TMNIX vs. RFM
TMNIX (Counterpoint Tactical Municipal Fund) and RFM (RiverNorth Flexible Municipal Income Fund) are both High Yield Muni funds. Over the past 5 years, TMNIX returned 1.78%/yr vs -1.96%/yr for RFM. Their 0.19 correlation means their historical movements had little consistent relationship. TMNIX charges 1.00%/yr vs 5.15%/yr for RFM.
Performance
TMNIX vs. RFM - Performance Comparison
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Returns By Period
In the year-to-date period, TMNIX achieves a 0.40% return, which is significantly lower than RFM's 8.81% return.
TMNIX
- 1D
- 0.00%
- 1M
- -1.95%
- 6M
- 0.04%
- YTD
- 0.40%
- 1Y
- 4.98%
- 3Y*
- 3.56%
- 5Y*
- 1.78%
- 10Y*
- —
- ALL TIME*
- 3.54%
RFM
- 1D
- -0.21%
- 1M
- -1.37%
- 6M
- 4.65%
- YTD
- 8.81%
- 1Y
- 13.02%
- 3Y*
- 3.91%
- 5Y*
- -1.96%
- 10Y*
- —
- ALL TIME*
- 2.90%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $120.06K | $124.16K | $157.09K | |
| $0.00 | $0.00 | $0.00 |
TMNIX vs. RFM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TMNIX Counterpoint Tactical Municipal Fund | 0.40% | 2.56% | 3.92% | 6.85% | -3.12% | 2.96% | 6.28% |
RFM RiverNorth Flexible Municipal Income Fund | 8.81% | 1.59% | 3.24% | 6.50% | -22.85% | 10.85% | 15.33% |
Correlation
The correlation between TMNIX and RFM is 0.30, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.30 |
Correlation (3Y) Balances recent behavior with more history. | 0.23 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.20 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2020 | 0.19 |
The correlation between TMNIX and RFM shifts across timeframes, from 0.19 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TMNIX vs. RFM — Risk / Return Rank
TMNIX
RFM
TMNIX vs. RFM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Counterpoint Tactical Municipal Fund (TMNIX) and RiverNorth Flexible Municipal Income Fund (RFM). 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.
| TMNIX | RFM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.29 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | 2.46 | -0.19 |
| Martin ratioReturn relative to average drawdown | 5.87 | 7.77 | -1.90 |
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Drawdowns
TMNIX vs. RFM - Drawdown Comparison
The maximum TMNIX drawdown since its inception was -4.63%, smaller than the maximum RFM drawdown of -35.49%. Use the drawdown chart below to compare losses from any high point for TMNIX and RFM.
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Drawdown Indicators
| TMNIX | RFM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.63% | -35.49% | +30.86% |
Max Drawdown (1Y)Largest decline over 1 year | -2.26% | -5.83% | +3.57% |
Max Drawdown (3Y)Largest decline over 3 years | -4.61% | -18.28% | +13.67% |
Max Drawdown (5Y)Largest decline over 5 years | -4.61% | -35.49% | +30.88% |
Current DrawdownCurrent decline from peak | -1.95% | -10.66% | +8.71% |
Average DrawdownAverage peak-to-trough decline | -1.46% | -14.60% | +13.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 1.84% | -0.97% |
Volatility
TMNIX vs. RFM - Volatility Comparison
The current volatility for Counterpoint Tactical Municipal Fund (TMNIX) is 0.78%, while RiverNorth Flexible Municipal Income Fund (RFM) has a volatility of 1.84%. This indicates that TMNIX experiences smaller price fluctuations and is considered to be less risky than RFM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TMNIX | RFM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 1.84% | -1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.08% | 7.45% | -5.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.70% | 9.33% | -6.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.06% | 12.84% | -9.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.68% | 12.59% | -9.91% |
TMNIX vs. RFM - Expense Ratio Comparison
TMNIX has a 1.00% expense ratio, which is lower than RFM's 5.15% expense ratio.
Dividends
TMNIX vs. RFM - Dividend Comparison
TMNIX's dividend yield for the trailing twelve months is around 3.48%, less than RFM's 7.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
RFM RiverNorth Flexible Municipal Income Fund | 7.46% | 8.07% | 7.70% | 7.64% | 8.38% | 10.49% | 5.07% | 0.00% | 0.00% |
TMNIX Counterpoint Tactical Municipal Fund | 3.48% | 2.79% | 3.31% | 3.40% | 0.36% | 4.39% | 2.36% | 3.69% | 1.10% |
Frequently Asked Questions
TMNIX and RFM have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RFM has higher volatility (1.84%) compared to TMNIX (0.78%). In terms of maximum drawdown, TMNIX dropped -4.63% vs RFM's -35.49%.
TMNIX currently has the higher Sharpe Ratio (1.90 vs 1.53), 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.
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