RFMZ vs VOO
RiverNorth Flexible Municipal Income Fund II Inc vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | RFMZ | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 4.27% | 0.03% | |
| AUM | $351M | $997.4B | |
| Dividend Yield | 6.94% | 1.08% | |
| Holdings | 126 | 509 | |
| YTD Return | +8.36% | +12.68% | |
| 1Y Return | +13.76% | +21.87% | |
| 3Y Return (annualized) | +6.67% | +22.06% | |
| 5Y Return (annualized) | -2.16% | +12.95% | |
| Volatility (annualized) | 15.1% | 14.1% | |
| Max Drawdown | -39.5% | -34.3% | |
| Fund Family | RiverNorth | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Feb 24, 2021 | Sep 7, 2010 |
RFMZ vs VOO Performance
RiverNorth Flexible Municipal Income Fund II Inc (RFMZ) is a ETF from RiverNorth and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year RFMZ returned +13.76% while VOO returned +21.87%. Year to date, RFMZ is up 8.36% versus a gain of 12.68% for VOO.
Over three years, RFMZ compounded at +6.67% per year against +22.06% for VOO; over five years the annualized figures are -2.16% and +12.95% respectively. Across the full 6-year window we track, VOO has the edge at +13.47% annualized vs -0.45%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RFMZ has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 14.1% for VOO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -39.5% for RFMZ and -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
RFMZ charges 4.27% per year while VOO charges 0.03%. On a $10,000 position that is $427 vs $3 annually, a gap of $424 per year that compounds over a long holding period. On income, RFMZ currently yields 6.94% against 1.08% for VOO.
Holdings Overlap
RFMZ and VOO share 0 holdings out of 564 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, RFMZ or VOO?
RFMZ has an expense ratio of 4.27% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $424 per year of difference.
Which performed better, RFMZ or VOO?
Over the past year RFMZ returned +13.76% vs +21.87% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (6 years), RFMZ annualized -0.45% vs +13.47% for VOO. Past performance does not guarantee future results.
Which is riskier, RFMZ or VOO?
RFMZ has been the more volatile fund at 15.1% annualized versus 14.1% for VOO. Worst drawdown: RFMZ -39.5% vs VOO -34.3%.
Should I hold both RFMZ and VOO?
RFMZ and VOO have a monthly-return correlation of 0.71, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between RFMZ and VOO?
RFMZ and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 564 unique securities.
Which pays a higher dividend, RFMZ or VOO?
RFMZ yields 6.94% while VOO yields 1.08%, so RFMZ currently pays the higher dividend yield.
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