SMB vs. RMNY

Last updated Jun 24, 2026

SMB (VanEck Short Muni ETF) and RMNY (Rockefeller New York Municipal Bond ETF) are both Municipal Bonds funds. SMB is passively managed, while RMNY is actively managed. Over the past year, SMB returned 3.53% vs 7.52% for RMNY. A 0.52 correlation means they provide meaningful diversification when combined. SMB charges 0.20%/yr vs 0.55%/yr for RMNY.

Performance

SMB vs. RMNY - Performance Comparison

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

Returns By Period

In the year-to-date period, SMB achieves a 0.76% return, which is significantly lower than RMNY's 2.88% return.

SMB

• 1D: -0.03%
• 1M: 0.79%
• YTD: 0.76%
• 6M: 0.76%
• 1Y: 3.53%
• 3Y*: 3.47%
• 5Y*: 1.24%
• 10Y*: 1.48%

RMNY

• 1D: 0.06%
• 1M: 1.85%
• YTD: 2.88%
• 6M: 3.12%
• 1Y: 7.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMB vs. RMNY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SMB VanEck Short Muni ETF	0.76%	4.61%	0.80%
RMNY Rockefeller New York Municipal Bond ETF	2.88%	2.35%	0.80%

Correlation

The correlation between SMB and RMNY is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Aug 13, 2024	0.52

The correlation between SMB and RMNY has been stable across timeframes, ranging from 0.46 to 0.52 - a consistent structural relationship.

Return for Risk

SMB vs. RMNY — Risk / Return Rank

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

SMB

SMB Risk / Return Rank: 69
SMB Sharpe Ratio Rank: 73
SMB Sortino Ratio Rank: 77
SMB Omega Ratio Rank: 79
SMB Calmar Ratio Rank: 66
SMB Martin Ratio Rank: 52

RMNY

RMNY Risk / Return Rank: 70
RMNY Sharpe Ratio Rank: 65
RMNY Sortino Ratio Rank: 71
RMNY Omega Ratio Rank: 75
RMNY Calmar Ratio Rank: 71
RMNY Martin Ratio Rank: 65

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.

SMB vs. RMNY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Short Muni ETF (SMB) and Rockefeller New York Municipal Bond ETF (RMNY). 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.

	SMB	RMNY	Difference
Sharpe ratio: Return per unit of total volatility	2.18	1.96	+0.22
Sortino ratio: Return per unit of downside risk	3.20	2.93	+0.27
Omega ratio: Gain probability vs. loss probability	1.43	1.40	+0.03
Calmar ratio: Return relative to maximum drawdown	3.03	3.31	-0.28
Martin ratio: Return relative to average drawdown	8.52	10.89	-2.37

SMB vs. RMNY - Sharpe Ratio Comparison

The current SMB Sharpe Ratio is 2.18, which is comparable to the RMNY Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of SMB and RMNY, 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

SMB vs. RMNY - Drawdown Comparison

The maximum SMB drawdown since its inception was -12.64%, which is greater than RMNY's maximum drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for SMB and RMNY.

Drawdown Indicators

	SMB	RMNY	Difference
Max Drawdown Largest peak-to-trough decline	-12.64%	-5.70%	-6.94%
Max Drawdown (1Y) Largest decline over 1 year	-1.17%	-2.28%	+1.11%
Max Drawdown (3Y) Largest decline over 3 years	-1.80%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-7.48%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-12.64%	—	—
Current Drawdown Current decline from peak	-0.05%	0.00%	-0.05%
Average Drawdown Average peak-to-trough decline	-1.14%	-1.49%	+0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.42%	0.69%	-0.27%

Volatility

SMB vs. RMNY - Volatility Comparison

The current volatility for VanEck Short Muni ETF (SMB) is 0.29%, while Rockefeller New York Municipal Bond ETF (RMNY) has a volatility of 1.16%. This indicates that SMB experiences smaller price fluctuations and is considered to be less risky than RMNY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMB	RMNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.29%	1.16%	-0.87%
Volatility (6M) Calculated over the trailing 6-month period	1.16%	2.81%	-1.65%
Volatility (1Y) Calculated over the trailing 1-year period	1.63%	3.85%	-2.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.48%	5.15%	-2.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.26%	5.15%	-0.89%

SMB vs. RMNY - Expense Ratio Comparison

SMB has a 0.20% expense ratio, which is lower than RMNY's 0.55% expense ratio.

Dividends

SMB vs. RMNY - Dividend Comparison

SMB's dividend yield for the trailing twelve months is around 2.69%, less than RMNY's 4.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RMNY Rockefeller New York Municipal Bond ETF	4.29%	4.10%	1.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SMB VanEck Short Muni ETF	2.69%	2.63%	2.38%	1.83%	1.32%	1.24%	1.50%	1.58%	1.49%	1.23%	1.12%	1.13%

Frequently Asked Questions

Can I hold both SMB and RMNY in my portfolio?

SMB and RMNY have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMB or RMNY?

RMNY has higher volatility (1.16%) compared to SMB (0.29%). In terms of maximum drawdown, SMB dropped -12.64% vs RMNY's -5.70%.

Which ETF is better, SMB or RMNY?

On 1-year performance, RMNY leads with 7.52% vs 3.53% for SMB. On fees, SMB is cheaper at 0.20% per year. On volatility, SMB has been the lower-risk option at 0.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMB or RMNY?

Over the 1-year period, RMNY has performed better with a 7.52% return vs 3.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMB or RMNY?

SMB is cheaper with a 0.20% expense ratio, compared with 0.55% for RMNY.

Which ETF pays a higher dividend yield, SMB or RMNY?

RMNY has the higher dividend yield at 4.29%, compared with 2.69% for SMB.

What is the main difference between SMB and RMNY?

They also come from different issuers: VanEck and Rockefeller. Their fees differ too: 0.20% for SMB and 0.55% for RMNY.

Which has better risk-adjusted returns?

SMB currently has the higher Sharpe Ratio (2.18 vs 1.96), 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.