higher dividend yield, RTAI or MUNY?

RTAI has the higher dividend yield at 4.98%, compared with 3.10% for MUNY.

What is the main difference between RTAI and MUNY?

They also come from different issuers: Rareview Funds and Vanguard. Their fees differ too: 3.78% for RTAI and 0.09% for MUNY.

Which has better risk-adjusted returns?

MUNY currently has the higher Sharpe Ratio (2.22 vs 1.75), 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.